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

Copyright 2005-2006 Ignite your Imagination 1

Ignite Your Imagination

Helping Dawoodi Bohras Start or Excel

in Business Ventures

Pervez (Mustafa) Nooruddin

Copyright 2005-2006 Ignite your Imagination Page 2

….so why did I step in?

Client Account and Program ManagerMarketing Analytics & CRMGlobal Information Systems

Kraft Canada Inc.

Management Consultant

Ignite Your ImaginationIn collaboration with

Warm HandshakesShaul Info Research

Pervez (Mustafa) NooruddinP.Eng, CMA, MBA, MDAP, CMC, CQM, PMP, ATM-B/CL

1. CIDA Program Manager for SME/NGO development and financing

2. Project Manager for Aga Khan Rural Support Program (AKRSP)

3. Masters in Development Planning with thesis on Islamic Financial system and impact on Economic Development through SME

4. Management consultant providing advisory services to SMEs through Industrial Research Assistance Program (IRAP)


Objective

1. Help community forum to help start a profitable and sustainable business venture

2. Planning your business venture

3. Four Strategic Business Alternatives

4. Planning YOUR BUSINESS and Watch-outs!

5. Alternative options on HOW OUR COMMUNITY CAN HELP AND/OR GET INVOLVED


Need Justification

1. Farmaan from Aqua Moula (TUS)

2. Over 90% of mumineen doing jobs in Canada

3. Economic Research confirms the fact that SMEs are the best engine for sustainable economic growth and employment creation

4. Economic Development Research confirms the fact that Islamic Financial system is the ideal engine for SME development


Planning your Business

IF YOU FAIL TO PLAN

YOU HAVE

PLANNED TO FAIL!


Business Planning Process

Overall Strategic

Plan

RealizationPlan

ExternalAnalysis

Internal Analysis

Business Idea!

FinancialEvaluation

ALT 3Pros

& Cons

ALT 2Pros

& Cons

ALT 1Pros

& Cons

SITUATIONAL ANALYSIS

STRATEGIC ALTERNATIVES

RECOMMENDATIONS

BI


Business Idea!

Four Strategic Alternatives

1. Jump In!

2. Quick Start!

3. Copy-Cat!

4. Bleed to Lead!


1. Jump In!

Buy an operational businesswww.canadianbusinessforsale.com

www.businesssellcanada.com

www.businessesfor-sale.com

www.bizmatch.ca

www.globalbx.com

www.mergerplace.com

www.mergernetwork.com


2. Quick Start!

Buy an operational Idea (Franchise)

www.cfa.ca

www.franchisedirectcanada.com

www.franchiseinfomall.com


3. Copy Cat!

MLM and Home based businesses

1. Selling Ridah and dresses

2. Make up services

3. Desi (Grocery) Store, Dollar Store

4. Sales Agents (Exhibitions, AVON, Knives, Air/Water purification)

5. Primerica, JD Edwards, Amway, Quick Star, Nikken


4. Bleed to Lead!

Start a business from Ground Up

1. Significant Market Research

2. High Risk and Rewards

3. Not a ONE-PERSON task!



Overall Strategic

Plan

RealizationPlan

ExternalAnalysis

Internal Analysis

Business Idea!

FinancialEvaluation

ALT 3Pros

& Cons

ALT 2Pros

& Cons

ALT 1Pros

& Cons



RECOMMENDATIONS

BI


Internal Analysis

OUR STRENGTHS

1. Structured Organization

2. Ethical Values

3. Entrepreneurial Traits

4. Southern Connections

5. Willing Mentors

6. Diverse backgrounda) Trading (Imports)

b) Retail/Consumer

c) Technology

7. Financing Resources

OUR WEAKNESSESS

1. Living in History

2. Lack of self confidence

3. Start Small mindset

4. Planting southern seeds

5. Get Rich Quick mindset

6. Accept Northern Culture and Economy

7. Business Planning and Research Knowledge

8. Fear of open honest discussion on finance


External Analysis

OPPORTUNITIES

1. Industry Canada Support

2. Baby Boomers (Health Care, Services)

3. Healthy Lifestyle (Tea, Organic)

4. Energy Conservation

5. Recognition of Diversity

6. Specific Opportunitiesa) Exports (High Tech)

b) Service Sector (Health & Food)

c) Convenience Lifestyle (esp. Seasonal)

7. Financing Resources

THREATS

1. Oligopolistic Market

2. Commoditization

3. Mid market squeeze

4. Franchising mania

5. China dump

6. Outsourcing Services

7. Strategic Relationships

8. Increasing Trade barriers

9. SME failure rate (>80%)

10. Muslim stereotyping


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.



Overall Strategic

Plan

RealizationPlan

ExternalAnalysis

Internal Analysis

Business Idea!

FinancialEvaluation

ALT 3Pros

& Cons

ALT 2Pros

& Cons

ALT 1Pros

& Cons



RECOMMENDATIONS

BI


Business Learning's & Watch-outs

HISTORY

NEVER REPEATS ITSELF

… BUT

IT OFTEN RHYMES!Mark Twain


Four Basic SME Learning's

1. Failure to Launch!

2. Survival in First Year.

3. Growth in 3 – 5 years.

4. Expanding business after 5 years


Failure to Launch!

FACT: 75% of people fail to start a business

1. Always searching for a GOOD Business

2. Trade/skills and not business focused

3. Not taking the Risk!


Survival in First Year

FACT: 30% of business fail in First Year

1. Cold Feet

2. No Marketing Plan

3. Fail to understand `Customer Decision Tree’


Growth in 3 – 5 Years

FACT: 80% of business fail in 3 – 5 years

1. Lack of Business Management Skills

2. Focus on profit and not growth

3. Fail to develop customers


Expanding business after 5 years

FACT: 60% of business fail to change

1. Getting comfortable with success

2. Fail to recognize demographic change

3. Fail to recognize competitors/substitutes


To start a successful business…

NEED TWO THINGS

1.BURNING PASSION

and BHAG باغ.2


Some Good Business Leads

Learn all about starting a small business

at www.cbsc.org and strategis.gc.ca

Manufacturing Industries

• Assistive devices• Giftware and Crafts• Hydrogen and Fuel Cells• Plastics (consumer and industrial)

Resource Industries • Hydrogen and Fuel Cells• Renewable Energy• Mining and Metals

Service Industries • Professional Services (Bus/Ind) • E- Services (e-bay etc)• Export / Whole Sale

Technologies • Environmental Technology• Life Sciences• Water Technologies


How can our Jamat Help aspiring Business persons?

1. Distributed GrowthOn your own, Informal advice and support

2. Network GrowthConnecting people for business opportunities

Promoting partnerships and joint ventures


Our Options?

1. Distributed GrowthOn your own, Informal advice and support

2. Network GrowthConnecting people for business opportunities

Promoting partnerships and joint ventures

3. Synergistic GrowthFormal process to leverage individual competencies / capabilities

Share in success and failures (Mutual Fund concept)

Co-operative business structure


In Summary

1. Why start a business?

2. The need to plan

3. Four Strategic Business Alternatives

Jump In; Quick Start; Copy-Cat; Bleed to Lead!

4. Identified some business opportunities / ideas

5. Proposed a model on how the Jamat can possibly help the mumeneen


Questions / Concerns / Ideas

Ignite Your ImaginationPervez (Mustafa) Nooruddin

P.Eng, CMA, MBA, MDAP, CMC, CQM, PMP, ATM-B/CL

(905) 887-1691

[email protected]