A critical history of an entrepreneurial venture as career


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A critical history of an entrepreneurial venture as career

  1. 1. A Critical history of an entrepreneurial venture Ravinther Kunju Raman
  2. 2. If we can sell our experiences we all will become millionaires
  3. 3. April 1992 August 1992 October 1993
  4. 4. 1 st October 1993 - 4 th June 2004
  5. 6. Career Path MT/JE/E AM M AGM GM AD ED MD 93/94/95/96/97/98/99/00/01/02/03/04/05/06/07/08/09/10/11/12/13/14/15 55 54 53 52 51 50 49 48 47 46 45 44 43 42 41 40 39 38 37 36 35 34 Sales Management Sales Consultant Sales Counsellor Own Business
  6. 8. Overweight (83.5kg)
  7. 9. November 2003 – Chen Du, China
  8. 10. The World is my stage……
  9. 11. The idea and the resulting product/service offering, the value proposition
  10. 12. “ Human beings are capable of accomplishing much more than initially imagined if they are provided with trainings and special know-how. And if these conditions are met, the person assigned will exercised his or her abilities to the fullest if given the chance” - K. Matsushita
  11. 13. Sell our experiences
  12. 14. Customer Sales Staff Your Competitor Your Problem
  13. 15. The Entrepreneur and the Team
  14. 16. Why ASK? <ul><li>Attitude-Skill-Knowledge </li></ul><ul><li>Ann/Ailyn/Aslyn-Sherryann-K.Ravinther </li></ul><ul><li>Ask-Seek-Knock </li></ul>
  15. 17. Corporate Information Company name ASK EDUCATION & TRAINING SDN BHD (636057-A) Date of Incorporation 5 th December 2003 Commenced business operations 19 th March 2004 Board of Directors Sherry Ann Daniel Catherine Lim Ah Sham Ravinther Kunju Raman Company Secretary Leong Li Ling (MAICSA 7028548) Auditors JK Huan & Co. Chartered Accountants Principle banker RHB Bank Berhad Registered office Pusat Perdagangan Puchong Prima, Puchong, Selangor Principle place of business A-7-6, Tiara Faber, Jalan Desa Utama, Taman Desa, 58100 Kuala Lumpur
  16. 18. Specific Characteristics <ul><li>Lifestyle firm - set up primarily to undertake an activity that my wife and I enjoy </li></ul><ul><li>Lean management – live simple life, more time with family & friends, work with like-minded people, constantly invest on ourselves to upgrade competencies through study and reproduce what we learn (prosumer) </li></ul><ul><li>Market influence – focus on Electric & Electronic Industry </li></ul><ul><li>Industry Independence - free from outside control in taking our principal decisions. </li></ul><ul><li>Personal influence – in all decision making. Wife make general decisions and I make major decisions </li></ul><ul><li>Close relationships with customers, investing our time rather than money. Many of our customers are our close friends </li></ul>
  17. 19. Principal Activity <ul><li>The company is principally engaged in providing training services and related business </li></ul><ul><li>Lecturing </li></ul><ul><li>Management Courses </li></ul><ul><li>Tuition </li></ul><ul><li>Mathematics </li></ul><ul><li>Science </li></ul><ul><li>Statistics </li></ul><ul><li>Organizations </li></ul><ul><li>Effective Professional Selling Skills </li></ul><ul><li>Effective Telemarketing Skills </li></ul><ul><li>Effective Telephone Style </li></ul><ul><li>Effective Customer Service </li></ul><ul><li>Effective Supervisory Skills </li></ul><ul><li>Effective Communication Skills </li></ul><ul><li>Effective Team Building & Motivation </li></ul><ul><li>Marketing Planning </li></ul><ul><li>HR Consultation </li></ul><ul><li>Individuals </li></ul><ul><li>Coaching </li></ul><ul><li>Counseling </li></ul><ul><li>One-on-one Executive Trainer </li></ul><ul><li>Career Coach </li></ul><ul><li>Keynote Speeches </li></ul><ul><li>Organizing Seminars </li></ul><ul><li>Organizing Events </li></ul><ul><li>Master of Ceremonies </li></ul><ul><li>Game Show Host </li></ul><ul><li>Youth Programs </li></ul><ul><li>Children Camps </li></ul><ul><li>School Camps </li></ul><ul><li>Spokesperson </li></ul><ul><li>Seminars to promote Client </li></ul><ul><li>Moderator </li></ul><ul><li>Facilitator </li></ul><ul><li>Professional Speaker </li></ul><ul><li>Sports Carnival </li></ul>
  18. 20. Basic Management Objectives <ul><li>Recognizing our responsibilities as educationist, we will devote ourselves to serve others through Training and Development of Attitude, Skills and Knowledge, thereby touching and transforming lives positively World-wide. </li></ul>Educationist Training & Development Attitude Skill Knowledge Touching & Transforming lives
  19. 21. Basic Business Philosophy <ul><li>Our Vision </li></ul><ul><li>Serving everyone through Training and Development of Attitude, Skills and Knowledge, thereby touching and transforming lives positively World-wide. </li></ul><ul><li>Our Mission Statement </li></ul><ul><li>We will challenge our ability as educationist and commit ourselves to research, customize and deliver effective training programs that will assist individuals and organizations to achieve their goals. </li></ul><ul><li>Our Guiding Principles </li></ul><ul><li>H - Humble O - Optimistic P - Passionate E - Ethical </li></ul><ul><li>Our Motto </li></ul><ul><li>Personal happiness, creative fulfillment, professional success and freedom from fear and a new promise of joy is for those who dare to ask. It is our responsibility as human being to ask others for help because anything is possible if we DARE TO ASK . </li></ul>
  20. 22. The value proposition Why should you choose ASK EDUCATION & TRAINING as your training provider? Imagine consuming attitude, skill and knowledge in a “CAPSULE”! CAPSULE Cost-effectiveness We deliver customized training solutions at a strategic cost to match your requirements Academic foundation We build our courses grounded in proven theories and based on research Practical application We teach our participants to apply learning that brings long term personal and professional development Strategic design & development We design and develop training solutions that match your organization ’s strategic goals and meet your specific needs Undivided attention We assign two or more people to your training project from initial contact to research to course development to actual training. This gives us a very tight control over the quality of our training solutions Learner centeredness We put learners at the center of our training solutions and strive to bring the best out of them through promoting active participation. We apply teaching methodology that increases the rate of retention and the transfer of learning to the workplace. Experienced trainers We provide experienced trainers who know the industry and are committed to apply the skill sets that they teach.
  21. 23. Funding model <ul><li>Own funding </li></ul><ul><ul><li>Sold house to finance business </li></ul></ul><ul><ul><li>Paid-up capital of RM100,000 </li></ul></ul>
  22. 24. The Business & Revenue Model of the venture, business strategy Target Market Industry-wide (Broad) Specific Niche or segment (Narrow) Defined by Cost Defined by Distinctiveness Competitive Advantage Low-cost leadership Differentiation Cost-based focus Differentiation based focus
  23. 25. Differentiation based focus <ul><li>Aim at a specific and typically small niche </li></ul><ul><ul><li>SME > Consumer Electronics </li></ul></ul><ul><ul><li>Specialize the firm ’s activities in ways that other broader-line firms cannot perform as well </li></ul></ul><ul><ul><li>Affordable cost at superior value </li></ul></ul><ul><ul><li>Focus on repeat buyers ( we are knowledgeable about the firm ’s offering and less price sensitive) </li></ul></ul><ul><li>Specialized distinctive competence </li></ul><ul><ul><li>research, customize and deliver effective training programs </li></ul></ul>
  24. 26. Inbound Logistics Operations Outbound Logistics Marketing/ Sales Service VALUE CHAIN ANALYSIS Competitive Advantage : Creating and Sustaining Superior Performance SUPPORT ACTIVITIES Infrastructure (finance, accounting, legal affairs, information systems & payroll) Acquire capital, perform accounting, legal and administrative tasks for each activity Human Resource Management Treat employees as special team members ( working for themselves) ; emphasize reward systems that promote innovation or quality Technology Development Training tools, software and hardware support, e-learning; refinement of high quality delivery ; emphasis on excellence; world class quality Procurement Selective purchasing from numerous sources PRIMARY ACTIVITIES Analyze High emphasis to understand customer needs Design & Develop Proprietary processes; patent protection; license Implementation Extra care in training delivery Reputation & referral strategy Evaluation High emphasis on treating customer as special individuals; fast and courteous special services
  25. 27. The Business & Revenue Model of the venture, business strategy
  26. 28. The Business & Revenue Model of the venture, business strategy
  27. 29. The Business & Revenue Model of the venture, business strategy
  28. 30. The Business & Revenue Model of the venture, business strategy
  29. 31. Analysis: analyze the venture ’s development cycle and its current position by looking at <ul><li>Initial condition at the time of founding the venture ( the industry, economy, the venture) </li></ul><ul><li>Major events during the venture ’s development and the actions taken by the entrepreneur. </li></ul><ul><li>Are there events in the venture ’s life cycle that have influenced the venture’s development? (events related to the entrepreneur, venture or to the market) </li></ul><ul><li>Feedback loops and causal relationship between the events and the decisions, actions taken by the entrepreneur) </li></ul>
  30. 32. Initial condition at the time of founding the venture The Industry In Malaysia, the emphasis on the development of human capital was recorded in the Ninth Malaysian Plan 2006-2010 where RM4.45 billion was spent under the Eight Malaysian Plan and RM4.79 billion was allocated for training <ul><li>The Economy </li></ul><ul><li>SMEs are important engine of growth </li></ul><ul><ul><li>Almost 99% of businesses in Malaysia </li></ul></ul><ul><ul><li>32% of GDP, provide jobs to 5.6 million employees. The market for my services is growing at an unprecedented rate. </li></ul></ul><ul><li>In 2004 and 2005, year-end training business increased 25% each year. </li></ul><ul><li>There were 600 training providers in </li></ul><ul><li>Klang Valley. </li></ul><ul><li>The Venture </li></ul><ul><ul><li>I plan to provide a complete training and consultancy service CE industry. </li></ul></ul><ul><ul><li>I intend to upgrade CE staff competency and assist to bridge the gap between principal and dealers </li></ul></ul>
  31. 33. Working with Training partners 2003 2004 2005 2006 2007 2008 2009 50 100 150 200 250 300 -50 Incorporation 5 Dec Commence Business 19 Mac 46k 88k 96k 155k 205k -29k -37k -38k 7k 21k ‘ 000 (RM) Year Sales and Profit Chart versus years in business Joined team 4 Jun Acquire higher qualification Master of Instructional Technology Master of Management Additional Consultant Strategic Partnership Advice 1 Advice 3 Advice 1: Increase sales, control expenditures and start making profit Advice 2: Build Strategic Partnership Advice 3: Pay Service Tax Advice 2 Venture ’s development & the actions taken based on feedback loops Legend Sales Turnover Profit
  32. 34. Marketing Strategies Rank Strategies Details 1 Referrals R equest the referral R epeat the request R eward referrals R eciprocate 2 Client relations Bond the client to my professional practice emotionally (how I treat them) 3 Personal Selling Relationship Selling 4 Public Speaking Toastmasters, Malaysian Institute of Management 5 Internet www.askravinther.com 6 Social/business networks Facebook, linkedn, Matrade
  33. 35. Reflections <ul><li>Lesson learned: </li></ul><ul><ul><li>We can sell experience and make a living </li></ul></ul><ul><ul><li>We can earn relatively higher income by working for ourselves compared to working for others </li></ul></ul><ul><ul><li>We can enjoy a greater balance in work-family life when we do our own business </li></ul></ul><ul><ul><li>We must observe our surroundings to find a need and filling it, thus we will be in business </li></ul></ul><ul><ul><li>We must respect business ecology and practice prudency, believe in value systems to co-exist and co-prosper </li></ul></ul><ul><ul><li>There is enough business to do; learn to share and do not be greedy. </li></ul></ul><ul><ul><li>Increase sales turnover, control expenses and make profit for company </li></ul></ul>
  34. 36. Reflections <ul><li>New insights: </li></ul><ul><ul><li>Do I want to grow my business? </li></ul></ul><ul><ul><ul><li>Premises, staffing, number of training days </li></ul></ul></ul><ul><ul><ul><li>Expand beyond core > CE </li></ul></ul></ul><ul><ul><ul><li>Bring in outside investors </li></ul></ul></ul><ul><ul><ul><li>Strategic partnership - merger with other training providers </li></ul></ul></ul><ul><ul><ul><li>Obtain SME financing </li></ul></ul></ul>
  35. 37. DARE TO ASK
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