Start Business Development Journey

This article covers business examination. It is first steps to business development journey. To begin business development, we need to examine our business condition. No the development plan that fits all condition.  You already have the progress of business development, so you just fix the missing. We start to examine:
  • your company profile
  • Segment market
  •  business model to serve your market and get profit
  • team support
  • marketing plan
  • management and
  • continues improvement.

Your Company Profile Today

  • What is your company name
  • Company Address
  • Company mission and mission
  • When your business start
  • Business type: Franchise  or you build your own
  • Business type:  retailer, producer, distributor?
  • Industry type
  • Market segment you serve
  • products and services that you offer
  • percentage of the end user and business customer
  • structure organization
  • the quantity of team company
  • Top 5 Important things in your business
  • your performance for your top 5 important things
  • Do you apply bookkeeping and accounting?
    • Your Profit Loss Financial Report in last 5 years
    • Your Balance Sheet in last 5 years
    • Cash flow statement
    • aged debtors listing
    • aged creditor listing
    • sales analysis
    • inventory
    • Others
  • How often you update your financial status? daily, weekly, monthly, yearly
  • Do you have the business plan or business model canvas

Your Private Goal in Your Business

  • Your job, status, and role in the business
  • Your salary: fixed salary and variable salary
  • Your non-financial benefit in the business
    • why you enjoy or like  your business
  • 3 thing most frustrated things in your business
  • Time spend in the business
    • time for production
    • Time for team building
    • Time for marketing
    • time for administration

Market and Products

  • Your Criteria to target customer segment
  • Who is the best customer? What are your criteria
  • customer segment that you target
  • products and services categories do you have
  • your competitor can and easy to imitate or not
  • your sales per categories products and products per annum
  • sales trend per categories products and products
  • do you regularly hear customer feedback about products, service
  • Why your customer buy  (reason)? eg, quality, service, function, price.
  • Why your prospect does not buy (reason)
  • What is your value proposition
  • Major customer disappoint about your business
  • The quantity of Total customer
  • Total customer retention
  • Total customer repeat
  • Do you have customer lifetime value
  • Average how many

Competitor

  • How many Competitor that your customer can access
  • How many businesses that offer replacement items
  • Comparison of your business and competitor in term turnover, brand, capital, cost, profit, skills, service etc.
  • Common competition basic in your industry
  • Your competitive advantage

Finance

  • Total income per annum
  • Total expenditure per annum
  • Gross Profit per annum
  • Fixed Cost per annum
  • Variable cost per annum
  • cash flow statement

Entry and Exit Barrier

  • startup capital
  • skill to run the business (production, marketing, management)
  • license to run business
  • Attractiveness and main advantage of business
  • Cost for exit barrier
  • Difficulty to enter an alternative business
  • Difficulty to get material, supplier  and qualified people

Team Empowerment

    • Customer Orientation level of team
    • Trust and service culture
    • Recruitment procedure and consideration
    • The main difficulty to recruit
    • Team Training
    • Training and orientation for new employees
    • regular training for old and new employees
    • Written and clear job description
    • Key Performance Indicator of team training
    • Main training problem
    • Performance target for each member or team
    • The main indicator of the performance of each member, division, and team.
    • How to measure their performance
    • satisfaction level of the team member for their job and remuneration (salary)
    • How business give remuneration
    • How often to review remuneration
    • The non-financial reward for good performance for the team member
    • Profit share scheme and incentive for a team
    • What is the area of team participation in management?  product development, market development, strategic management, finance management.
    • regular team meeting and team feedback channel
   

We are Deserve to Start Big Business Journey

Before to start a business idea, sometimes we have an idea that supports and against. Maybe you think that is impossible. Consider that if you didn’t do anything, nothing is possible.

See your mind before it turns into concentration.
Pay attention to your concentration before it turns into a feeling.
Observe your feelings before they turn into behavior.
Heed to your behavior before it turns into a result.
Take notice of the results you can before determining your way of life.

You are not a label that you own by yourself, not a label that someone else puts up.
Human is not sadness, anxiety, worry, frustration or failure.
We are age, weight, body shape or your skin color.
Thou are not past, present and future.

You are the best creature by God.
If there are people who can make something happen in the world, you can definitely make it happen, even better.
Remember the night is the beginning of the day.
The dry season is the beginning of the rainy season.
Suffering is the beginning of peace.

An obstacle is the beginning for good.
The optimistic attitude to goodness is the beginning of self-power.

Therefore, enjoy every moment of your time.
Think of it as the final stage of your life.
Live with love to God.
Savor by imitating the Law of Allah’s Apostle.
Relish with dreams.
Experience with the struggle.
Live with patience.
Breathe with love.
Respect life.

Disruptive Marketing in Interactive Communication

Disruptive Marketing is marketing that sensitive to business disruptive.

In previous post I write about fall of market leader, Nokia. Nokia is not alone. Many malls and retail shops in Indonesia are out of business when the market prefers a new way of shopping, which is online shopping. The market much likes to shop through online ordering via a virtual market (marketplace) such as Tokopedia, JD.id, shopee.co.id, bukalapak.com and so on. The world of public transportation is also experiencing similar things. There is a market trend to use taxis and motorcycles with online reservations such as Uber, Gocar, and Grab the mobile application.

The phenomenon of market interest shift over these different product categories is driven by the widespread use of internet-connected smartphones. The impact of information technology is behind the disruption symptoms. Disruptions The old business models are replaced by more efficient businesses with information technology support.

Information Technology Era and Disruption

In today’s information technology era, businesses are required to be sensitive to new categories that can be more efficient and effective that undermine the old categories. That is Disrupt phenomenon.

Students as candidates for business managers are also required to have sensitivity in the midst of rapidly changing situations. Their briefing in the form of lectures and teaching materials material to them also needs to undergo changes or updating taking into account the role of information technology in business.

This textbook is an attempt in that direction, updating the science of marketing by weighing information technology. This textbook offers a more sensitive and flexible approach to changing the business environment. The old marketing concepts are not entirely abandoned because they are still relevant today, but with the use of information technology. There are 3 updates that  I offer.

  • We need to add the idea of Segmentation and Targeting with use of information technology that facilitates segmentation as well as new, unknown targeting methods prior to the widespread of information technology.
  • The concept of Targeting and Positioning is complemented by the preparation of personal and flexible buyer persona and value proposition, given that communication is now more interactive and companies are required to be flexible with changing needs.
  • The competitive advantage not only looks at product characteristics alone but comes with a business model sensitive to new changes.
    With the updating of marketing knowledge, it is hoped that textbooks will be able to adjust to rapid changes and can perform marketing activities more effectively and efficiently with the use of information technology.

That is disruptive marketing that quick respond to market change behaviour.

 

Find Business Ideas That Fit to Your Passion

Imagine you found passionate business ideas.  You start and running a business that follows your passion.  Even though you experience hard times and problem, you never quit. You have the big power to do a business journey. Wonderful.

But how long? You ask for your self, what if your passion has no market? What are another criteria for good business ideas? How to evaluate the feasibility of business ideas? Is your business worth pursuing?

1. Know Your Self

Identify and create a list of what are your skills, what are your passion?  Ask for yourself:

  • What repeated and longtime activity that you never bored
  • What activity that you never mind if you never get money?

Then, maybe your passion is sewing, scrapbook, pottery. That is passionate about making something.

Then, what if your passion is playing game? No one gives money to play a game.  Find a job that similar to playing a game but helpful. For example,  social media advertising manager.

2. Look Your Environment

After you study your mind, your passion, your knowledge, your skill.  study the world around you.  That is your existing hobbies, your daily life, and job.

What is your job or task that you are struggling because you have a problem? What problem that you can not resolve?

You solve the problem first, then get it as business ideas.

If you get an answer, see people like you.  How many people like you that have the same problem. If so many people that have a problem similar to you, that is passionate business ideas.  You are not only found something that you passionate but also you found feasibility.

3. Check Market Demand Online

Sometimes, it is not easy to measure how big market. You can try research market by online.

Make a list of keyword from imagined people that need your offer. Write your keyword on search engine. That is a list of another offer to solve the same problem. If not, you are the only one that offers to solve the problem. If you have so many competition, check their traffic, engagement, and sales.  You can check in google.com, google trend, google keyword planner in AdWords, fanpage in facebook. Click here for tutorial how to check market online.