New Venture Strategies

New Venture strategies include processes and steps with regards to entry timing, entry scope, marketing practices, patenting, and licensing, future planning as well as proper exploitation of market opportunities (Shepherd and Shanley, 1998). Business planning is of high importance to entrepreneurs who want to realize start-ups as it refers to a detailed map which can transform an opportunity which has been identified into a profitable business. Furthermore, planning can act as a useful means of gaining financial resources for a start-up from individual investors and financial institutions (Baron and Shane, 2008). This report attempts to make an in-depth analysis in order to address these issues with a stated goal of the identification of a recent venture’s development process, entrepreneurial characteristics, entrepreneurial motivation, and ways of protecting innovation as well as the challenges due tol business growth. Primary research is being conducted in the form of an interview of the owner of an e-commerce recent start-up.

1.1) AIMS

- The identification and analysis of the development process of a recent start-up.

1.2) OBJECTIVES

- To assess the importance of entrepreneurial characteristics and motivation for a business start-up.

- To explore the reasons for the foundation of the recent start-up.

- To assess the plans for the future development and growth of the recent start-up.

- To analyze the process of the development of the business plan

- To assess the practices and methods pursued for funding raising

- To assess the methods for overcoming challenges created with the development of the business.

- To identify the steps followed by the entrepreneur for protecting innovation

1.3) PRIMARY DAT...

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... steps that Dr Tsanis pursued to protect his business. Ambition, social skills and intuitation proved to be the key characteristics which ‘pushed’ Dr Tanis to invent Ven Tribe by investing his own capital in order to be able to manage control and profits independently. Furthermore, business planning was highly important for the entrepreneur as he was able to monitor Ven Tribe’s strategy and sales in accordance to the initial plan, thus taking corrective actions by improving Ven Tribe’s marketing strategy due to low actual sales. At this point it was remarkable to extract that much more pertinent and what potential investors really focus at is not the formulae, but the assumptions behind the formulae with regards to business plans. Finally, the registration of trademarks as well as domains proved highly significant regarding innovation protection in e-commerce.