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Basic Steps:
To Identify your Focus of Business
a) Basic Nature of Business (Huge competitors)
i. Trading - Location (for advertising, population based)
- Product (for profits, break even point)
- Term of Payment (for working capital)
- Your offer is : The products & price.
ii. Wholesaler - Warehouse (for storage, bulk purchase)
- Transportation (large in, must large volume out)
- Term of Payment (for working capital)
- Products (for profits, break even point)
- Your offer is : The products & price.
iii. Retailer - Location (for advertising, population based)
- Different types of products (for profits, break even point)
(must combine larger different types of stock)
- Your offer is : The products & price.
iv. Manufacturer - Raw Material (for costing)
- Storage (for raw material, work-in-progress, finished goods)
- Your offer is : Contract Manufacturing
v. Servicing line - Location (for advertising, population based)
- Must combine with products while servicing
- Your offer is : Repair, Services
b) Higher End for Nature of Business
(Stand in Front Line, to be Special)
i. Servicing Line plus products.
- Introduce new skills, new technologies, new products.
- A specific type of products direct to end user.
- Be the First
ii. Trading / Retailer / Wholesaler
- Introduce new product direct to end users.
- Franchise concept
- Be the First
iii. Manufacturer
- Performing Research & Development (own Product)
- Offer your product direct to End User, or Franchise
- Be the First
Is it really hard to be the first?
The formula is from experience by understanding the demand and create the demand at the same-time.
Just put it into this condition for better understanding:
If you were back in school days, how much do you score for a subject that is not at your interest?