Tool used is VOICE Canvas by Coach Rik
The are all 5 element when want to start up business. The first one is Value bring by the business.
Remember the business sustain in market because the value bring to the customer not the product. Eg Subway bring freshness to their food or else it just same sandwich like others. In introducing value to others, shareholders especially put measurable value to the product. There are 2 type that are must have and good to have. Determine which category for the product.
Next is Oppurtunity. What is the product solving problem? Also the problem validation.
There will be oppurtunity to market the product.
Inovation. Must know which one the product produce, it is innovation, invention or copy cat product (differentation).
What to innovate?
-product
-service
-channel
-customer engagement => get people to involve
-process
-network
-revenue model => making money in free platform such ads in fb
Remember Meps is not bank but among rich business handle with bank. Ali baba does not have any shop but among rich business, Grab does not need their own car to make money but others car. See? Even providing platform can make money when many people use it.
Then is the most important part in business is customer. Who is your targetted customer? How they behaved and how to channel the product to the customer.
Segmentation of customer :
- Geography
-Demographic
-Pshycographic (mentality rich people and poor people)
-Lifestyle
-Lifestage (baby,adult, old folks..)
The different between marketing and selling is marketing create awareness to people about the product whilst selling is process of converting the product into money.
The last element is Economics.
List down all the money needed to start up the business and include also salary for ownself as it is important. Or else owner will actually deter the company from growing up as owner will consume the company money uncountable. Then where is the profit ?
After all cost for the modal is calculated, next the break even point need to be calculated.
When doing pitching, include all the 5 element and emphasizing is different based on the focus of the listener.
Thank you for reading.
Feel free to comment anything below..
17/3/2018 Tuan Noor Helmi ( ceo of ixtelecom )
ReplyDeleteMarketing plan (Business Plan)
Executive Summary – Summary about the company
Target customer – bg, demographic, goal and challenges may faced.
Unique proposition – Have something special from the company. eg fedex hv express delivering
Price and positioning – doesn’t mean hv to cheap, may hv subscription. Need to have price strategy. Eg Rolex exclusive watch
Distribution plan – How the product reach the customer. How it being channelled. Eg Air Asia using website, travel agent and can get the services. Can go to their website partner such as Expedia.
>Marketing material – brochures. Depend on the product. Such as uber first reach the new customer, they preffer traditional way of marketing then the Uber invest to the billboard so that people can see.
>Promotion strategy
>online marketing – SEO, search engine optimization (free certification) – social media – email
Conversion strategy – How to convert people to the customer. Royal customer or being cust for a period. eg Netflix need to key in credit card after one month got charges if not terminated. Partnership like buying more at certain company A and can redeem at company B or discount. Joint promotion between company. What can offer to the potential company? Need to give them benefit.Referral friend strategy.
Retention strategy- need to maintain customer. Loyalty program, reward program.
Financial plan –financial projection how much revenue , future of the company, understand cash requirement, how much money need to raise fund to cover business xtvt. Example Axiata Degital innovation fund.
Business model, capital, operating cost(forecast and operating plan) and Financial statement
Source of capital – investor,
Develop head count plan, resources of human in the company.
Cost of goods sold. cost for all material needs.
Financial statement - income statement, cash flow (money in must high than money out)
and balance sheet (asset and liability must be balance)
cash flow must positive , such example our monthly income got one thousand. Need to spend to buy fod, oil petrol and others things, if by the end of month got balance then the cash flow is positive if still not enough and need to borrow money from friends then, the cash flow is negative.