Attended MARA RETAIL 2014....applauded the effort by MARA conducting an event and invited speakers from credible business man and woman to share their invaluable experienced. Some of learnings I captured:
1) FIZO OMAR - CEO HOT Burger
His achievements:
- 100 stalls in 3 states Kelantan, KL and Selangor
- Less than 2 years operated
- Was a national Football player, actor, studied civil engineering
- Wrote a book " Air Tangan Fizo" dedicated to his mum
His advises:
- Observed successful people and learn
- Positive thinking
- think big, big goals (write them down)
- sell your brand
- believe in MESTI
M-Mentor - you must have a mentor in your business venture
E-Elmu/Emotions - you need to have the knowledge and competency with strong EQ
S- Sistem - you need to plan before venturing in the business with a system
T- Tindakan - Act Now
I - Impian - you nee to dream big
- you need to have a good "niat" before embarking in a business - what is your contribution to the community , not getting rich is your first aim
- to be Brave
- When market you products, you sharing techniques not selling techniques
- konsep berkongsi rezeki must have in mind
- to convince other people to join you, you need to prove, build trusts
2) HASAMUDDIN AMI - MD OF ACEFRONT
His achievements:
- worked as Finance Manager with MNC companies such as Samsung, Motorola and Alps Electric
- At the age of 38 started his own business - Petronas Petrol Pump Station (area Pedas Linggi)
- 19 Dec 2007 started to operate manufacturing of frozen food
- Exported the food to Japan, Korea
- Has 70 acres of Shrimps Ponds - it produces 3 tonnes of shrimps for every 3 months (Sales RM75,000, Nett RM20,000) one year sales from the shrimps ponds = RM 4Million
- He had to learn from scratch on shrimp seeding
- Started on Frozen Retail named Permata Frozen, via his vehicle company - ACE MARKETING
His advises:
- Have a mentor - his best friend is his mentor
- You need to have a right attitude
- Honesty in conducting your business as per Rasullulah
- Focus
- Take care of your cash
- Believe in the Surah Alam Nashrah
3) DATO' HAJI CHE UMAR - FOUNDER PASARAYA SAKAN
- 30 years in retail business
- 93 branches in Malaysia, with 1200 employee
- started his business 1980 with RM200 capital and resigned his position as Pengarah Perkeso and opened a small shop in Kuala Kangsar
- Now his company venturing into expo
His advises:
- You need to like what you do - he loves "berniaga", when you love something you will do it wholeheartedly and unconditionally
- Whatever you cannot sell, you sell it cheap and "lelong" at the expo
- No such words of "No capital, no business"
- Please pay your debt promptly to get good credit ratngs with bankers
- Your business need to have a short credit period, hands on management , product knowledge
- You need to be honest
- Price strategy is very important so please prepare wholesaler and retailers pricing.
- Please be competitor savvy. Your price at least lower than main competitor
- Follow the latest trend - he has Fashion team that go to Kenanga Wholesale and other places to check out new trend
- variety of choices
- great and cannot resist promotion
- you need have a good attitude
- you need to have capital to expand your business
- you need to be hardworking, brave
- you need to have a good networking
- market your products in advertisement, update your FB
- For hot items in the your shop, buy cash and high volume from supplier
- Be nice and friendly to your supplier, you will get all information on the latest trend
- MAIN HEADACHE IN BUSINESS IS WORKERS - SHORTAGE OF WORKERS - Nepal workers are the best
- CASH IS KING
- unsaleable items - make it BIG SALE (MARKED DOWN 50%)- to change them into CASH
- buy only WHAT CUSTOMER WANTS, NOT WHAT YOU WANT
- take care of your inventory
- take care of your staff welfare - always unite them
- Always think Positive
- make sure you establish customer service
- start small to gain experience
- if competitor buys a product - follow them
