Starting a New Mini Business

Hi everybody..
Finally, after my class finish the topics of business idea and business plan, our lecturer, Madam Rafidah Abd Razak give us a chance to start a new business activity. All of my classmate are excited to except this project. Our class has been divided into 3 big groups. Each group consist of 10-11 group members.

My group decided to make a new business in photography field. This is because we have 2 group members that are expert in photograpy. Our business company name is The Colour of Life. The picture below is our business company logo.

I know, you must be wondering, why we call our business company The Colour of Life..
As we know that, most of the students will not even stop their steps to view the “colour” of the environment that around them.

By our photography business, we wish to give all the students in University Utara Malaysia (UUM) an insight into how the “Colour of Life” can bring them sweet memory in their University life. We can help students to capture their classmates, course mates, club mates and many more to give them memorized their life in University.

This is why we want to name our business as “Colour of Life”. Colour of Life is a method of enabling individual to remember their “colour” in UUM. We provide service for any group in UUM that want to capture their memory. Our target market are co-curriculum classes, clubs in UUM, classes in UUM, organizations, or any other groups.

There are 11 group members in my business group. There are Choong Hon Kit as director, Mohd Zaidi Bin Desa as manager, Tee Chee Seong as finance department manager, Chin Ting Ting as administrative department manager, me as administrative department personnel, Nor Liyana Zakaria as administrative department personnel, Pipin Ramadhani as marketing department manager, Wong Sze Hoey, Leong Kwei Fung, and Keok Shin Siew that work in marketing department, and last Putra Aulia as logistic department manager.

The picture below is our group members photo, that is taken for the sample of our service.

The Most valuable thing that I learned in Project Business Plan

Many people say, a good plan will produce a good result and success. It is true. I agreed. In order to achieve success, we should start with a detail plan. We cannot directly run the business without thinking about the planning and preparation.

Most people who had done it could not run their business in long time. The business will run only for a moment.

The business plan should consist of the business information, management team, company structure, ownership, and intellectual property, industry analysis, marketing plan, operation plan, financial plan, and critical risk factors.

This business plan must explain in detail the whole thing that will be done in the business activities. So, it should be written with great detail.

When me and my group members was doing this business plan, we tried to make it as detail as possible. We tried to plan all of the possibilities that would be happened in the business activities. But one thing that made me learn, we should make the business plan that possible to be done.

We cannot plan something that is impossible to be done. If we do that, then the only thing that will happen is we will be trouble when running the business.

Reflect on learning – The most valuable thing that I learned in Project Business Idea

Like I said in my previous post. When we work on a project, we have to think outside the box. It means that we can not think only on our perspective.

We should think from many perspectives. It is because when we think from many perspectives, we can understand a problem or a certain thing in various understanding.

Working in a group helps us to do that. With 11 people in a group, I can understand and look at a thing or problem in various views. It is because every people has their own mind, every people has different perspective and view.

When different people are working in a group, there would be many views and ideas that can help lead the group in the project and facing problems in group.

It is same like my group, The Colour of Life. It is amazing to have been joined into this group. I was very surprised and amazed when we implement our first meeting. When our lecturer, Madam Rafidah, asked my class to do some questions, we started to discuss and share our opinions and views. We done the brainstorming for this discussion. We speaked out all of our opinions and views in our mind.

In that time, I was surprised that my group member thought a thing in different views like she thought. I was not imagine before that it could happened. It is so valuable for me, that we can learn from other people views and perspectives. It makes us become rich of knowledge.