New Business Strategies include processes and steps related to timing of entry, scope of entry, marketing practices, patents and licensing, future planning, and proper exploitation of market opportunities (Shepherd and Shanley, 1998 ). Business planning is of great importance for entrepreneurs who want to build start-ups as it refers to a detailed map that can turn an identified opportunity into a profitable business. Furthermore, planning can serve as a useful means of obtaining financial resources for a start-up from individual investors and financial institutions (Baron and Shane, 2008). This report attempts to carry out an in-depth analysis in order to address these issues with the stated objective of identifying the development process of a recent venture, entrepreneurial characteristics, entrepreneurial motivation and ways of protecting innovation, as well as the challenges due to business growth. . Primary research is conducted in the form of an interview with the owner of a recent e-commerce start-up.1.1) OBJECTIVES- The identification and analysis of the development process of a recent start-up.1.2) OBJECTIVES- To evaluate the importance of entrepreneurial characteristics and motivation for starting a business. - Explore the reasons for the foundation of the recent start-up. - Evaluate the future development and growth plans of the recent start-up. - Analyze the development process of the business plan - Evaluate the practices and methods pursued for raising financing - Evaluate the ways to overcome the challenges created with the development of the business. - Identify the steps followed by the entrepreneur to protect innovation 1.3) PRIMARY DAT.. ....middle of paper...... steps Dr. Tsanis has taken to protect his business. Ambition, social skills and intuition proved to be the key characteristics that 'pushed' Dr. Tanis to invent Ven Tribe by investing his own capital to be able to manage control and profits independently. Furthermore, business planning was very important for the entrepreneur as he was able to monitor Ven Tribe's strategy and sales in accordance with the initial plan, thus taking corrective actions by improving Ven Tribe's marketing strategy due to poor actual sales . At this point it was remarkable to extract what is much more relevant and what potential investors really focus on are not the formulas, but the assumptions behind the formulas regarding business plans. Finally, the registration of trademarks and domains has proven to be very significant for the protection of innovation in electronic commerce.