Talking about the Business Concept

When thinking about what really a business concept about, hmmm, it is an idea for a business that includes basic information such as the service or product, the target demographic, and a unique selling proposition that gives a business an advantage over competitors. This main idea i abstracted after search a lot of definition in Mr. Google.

Ok let's move on to my business concept:

• Product

Komz House is an event house which organizes surprise birthday party celebration especially to kindergarten children.  Today's moms and dads want to give their kids memorable parties just like they had, but with a two-income household, it's difficult to find the time to plan and organize all this stuff. And even moms or dads who work don’t often feel that a really creative party is beyond their capabilities. Wedding event management companies are overflowed in Malaysia regardless Malays, Chinese or Indian's company. So Komz House will mainly focus in birthday celebration only especially for Kids aged 3-6.

• Target Market

Parents, single parents, and grandparents who don’t have the time or energy to plan and conduct a birthday party.Initially Komz House focus in celebrating birthday parties in kindergarten. So it target market will be students around the of age 4-6 and of course their parent who going to be producer for the event. Komz House mainly targeted the Kindergarten students in Shah Alam area.

• Differentiators

First mover advantage in offering surprise birthday party services in Kid’s kindergarten itself. Komz House dedicated to helping kids create special memories. The Kids able to express their individuality and imagination thru the activities during the birthday party.  Service excellence is achieved by creating an environment where the birthday kids and his guests feel like heroes by participating in professionally designed and facilitated theme activities.

Komz House became a current problem solver where kids surprise birthday party at their kindergarten currently does not exist. By providing this service its make someone's life more efficient. At the same time our service also save parents time. Nowadays parents having time poverty since both of the parents are working.

So we will provide A-Z service where from Party planning, preparation, and clean-up to hosting. Thru Komz House service less stress for the parents; it make someone's life more effective; moreover quality time can be spent with children; and lastly children have unique party experience

• Komz House Service is sold

·         Sell services thru social media & flyers at kindergarten. 

·         Prices range from RM 1000 to RM 2500. 

·         Description of Founders

·         Management team: Khirijha, Sinthuja & Anusuria

The team has combined work experience with expertise in sales, marketing, purchasing, training, party planning and entrepreneurship.

Outline for a Comprehensive Feasibility Analysis

Feasibility Analysis

• Product/ Service Feasibility

1. Product / Service desirability
2. Product/ Service demand

• Industry / Target Market Feasibility

1. Industry attractiveness
2. Target market attractiveness

• Organizational Feasibility

1. Management prowess
2. Resource sufficiency 

• Financial Feasibility

1. Total start up cash needed
2. Financial performance of similar businesses
3. Overall financial attractiveness of the proposed venture 

Feasibility Analysis an intro

In my previous post, I told you guys Business Plan is not the first thing that you need to prepare before venture into a business right?

So the answer is, you should do your 'Feasibility analysis'. What is feasibility? This question appear in the mind of most of students in the class. The feasibility analysis focuses on helping answer the essential question of "should we proceed with the proposed with the proposed project idea?" All activities of the analysis are directed toward helping answer this question. So through the feasibility study we can know whether we should continue with our idea or should drop it.

We were given task in the first class, to abstract our idea and the vision of the project. What about me? What my proposal? Jeng Jeng Jeng...

My idea is to involve in Birthday Party Celebration  just for Kindergarten Children. Even i already think the name of the event house but while reveal it later if my idea is success in feasibility analysis.

'Managing Entrepreneurial Thought and Action' what that meansssss... opsss

When Malaysian education system are raising the students for the employment orientate, the were certain crazy one like me have a huge dream to be an entrepreneur. So in the journey of WANNABE entrepreneur there are several steps where taken to ensure i'm in the correct path. One of those are continuing my Master In Entrepreneurship in my lovely University of Kelantan. All my friend said that i'm wasting my time and for choosing UMK as well but for me nobody knew UMK better than us ex UMK undergraduate students. That place mould us very well to be multi challenge person in the outer world called as 'society'. 

I'm proudly can tell the whole world that I'm officially enter to my specialization in MBA. My whole batch chose Entrepreneurship as our specialization. So our first module in our specialization course is 'Managing Entrepreneurial Thought and Action' guided  by Professor Dr Zulkarnanin. When i got email about the module i really dont have any idea what this module about. What they are going to teach about 'managing the thoughts'. ermm ermm. It is like psychiatry or something. But first class itself gave me a great exposure about the module. this module is for what the steps should a wannabe entrepreneur do before venture into a business. The first answer which will come out is "eleh you should prepare business plan la. Then get your bank loan or investment from the angels".

'Dooom'. Wrong answer. There are several steps.

Just stay tune for the steps and please do enjoy my journey as WANNABE entrepreur <3.