Copyright 2005-2006 Ignite your Imagination 1 Ignite Your Imagination Helping Dawoodi Bohras Start or Excel in Business Ventures Pervez (Mustafa) Nooruddin.

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  • Ignite Your ImaginationHelping Dawoodi Bohras Start or Excel in Business Ventures

    Pervez (Mustafa) Nooruddin

    Copyright 2005-2006 Ignite your Imagination

  • .so why did I step in?Client Account and Program ManagerMarketing Analytics & CRMGlobal Information Systems

    Kraft Canada Inc. Management ConsultantIgnite Your ImaginationIn collaboration withWarm HandshakesShaul Info ResearchPervez (Mustafa) NooruddinP.Eng, CMA, MBA, MDAP, CMC, CQM, PMP, ATM-B/CLCIDA Program Manager for SME/NGO development and financingProject Manager for Aga Khan Rural Support Program (AKRSP)Masters in Development Planning with thesis on Islamic Financial system and impact on Economic Development through SMEManagement consultant providing advisory services to SMEs through Industrial Research Assistance Program (IRAP)

    Copyright 2005-2006 Ignite your Imagination

  • ObjectiveHelp community forum to help start a profitable and sustainable business venturePlanning your business ventureFour Strategic Business AlternativesPlanning YOUR BUSINESS and Watch-outs!Alternative options on HOW OUR COMMUNITY CAN HELP AND/OR GET INVOLVED

    Copyright 2005-2006 Ignite your Imagination

  • Need JustificationFarmaan from Aqua Moula (TUS)Over 90% of mumineen doing jobs in CanadaEconomic Research confirms the fact that SMEs are the best engine for sustainable economic growth and employment creationEconomic Development Research confirms the fact that Islamic Financial system is the ideal engine for SME development

    Copyright 2005-2006 Ignite your Imagination

  • Planning your BusinessIF YOU FAIL TO PLANYOU HAVE PLANNED TO FAIL!

    Copyright 2005-2006 Ignite your Imagination

  • Business Planning ProcessOverall StrategicPlanRealizationPlan ExternalAnalysisInternal AnalysisBusiness Idea!FinancialEvaluationALT 3Pros & ConsALT 2Pros & ConsALT 1Pros & ConsSITUATIONAL ANALYSISSTRATEGIC ALTERNATIVESRECOMMENDATIONSBI

    Copyright 2005-2006 Ignite your Imagination

  • Business Idea!Four Strategic AlternativesJump In! Quick Start!Copy-Cat! Bleed to Lead!

    Copyright 2005-2006 Ignite your Imagination

  • 1. Jump In!Buy an operational businesswww.canadianbusinessforsale.comwww.businesssellcanada.comwww.businessesfor-sale.comwww.bizmatch.cawww.globalbx.comwww.mergerplace.comwww.mergernetwork.com

    Copyright 2005-2006 Ignite your Imagination

  • 2. Quick Start!Buy an operational Idea (Franchise)www.cfa.cawww.franchisedirectcanada.comwww.franchiseinfomall.com

    Copyright 2005-2006 Ignite your Imagination

  • 3. Copy Cat!MLM and Home based businessesSelling Ridah and dressesMake up servicesDesi (Grocery) Store, Dollar StoreSales Agents (Exhibitions, AVON, Knives, Air/Water purification)Primerica, JD Edwards, Amway, Quick Star, Nikken

    Copyright 2005-2006 Ignite your Imagination

  • 4. Bleed to Lead!Start a business from Ground UpSignificant Market Research High Risk and RewardsNot a ONE-PERSON task!

    Copyright 2005-2006 Ignite your Imagination

  • Business Planning ProcessOverall StrategicPlanRealizationPlan ExternalAnalysisInternal AnalysisBusiness Idea!FinancialEvaluationALT 3Pros & ConsALT 2Pros & ConsALT 1Pros & ConsSITUATIONAL ANALYSISSTRATEGIC ALTERNATIVESRECOMMENDATIONSBI

    Copyright 2005-2006 Ignite your Imagination

  • Internal AnalysisOUR STRENGTHSStructured Organization Ethical ValuesEntrepreneurial TraitsSouthern ConnectionsWilling MentorsDiverse backgroundTrading (Imports)Retail/ConsumerTechnologyFinancing ResourcesOUR WEAKNESSESSLiving in HistoryLack of self confidenceStart Small mindsetPlanting southern seedsGet Rich Quick mindsetAccept Northern Culture and EconomyBusiness Planning and Research KnowledgeFear of open honest discussion on finance

    Copyright 2005-2006 Ignite your Imagination

  • External AnalysisOPPORTUNITIESIndustry Canada Support Baby Boomers (Health Care, Services)Healthy Lifestyle (Tea, Organic)Energy ConservationRecognition of Diversity Specific OpportunitiesExports (High Tech) Service Sector (Health & Food)Convenience Lifestyle (esp. Seasonal)Financing ResourcesTHREATSOligopolistic Market CommoditizationMid market squeezeFranchising maniaChina dumpOutsourcing ServicesStrategic RelationshipsIncreasing Trade barriersSME failure rate (>80%)Muslim stereotyping

    Copyright 2005-2006 Ignite your Imagination

  • Business Implications (BI)If Dawoodi Bohras want to succeed in business ventures in North America, they must:Understand and explore opportunities in Northern Culture and Economy Create an environment of trust in the community/group with empathy and without penalty.Create a formal structure/organization to help Bohras start up and manage their business with a `help-line if the business needs help.

    Copyright 2005-2006 Ignite your Imagination

  • Business Planning ProcessOverall StrategicPlanRealizationPlan ExternalAnalysisInternal AnalysisBusiness Idea!FinancialEvaluationALT 3Pros & ConsALT 2Pros & ConsALT 1Pros & ConsSITUATIONAL ANALYSISSTRATEGIC ALTERNATIVESRECOMMENDATIONSBI

    Copyright 2005-2006 Ignite your Imagination

  • Business Learning's & Watch-outsHISTORY NEVER REPEATS ITSELF BUT IT OFTEN RHYMES!Mark Twain

    Copyright 2005-2006 Ignite your Imagination

  • Four Basic SME Learning'sFailure to Launch! Survival in First Year.Growth in 3 5 years.Expanding business after 5 years

    Copyright 2005-2006 Ignite your Imagination

  • Failure to Launch!FACT: 75% of people fail to start a businessAlways searching for a GOOD BusinessTrade/skills and not business focusedNot taking the Risk!

    Copyright 2005-2006 Ignite your Imagination

  • Survival in First YearFACT: 30% of business fail in First YearCold FeetNo Marketing PlanFail to understand `Customer Decision Tree

    Copyright 2005-2006 Ignite your Imagination

  • Growth in 3 5 YearsFACT: 80% of business fail in 3 5 yearsLack of Business Management SkillsFocus on profit and not growthFail to develop customers

    Copyright 2005-2006 Ignite your Imagination

  • Expanding business after 5 yearsFACT: 60% of business fail to changeGetting comfortable with successFail to recognize demographic changeFail to recognize competitors/substitutes

    Copyright 2005-2006 Ignite your Imagination

  • To start a successful businessNEED TWO THINGSBURNING PASSION and BHAG

    Copyright 2005-2006 Ignite your Imagination

  • Some Good Business Leads

    Learn all about starting a small business at www.cbsc.org and strategis.gc.ca

    Copyright 2005-2006 Ignite your Imagination

  • How can our Jamat Help aspiring Business persons?1. Distributed GrowthOn your own, Informal advice and support2. Network GrowthConnecting people for business opportunities Promoting partnerships and joint ventures

    Copyright 2005-2006 Ignite your Imagination

  • Our Options?1. Distributed GrowthOn your own, Informal advice and support2. Network GrowthConnecting people for business opportunities Promoting partnerships and joint ventures3. Synergistic GrowthFormal process to leverage individual competencies / capabilitiesShare in success and failures (Mutual Fund concept)Co-operative business structure

    Copyright 2005-2006 Ignite your Imagination

  • In SummaryWhy start a business?The need to planFour Strategic Business Alternatives Jump In; Quick Start; Copy-Cat; Bleed to Lead!Identified some business opportunities / ideasProposed a model on how the Jamat can possibly help the mumeneen

    Copyright 2005-2006 Ignite your Imagination

  • Questions / Concerns / IdeasIgnite Your ImaginationPervez (Mustafa) Nooruddin P.Eng, CMA, MBA, MDAP, CMC, CQM, PMP, ATM-B/CL (905) 887-1691 perveznoorudin@rogers.com

    Copyright 2005-2006 Ignite your Imagination