Entrepreneur is defines as an person who build up new thought to make new merchandise, concern and services in the face of hazard and uncertainness for the intent of accomplishing net income and growing by placing chances and piecing the necessary resources to capitalise on them.
There are several types of quality of enterpriser which are assurance, vision, hazard pickings, tolerance for failure, creativeness and innovativeness.
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For illustrations, assurance is belief in their ability. During the down period, enterpriser will still keep of their assurance. By the ways, it will prolong the enterpriser ‘ ain optimism and it will besides make the degree of assurance necessary for the efficient group attempt.
In the others manus, every enterpriser must hold a vision or construct of what their organisation can be. The enterprisers know where they want to travel. Besides, the vision besides develops over clip as the person starts to recognize what the organisation is and what the organisation can go.
Therefore, an enterpriser is the hazard takers when they are decide to take part in new venture to construct up new thought to make new concern. By the ways, they should be really carefully thought-out the manners. The enterprisers are do every possible things to avoid taking the unneeded hazards. Last illustration of the quality of an enterpriser is duty. An person is responsible what he/she making of concern and even responsible for their clients.
Companies ‘ background
Company name: Sister Dream
Owner: Goh Ai Min
Type of concern: This is a type of online concern which sells Nipponese and Korean manner vesture. This concern is from the proprietor ‘ sister when her sister pregnant and her sister non able to make this concern when her sister in the gestation period so Goh Ai Min demand to take over her concern in order to go on this concern.
Company name: RG SOLUTIONS SDN. BHD.
Owner: Mrs. Mossiah Mahadi
Type of concern: This is a printing company. Mrs. Mossiah Mahadi has over the old ages created celebrity in advertisement & A ; publicity every bit good as event direction industry in Johor. Bing a major subscriber in successful undertakings and events in Johor has embarked a new sheet to this industry.
Therefore, to provide the overpowering market, RG SOLUTIONS SDN. BHD. was established in the twelvemonth of 2005. With uniting fresh and originative thoughts, professionalism and an oculus for item, RG SOLUTIONS SDN. BHD. is an one halt A & A ; P and concern solutions to provide all your demands. Dedicated to consequences and fastidious to a mistake about the smallest inside informations, A RG SOLUTIONS SDN. BHD. takes in finishing undertakings at every phase of the work procedure, from preliminaries ( construct ) to execution.
Company name: AL-JANNAH BIOTECH SDN BHD
Owner: ZULKEFLI MD. ISA
Type of concern: This is a mill that produces java. On the travel of this enterpriser in Indonesia, in a Chance brush state of affairs an Indonesia citizen told the enterpriser about Mahkota Dewa, so this enterpriser found that this is an chance that this Mahkota Dewa can be use to bring forth a merchandise. So, this enterpriser takes this Mahkota Dewa to University engineering Malaysia to make research. The research squad called Chemical Engineering Pilot Plant and after 1 twelvemonth research this merchandise was come out and name as Mahkota Dewa the name same as the works. Mahkota Dewa is a herb that can anti natural
The troubles that faced by enterpriser
The 3 directors from: Sister Dream
RG SOLUTION SDN BHD
AL-JANNAH BIOTECH SDN BHD
3.1 ) What was the most hard determination made you have to do when you start your company?
3.1.1 ) The first director from Sister Dream said:
‘The most hard determination is to happen the mark market because there is several of human ecology. For illustration are age, gender, race, spiritual, income and place. Thus, Sister Dream is pick at the younger coevals who able to working and the same clip has buying power to buy merchandise.
The younger coevals mark in 16-25 old ages old. On the others manus, online store can non sell the merchandise at higher monetary values. This is because, the client are may believe that client might be cheated by marketer. For illustration, the clients afraid that they can non have the goods when client is already paid. So, Ms.Goh sells the apparels in the monetary value of 1pcs for RM29 and 2pcs for RM50 to the mark client to convert the confident of the clients.
Therefore, the younger coevals are besides will online because younger coevals know good about online. So, younger coevals can online and order the apparels at anytime.
3.1.2 ) The 2nd director from RG SOLUTION SDN BHD said:
The most hard determination when the concern start is to happen the location which is propinquity to the clients. This is because the better topographic point will be higher lease. So, the location related to the money that the company can be low-cost if the location is non good the client will hard to happen the mill.
3.1.3 ) The 3rd director from AL-JANNAH BIOTECH SDN. BHD. said:
The proprietor of this company province that the most troubles he face is target to the new market. This is because to come in to new markets there are many exists rivals and demand to make many advertizement to the merchandise to guarantee that people know about the merchandise. The illustrations of the advertizement are Television, wireless, booklet and intelligence paper.
3.2 ) What were the fiscal troubles that you encountered and how did you get the better of your troubles?
3.2.1 ) The first director from Sister Dream said:
‘The fiscal trouble is Cash flow jobs because does non hold or less client to purchase the merchandise. This will do the concern will non gain more income and net income and even the capital can non turnover. Purchase and bringing goods need capital to implement the concern.
So, the solution to work out this job is to pull off the hard currency flow for the concern to get the better of the trouble. For illustration, Sister Dream will gauge the disbursals that will be used for the peculiar month.
Another trouble is Sister Dream I want to open a new store presents, so, when want to use the concern, there will confront the fiscal job. Therefore, Ms.Goh ‘ sister semen and helps to give her fiscal support and even the labour support. It mean that, her sister go the spouse of the concern.
3.2.2 The 2nd director from RG SOLUTION SDN BHD said:
The fiscal troubles that faced by RG SOLUTION SDN BHD is that this company provides recognition gross revenues to the clients but sometimes clients will non refund the payment on clip. The client ever ain dept to this printing company and lead to the capital is hard to turn over and the hard currency flow of the company holding job.
3.2.3 ) The 3rd director from AL-JANNAH BIOTECH SDN. BHD. said:
The fiscal trouble is the client non paid the payment which is paid with dishonor check and this will do the hard currency flow job and the turnover besides have job. To get the better of this job the enterpriser decides alteration to networking concern and the thought was given by AJ Global Marketing. AJ GLOBAL MARKETING ( AJGM ) consists of a group of marketing executives who are capable. They have established a sophisticated system of selling services to supply first-class selling services. Our company is ever ready to bring forth high quality merchandises at sensible monetary values. Therefore, our company ‘s mission is “ Quality comes foremost, clients still respected ” So, the type of networking is Multi Level Marketing. In this sort of Multi Level Marketing the clients want to buy the merchandise need to pay foremost earlier acquire the merchandise.
3.3 ) What are the present troubles that you face for you organisation?
3.3.1 ) The first director from Sister Dream said:
‘The present trouble is unfastened the new store in the Malacca. So, Ms.Goh ‘ sister and Ms.Goh need to fade out the partnership. So, it becomes the trouble for the Ms.Goh. This is because Ms.Goh needs to larn independent and take more clip to pull off the online concern presents. But in earlier, Ms.Goh and her sister are working together to implement the online concern.
On the others manus, when open the new store, they are need more finance to run the new store which is in Malacca. Online store and new store are under the same company, but the new store is needed more capital than online store. Therefore, Ms.Goh is less fiscal presents.
Besides, when open the new store demand to cover with many things. There are including how to use license, redevelopment, equipment, contract of the store. From this, Ms.Goh needs to larn all about these to run the concern.
Last, when dissolve the partnership there are no any human resources or labor to assist Ms.Goh in the online concern. So, Ms.Goh need to holding more clip to make her sister ‘ work. The clip will be affected because Ms.Goh needs to devour more long hours to complete the work in a twenty-four hours. ‘
3.3.2 ) The 2nd director from RG SOLUTION SDN BHD said:
The present troubles faced by this company are job of human resource and rivals. In human resource, most of the staff in this company is fresh alumnus or practical staff. So, need to allow them cognize about how to run machine and measure of printing and demand to pass a batch of clip to develop them. If non give them developing the labor may make the printing wrongly and will do the cachexia job. After that this company use concern to allow more clients know about their merchandise. The company unfastened in Angsana, Johor, this is because in this country to convenience the agent and public easy to acquire the concern and merchandise and Angsana, Johor which is near by the mill.
3.3.3 ) The 3rd director from AL-JANNAH BIOTECH SDN. BHD. said:
In this company still in development phase so the company using concern to overseas that is Jakarta in Indonesia. So the present job is the export and pricing in Indonesia. In extra to this, this company besides have many rivals for illustration Ali coffeehouse, Nescafe, old town. These rivals have already celebrated in the market and construct the assurance in the client head so this company hard to vie the rivals, the java that contain Tongkat Ali is the most biggest rival this is because the Tongkat Ali java is a healthy java so will direct influence to Mahkota Dewa.
3.4 ) Does the function of the external environment influence your determination and the troubles you have to confront in geting at a determination
3.4.1 ) The first director from Sister Dream said:
‘Yes, the societal civilization is the external environment that influences the determination because those have a batch of festival in Malaysia. For illustration, when Chinese new twelvemonth there are a batch of clients who are want to purchasing the new apparels for the coming festival. So, clients are willing to purchase more apparels. By the manner, it will do deficiency of goods/stock. With this, Ms.Goh will seek to order the apparels in progress to acquire more stock. So, if clients are purchasing more, Ms.Goh is holding adequate goods to supply for the clients.
The providers of Sister Dream are from China. In China there are holding four seasons. For illustration there is fall in China, so the maker in China will more bring forth on long arm apparels in their state. Hence, there are non suited for the Malaysia. By the manner, Ms.Goh need to order more apparels which are non long sleeve from the providers to sell in the Malaysia when China is holding the fall season.
On the other manus, when there is Chinese New Year, the providers usually will rest a month. So, Ms.Goh need to order the goods in progress to do certain that she still can supply and sell the apparels to the clients when the providers is in the remainder period.
The lastly external environment is the rivals who are besides holding the similar online concern with the Sister Dream. The rivals are selling the similar apparels with the Sister Dream and even the monetary value that maybe cheaper than the Sister Dream. By the manner, Sister Dream is updating and promotes the new design/pattern of clothes/goods one time a hebdomad. This can pull and aim more clients to purchase goods from Sister Dream. Therefore, this scheme might be able to win over the rivals. ‘
3.4.2 ) The 2nd director from RG SOLUTION SDN BHD said:
Yes, the external environment such as authorities act uponing determination. This is because this company concern chiefly 60 % is come from authorities and 40 % is from public, if authorities all of a sudden cancel the order and this company will lose a batch of income. So, this company seeking to aim more client of public in order to get the better of this unseeable troubles.
3.4.3 ) The 3rd director from AL-JANNAH BIOTECH SDN. BHD. said:
This company face the external environment when the economic system non stable. This means on the oil monetary value. The oil monetary value will act upon the cost of production of the Mahkota Dewa so the net income will diminish and will hold the hard currency flow job.
3.5 ) What are the hazards being an enterpriser?
3.5.1 ) The first director from Sister Dream said:
‘The hazard as an enterpriser is afraid rip offing from the provider. This is because Sister Dream is besides ne’er run into the providers. Sister Dream is merely through in the online to order the goods from providers. Therefore, when order the goods from providers, the Sister Dream need to pay the money in progress. By the manner, if provider does non direct the goods to Sister Dream after receive the goods, Sister Dream will loss all the money.
Besides, the providers are possibly sent the incorrect goods which are non follow the codification that Sister Dream already orders. So, Sister Dream needs to sell the apparels to the clients for illustrations sell in the lower monetary value to pull the clients to purchase from them. This is because the apparels that send wrongly are does non provided and demo in the Sister Dream ‘ online store. So, clients do non hold detail information about those peculiar apparels. Therefore, Sister Dream does non hold higher power to dicker the higher monetary values.
In the other manus, the other hazard is the revenue enhancement of air cargo when directing the goods from China to Malaysia. When there is unfortunately or overweight of the goods, there might hold the 30 % revenue enhancement that bear downing of the goods by the Malaysia ‘ authorities. Therefore, Sister Dream is seeking to order the goods which are non less 20kg. From this manner, it will be avoided the charging of revenue enhancement from the Malaysia ‘ authorities presents.
Finally, there will be a trouble when happening the short arm for illustration which is in the fall season in China. This is because there is non holding fall season in the Malaysia. If have oning long arm in Malaysia will be really hot for the clients. So, it might non truly interesting and attract by the clients. So, Ms.Goh need to seek to order short arm in progress to do certain that still have new apparels to advance to the clients when the China is in the fall season.
Meanwhile, when Sister Dream wants to sell the long arm apparels, the monetary value will be more expensive than the short arm apparels. This is because the long arm apparels will necessitate more fabrics to bring forth and will do the modal need more. ‘ Sister Dream can seek to happen others providers which sold the long arm in the cheaper monetary values which can salvage the money and can besides seek to order others different goods to sell.
3.5.2 ) The 2nd director from RG SOLUTION SDN BHD said:
The hazards face by this company is the uncertainness that whether the client satisfy with the quality of merchandise or non. When the clients are willing to pass more money to purchase the merchandise it will demo that the merchandise must be in the conditions of good quality. If the merchandise quality is low, there will be a major job for the company to last, this is because low quality merchandise will do client non willing to purchase the merchandise
Rivals are the one of the hazard face by this company. A company ever menace by the rivals and as an enterpriser must contend with their rivals from the repute, design, quality and the station purchase service of the merchandise in order to acquire the more market portion. So the enterpriser must ever do different with their rivals in order to construct up the competitory advantage to vie the rivals.
3.5.3 ) The 3rd director from AL-JANNAH BIOTECH SDN. BHD. said:
The hazard that face by this company is to dispute in the new merchandise. This is because this Mahkota Dewa is a new merchandise and many rivals in java market. This java was specially created for the java lovers who enjoy merely the mulcts thing in life.
This java was made by Arabica java bean and Mahkota Dewa. This Mahkota Dewa was used herbal to do and the monetary value is non inexpensive. A box of Mahkota Dewa java costs RM28 which have 20 bundles inside a box. So this is the high quality merchandise because it used many herbal and fruit to bring forth it, for illustrations ginseng, ginger, mangos adolescent rind, wolfberry and others. So, this type of java is high hazard because it is higher cost and higher monetary value comparison with the rivals. The merchandise enter to Indonesia and whether this merchandise will be like by the citizen of Indonesia or non still in unknown state of affairs so this is the hazard face by the company.
3.6 ) In runing your venture, what were the troubles your faced with the followers:
3.6.1 ) The first director from Sister Dream said:
‘The trouble of resources is the providers send the wrongly/incorrect goods for them which does non follow the codification that Sister Dream order. So, the resources that Sister Dream wanted are can non have on clip. Therefore, Sister Dream needs to reorder the resources. By the manner, it will do the clip blowing because of hold of directing the right goods and even do incommodiousness for the Sister Dream to direct the merchandise for the clients.
In the others manus, the Sister Dream besides can non resend back the goods to the providers. This is because the cost that resend back to providers is really expensive. This is really troublesome and non deserving for the Sister Dream and it will do loss. By the manner, Sister Dream needs to sell the merchandise which Sister Dream non order.
Besides, when there is fall in China, the new merchandise that will be upload and promote are largely is the long arm apparels in their state. Hence, there are non suited for the Malaysia. By the manner, Ms.Goh need to order more apparels which are non long sleeve from the providers to sell in the Malaysia when China is holding the fall season. It can besides forestall the lacking of the goods/stock for Sister Dream.
The following hard of labor is the labor does non cognize to use and used the computing machine good. Labor such as the Ms.Goh sister does non cognize to utilize computing machine. So, Ms.Goh need to utilize more clip to learn her sister to used the computing machine to use the things or order goods by utilizing computing machine. Ms.Goh sister besides necessitate more clip and attempt to larn and run the computing machine. Ms.Goh can inquire others people or any household members to learn her sister who expert in utilizing computing machine. So, Ms.Goh can make her ain work.
Last, the trouble of location is taking the online concern store to sell the apparels in the beginning of get downing the concern. Sister Dream set up in on-line ways this is because on-line concern will non confront any rental job, redevelopment job, understanding job and redevelopment job, no undertake any direction fees, H2O and electrical system job. Besides, an on-line clip is besides flexible. There are 24 hours working in a twenty-four hours.
In the other manus, when open a new store will hold the rivals. The trouble is Ms.Goh and her sister will seek to analysis that it is the location propinquity to the mark market and it is the concerns will pull the client easy or non. ‘
3.6.2 ) The 2nd director from RG SOLUTION SDN BHD said:
The trouble of resources is, if the provider have no stock, so the natural stuff will be a job to the company, this is because when no resources the company can non run. After that the hard of labor is if the staff make error, the error will do the cachexia job and impact the on the job capital. Next, the trouble of location is if the location is non propinquity to client, it will do the hard to the client to take orders and this will impact the sale volume and income.
3.6.3 ) The 3rd director from AL-JANNAH BIOTECH SDN. BHD. said:
The trouble of resources is the Mahkota Dewa need to merchandise from Indonesia and if delay the whole procedure will affected. After that the hard of labor, when need employ new labors need to develop and develop before employ. This is because the workers need to run the machine so the workers need to develop. Next, the trouble of location antecedently before the SME Bank aid was unfastened in Perling but now the SME Bank rent the mill to the enterpriser in order to spread out the concern.
The solution to get the better of these troubles as we are an enterpriser
The common troubles that the 3 director faced included:
First we need to analyze who is the clients so in sister dream their client is female in the age group of 16 – 25. So as an enterpriser demand to cognize their client really good in order to acquire the clients. After that the Mahkota Dewa clients are the Chiness people this is because the bulk of Chiness people like to imbibe java. So this is a large market to the Mahkota Dewa to concentrate. On the other manus, the RG SOLUTIONS SDN. BHD the bulk focal point on authorities. So as an enterpriser we need aim more on populace this is because populace besides have the strong buying power for illustration Super. Super is a immense company and them will necessitate to publish the broacher one time they provide a new merchandise in the market, so RG SOLUTIONS SDN. BHD should non concentrate on authorities merely and need to happen more market to last.
The grounds that the directors will confront the fiscal job because of them are supplying the recognition gross revenues for the clients. Therefore, the fiscal trouble will happen when the clients are can non pay their debt on clip. It will do the hard currency flow hard to turn over on the concern.
By the ways, the ways to get the better of the hard that if I am an enterpriser are:
Managed the hard currency flow every bit good as possible. For illustration, I will seek to gauge how much of the fiscal that I will be used/expense in the peculiar month in order to help and avoid me to pass more and over the budget.
In the others manus, I will besides inquiring myself the following two inquiries to acquire a sense about whether I have my concern ‘ hard currency flow state of affairs under control:
1.What is my hard currency balance right now?
2. What do I anticipate my hard currency balance to be six months from now?
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Use the networking system like online concern. I will get down to sell the merchandise through networking system. For illustration, I can purchase a web site to sell merely my company ‘ merchandise and advance the merchandise for the clients every bit good as I can. Therefore, the clients are can be fall in a member of my online concern and continue to purchase my merchandise invariably.
When the clients who want to purchase the merchandise online, clients are need to pay the money foremost before they get the merchandise. Therefore, my fiscal trouble might be solved and I have money to turn over on the concern.
Receive some of the sedimentation of the original monetary value from the client. It can be guarantee that the hard currency flow can run swimmingly. By the manner, it besides might non do big loose if the client are do non desire to purchase the merchandise and made the payment.
Besides, I besides can direct out the bills in the same twenty-four hours when the goods are shipped. By this, I will non wait for a hebdomad or two subsequently. Therefore, it will non detain any of the dealing of the concern. It besides can allow the clients trust and put assurance at me.
Chase payment. For illustration, when the due day of the month of the payment outstanding, the company need to trail payment by through remind missive, call or direct to remind the clients.
In the others manus, I can besides penalty the involvement for the clients who are late making the payment. By the ways, I think that the clients will seek to do the payment every bit good as they can. This is because people are do non like the charge which are non utile.
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However, I might besides offer some price reductions to clients who pay their measures rapidly/ progress. So, the clients can bask these types of benefits/advantages. So, the clients will besides seek to do the payment in progress to acquire the price reductions.
Keep some money in others side early when I am get downing the concern. It is because the money can be used in exigency state of affairss or in others twenty-four hours. For examples fiscal crisis, economic system down bend and rising prices. When these types of jobs happen in someday, I still can alive and non easy near down. Therefore, I still have chance to happen out more aureate opportunity to implement my concern every bit good as possible.
Expression for the new market to help the fiscal job. I besides can look for the abroad market to spread out concern. For illustrations I can make the advertizement such as through the newspapers to spread out the concern and besides create the consciousness in the same clip.
By through the newspaper is because it might be more inexpensive when comparison to the Television advertisement. Besides, when advertise in the newspapers, it might more easy to concentrate. This is because people are see the newspaper day-to-day presents to happen out more information non merely in local intelligence but besides in abroad intelligence.
The rivals are ever endanger the enterpriser which in the same market. As an enterpriser must happen with the rivals from the repute, design, quality and the station purchase services of the merchandise which in order to acquire more market portion. In order to work out the job as an enterpriser should analyze the rival in bing market. As an illustration, the rivals of Mahkota Dewa are Nescafe, Old Town, Super and etc. in order to vie the rivals Mahkota Dewa need to advance the advantages of the merchandise to the populace and the differences of the merchandise. By making this the client will be attracted. In Sister Dream their rivals are the store in the market. In order to vie the rivals we should sell assortment of merchandise for illustration accoutrement. In the Sister Dream can sell the manus bag, necklace, belt and etc. So by selling more things can pull more people to buy the merchandise.
From the above, the troubles that faced by an enterpriser and the ways that to get the better of these troubles have already been introduced. Form these three directors that we meet before, we find the common feature of the concern. Nowadays is that there are utilizing the cyberspace networking to use their concern. Sister Dream, RG Solution SND BHD and Mahkota Dewa. There are utilizing website to advance their merchandise and do more easier for the client to take order the merchandise. The cyberspace is genuinely do the concern run more swimmingly. First the benefits of usage cyberspace are low cost. Low cost agencies when unfastened concern in cyberspace no demand paid the rent and nowadays the people like to travel internet searching will hold many clients. On the other manus, cyberspace can be usage in anywhere and really simple to utilize and the people no demand travel to the store for purchase so will salvage some petro for the clients.
Therefore, the suggestion we give to the new coevals of enterpriser is that they should utilizing networking or E-comers to run their concern.
On the other manus, from these directors that we met earlier, we found that although as an enterpriser demand to set more attempt in order to construct up their concern and face the hazard of uncertainness income. But, they have same troubles faced on their concern. So the suggestion to get the better of to assist the enterprisers already list on above so we hope the solution can get the better of the troubles.