To Take Advantage of Opportunities Essay
He has the ability to Identify and take advantage of a succession of opportunities In Its environment: by reading the book “Trading up” he identified a demand for new luxury goods; by talking with the hygienist, he decided to focus on pet food industry; thanks to its market research and attention to pet shops environment, he pinpointed the new “out-of-home” dog- related product category, and finally by watching a dog drinking in a park he decided to launch portable drinking water product for dogs.
The “Pup Cups” product is the mall strength of Davit’s new venture: It Is a totally new product, first In the new “out- of-home” category. However there are several reasons why David is so nervous taking the plunge. Firstly due to weaknesses in his Business Model: it has only one product line, no infrastructure and no distribution channel. Secondly, there are threats in the equines environment, such as big players in the dog food industry likely to launch a product before him. The previous SOOT analysis emphasizes a lack of resources and capabilities, essential to start the new venture.
Moreover, we need to take into account personal factors: David has grown up since the opportunity he had to launch a new venture after completing its MBA. He now has a good C.V., a brilliant career of consulting: resigning would imply a loss of comfort for instability and risks. Once one is involved in the career development process of companies, it’s hard to stop it. Thereby many factors suggest David shouldn’t give a call to his boss. However, despite every risks, I would encourage him to make It.
He Inherited the entrepreneurial spirit from his father and launching his new venture became an obsession as “the corporate world suffocated him”: he missed the opportunity once and everyone Is entitled to a second chance. But in order to fulfill his dream and to grow in his personal life, David will have to review the steps he followed if he wants its new venture to succeed. Firstly, if the “newness” of his value proposition is interesting, It Is still a hypothesis, like all his Business Model: he needs to turn his guesses Into facts by talking to customers.
He will have to go through the Customer Development process to determine the minimum dog-related product features most valued. Secondly, he has to think twice about the way he’s going to reach his customer segments: as partnership with retailers stores seems difficult, he might consider web sales for instance. Thirdly, as the lack of resources is an obstacle to his business development, he should consider strategic alliances, for instance with a ant drinking water bottle seller, In order to outsource distribution. Fourthly, one major Issue Take Day David Is money.
He Inane needs Tunas to “survive” Ana to start his business: he may have had difficulties to persuade investors but with his redefined Business Model, after a primary market research and technology centralization achieved that should be easier. Finally, I would like to point out David is quite “solo” in his project. Of course he has his main partner, but he should develop relationships with people outside his social network, for instance banks and tragic partners – to illustrate the above points – but also customers, industry analysts…