Differences among entrepreneurship concepts

¶ … Entrepreneurship Concepts

The publication of magazines provides the prudent entrepreneur the opportunity to exploit various situations for profit. Yet, to fully understand how this is exploited, requires an examination of a number of different factors to include: opportunity, concept, resources, implementation / growth, and the harvest / exit strategy. In the case of a magazine that is focused on highlighting various HIV / AIDS issues, this means that a focus must be taken from a number of different perspective to include: from that of the entrepreneur with HIV / AIDS, the firms exploiting this issue and from the view of publishing company. You would then, apply the concepts with the above principals, to have a better understanding as to how this issue is exploited for profit. This will provide the greatest insights, as to how to effectively use the magazine to increase profits.

The Entrepreneur with HIV / AIDS

From the viewpoint of the entrepreneur with HIV / AIDS, it is clear that there is a distinct opportunity that can be exploited. In this particular case, the fact that the entrepreneur is suffering from the virus can be used to highlight that they understand the issues, faced by others in a similar situations. This can be used as a way to build revenue drivers by reaching out to those non-profit organizations and those are suffering from the disease. The concept would be: to present these ideas in a unique format that entertain and inform everyone about what is taking place with the current situation. The way that resources would be utilized by this individual is: through various HIV / AIDS non-profit organizations, the community and the local government. The way that implementation and growth would take place, is by building a rapport with this community. This would be accomplished by establishing groups on Facebook / Twitter. Then, you would want to build a rapport with the various non-profit organization and government entities. Together, these different elements would provide a base for building future growth. The harvest / exit strategy would be to continue working with the different organizations and groups until a cure is reached. The overall amounts of revenues would be small in the beginning, yet over the long-term this will increase as various marketing efforts effectively target the HIV / AIDS community.

Firm exploiting HIV / AIDS

In the case of the firm looking to exploit the issue of HIV / AIDS, there are number of different ways this can be achieved. In the case of opportunity, the fact that the virus is continuing to spread, means that an emerging market could be quickly taking shape. This concept can be used to specifically market various products or services to the community. Where, the firm would have greater access to resources, which can help to exploit this issue including: working capital, a large staff of employees and the use of a variety of tools to promote their products / services. The implementation of such ventures will be far easier to begin, thanks to the large infrastructure. The overall costs could be far higher for this entity compared to an individual. The harvest / exit strategy would be to: increase the overall profits as much as possible. Then, once the various products / services have increased in value you would sell these assets. The lifetime of such a venture would normally last for 10 to 20 years.

Magazine Publishing Exploiting HIV / AIDS

As far as a magazine is concerned, the opportunity costs would be a chance to reach and educate the public about the issue. The concept is: to effectively target these ideas towards anyone who is suffering from the virus and their family members. These groups would more than likely be interested in hearing the various ideas presented in the magazine. As far as the different resources are concerned, it is imperative that you identify: key advertisers, how distribution will take place, a publication schedule and various writers / editors that could be utilized. Implementation / growth will depend upon how the product will be produced, how it will be distributed and how will the magazine produce a profit. In this particular case, the cost for production could be completed on a desktop and reproduced. Next, you would have distribution; in this case, the use of: the mail, newsstands and internet would be used to deliver the publication to subscribers. Then, you must determine how the magazine will produce a profit. This could take place, by using a combination of advertising and subscription revenues. Together, these different costs will run approximately $3,000.00 to produce and distribute one issue. The harvest / exit strategy would be: to have the magazine set up to have a continuous life cycle. Once, the magazine reached a total of 4,000 subscribers you could then, reinvest the profits to improve the overall reach of the publication. The way that this would be achieved is by having subscribers pay a fee of: $2.00 for the magazine. This would generate a total of $8,000.00 for the magazine. Then, when you combine this with advertising revenues of $2,000.00; means that the venture could easily turn a profit. To increase the overall profits you can then reinvest into increasing the distribution area of the magazine. (Thomas, 2008)