ENT300 - Business Opportunity PDF

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FACULTY BUSINESS AND MANAGEMENT

DIPLOMA IN INVESTMENT ANALYSIS (BA114)

FUNDAMENTALS OF ENTREPRENEURSHIP (ENT300)

A2 : BUSINESS OPPORTUNITY

PREPARED BY: ILLY AMEERA BINTI MOHD AZIZAN 2019205922

GROUP : JBA1144G

PREPARED FOR : SIR KAMARU ADZHA BIN KADIRAN

DATE OF SUBMISSION: 1 July 2021

TABLE CONTENT

PAGE Rubric

Table Content

1

1.0

Executive Summary

2

2.0

Project Description

3-4

3.0

Project Outcome

4

3.1

Simple calculation of money flow

4.0

Experiential Learning

5

5.0

Conclusion

6

Appendices

1

1.0

Executive Summary The aim of this project is to expose students to identifying business opportunities in their

surroundings. Every student needs to conduct a business activity either sell a product or offer a service. We as students can decide whether to choose an online business or offline business and the duration of this project is from 30th May 2021 to 30th July 2021.

For this project, I chose a chocolate jar as my business, which is Mellow Crunch but I only became a dropship for this product. Mellow Crunch is a chocolate jar that is made with chocolate rice balls, premium cocoa malt powder, vegetable oil, and chocolate. The reason I chose this product is because I like chocolate and this product is quite famous in social media. My target market is to people who like something sweet or chocolate and it is suitable for all ranges of age.

Before I start this project or business, I have to join as a dropship. Being a dropship for this product does not need to pay any capital to start it, just needs to learn how to find customers and promote the product properly. Then, after a month of this project, I gained 8 customers and profit RM14 from my sales commission. Based on this project or business opportunity, I gained a lot of knowledge from my leader. All people who do business should know that knowledge to improve their business and to be successful in the future.

2

2.0

Project Description - Before Activity For this project, I chose a food-based business which is a chocolate jar business called

Mellow Crunch. The owner of this product is Encik Hanif Jamal. Mellow means smooth, soft, relaxed, or cool. While crunch means the crunchy texture of the chocolate rice balls with the cocoa malt powder. The ingredients of this product are chocolate rice balls, premium cocoa malt powder, vegetable oil, and chocolate. Also, this chocolate jar has no sugar added. The weight of this product is 310 grams. The price of this product is quite affordable. 1 jar for RM13.90, if you buy 2 jars you will get some discount and a free paper bag for RM27. (Figure 1. Product and logo)

The reason I chose this product is that I love chocolate so this business suits me better. Other than that, I chose this product because this product is popular on social media, so with that hype, there will be many customers. That’s why I wanted to be a dropship of this chocolate jar business. (Figure 2. Proof being dropship for this product). The target market for this product is for the person who likes sweets or chocolate and this product is suitable for all ranges of age. The duration that our lecturer set for this online business is around one month, which is from 30th June 2021 until 30th July 2021.

The way I sell the product to customers is through an agent. Firstly, I signed up as a dropship of this product. Being a dropship for this product I do not need to keep the stock and I do not need to deliver to the customer. I just need to find customers and promote it through my social media or other promotional tools that I have. Such as Facebook, Twitter, Instagram, and Whatsapp. If the customer wants to buy the chocolate jar, they can contact me through the promotion tools that I prepared. Social media is easy to use because I often use it and I can notice customer messages when they are interested in the product that I sell. When I get an order, I need to pass that order to my agent and they will send or post the product to the customer. From that sale, I will gain some commission. For example, if I sell a chocolate jar I will get RM1 from the selling price. (Figure 4. Commission).

3

The reason I use my personal social media is because in my personal account I have many followers and acquaintances that might be my customers. If I use or create a new account I need to gain new followers. I know that we need to separate personal and business. But using this method, I can gain customers easily. Also, if I get many regular customers and good response from this business, I will create my business account and promote everything related to my business there.

3.0

Project Outcome - After Activity

After a month of being a dropship for Mellow Crunch, from May 30, 2021 to July 30, 2021, the total number of units sold was 11 units of chocolate jars. By being a dropship I don't need to keep or hold any stock, only the agent needs to keep stock. Therefore, I have no stock or product balance. Apart from that, within a month, I was able to get 8 customers and the total profit I earned was RM14 from my sales commission. For a small business like this, 8 customers in a month are quite a lot. Therefore, by being a dropship of this product, I do not incur any loss. The table below is my simple calculation of money cash flow.

3.1 Simple calculation of money cash flow Sales Choco Jar (Mellow Crunch)

Date

Customer (Who)

Quantity

Price (RM)

Commission (RM)

5/6/2021

Kak Sarah

2

27 + 6

3

6/6/2021

Nabila

1

13.90 + 6

1

12/6/2021

Anis Syafiah

1

13.90 + 6

1

15/6/2021

Zeb

1

13.90 + 6

1

17/6/2021

Alia

2

27 + 6

3

19/6/2021

Choo

2

27 + 6

3

21/6/2021

Mira

1

13.90 + 6

1

28/6/2021

Syaf

1

13.90 + 6

1

Total

11

198.50

14

4

4.0

Experiential Learning - Students Experience After doing this project, I got to learn new knowledge and experience. This project also

gave me a little awareness that doing business is not an easy thing. To do business we need to have the business knowledge and learn it from people who are more experienced. Regardless, the product is famous on social media or anywhere. This knowledge is important to start a business or to start anything you want to do.

From this project, I learned how to be more confident when interacting or communicating with customers and how to promote the product in the right way. In addition, to do business we need to be diligent and remain active in uploading pictures or video promotions on every platform that I have or use. I need to promote consistently, like Marie Forleo once said, “Success doesn't come from what you do occasionally. It comes from what you do consistently.” So if you want to be successful you must be consistent in anything that you do. If I don’t promote properly or lack doing promotion, customers will not remember the product I sell.

Before I started being a dropship for this product, I used to sell cupcakes but the customers that I get in a month are not as many as this project, due to lack of promotion and many more. From this project and being a dropship for this product, I get to learn many things to improve my business skills. As a seller, you need to know all of those ways, skills, and knowledge to be more successful in the future.

Other than that, I also realize that I need to take care of customer satisfaction to encourage them to buy with me again. I need to know whether the product being sold is worth the money the customers spend as well as their expectations. By getting feedback from the customer, I can get to know all that. (Figure 8. Customer’s Feedback)

5

5.0

Conclusion In conclusion, nothing is easy in this world, all things have to start with learning or

seeking knowledge from experienced people and there are no shortcuts to success in this business world. If you want to start a business you need to follow yourself or your heart. Like Thomas Watson Sr. once said, “To be successful, you have to have your heart in business, and your business in your heart.” You must love or like what you want to do so that it will go smoothly.

In my opinion, having this project can help me to improve my business skills, build my self-confidence to interact with customers, and this project is also able to teach me to overcome whatever challenges I face in my business. In addition, it also motivates me to continue the old business.

6

Appendices

Figure 1. Product and logo of the product

7

Figure 2. Proof being dropship for this product

8

Figure 3. Promote through status Whatsapp 9

Figure 4. Dropship commission per jar

Figure 5. Promote through Instagram Story

10

Figure 6. Prove customer buying & bank transaction from customer

11

Figure 8. Customer’s feedback

12...