In many cases that I have met most small business starters or even operators, business research, marketing research are being separated from each other or not being practiced despite it is a critical factor.
A most recent case that I was deeply involved is where a millionaire friend of mine is deeply interested investing in fishing business in Aceh, Indonesia. This investment is more on diversification into different business since he is a logger.
After a week of several meeting and discussion, on 12th May 2009, three of us took a flight to Aceh in the intention of an immediate purchase of fish for 3 to 10 tons per day. I proposed that some detail research on the operation, marketing plan and a business model must be developed prior to the investment. The reason is that the business I am involved in Indonesia is Tuna fishing and not the purseiner or trawler fishes.
On reaching Aceh we went to a fishing jetty in Idi which took us at least 7 hours drive and we realize that the fish are mostly Euthynnus affinis or in Indonesian name is Tongkol Como, or the Malaysian name is Tongkol Hitam and Tongkol Putih. There some Albacore available beside Loligo app. Based on my experience I assumed for the unloading at that particular fishing jetty would be at least 50 tones of fish. We felt unhappy since the information provided by the Indonesian Fishery was not accurate. We then left for the next jetty which took us a day of driving.
The next jetty was the small jetties which are distributed unevenly at an area of 50 km radius. This are the type of fish that we are looking but each jetty could only supply us with 100 kg to 200 kg a day. Our intention of having a minimum of 3 ton of fish per day again becomes a dream. We are not able to have the fish needed for the market that we think we had.
Both of my friends then left home for Malaysia the next day and I stay for some research for this particular business. I believe that the challenges that we faced could be resolve with a good research. I stayed for a week and later I came with a good finding and proposal to run such a business.
On my return to Malaysia, we then had 2 meetings and later decided to venture into this particular business. I reminded my partners that a regular research and analysis must be made in ensuring the sustainability and profitability of the business. I also reminded my friends that we are also lacking in having a good market in Malaysia to market out a 3 to 10 ton of fish a day. This venture could be a catastrophic move since my research in Indonesia is only on operational research and marketing research was incomplete.
A most recent case that I was deeply involved is where a millionaire friend of mine is deeply interested investing in fishing business in Aceh, Indonesia. This investment is more on diversification into different business since he is a logger.
After a week of several meeting and discussion, on 12th May 2009, three of us took a flight to Aceh in the intention of an immediate purchase of fish for 3 to 10 tons per day. I proposed that some detail research on the operation, marketing plan and a business model must be developed prior to the investment. The reason is that the business I am involved in Indonesia is Tuna fishing and not the purseiner or trawler fishes.
On reaching Aceh we went to a fishing jetty in Idi which took us at least 7 hours drive and we realize that the fish are mostly Euthynnus affinis or in Indonesian name is Tongkol Como, or the Malaysian name is Tongkol Hitam and Tongkol Putih. There some Albacore available beside Loligo app. Based on my experience I assumed for the unloading at that particular fishing jetty would be at least 50 tones of fish. We felt unhappy since the information provided by the Indonesian Fishery was not accurate. We then left for the next jetty which took us a day of driving.
The next jetty was the small jetties which are distributed unevenly at an area of 50 km radius. This are the type of fish that we are looking but each jetty could only supply us with 100 kg to 200 kg a day. Our intention of having a minimum of 3 ton of fish per day again becomes a dream. We are not able to have the fish needed for the market that we think we had.
Both of my friends then left home for Malaysia the next day and I stay for some research for this particular business. I believe that the challenges that we faced could be resolve with a good research. I stayed for a week and later I came with a good finding and proposal to run such a business.
On my return to Malaysia, we then had 2 meetings and later decided to venture into this particular business. I reminded my partners that a regular research and analysis must be made in ensuring the sustainability and profitability of the business. I also reminded my friends that we are also lacking in having a good market in Malaysia to market out a 3 to 10 ton of fish a day. This venture could be a catastrophic move since my research in Indonesia is only on operational research and marketing research was incomplete.
Week 4 slides
Sample of assignment:
