Adventure Vault - Entrep Project

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Adventure Vault - Entrep Project by Mind Map: Adventure Vault - Entrep Project

1. Models for Analysis & planning

1.1. Timmons model of entrep process

1.2. PESTEL

1.3. Innovation & Life cycle Analysis

1.3.1. See opportunity Assessment report

1.4. Porters Five Forces

1.5. The Lean Startup - Eric Ries

2. Problems Solving / Value Propositions

2.1. Quality specialised adventure and water sports products in one place

2.2. Affordable pricing to open products up to broader market - currently unaffordable for most

2.3. Products that aren't currently available in the Australian marketplace

2.4. Build a community around passion for adventure and water sports which you can access when become a customer

2.4.1. ORU Kayaks great example

2.5. After sales support to get the most out of specialised products

2.5.1. Discussion forums

2.5.2. Newsletter subscriptions

2.5.3. First access to new product releases

2.5.4. Periodical product demos/lessons in certain locations

2.5.4.1. Lessons and demos could be in the form of online videos

2.5.5. Access to "member" discounts and offers

2.5.6. Marketing Innovation - Different way of marketing the products

3. Assessment 2 - Research Paper Components

3.1. Environmental Analysis

3.1.1. Detailed competitor analysis with potential case studies

3.1.2. PESTEL

3.1.3. Porters Five Forces

3.2. Legal Analysis

3.2.1. See key research areas

3.3. Success factors for the sport and Recreation Retailing Industry

3.3.1. See IBIS report saved in chrome

4. Assessment 3 - Major Deliverable Components

4.1. Executive Summary & Introduction

4.2. Product & Opportunity Summary

4.2.1. See separate value propositions section of mind map

4.2.2. See seperate branding ideas

4.3. Industry Analysis / Environmental Analysis

4.3.1. Focus on legal analysis

4.3.1.1. Products meeting AUS standards

4.3.1.2. Product liability implications + safety information

4.3.1.3. Legals associated with importing

4.3.1.4. Product warranties

4.3.1.5. Address IP Implications

4.3.2. Look at opportunity assessment slides

4.3.3. Porters Five Forces or PESTEL?

4.3.4. Market Size analysis

4.3.5. Inclusion of research paper PESTEL analysis

4.4. Competitor Analysis

4.4.1. Defined metrics to make comparisons on

4.4.1.1. Price + quality + warranty + shipping times + after sales service are key metrics

4.4.2. Competitors

4.4.2.1. FliteBoard

4.4.2.2. Jet Surf US

4.4.2.3. Address competitive advantages

4.5. Customer Analysis

4.5.1. Customer segmentation on multiple dimensions

4.5.2. Sell to experience/tour operators to supplement their existing experiences

4.6. Marketing Plan Summary

4.6.1. Look at NVM slides

4.6.2. Uni marketing text books

4.6.3. 7 P's

4.6.3.1. See notes discussed in class RE 7 P's

4.6.4. Marketing Communications & Distribution Plan

4.6.4.1. Marine & Camping/Recreation Expos/Shows

4.6.4.2. Give products to influences for return content and promotion

4.6.4.3. Packaging smaller products with bigger ones

4.6.4.3.1. 4X4 SuperCentre Perfect example of this

4.6.4.4. Water Sports / Adventure Sports event sponsorship

4.6.4.5. Lend products to journalists for free editorial in key industry publications

4.6.4.6. Use SEM & SMM to target water sports segments super cost-effectively

4.6.4.7. SMM Competitions with products encouraging viral marketing

4.6.4.8. Pricing

4.6.4.8.1. Look at unit pricing + shipping + import costs etc

4.6.4.8.2. Compare pricing with different suppliers and competitors

4.6.4.9. Buyers Journey / Cycle Mapping

4.6.4.10. Buyer Utility Mapping

4.7. Growth Strategies & Success Indicators

4.7.1. Bundling smaller products with bigger ones as packages to increase each sales value

4.7.1.1. 4X4 SuperCentre so this very well

4.7.2. Influences

4.7.3. Strong digital marketing campaign

4.7.4. Key distribution partnerships

4.7.5. Becoming distribution partner for other brands / specialized products without AUS distributor

4.7.6. Demos/Shows

4.7.7. Strategies to encourage repeat purchasing behavior

4.7.8. Future events sponsored by the brand - e.g. Yacht Week style event in Whitsundays

4.8. Risk Analysis & Controls

4.8.1. Use SWOT & TOWS Analysis

4.8.2. Address IP Implications

4.9. Human Resource Plan / Team - if needed?

4.9.1. Management + Mentors/Advisers

4.9.2. Culture & Ethics

4.10. Operations Plan

4.10.1. Key operations processes

4.10.2. Key milestones

4.10.3. Logistics plan associated with importing - mapped processes

4.10.4. Platform/software to be used

4.11. Financial Plan

4.11.1. NVF Slides

4.11.2. Revenue Model

4.11.3. Income Statement / P&L

4.11.3.1. Use Tech Comms Template? Or NVF template?

4.11.4. Balance Sheet - if needed?

4.11.5. Cash Flow Statement?

4.11.6. Address Exist strategy

4.12. Assumption mapping & assumption testing strategies

4.12.1. Use Jovannas assumption mapping tool

4.13. Timeline on priority tasks to be completed and assumptions to be validated

4.13.1. Use Monday?

4.13.2. Steps to be taken in each planning area + learning about and testing assumptions

4.13.3. Include key goals

4.14. LEAN Canvas

4.14.1. Stratagyzer

4.14.2. Canvanizer

5. Reference Ideas

5.1. Look at NVP sources and major assignment

5.2. Eisenhardt

5.3. Look at NVP sources and major assignment

5.4. Yin?

5.5. Look at state and national marine & water sport associations

5.6. Federal & state government documents on marine industry/sector

5.7. Adventure Capitalists Show

5.8. Primary research from research methods below

5.9. Business Model Workshop #1: Nathan Furr

5.10. Paper - failure by design

5.11. Legal

5.11.1. International Comparative Legal Guides

5.11.2. ACCC

6. Research Methods

6.1. Interviews

6.1.1. Karl (E-commerce)

6.1.2. Hermina (Marketing)

6.1.3. Bill (Legal)

6.1.4. Matt McKinlay (Planning)

6.1.5. Bob - Marine Expert

6.2. Surveys

6.2.1. Research Good Practice

6.2.2. Use online platform

6.3. Competitor Testing

6.3.1. e.g. Gold Coast Water Sports

6.4. Running test ads on online platforms for products

6.4.1. Ebay

6.4.2. Gumtree

6.4.3. Facebook Marketplace

6.5. Contact competitors for quotes and info

6.6. Develop landing pages for traffic testing

6.7. Go to places with prospective market and analyse target market characteristics

6.8. Check exhibitor lists at all major boat shows in AUS for competitor analysis

6.9. Analyse products and packaging of products purchased from similar businesses - e.g. 4X4 Supercentre & Captain & son

6.9.1. Look at warranty and product safety info provided

6.9.2. Look at loyalty programmes and how encourage repeat purchasing behaviour

6.10. Use Google Trends to see volume around various queries

6.11. Discussions with potential manufacturers & suppliers

6.12. Case Studies

6.12.1. ORU Kayaks

6.12.2. Pack Rafts Australia

6.13. Online Facebook & Instagram communities and pages

6.14. Have a look at similar product packaging for safety info/marketing

6.15. ABLIS - government legal info and liscense requirements

7. Key Research Areas

7.1. Marketing - content, guarillia, buzz and viral marketing

7.2. State of e commerce

7.3. Doing business with asia

7.4. Top water & adventure sport states/regions and trends

7.5. Community & Cultural Entrep

7.6. Success factors for the sport and Camping Equipment Retailing Industry

7.6.1. See IBIS report saved in Chrome

7.7. Building online communities

7.8. Drop Shipping

7.8.1. Pros & Cons

7.9. Comparative study around different e-commerce platforms

7.9.1. Neto

7.9.2. Square Space

7.9.3. Shopify

7.9.4. WooCommerce

7.9.5. BigCommerce

7.9.6. Amazon

7.9.7. Ebay Busienss

7.10. Legal - related to products and importing

7.10.1. Legals associated with product liabilities and warranties

7.10.2. Legals associated with importing

7.10.2.1. Look at Pack raft Australia example

7.10.3. Meeting AUS Standards

7.10.4. Legal implications of product liability - injury, death, damage of property

7.10.5. Permits and certifications required

7.10.6. Legals associated with AUS product distribution