Unit: 28

Launching A New Venture

Table of Contents

Introduction:....................................................................................................................................1

LO1:.................................................................................................................................................2

Investigating and explaining a new venture to identify the target market and undertaking
competitive analysis.....................................................................................................................2

Determining specific tangible and intangible that would be required for the launch of the new
venture.........................................................................................................................................3

Producing a credible proposal to launch Pooper.........................................................................4

Applying techniques for competitive analysis to justify how to achieve competitive advantage
.....................................................................................................................................................5

Discussing the strengths and weaknesses of Pooper and determining the areas of risk..............7

LO2:.................................................................................................................................................8

Assessing the skills and capabilities required to launch a new venture and the way these skills
are acquired..................................................................................................................................8

Exploring the range of skills and capabilities that are required for the launch and critically
assessing the ways of acquiring the application of the appropriate method..............................10

LO3:...............................................................................................................................................11

Explaining different promotional activities and channels that will support the launch and
justifying their choice................................................................................................................11

Developing an appropriate promotional activities plan for both launch and pre-launch..........13

Evaluating appropriate promotional activities plan for both pre-launch and launch.................15

LO4:...............................................................................................................................................15

Producing an itemised cash budget for the pre-launch of Pooper and the first 12-18 months
preceding the launch..................................................................................................................15
 Justifying an itemised monthly cash budget showing one-off costs, ongoing costs and
anticipated income post and pre-launch....................................................................................18

Suggesting an appropriate legal form for Pooper and analysing the reason for choosing it.....18

Conclusion:................................................................................................................................19

References:....................................................................................................................................20
 1

Introduction:
The race of sustaining in the market and being established as an entity has made it important to
create new ventures. The report highlights the launch of a new venture that is eco-friendly to the
environment. The new venture is named as Pooper as it is a business that will be based on
producing papers from human poop and will help to reduce deforestation. The organization
targets to sell the products to people who like to use environment-friendly products. The report
shows the competitive advantage and the strategy structure of Pooper in the market so that its
probability to sustain in the competitive industry can be evaluated. Moreover, the capabilities
needed to launch the business and the pre-launch and launch activities of Pooper are also
highlighted here. A brief analysis of the budget to launch the venture and its accurate legal form
is also shown here.
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LO1:
P1. Investigating and explaining a new venture to identify the target market
and undertaking competitive analysis
The new venture called Pooper is a business where papers made from human poop are supplied
to the customers to avoid the use of wood. As an outcome to it, the unnecessary cutting of wood
will be declined which will be good for the environment. Moreover, it is a venture that is not
only eco-friendly but also recyclable. Here, human poop will be used as the raw material which
ensures the best use of human waste. As a result, the environment will be clean and the
deforestation will decrease all over the globe. In this business, the papers will be supplied to
people through shops, websites and telephoned based order system. In this particular venture, the
target audience will be the people in general, especially who are willing to use eco-friendly
products.

In the world, there are many companies of various countries are producing papers and in that
race, China, USA, Japan are on top. In the year of 2017-2018 (Breech, 2018), the worldwide
production of paper and cardboard was approximately 419.7 million metric tones which give an
indication about the amount trees that were cut down in order to mitigate the want of paper
globally. Mondi Group from the UK, Pulp Paper from Indonesia, Nippon Paper Group and Oji
Holdings from Japan, International Paper from the USA, etc. are the global market leaders in the
paper industry. But they do not produce the paper that is eco-friendly. As a result of it, the
environment is losing a huge number of trees and this situation is leading towards global
warming (Robert, 2019). Some organizations like- Poopoopapers are trying to produce
environment-friendly products. However, Pooper is a venture which will ensure the use of
human waste and produce the paper that will be both useful and environment-friendly. So this
venture will be launched in the UK at first. Then with the passage of time and through the deep
observation of its progress, it will be launched in other countries like- USA, Japan, Germany, etc.
As the paper is a necessary commodity in the market of any country, it is quite hard to get
entered into such a market. However, if the product is eco-friendly and useful, it can be expected
that it will be accepted by the customers.
 3

P2. Determining specific tangible and intangible that would be required for
the launch of the new venture
In the case of establishing a new venture, an organization needs a variety of tangible and
intangible resources to make sure that the organizational activities occur smoothly. On the basis
of the characteristics and operations of a business, the requirement of assets and materials
change. The tangible and intangible assets needed to establish and operate a business like-
Pooper is described below-

Tangible resources: Tangible resource is known as the object that has physical existence and
value, and makes a strong standing in the financial statement and balance sheet of an
organization as it enables to understand the organizational performance (BURNS, 2011). In
general, the tangible assets are not for sale, these are used for accomplishing the organizational
activities like- production, etc. A manufacturing business organization usually requires assets
that are needed for production. Some of the tangible assets are- machinery, production
equipment, factory, computer, etc.

Pooper is a manufacturing company which will be producing papers from the fibre of human
poop and vegetables. So need a variety of tangible resources to materialise its business plan. It
requires factory, production material and equipment, machinery, godown, vehicles for
distribution, and so on. It also requires assets for setting up its office for maintaining the business
properly. Apart from office space, some of the other tangible assets required in this regard are-
furniture, computers, office equipment, etc.

Intangible resources: Intangible resource is considered as the long-term asset of an organization

that does not have any physical existence, hard to measure and usually helps to gain different
entity (RIES, 2011). This type of resources is not usually bought and sold in the market like the
tangible ones. Usually, tangible resources are related to the intellectual and legal issues and some
of the intangible assets are- patent, copyright, trademark, goodwill, and so on.

Pooper is a new venture and so it must ensure the perfect use of some of its intangible assets. In
this case, the trademark of Pooper is one of its intangible resources. The logo of Pooper will be
used as its trademark. Moreover, its website, Youtube channel, email address, telephone number,
 4

Facebook page are also included in the list of intangible assets. It must ensure a patent for the
innovative ideas that it is going to create as well.

P3. Producing a credible proposal to launch Pooper

Date: July 25, 2020

Venture Name: Pooper

Location: 31-A Liddington Road, London, United Kingdom

Target Audience: People who like to use eco-friendly products

Venture Overview: Pooper is a business organization that focuses on producing environment-

friendly products to serve customers. It is a manufacturing company that will produce paper from
human poop and vegetable fibre. As a result, cutting down trees to produce paper will decline
which will be beneficial for the environment. It will manufacture products from human poop
which means it is recycling human wastes. It clearly defines that the paper produced by the
organization will be a recycled product too.

Product: Paper and paper-made products like- notebook, cards, etc.

Service: The company will provide its customers with various services. Customers can buy the
product from Pooper booth or any library. They can also order paper and paper made products
through the Pooper website and telephone number. Moreover, this product will also be available
in various online apps like- Amazon, Alibaba, etc.

Management Team: The entrepreneur of Pooper is John Pearson. He is also the CEO of the
organization. Initially, there are 5 department heads, 30 workers, 10 employees, 7 sales
representatives in the organization. Gradually the number of the member to manage the
organization will increase.

Financials: The capital will be collected from the angel investors and in the case of urgency, the
entrepreneur will invest his or her personal savings.

Marketing Strategy: Marketing through social media, Youtube, Website, leaflets, billboards,
radio, television commercials and campaigns will be introduced by Pooper.
 5

Customer Focus: Using analytics, feedback-system in the social media page and website to
know about the customer response.

Applying techniques for competitive analysis to justify how to achieve

competitive advantage
Before entering any market, an organization must research properly and understand the overall
position of the industry so that it can perceive the accurate competitive advantage to sustain in
the market. Porter’s five forces model is the tool by which an organization can evaluate the
position and structure of the industry and implement the accurate organizational strategy to attain
a strong place in the market (Datta et al, 2015). As a new venture, the competitive advantage of
Pooper is evaluated by applying Porter’s five forces model-

Figure 1: Porter’s Five Forces Model

Source: (Michaux et al, 2019)

The threat of new entrants: The threat of new entrants is always a lot in the paper industry. But
Pooper is a venture that has come up with something new and so it may take the market to accept
it. Moreover, this business needs a big amount of initial investment, in fact, a huge amount of
 6

expenditure is needed to launch and promote this kind of business. So it is not easy to get into the
business which means the entry barrier to this business is quite high.

Bargaining power of suppliers: In the paper industry, the suppliers who provide the raw
materials have a very strong standing. But in the case of Pooper, the core raw material will be
human poop which is highly available. It can be easily collected from various sources and with
the course of time the suppliers, in this case, can be easily replaceable as well. Another material
which is vegetables can also be collected through a variety of suppliers. So the bargaining power
of the supplier in this particular business is comparatively low.

Bargaining power of buyers: The buyers are one of the most important determinants in the
success of a business, The buyers always want to purchase better products at the minimum price.
As Pooper is going to make environment-friendly by recycling wastes, it is estimated that the
production cost will not be high. As a result, Poopers will be able to sell products at a minimum
rate and the buyers will not get a similar type of organization to sell similar products much. As
an outcome to it, the buyers lose their bargaining power.

Threats of substitutes: In the paper industry, the threat of substitute is considered to be

moderate. Poopers is a new venture to sell eco-friendly paper and products made of papers. So
the possibility of bringing out its substitute products is average.

Degree of Rivalry: Pooper is an organization to launch paper made of poop in the UK. As per
the research, there is no organization to use human poop and vegetables to make paper yet in the
UK. So it can be said that there is no rival of the organization yet. However, with the gradual
increase and spread of business, it is expected that many rivals will get into the field.

Discussing the strengths and weaknesses of Pooper and determining the areas
of risk
SWOT analysis is known as a technique that enables an organization to gain in-depth knowledge
about its strategic position through the evaluation of its internal and external trends. As Pooper is
a new company, it must know about its positive and negative determinants through SWOT
analysis. The description of the analysis is given below-
 7

Figure 2: SWOT Analysis

Source: (Gurel & Tat,2017)

Strength: Strength is known as all the positive trends of the inner organizational environment
that enable it to raise its production by the perfect use of the resources and create better
competitive value (Zhao et al, 2015). Some of the strengths of an organization can be capital
structure, better liquidity position, experienced employee, etc. As a new venture, Pooper also
possesses a few strengths which will help it to achieve the organizational target. Optimum capital
structure, innovative and eco-friendly product, etc. can be signified as its strength.

Weakness: Weakness is considered as the negative internal determinant that creates a disparity
between the actual and estimated performance of the organization by creating obstacles in the
way of using resources and performing well, such as- fake news, scandals, products without
differentiation, and so on. In the case of Pooper, the weakness in the organization is the lack of
experience in this particular arena of business.

Opportunity: Opportunity is the positive outer trend that creates a variety of new base for the
organization to grow and enhance its performance. Adopting better branding strategies,
recruiting new minds, etc. can be opportunities for an organization. Pooper has various
opportunities ahead, like- hiring experienced employees, strengthening brand identity, etc.
Besides, as an eco-friendly product, it has a great opportunity for expanding business globally.

Threat: Threat is known as the negative external determinant which hinders an organization to
flourish and puts a harmful impact on organizational performance and growth. Price war, unable
to recruit skilled employees, etc. are some of the threats. Pooper may face threats of new rivals,
 8

the inability to gain customer attention, etc. at the beginning of the business. Besides, the
religious belief of people of not using products made of human poop might be another barrier in
this business.

The area of risk:

Due to COVID-19 issue, there are so many societal and environmental barriers in the UK
industry, Moreover, Pooper might face problem to widespread the business globally due to
Brexit issues. The political unrest is another risk factor for Pooper.

LO2:
P4. Assessing the skills and capabilities required to launch a new venture and
the way these skills are acquired
An entrepreneur must have a few qualities that will help to organize the structure and overall
operations of an organization so that the objective of establishing the business is gained. In the
case of launching a new venture, an entrepreneur must have the capabilities to run successfully
the business and have the strength to handle the unwanted situation. The skills and capabilities
that an entrepreneur must possess are briefly discussed below-

Management Customer
Planning Sales Communication
skills focus

Figure 3: Skills and Capabilities of An Entrepreneur

Source: (Smith, 2016)

 9

 Planning: Planning in a perfect manner is the first and foremost requisite of launching a
new venture as the business will not be able to establish if there is no accurate plan. So an
entrepreneur must be able to make an accurate plan, stand by his or her decision related
to the plan and take the risk in this regard.
 Sales: An entrepreneur must have the skills to sale its products to the customers because
it will help him or her to create a loyal base of consumers. Implementing a strong
marketing strategy will help him or her to bring customers but only the sales skills will
enable to convert the customers to the permanent ones.
 Management skills: This skill represents the ability to oversee the work of others to
attain the organizational purpose. Through this skill, an entrepreneur motivates others to
work properly, maintains the organizational coordination and keeps control over it. It also
helps an entrepreneur to cope up with the ever-changing situation as well.
 Communication: One of the most important skills to develop coordination in the
organization is communication skills as it enhances organizational performance through
the perfect interaction. It helps an organization to create dedication among employees and
enables to deal with the suppliers and buyers properly.
 Customer focus: An entrepreneur must focus on customer choice and feedback, not on
the amount of purchase they do (Smith, 2016). So, he or she will be able to understand
the arena where the business strategies need to be changed to bring customer delight and
so focusing on customers’ appraisal and the complaint is highly important for an
entrepreneur.

The capabilities of launching a new venture can not be acquired overnight. Lots of hard work
and patience is needed in this regard. There are various effective ways of acquiring these skills
and abilities and some of them are discussed below-

 One can take part in various mentorship programs in order to get knowledge about the
activities that are required in establishing a new venture.
 There are various online courses and webinars that are helpful for developing skills for
launching a new business plan.
 Working as an intern under an entrepreneur, one can enrich his or her experience and
knowledge in this field.
 10

 Joining seminars, volunteer activities and professional groups, one can learn the skills
required for becoming an entrepreneur.

Thus the skills and abilities can be gained to make the best possible plan to establish a business
and gain success.

Exploring the range of skills and capabilities that are required for the launch
and critically assessing the ways of acquiring the application of the
appropriate method
The capabilities required for the launch:

There is a range of skills and capabilities that are needed to launch a new venture like Pooper.
Yet there are a few ones that are a must to make the best possible business plan. In establishing a
new venture like Pooper, an entrepreneur has to possess a few characteristics so that an accurate
implementation of the idea is enabled. Some of the skills are discussed below-

Firstly, an entrepreneur must be able to make the plan estimating risk and other factors (Tukker
& Tischner, 2017). In a business like- Pooper, the estimation of risk and probability of
acceptance is highly needed to sustain in the market.

Secondly, an entrepreneur must have the ability to coordinate the departments and motivate the
employees to achieve goals. In the new ventures like- Pooper, the entrepreneur must assure the
perfect cooperation of the employees and have full control over them.

Thirdly, an entrepreneur must know how to interact with people and maintain a good
relationship with everyone as it helps him or her to communicate with suppliers, customers and
employees in a perfect manner. In Pooper, this quality is a must for the entrepreneur to sustain in
the market.

At last, an entrepreneur has to focus on customer delight, not their payment. In the business
organization like- Pooper, the entrepreneur must give emphasis in evaluating the customer
feedback as it will help him or her to make a loyal customer base.
 11

The ways of acquiring the skills:

There are many ways of attaining these types of skills for an entrepreneur and implement them in
the planning. The entrepreneur of a new venture like- Pooper must follow online tutorials,
Youtube documentaries, courses to gain initial knowledge. Then he or she can join seminars,
leadership programs to gain practical knowledge. At last, he or she can join for an internship
under another entrepreneur for attaining experience. Thus the gained knowledge will help him or
her to establish the launch.

LO3:
P5. Explaining different promotional activities and channels that will support
the launch and justifying their choice
The promotional activities of Pooper must be highly attractive towards the customers as it is a
unique and new product in the market and needs acceptance from the consumers. So a massive
promotion is needed to attract customers. As mentioned earlier that the target market will be the
general people, especially the one who loves to use environment-friendly products and the
objective of the company is to increase organizational potentiality by selling eco-friendly and
recycled products. Pooper must arrange massive promotional events to get the utmost attention
of the target audience, especially, it should emphasis on its pre-launch promotions because it will
enable customers to know about the brand identity. Moreover, the after launch promotions will
widespread the brand name all over the UK. They can adopt the promotional mix process to
attract customers.

The marketing mix is regarded as the process by which a company is able to promote its product
in the market in order to gain customer response (Ginsberg & Hasan, 2015). The marketing mix
strategy is highly applicable in this kind of business and so it is discussed below-
 12

Figure 4: Promotional Mix Strategy

Source: (BURNS, 2014)

The above figure shows the five phases of the promotional mix strategy and Pooper can use it in
its regular organizational promotion. The pre-launch activities might be a little different, yet the
organization can follow it to get the best possible outcome. As a new company, the first year of
the business might need more strong events, gradually it will carry on the above-stated steps.

P6. Developing an appropriate promotional activities plan for both launch

and pre-launch
Pooper which is a new venture must ensure a strong promotion before and after the launch of the
product. The activities are described below-

Pre-launch activities:

Before launching the product, Pooper must ensure that people know about their brand coming
into the market so that at least they get an idea about its features. Some of the pre-launch
operations of Pooper are-
 13

Pre-launch date: July 18, 2020

Venture name: Pooper

Location: 36-A Liddington Road, London, United Kingdom

Promotional logo: It can widespread this campaign through social media to get more response
from people and make them conscious about the environment. The logo used in pre-launch is
shown here-

Figure 5: Pre-launch logo of Pooper

Source: Self-designed

Webpage domain: https://pooper.myventure.com/

Objectives: The objectives of pre-launch activities are-

 Evaluating the interest and choice of the target market.

 Getting feedback from the consumers so that product’s popularity can be judged.
 Attracting the target audience towards the product.

Promotional campaign: The promotional message of Pooper is “ Use Pooper, Save Trees”

Promotional product: Paper

 14

Pre-launch promotional budget:

Table 1: Pre-launch budget

Source: Self-designed

Promotional activities: The promotional activities to make the best possible use of the best is
described below-

 Free distribution: Distributing free paper and paper-made products to various

organizations and educational institutions to get them acquainted with Pooper.
 Promotional channels: It can distribute leaflets and do television commercials. Besides,
radio mentions and using billboards can also be a great promotional strategy.
 Social media and search engine: It can use social media like- Facebook, Twitter,
Instagram, Youtube to promote the product. Besides, it can also contact with influential
bloggers to spread the name of Pooper and its initiative to save trees all over the country.
The search engine keyword optimization is another important approach in promotional
activities.

Launch activities:

The product will be launched through a grand event and then it will carry on the following
activities-
 15

Launch date: July 25, 2020

Venture name: Pooper

Location: 36-A Liddington Road, London, United Kingdom

Promotional logo: The logo that Pooper will use for launch promotion is given below-

Figure 6: Logo of Launch Activities

Source: Self-designed

Webpage domain: https://pooper.myventure.com/

Objectives: The objectives of the launch activities are-

 Creating a strong interaction with the target audience.

 Creating chaos that a strong competitor is entering the industry.
 Maintaining the expectation level of the target audience.

Promotional message: The promotional message in launch activities will be “Use Pooper, Save
Trees”

Promotional product: Paper and paper-made products, like- notebooks, card, etc.
 16

Launch activity budget: Approximately 10% of the total investment is used in the launch
activities.

Lanch activities: The launch activities will include the followings-

 Hiring a social influencer as the ambassador of the brand and inviting him in the event.
 Setting up booths to sell the products at various places.
 Increasing online promotions by providing live videos of launch through Facebook,
Twitter, etc. so that the young generation get connected to it.
 Sharing the launch videos through its website links so that the customer analysis can be
done through data analytics.
 Announcing offers, discounts in the initial 6 months.
 Optimizing the keywords of the search engine so that people get close to Pooper easily.

Evaluating appropriate promotional activities plan for both pre-launch and

launch
The following brief will give an idea about the expected outcome of the pre-launch and launch
activities of Pooper-

Pre-launch activities: The main purpose of pre-launch activities is to attract the target audience
towards the product and ensure that the name of the product gets spread (Hsiesh et al, 2017). It
wants to make the customer wait for the launch of the product so that the launch becomes
successful. Pooper aims to do all sort of pre-launch activities to get a lucrative response from the
customers initially.

Launch activities: The launch will happen with a big event where many other organizational
representatives will be present. The aim of the launch will be to make people aware of
environmental issues and increase the popularity of the brand (Oostebeck, 2015). As a result, it is
expected that the sales of paper will enhance and the organizational goodwill will widespread
too.
 17

LO4:
P7. Producing an itemised cash budget for the pre-launch of Pooper and the
first 12-18 months preceding the launch
The budget plan for pre-launch and launch activities will be determined by analysing both the
income and expenditure of Pooper in the initial 12-18 months. The budget plan is discussed here-

Finances: Pooper which is an organization working not only for profit but also for the benefit of
the environment, many angel investors have shown their interest to finance the organization.
Pooper got £2,50,000 initially from its angel investor. Then it again received an investment of
£1,00,000 from the investor.

Use of capital: A big portion of initial capital will be used to set up the factory, purchasing
machinery and doing pre-launch and launch events. Another portion will be used to give wages
to workers and salaries to employees.

Earnings: It is estimated that approximately 18% of the total investment can be gained in the
first year of its establishment.

Contingency plan: In case, if the price of the equipment increase, John Pearson will have to
invest from his personal savings or take a loan from his friends and relatives.

The budget of Pooper: The budget plan of Pooper is shown below-

Table 2: Initial Launch Budget

Source: Self-designed
 18

Table 3: 18 Months Expense

Source: Self-designed

Table 4: 18 Months Income

Source: Self-designed
 19

Justifying an itemised monthly cash budget showing one-off costs, ongoing

costs and anticipated income post and pre-launch
The above budget shows various expense and costs of Pooper which enables to estimate its
income as well. The pre-launch expense of the organization is a one-off cost that enables it to get
the target market acquainted with the brand name and evaluate their response. Another cost is the
launch event expense which brings long-term benefit for Pooper and it is also regarded as a one-
off cost. The machinery, office equipment, etc. expenses are needed to set up the organization
and so it is considered as a one-off cost as well. The ongoing expenses, like- operational cost,
salaries, wages, etc. are a must to carry on the production of the organization so that it can supply
products to the customers. All these expenses help to estimate the income of Pooper and work to
achieve the goal.

P8. Suggesting an appropriate legal form for Pooper and analysing the reason
for choosing it
A business can be classified in various types on the basis of its characteristics and so there many
kinds of legal forms of business like- sole proprietorship, partnership, limited company, etc. The
sole proprietorship is an organization which is established, maintained and owned by only one
person (Appel, 2017). So it is appropriate for small business, not for a manufacture-based
business like Pooper. Moreover, in this type of business, less capital, limited sources, etc. exist
which is the biggest problem and so Pooper can not be a sole proprietorship organization. The
partnership business is run by more than two people and there exists unlimited liability, less
advancement, etc. (Balthazar, 2015). All these attributes are not appropriate for Pooper.

The appropriate legal form for Pooper can be the limited company as in this category of
business, it will have its own legal entity. Moreover, a manufacturing business needs huge funds
which can be gained through this business type. Here the liability of the owner will not be
unlimited as well (Vanek et al, 2018). So Pooper must get established as a limited company.

Pooper must abide by a few laws and legislature to avoid any legal barrier. As a manufacturing
company, it must abide by the labour law of the UK to avoid strikes and other issues that might
 20

hinder its production. It should maintain corporate law and discrimination law as well because it
will teach it to cope up in the industry.

Conclusion:
The core topic that has been highlighted in this report is the establishing of a new venture named
Pooper which is an organization to produce paper from the human poop and vegetable fibre. This
report focuses on the target market which is the people using eco-friendly products and also
evaluates its competitive position in the industry by Porter’s five forces model. SWOT analysis
has been done to understand its strategic position and the capabilities needed by the entrepreneur
to establish the business has also been briefly discussed here. The initial and after launch
activities and a complete budget plan has also been done to analyse its possibility to sustain in
the competitive business world.
 21

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