TalkShow - Starting Up A Business

Starting A Business

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Starting A Business - Presentation Transcript

Starting a business
Entrepreneurial Quiz: What do you see?
Why do you want to do business?
Money?
Self satisfaction?
Personal Ambition?
Independence?
…
Delivering Value
Value = Benefit – Cost
Everybody has a potential to deliver a VALUE to others
The next step is how to formalize the VALUE DELIVERY in a form of economic transaction
What’s your VALUE?
Marketing Strategy
Product
Price
Promotion
Place
Entrepreneurship is like a personal adventure novel
Chapters
Entry point
Plots
Climax
Plots make a novel interesting
P/s: Sometimes authors rewrite their plot and storyline. So, it is natural when you have to revise again and again until you are firm with what you really want to do
Basic Entities
Common Business Entities
Enterprise
Personalized form of business
+: Easy,cheap,simple
-: Small scope, limited opportunities
Private Limited
Structured form of business
+: Bigger scope, more opportunities
-: Increasing Managerial work
Co-operatives
+:Benefits for members
-: Less dynamic
Capital Resource
Personal savings
Loans
Informal
Institutional
Government Scheme
Business Network
Consignment
Trade associations
What’s the best way to start?
Be at the RIGHT PLACE at the RIGHT TIME
Q: But how do I know it is the RIGHT PLACE and the RIGHT TIME?
A: Apply “Competitive Intelligence” skill
Q: If I couldn’t find them?
A: Create them!
Managing a business
Business is a system
“ The strongest part of the system is its weakest part”
Financial, Accounting, Operations etc
All system components must be well-managed
As you scale up, your knowledge/skill acquisition must accelerate as well
Teamwork
Outsourcing jobs
The challenge?
Be prepared to face the ‘ups and downs’.
“ Challenges are there for those who uphold the Sunnah”
“ Ikhtiar, Doa and Tawakkal”
An Open Secret of Success
Clear Vision – Be what you want to be
Structured – Build your ‘storyline’
Discipline – Establish rules and follow them
Dedication – Give commitment
Dynamic – Continuous improvement
My business venture experiences
Tuition Service
Creative Artworks
ICT
Training and Motivation
Food and Beverages
Garment
The End