- the platform for entrepreneur networking

Management Team Maethas Suthisuntornwong Xiaojun Liu Leopold Euan Vasiliki Karagiorgi Redpath Laura MSc in Business and Management MSc International Marketing Journalism MSc Environmental Entrepreneurship Journalism

Spring School: New Venture Creation Group 9

Business Description

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EntrepreneurBook is a social networking site that allows entrepreneurs to share ideas, skills and resources and help see their own business ideas become a reality. Services: Partner/new venture searching Consultancy Investment/funding Benefits: Broader information/opportunity accessibility Minimised risk Customers: Minimised cost Young entrepreneurial graduates Convenience Unemployed professionals with working experience Existing entrepreneurs with skills and experience to offer

Market analysis and research PESTEL Analysis

Political: Policies for inclusive entrepreneurship aim to ensure that all members of society have an equal opportunity to startup and operate in business and self-employment. (+) Economic: Entrepreneurs and SMEs have positive influence on economic growth (e.g., job creation). (+) Unemployment rates increased through the crisis (2008-2011) in EU member states (OECD, 2013). (+) The unemployment rate for youth is historically double that of adults and this remained consistent through the economic crisis (OECD, 2013). (+) The information and communications technology (ICT) sector is very important to the economy, which has been considered as the key driver of productivity increases and economic growth worldwide. (+)

Social:
Social inclusion is a long standing objective in the EU and the crisis has heightened awareness of the issue. (+) People are more and more rely on internet and social network. (+) Technological: Social media can be an excellent source of leads and new prospects for a small business and managed well, can potentially be the most efficient and cost effective way of finding and keeping new customers. (+) ICT has made searching information easier, as information can be found by looking over the internet. Legal: Intellectual property rights (IPRs) provide a basis for businesses to prevent others from copying their products or using their innovations. (-)

Five Forces

High threat of entry Low entry barriers Economies of scale

Entrants Competitive Rivalry

High supplier power IT supports team who provide the server hardware, software, or network bandwidth High switching cost to change the suppliers

No direct competitors Many indirect competitors and substitutes Suppliers Buyers High growth industry, economies of scale Buyers switching cost is low High supplier power Substitutes

The main buyers are the subscribers of premium services The buyer power is high since the premium users may get the similar or substitute services from other social networks sites

High threat of substitutes Alternative social media/information channels Labour market Human Resource Company

SWOT Analysis
Strength Provide unique services Easy to use High customer engagement Reliable database Weakness As a new starter, we lack of experience, resources and funding

W
T

Opportunity Stimulating policies encourage entrepreneurships ICT and entrepreneurship have been considered the key driver of productivity increases and economic growth worldwide

Threat It is hard to prevent imitation of this new venture Similar and substitute services

Marketing Mix
Product
A website enables them to network with fellow budding entrepreneurs.

Price
To give clients value for money we will offer three levels of subscription tiers (free trial, limited and unlimited) - they can choose how much they want to spend with us.

Target Market Place

The website is the platform where services provided. The customer online experience will be different from other competitors.

Promotion
Clients would be aware of us through promotion prior to launching via social media and advertising.

Resources
Physical Technology (servers, computers, etc.)

Office space
Financial Loans Angels & Venture Capital Stock market Intellectual Brands Intellectual property (e.g., patents/copyrights) Customer Databases

Resources (Human)
Management Team
International marketing Business management Entrepreneur Journalists

Experts in all fields will provide the necessary advertising and knowledge of what the market needs

Website Developer

An expertise in developing websites will eliminate the initial investment and make the appearance more attractive. An estimated cost is $6000 per month and $250/month for service reasons.
There is the need of advertising the website and analysing the global rates of unemployment in order to be able to new areas in which this company will focus on.

Marketing director

Consultancies

In order to preserve confidentiality, a legal advisor is required. Additional consultants are necessary to protect the customers

Other partners

Social media identified such other partners: LinkedIn and Kickstarter

Operations plan
1. Entrepreneur channel
Finding business partners with the similar criteria through website Reducing risk and cost

2. Consulting services
Providing strategic and managerial tools to compete other rivals

3. Investment
Promoting and crowd funding opportunities to other investors

Financial Analysis: Cash Flow Challenges

Initial investment
Servers and computers Office equipment Data bases

Value Chain
Wages Marketing advertising

Revenue Stream
Membership fees Consultancy fees Advertisements (Subscription fees) Processing fees for investors

Financial Analysis: Funding Sources

Own money / Overdraft Crowdfunding Angel Investors Venture Capital Crowdfunding Angel Investors

Cash Flow

Retained profit Institutional investors

Stock market

Introduction

Growth

Maturity

Decline

Red font = Internal funds

Black font = External funds