Entrepreunial Project- Value Proposition Business & Marketing Essay

Be realistic in what you can do with £3000 for devising your customer engagement test.
Always consider how you will reduce customer information asymmetry in order to overcome their purchase reluctance.
Conceptualise next steps towards start-up
You are NOT required to create a conceptual business plan. Please don’t focus on creating a conceptual business plan .
Instead, you are required ‘conceptualise and take action’. Action-taking generates outcomes which provide rich information that you can learn from.
We anticipate that you have not yet started a business. If you have started a business, then you are required to demonstrate how you will change/enhance the business in an entrepreneurial manner.
conceptualise how you would create one more pre-launch test; a customer engagement test.
You will be given an imaginary £3000 to fund their conceptual customer engagement test.i
therefore explain what is already known and what you will now do to attract first customers using the imaginary £3000.
BASED ON THIS IDEA :
Campaign Video URL - https://www(dot)youtube(dot)com/watch?v=ZN77KMQOXmg
Our mission and value proposition
Our mission is to build a network of people who are willing to exchange skills with each other. We offer a value proposition in the form of a website where users are able to receive and gain skills effectively and at an affordable price. The platform is based on location which allows you to find a person with desired skills around you. The skills which are available are grouped into categories and can be accessed through the “skills” tab on the navigation bar of our website. In order to make sure that all desired skills are available, we have provided a “request a skill” form which can be easily filled in and sent to us allowing us to expand and update our skills category making it more user friendly.
Our users
Our target audience are people aged 16 years and above. Our platform seeks to keep users active as we are using a barter system where users exchange skills with each other so they are essentially using their time in hours instead of payment. However, if the situation occurs where you want to learn a skill from someone else, but that person doesn’t want to learn your skill, you will go into the negative balance at a maximum of -5 hours. However, this situation can only happen on one occasion as the idea is to exchange your skills with each other, otherwise your account will be frozen from learning skills from anyone else. In order to unfreeze your account you will have to make up the hours by offering your time of teaching skills to others.
Furthermore, the quality of users are assessed based on three factors: their activity, ratings and qualifications. We are also categorizing them using four titles which are: beginner, intermediate, advanced and master. Beginner is a person who has just started using the platform. In order to progress and become intermediate, users will need to add a profile picture, receive a minimum of 5 positive reviews and have been registered for 3 months. Once they have 10 reviews and are active 5 times a month, they will become advanced and once they have reached 20 reviews and are active 10 times a month, they will be in the master’s category. The title is dependent on the activity of users and can be lost if the activity requirement is not fulfilled. Furthermore, it essentially categorizes it by how much a lesson of that skill is worth. For example, users who are advanced or masters, who would usually charge more for teaching their skill are able to set their own hour pricing and agree on that with the learner when arranging an exchange. Also, users can add their certificates, qualifications and awards to their profiles to show their level of experience and improve their credibility. Another feature which makes the users more credible are positive reviews. Users can rate each other out of 5 stars showing how satisfied they were with the service which will show their overall average and is displayed on their profile.
Our pricing
Once registered, users will have an option to share the link and logo of our website on social media in order to get the first 3 months of using our website free of charge. This help us to gain a wider user base on our platform and also gives us free advertising saving us money and time. Our service is going to be subscription based via three packages which will be £4.99 per month, £24.99 for 6 months and £49.99 for 12 months. 

Business Proposal & Report Marks  AvailableCommunication & Presentation  Overall effectiveness of communication- the report is integrated, logical and easy for your tutor, but also a potential external investor, to understand. Inclusion of an Executive Summary Table of Contents  Referencing that is appropriate to support a claim you make Relevant and clear appendices where appropriate Not included in word count 10Analysis of current situation- 'learn' cycle or Reflection.  Where are you now (reflective analysis)?  What do you feel confident about?  What do you think is right or wrong about your analysis of the opportunity and your VP to capture it?  What don't you know or understand yet?  If after Task 2 you hove received information that makes you realise you need to change, then discuss why you no longer have confidence in your Task 2 VP. 20Creative changes to the Value Proposition (new cycle of 'build')  Explanation of the changes to the VP following Task 2- your latest thinking on the optimum customer, how your offer will solve their problem, and what added gains it will now provide for the customer  If after Task 2 you wish to change your VP, then this is where you discuss what you are changing.  Discussion of rationale for changing the VP in relation to the feedback from tests- why have you made changes? 20Explanation of how you will use the Seed Funding for your customer engagement test  Using your imagination and benchmarks from other start-ups you must now look ahead into the future and devise a new test 50

Describe the test Explain what the test will achieve with support from literature if required Explain how you will attract your first customer(s) with your enhanced or revised VP- what will you need to demonstrate to potential customers? How will you measure the success of your test? How will you allocate your £3000? Provide a clear financial statement (this could be a list or a cash flow statement) with cost allocation to all your activities in this cycle How will you manage your personal living costs or are you taking these from the £3000?