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Från innovatör till entreprenör

Authors
Publisher
Lunds universitet/Produktionsekonomi
Publication Date
Keywords
  • Business Planning
  • Online Gambling
  • Entrepreneurship
  • Innovation
  • Technology And Engineering
Disciplines
  • Communication
  • Economics

Abstract

Background: Many people are tempted to start their own business. The personal driving force varies but in most cases it’s all about making money. But it doesn’t always have to be for that reason alone. Maybe you want to take initiatives to changes, separate yourself from the crowd and take risks. Many people also like that they can be their own boss. These driving forces led to our own interests in entrepreneurship. The way into the labour market doesn’t necessarily have to begin with an employment at an existing company if you are a graduated student. To be an entrepreneur is about having ideas and to take them into action. With this work, we want to help those who are interested in entrepreneurship like us, and to successfully make their business ideas reality. In order to apply the theory in the essay and to describe a real case we wrote a business plan for one of our own business ideas. A year ago we started a company called LeanDev Entertainment along with three friends. After several years of experience with online poker we discovered different game types that doesn’t exist on the internet today, but are still very popular. Therefore we wanted to examine how we could manage those ideas and examine the interests for the new game types among the existing online poker and online casinos players. We also wanted to analyze different types of marketing methods in order to find cheap and cost-efficient alternative to minimise the marketing budget that often demands a lot of money, especially in the first phase when you introduce new services or products. Purpose: To chart and analyze the way from innovation to entrepreneurship. Also write a business plan with the purpose to investigate if it’s possible for LeanDev Entertainment to enter the online gambling market. Method: We studied theories in how business ideas evolve in companies with the need of invested capital. We tested our own business idea in the different stages of the innovation process with the starting point in the innovation and with the goal as an established gambling site on the online gambling market. We used a quantitative method in the form of a web survey to investigate the potential market of the new game types. Information was gathered from web pages, prior courses, annual reports, newspapers and other literature. Conclusion: To go from innovation to an established company on the market is a long journey but with the position that there are four phases to review, many mistakes can be avoided. The phases can also be used as a map to see the progress of the project. In the first Background: Many people are tempted to start their own business. The personal driving force varies but in most cases it’s all about making money. But it doesn’t always have to be for that reason alone. Maybe you want to take initiatives to changes, separate yourself from the crowd and take risks. Many people also like that they can be their own boss. These driving forces led to our own interests in entrepreneurship. The way into the labour market doesn’t necessarily have to begin with an employment at an existing company if you are a graduated student. To be an entrepreneur is about having ideas and to take them into action. With this work, we want to help those who are interested in entrepreneurship like us, and to successfully make their business ideas reality. In order to apply the theory in the essay and to describe a real case we wrote a business plan for one of our own business ideas. A year ago we started a company called LeanDev Entertainment along with three friends. After several years of experience with online poker we discovered different game types that doesn’t exist on the internet today, but are still very popular. Therefore we wanted to examine how we could manage those ideas and examine the interests for the new game types among the existing online poker and online casinos players. We also wanted to analyze different types of marketing methods in order to find cheap and cost-efficient alternative to minimise the marketing budget that often demands a lot of money, especially in the first phase when you introduce new services or products. Purpose: To chart and analyze the way from innovation to entrepreneurship. Also write a business plan with the purpose to investigate if it’s possible for LeanDev Entertainment to enter the online gambling market. Method: We studied theories in how business ideas evolve in companies with the need of invested capital. We tested our own business idea in the different stages of the innovation process with the starting point in the innovation and with the goal as an established gambling site on the online gambling market. We used a quantitative method in the form of a web survey to investigate the potential market of the new game types. Information was gathered from web pages, prior courses, annual reports, newspapers and other literature. Conclusion: To go from innovation to an established company on the market is a long journey but with the position that there are four phases to review, many mistakes can be avoided. The phases can also be used as a map to see the progress of the project. In the first phase the business idea is born and if weakness is found already here, they must be cleared or in worst case the project must be expended. The first three questions that must be answered in this phase are: Which is the customer value/ the unique selling proposition? Is there a market for the idea? Can you make money on the idea? If there are no good answers to these three questions, it’s most likely that the business concept has no potential. The second phase is the business planning and it is to be characterized of the writing of the business plan. A more detailed description of the business idea is made and an action plan is plotted. A well ensembled management group is extra important here, so the company sets course in the right direction. It’s also important to know that a business plan is something that never becomes complete. Internal and external factors constantly change the conditions. In phase 3: initiation and expansion phase, the company will enter the market. The last phase is an established company on the market. In the last two phases, a dynamic company is important so that it can react fast on market threats like growing competition, new laws etc. Now the company is no longer classified as a risk object and the owners and financers can choose to do exit or to continue within the company. Regarding our business plan we estimate that there is an interest in the new game types both among casino- and poker players. Internet is the outstanding marketing channel to reach out to the existing casino- and poker players in the cheapest way, where “buzz-marketing” and networking are the most efficient ways to attract players to our game site. Regarding weather or not to put our business idea into effect we conclude that innovation and cheap marketing methods alone is not enough to succeed. Marketing also requires a big amount of money since the competition is growing more intense and the barriers of entrance have been raised. To cooperate with existing online gambling companies is a considerable alternative since we then would be able to enter the market faster and have access to greater resources.

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