FUNDAMENTALS OF ENTREPRENEURSHIP

ENT300
GROUP ASSIGNMENT
BUSINESS MENTOR
FACULTY OF COMPUTER SCIENCE AND MATHEMATICS
DIPLOMA IN COMPUTER SCIENCE
GROUP MEMBERS:

NAME MATRIX NO.

1) AMIR SHAHIR BIN ROSLAN 2016485964
2) FAIRUZ HAZMAN BIN MAHAD 2016699048
3) MUHAMMAD AMER ATTURMUZE BIN 2016698848
MOHD ZAIDON
4) MUHAMMAD IZMALUDDIN BIN MUHAMAD 2016483158

SUPERVISED BY:
MADAM RUDZA HANIM MOHAMAD ANUAR

SUBMISSION DATE:
3rd May 2018
 Table of Content

Page

1.0) Executive summary………………………………. 02

2.0) Introduction………………………………………... 03
3.0) Business Information……………………………... 04
3.1) Company Background……………………… 04
3.2) Organizational Structure…………………… 05
3.3) Products & Services………………………… 06
3.4) Business Strategy…………………………… 07
3.5) Marketing Strategy………………………….. 08
3.6) Operational Plan…………………………….. 09
3.7) Financial Plan……………………………….. 10
3.8) Personal Achievement……………………... 11
4.0) Analysis……………………………………………. 12
4.1) Entrepreneurial motivation……………….. 12
4.2) Entrepreneurial competencies……………. 13
4.3) Entrepreneurial creativity…………………. 14
4.4) Entrepreneurial innovation……………….. 14
5.0) SWOT Analysis…………………………………... 15
6.0) Business Model Canvas…………………..…….. 16
7.0) Business Opportunity Propose…………………. 17
8.0) Conclusion………………………………………… 18
9.0) Appendices………………………………………… 19

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1.0) Executive Summary

According to businessmentors.org, Mentoring is most often defined as

a professional relationship in which an experienced person (the mentor)
supports and encourages people to develop specific skills and knowledge that
will maximise their business potential and improve their performance. In
short, it is the transfer of knowledge, skills and experience. The mentor acts
as a guide to find the right direction and develop solutions.

Based on the interview conducted, we hoped that we can learn a few

things such as:

• Starting a company
It is said to be very difficult when we first starting a company. we have
to make sure that we start nicely. We learn that using the concept of
‘bring their services to them’ is very effective to make customers desire
your services. People who has lazy nature can be an easy target. Next,
forming partnerships will make things easier as we will have someone
that can help us to start as steady as we can. It is also better if we
create or join a community that has the same nature as our business to
seek advice from any of them who are in the community.

• Handling a company
When it comes to handling a company, it is all depends on our
management skill. In our operation basis, we must trust each other to
do our work together. We shall also acquire high skill in the field that
we involve with. Other than that, we can have two ways of dealing with
customers which are online and face to face. On the financial matters,
all members own equal shares of the company which will instill a sense
of ownership in themselves. We also need to have some backup
savings when needed.

• Expand a business
If we wanted to have a wide range of business, we must start
promoting our business with the people that closest to us. Then, we
gradually change our promote target to the people on the social media.
Plus, using brochure, banner and flyers can also be effective to spread
the information of our business to many people.

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2.0) Introduction

When it comes to business mentor, we’re trying to find a company that

has been established for about 3 years or more. This is because, in our
opinion the duration is suffice for a company to be experienced in the
business world. Next, our company need to find another company to be our
business mentor that has the same business nature as ours which is
photography services. This is to ensure that we will be following the correct
guideline so that our business can thrive in the future.

We expect that we can take advantages and learn from of our business
mentor to:

• Enhanced strategic business initiatives

• Improved productivity of the company
• Elevating knowledge transfer from just getting information to the
retaining of practical experience and wisdom
• Critical feedback in key areas, such as communications,
interpersonal relationships, technical abilities, change
management and leadership skills
• Having a sharper focus on what is needed to grow
professionally
• Acquiring specific skills and knowledge that are relevant to
personal goals
• Access to a friendly ear with which to share frustrations as well
as successes
• Better understanding of our company’s overheads and cost
structures.

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3.0) Business Information

3.1) Company Background

Positive Studio Photowork is a company that is specialized in

photography, videography and merchandise making such as t-shirt
printing and many more. The company were founded by Mr. Mohd
Hafiz (or known as brother Joe) and his partner in early 2013 and
officially established in early 2015 with a starting capital of RM25000.
He and his partner founded this company due to the mutual interest in
business and is partner’s expertise in photography.
The member consists of 5 shareholders which is 3 photographers
(including the owner) and 2 videographers that has an equal amount of
percentage of the company’s revenue. The company recently have
acquired a small office in NO 44, TINGKAT 2, JALAN UTAMA 3/3
PUSAT KOMERSIL SRI UTAMA 85000 SEGAMAT JOHOR. This is to
ensure the business will runs smoothly in terms of operation and
administration.
The company is founded so that it can serve their customers in terms
of high quality photography and video editing which is demanding
nowadays at a reasonable price. The company also hoped that they
can continue with their mission and expand their nature of business
elsewhere in this country soon.

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 3.2) Organizational Structure
Positive Studio Photowork consists of 5 shareholders which is 3
photographers (including the owner) and 2 videographers that has an
equal amount of percentage of the company’s revenue. The details of
the company’s organizational structure are shown in the diagram
below:

Positive Studio Photowork

Organizational Chart

founder

co-founder

photographer videographer videographer

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 3.3) Products & Services

The company produces photography and videography services during

the early days of business. The company also produces some
merchandises such as T-shirts and keychains. There are a variety
designs of the T-shirts with the company’s logo printed on it and
keychains with different shapes. These merchandises also serve as a
purpose to promote their company. Customers who chose their
services and like it may buy their products to support the company’s
growth.

The company produces their photography and videography services at

any event at a cost of RM1000 per month based on current market. If a
customer comes to the company’s shop just to take photos such as
family photos, then it will cost RM20 per picture while passport photos
only cost RM10 per picture. If the customer wants to put the picture in a
frame, it will cost RM10 per frame. If the company were to use their
services at a huge event such as a grand wedding event or
convocational event, their services might increase based on how much
they have to set up at the event. As for their merchandises, T-shirts are
sold at RM20 per sheet and keychains are sold at RM7 per unit.

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 3.4) Business Strategy

The owner stated that in order for the company to attract more
customers, they have to ‘bring their services to them’. Customer only
had to contact the company, set up a meeting spot wherever they like,
and the company will go there. This will make the customer felt
appreciated and valued for choosing their services and also for their
convenience so that they do not have to search around the company’s
location which is quite secluded from town.

Another unique strategy the owner made up is forming partnerships

with another photography companies. The owner usually uses this
strategy when there is another company producing their services to the
same customer as they do. He would contact the company and form a
partnership with them. So, they would share their services for the
customer. Whenever one of the companies faced a problem during
their service, they would pass their work to their partner company and
vice versa.

Besides forming partnerships with another photography companies, the

owner creates one community with other companies. In that
community, the owner and others used this one mindset which is
following the concept of how Chinese do their businesses. The owner
and others help each other to increase the reputation of their company.

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 3.5) Marketing Strategy

The company initially uses mouth-to-mouth advertisement during their

early days of business. They would go to into school area promoting
their business to school teachers. Then, it will be passed mouth-to-
mouth to other individuals and the process repeats.

But, after a short while the company started to realize the effectiveness
of social media hence using it to promote their business to customers.
The social media that they have been using includes Facebook,
Instagram, and Twitter. The company found out that it is a whole lot
easier to set up a business page on social media than using traditional
techniques. It is proven since the owner claims that the company had
received more requests from customers than before.

The company sets up a Facebook page and Instagram profile that

stated their business nature and their company name Positive Studio
Photowork also their contact number. From here, customer can easily
find out about the company and to contact them. Moreover, customer
will feel more secure and a sense of trust due to positive feedbacks
and vouch that is given by other customers in the social media.

Furthermore, the company also uses brochure and placing posters and
banners all around the town to maximize advertising to customers
nearby. This way, customers know where they need their services also
contacting the company.

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 3.6) Operational Strategy

The owner of the company stated that each members of the company
will work based on their specialities and skills without interfering other’s
work. This is to ensure that all the projects made, and client requests
run smoothly and organized.
The company consists of 3 photographers and 2 videographers. As
they divide their work, each of them will only focus on their work
without interfering with other’s. They will progress with their work on
stages. Once they completed one stage, they will move on to the next
stage. However, once they move on, they will not interfere or change
anything in the previous stage.
The company has two types of ways of doing business which are
online and face to face. They use 2 tabs as their main devices for their
customers to reach them. One of the tab would be for online gallery
and the other tab would be for the means of communication. They can
deal with their customer outside of the company and at the office if the
customer chooses to come directly to them.

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 3.7) Financial Strategy

The owner stated in the interview that Positive Studio Photoworks uses
partnership strategy in the company. This allows all the members in the
company owns equal number of shares of the company which instil a
sense of ownership on each of the members.

But, there is also a risk in doing so. When the company starts to run
out of money or does not have enough capital to support daily
operation, each member in the company have to support it financially
as they are responsible for it due to the equal share of the company.

The owner also made a loan bank approximately RM5000 to buy

equipment such as camera, lighting and white canvas. There are also
equipment the owner lend or rent from other companies or
acquaintances to save the cost of equipment expenses.

Besides that, the owner also made savings even before he started his
business. He has been saving for 3 years with an expected savings of
at least RM2000 per year. If his business faces a financial crisis, he
could use his savings as a backup plan.

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 3.8) Personal Achievements

The owner of the company claims that they have successfully

produced a model that has already gain fame in modelling.

The model’s name is Eyqa Zaki. She started her career as a model
when the owner hired her for the company’s model. She worked
through her career by signing in with the company and made many
modelling jobs. As her pictures of modelling went viral through the
internet, her name was known to many other companies. Then, she
was hired to work with other companies. After years of working with
many companies, she became more famous and gain fames. Finally,
she succeeded in her career and the owner’s company also became
famous since it was the first company she worked with.

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4.0) Analysis

4.1) Entrepreneurial motivation

Based on the interview with the company, we received many
entrepreneurial motivations from it such as:

• Dare to take risk

When it comes to stating a business or a company, one must be
brave to face oncoming risks such as failure, bankruptcy and
many more. Like Mr Joe the owner of the company said, “If we
did not try, we will never know.”

• Don’t give up easily

During the interview, Mr. Joe once said that when we face
adversities and hardships in business, never ever give up.
Instead, learn from it and solve it slowly because at the end of
the day, it is all worth it.

• Learn from others

When it comes to business, never do it without any guidance.
Instead, take advice and guidance from the veterans of the
business. This way, we will know about the do’s and don’ts in
business.

• Teamwork
In a company, teamwork is the crucial element needed for
success. Without it, a company could not withstand longer as it
needs full cooperation of the members to manage it.

Based on the motivations received, we hoped that it would help our

company to achieve more in future prospects in expanding our
businesses.

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 4.2) Entrepreneurial competencies

We will have healthy competition with our competitors. In our opinion,

we should not have hard feeling between competitors, evenmore
sabotage our competitors. Furthermore, we dislike having enemy in
business that always want to put down each other but it is fine with us if
they want to be rivals in business because by having rivals will make
ourselves become even better competitors.

First of all, we will have healthy competition by learning everything that

we could from our competitors. We will not seek their weaknesses and
disadvantages to make their business fall but we will make that as our
lesson to overcome the weaknesses and disadvantages if we ever face
them. Other than that, we will take their strength and advantages as
our example so that we can make them better for our business to
achieve higher.

Next, collaboration is the most important thing in business and will

make business more successful if used wisely. We are thinking to
implement this kind of style in our business environment to create the
opportunity of becoming successful together with our competitors. We
will help each other such as in term of supply or services and give
advices to each other to increase the services that we can offer to our
customers.

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 4.3) Entrepreneurial creativity

According to the interview, we found that the company creatively

promoting their business by using social media such as Facebook,
Instagram, etc. as most people nowadays are well connected to it.
Hence, the company took the advantage to use it to promote their
company and their services.

Furthermore, the company is very creative in adding revenue to

business (merchandise). This thought has made more customers who
become the fans of their merchandise to seek for their services.
Besides that, this revenue has become one of the main income to
supports the company financial.

4.4) Entrepreneurial innovation

According to the interview, the company displayed their innovative idea

by putting the picture they produced on canvases. This made the
picture more unique and more realistic compared to the other
companies that only printed the pictures on glossy paper and frame it.
Their skill in photo editing has took the photography world on a whole
new level. The pictures produced resulted from their editing are
stunning. They could make a view that never exist in the first place
looks like the real thing.

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5.0) S.W.O.T Analysis

Strength Weaknesses

• Acquired business skills and • Lack of staff during early days

photography skills. of business.
• Dare to take any risks
• Enough starting capital

Opportunity Threats

• Increase in photography • Business monopoly by the

services demand in the area. Chinese
• Gain support from mutual
business

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6.0) Business Model Canvas (BMC)

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7.0) Business Opportunity Propose

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 Based on the interview conducted with our business mentor from Positive
Studio Photowork, there is a lot of business opportunity that we can take
advantage of for our upcoming business.

Firstly is the method of marketing done by the company itself. Nowadays,

people mostly spend their time on social media so, we can use this kind of
platform as our business opportunity to promote our services and advertise
our merchandise. Hence, the information of our services can instantly reach
people whenever they surf the social media. Moreover, advertising through
social media is very low on cost compared to the other method of advertising.

Next, the place that we choose to offer our services. Most of the time, people
in the city usually need the service of a photographer to take their pictures in
any of their occasion or function. Hence, we want to take this as our business
opportunity and take the initiative to be the one who will make our base of
operation near the city. If we do this, hopefully people will turn to us for our
services.

Lastly, we need to revise our market value for our services if needed and add
any package of promotion to attract customers and fight with the competitors.
Competitors may try to reduce their services price even lower than us but we
will counter it with our extraordinary package of promotion that most of people
cannot resist with. This will increase the number of customer who will use our
services more regularly.

These are the business opportunity that we think can be fully utilized in order
to achieve the organizational goals and meet customer’s requirements and
needs.

8.0) Conclusion

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 In a nutshell, this interview objective is to know how to prepare our business
strategy, marketing strategy, operational strategy and financial strategy. All of
these strategies can be really difficult to think about but it helps us create our
own business smoothly. This interview also teach us on how to hold our stand
in early stage of starting a business. Before starting a business, we must
consider on how to handle a company and expand our business. From this
interview, we get our inspiration to generate our own business opportunities
propose and S.W.O.T analysis. If we can fully utilize those business
opportunities, there will be more customers that will request for our services.
Other than that, it makes us realize that in business, we need our own idea of
entrepreneurial motivation, entrepreneurial competencies, entrepreneurial
creativity and entrepreneurial innovative. By getting a hold on those ideas, we
believe that our company will gain reputation in no time. We hope we can
applied these knowledges that we have learn from our mentor to our business
in the future.

9.0) Appendices

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 • Business Cards

• Location

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 • Interview Recording

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