Innovation and Entrepreneurship Essay Example | Topics and Well Written Essays - 750 words

Innovation and Entrepreneurship - Essay Example However, there are individuals who come up with original ideas for the future to gain huge profits. As a rule, these types of business look very interesting. How do you react when you are told that another millionaire made his millions on the sale of conventional jackets autographed by celebrities? But in fact this is the way Tanneberg Walter raised his capital in German city of Kiel. Selling jackets with autographs impressed rich people and they paid huge sums of money for these jackets. However, the business plan should be developed with regards to the investor's needs. The following steps should be taken: Summary. Every business plan summarizes data it contains. After reading the summary of the investor can "wake up" and invest money. Product. This section includes information about the product (product, service, project, and company): description, data – and a "unique selling proposition" (USP). It is very important to show confidence in the success of the project (Mintzbe rg, Ahlstrand and Lampel,1998). Market analysis. This part of a business plan includes information on the amount of the target market, its main trends. Such issues as market share and the actions taken are considered and a part of expenses is devoted to advertising and promotion. Manufacturing process. A description of all production phases of the project, a list of resources and tools (equipment, premises etc). Staff. The list of professionals involved in the design / development / promotion project (their skills, experience, qualifications etc). Project management. The list of project managers and the distribution of responsibilities between them. Cost management personnel, including the costs of the office (salaries, bonuses, rent, equipment, furniture, supplies etc). Sales plan. Projected revenues in the first months after launch, and after a year, three or five are considered. Examples of different scenarios for the project should be included in this section. Investment. The am ount of funds required to implement the project. You need to specify how much will cost borrowings, in which periods of activity and to what extent they are needed. Of course, there are many other issues, which should be taken into account, but, to my mind, the central innovative and a unique idea is a guarantee of further business plan success. My unique idea looks like this: I want to help my city in cleaning the roads from the used chewing gums. I plan to develop a series of posters with portraits of various celebrities - from politics to pop business starts. These posters can be placed on the subway while moving escalator, at the exit of the subway and bus stops and lamp posts and every 100 meters. The idea came to my mind after I noticed that people stick gum used for posters with images of people. Therefore, I plan to develop posters with the faces of famous people and write questions on them, such as "How do you feel about the legalization of marijuana in England?", "How do y ou feel about legalizing euthanasia?", "How do you feel about the banning of abortion?" And so on. Of course, people would like to vote in such an interesting way. Then personnel of my team will collect gums from two sectors of each poster: "for" and "against." Therefore, our community will get clean roads without any expenses on cleaning techniques, find out nation's attitude to critical social issues and enable me and my company to promote famous people and produce posters with their names. We can