Exit Strategy

People keep concerning the best way to enter the market. Yet, most of them do not plan how to get out off there when the conditions suddenly become not viable for the business to operate or grow. The exit strategy is important to consider before a company enter a market. There are 5 primary exit strategies available for the entrepreneur.

1. The Modified Nike Maneuver: Just Take It. One favorite exit strategy of some forward-thinking business owners is simply to bleed the company dry on a daily basis. Pay yourself a huge salary, reward yourself with a gigantic bonus regardless of actual company performance, and issue a special class of shares that only you own that gives you ten times the dividends the other shareholders receive. Although we frown upon these practices in public companies, in private companies, this actually isn't such a bad idea.
2. The Liquidation. One often-overlooked exit strategy is simply to call it quits, close the business doors, and call it a day. If you liquidate, however, any proceeds from the assets must be used to repay creditors. The remainder gets divided among the shareholders--if there are other shareholders, you want to make sure they get their due.
3. Willy Wonka Style: Selling to a Friendly Buyer. If my neighborhood piano bar owner had asked, we might have wanted to buy the business ourselves. You see, if you've become emotionally attached to what you've built, even easier than liquidating your business is the option of passing ownership to another true believer who will preserve your legacy. Interested parties might include customers, employees, children or other family members.
4. The Acquisition. The acquisition was invented so you can sell your business and leave the kids money, still spoiling them rotten, but at least sparing the business from second-generation ruin. Acquisition is one of the most common exit strategies: You find another business that wants to buy yours and sell, sell, sell.
5. The IPO. Bring it to public. Sell shares to public stock market and become public company.

(source: Stever Robbins, 2008)

Entrepreneurial Secrets

Last couple months I’ve been dealing with assignment for innovation product and entrepreneurship. I’ve been lucky to be able to meet Michelle Matthews, founder of Shopping Secrets Pty Ltd – publisher of the Deck of Secrets-, and learn a lot from her.

Shopping Secrets Pty Ltd has rapidly evolved from a small Melbourne based startup business to an international success story. Michelle Matthews’s hard work as the founder has created another success in the history of Australian entrepreneur. Shopping Secrets Pty Ltd was chosen because of its nature and success within the market. The idea was established through very humble beginnings and through adversity.

The Deck of Secrets reveals fifty two attractions from around the city so people can enjoy one for every week of the year. Packaged in a funky urban style of guides, The Deck of Secrets offers Michelle a new way to make a living combining shopping, traveling and exploring. Today, the Deck of Secrets has become a part of high-end "experience" tours which promises guided adventures through hidden treasures that the city has to offer.

The best part is that Michelle also share her entrepreneurial secrets, as now I will share it will all of you.

1. Persistence
Persistence, persistence, persistence!
Michelle suggests that of all of her qualities, the key to her success has been her single mindedness and persistence. Large percentages of innovative businesses that fail are caused by the lack of persistency. As Michelle put it, “don’t be afraid to fail, but make sure you stick with it until you succeed, because you only fail if you give up”.

2. Willing to take risk
“Not to know everything was the key driver for me to start the business”. “Know little, but just do it” she added as she explained how daring to take risks can be one way to succeed. To belief in your product and yourself is vital to developing the persistence and attitude –having self confidence- that is needed to succeed.

3. Human Relation: Interpersonal Skills
One aspect of launching an entrepreneurial product into the marketplace is placing a faith in others to deliver on your vision and to assist you. Inter personal skills play a huge part in launching and running an entrepreneurial business.

With so many individuals from different cultures and background, it is important to develop strong relationships with each of these staffs and partners. Without these relationships it is very easy for the business to fail. Clear communication and strong leadership qualities all assist in developing these relationships and such attributes must be nurtured to give the entrepreneurial business every chance to succeed.

4. Positive attitude: Passion
Michelle also suggested that it is important to not only enjoy what you do, but also be inspired by it.

5. Creativity
Clearly, creativity is an essential attribute to have when it comes to identifying an opportunity and developing an entrepreneurial business, but it is also essential in order to continue to maintain a successful business. The modern business environment is extremely dynamic and continuously evolving. To maintain a competitive advantage, the entrepreneur needs to keep his/her eyes open for new opportunities to extend the life of the product or to introduce new products into the marketplace.

6. Involvement
To involve in every step from creation through to production and distribution. Even though she provides flexibility and space for her staff and encourages partners to work and to be creative, she feels necessary to communicate and guide them and make sure that everything works well.

7. Commitment
Through passion and persistency, she commits to the work. Those people who are passionate about what they do, are often more successful than those that are not.

(source: Entrepreneurial Management, Choo, 2006. Acknowledgment to Michelle Matthews)

I'm back...

Sorry all, I’ve been away for a while… lots of works and assignments to do.
Well… now I’m back on the track and i’ll pick up things that we left off.

warm regards,


Daisy

Mickey Forest

The topiary project was announced as the 50-acre “Mickey Forest" in the Feb. 20, 1992 edition of Disney’s cast member newsletter Eyes & Ears. According to the newsletter article, the 50,000 slash pine trees that make up the forest were planted by Disney. The planting was designed to be part of a much larger project to reforest areas where citrus groves had met their demise following the bitter cold snaps of the 1980s.



The article goes on to say that the addition of the topiaries “will provide wildlife habitat, replenish oxygen in the atmosphere, stabilize soil and provide straw for mulch.” This topiary, however, appears to be the only one that Disney ever completed.

Check the Google Earth: Central Florida landscape. Located 13.8 miles due west of Sand Lake Road. Click here for a Google Map link; GPS coordinates are 28°27'7.71"N, 81°42'11.18"W

(daisy, 2008)

How QR works

Click it to get bigger image

(taken from The Age Saturday, 5 July 2008)

QR sample of application: "Add me on your Facebook!"

Scan with your mobile and get connect to the world.


A new facebook application has just been launched called 'Add to friend shirt' which creates a shirt that gets people get in touch with your facebook persona via QR code. Cool, isn't it?!

You can also see the video on how this QR code works by clicking this link: http://2d-code.co.uk/qr-code-for-flickr/#comments

Amaze by this technology, i try to create one for myself... and below is my personal facebook QR code. You will be more than welcome to add me. see you on facebook!

Curious about this??? Don't worry... I will post the more details information on how you can create your own to this blog really soon! hang in there!

(daisy 2008)

Swipe and get connected

Mobile marketing seems to be on the radar of solution developers. The segment is increasingly witnessed innovative and unique concept being deployed to leverage on the potential. And coming with the trends another new concept has emerged with the implementation of quick response (QR) codes in mobile marketing. QR is a breakthrough technology for interactive marketing and a new ways to laverage aundiences' respond. The QR technology, which has been introduced in Japan since 2000, now has also been used in many media advertisement such as billboard, flayer, print ad, etc. People apparently can swipe their phone on top of it and it will have direct link to company's website (which theycanaccess via their mobile phone).

The QR codes are two-dimensional barcodes that form a bridge between printed material and the mobile internet. On a handset with a QR code reader they have prove to be a short cut to the internet sites. When a user takes a photo of a QR code with a camera phone, the user will be guided to branded content linked specifically to that code.

(taken from The Age, Saturday 14th June 2008)

(daisy 2008)

"Home sweet home!" says Disney

After movie, toys, amusement park, clothing, stationary, broadway and many many more, Disney hits Home interior industry. Working along with Drexel Heritage, both create Walt Disney Signature with series of product line, from furniture to home decor inspired by the living spaces of Walt Disney.

Walt Disney Signature by Drexel Heritage includes an integrated assortment of iconic case goods for the home. Beautiful finishes and detail were inspired by the quality and design of the 30’s and 40’s with contemporary, modern twists for today. Inspiration will initially be drawn from the art-moderne style. All inspired by furniture from Walt’s home and office




(daisy 2008. source: http://www.drexelheritage.com/spotlight/disney/waltdisney.asp. Thank Joanie for the info)

Mickey's head hits Asian Market

Here's a mp3 player from Korea.

it's small... it's cute... and it's disney!

Originally, Disney commissioned iRiver to make the player for their Hong Kong amusement park and for retail in South Korea. Though, they were hoping that Mickey might sneak into other regions.

This iRiver Mickey Mouse Mp3 Player comes with a 1GB capacity in pink, blue, white, silver and black color. The size is only 4 cm diameter, 3 cm height and as light as 17 gr. It is also running on rechargeable Lithium Polymer battery which supports continues playback up to 10 hours. As for the features, it was ingeniously integrated in the tech toy, so one ear is used as a volume control, while the other is used to change the tracks. The player assures up to 10 hours of continuous playback session, FM radio and FM recording, for the owners who want to record their favorite radio show for later listening.

However, i doubt that this product is going to impress the rest of the world's.

But, if you want to get it, it's only around AU$30 on EBay.
"well, I got one for myself..."

(daisy 2008)

Where my dreams come true

The genius artist: Annie Leibovitz has twisted the new Disney’s Year of a Million Dreams’ campaign into the most breathtaking ad has ever captured my attention. This campaign is featuring photography series of worlds’ public figures such as Scarlett Johansson, David Beckham, Jessica Biel, J.Lo, Beyonce and many more. These photographs re-ignite everyone’s love of fairy tales, myths, and fables.

Everyone has a dream… and everyone’s dream is coming true.

(daisy, 2o08 taken from source: http://thedisneyblog.com)

Unknown Drew Barrymore as Belle

Where Another World Is Just A Wish Away Julianne Moore as Ariel and Michael Phelps as the Merman

Where You’re Always The King Of The Court Roger Federer as King Arthur

Where A Whole New World Awaits Jennifer Lopez as Jasmine and Marc Anthony as Aladdin

Where Your Every Wish Is Our Command Whoopi Goldberg as the Genie

Where Dreams Run Free Jessica Biel as Pocahontas

Where The Magic Begins Julie Andrews as the Blue Fairy from Pinocchio and Abigail Breslin as Fira from Disney Fairies

Where You’re The Fairest Of Them All Rachel Weisz as Snow White

Where You Never Have To Grow Up Mikhail Baryshnikov as Peter Pan, Gisele Bundchen as Wendy and Tina Fey as Tinkerbell

Where Wonderland Is Your Destiny Beyonce as Alice, Lyle Lovett as the March Hare and Oliver Platt as the Mad Hatter

Where Imagination Saves The Day David Beckham as Prince Phillip from Sleeping Beauty

Where Every Cinderella Story Comes True Scarlett Johansson as Cinderella

-all images are copyrighted. Created by: Anne Leibovitz. Source: Disney 2008-

Cadbury Chocolate has its own Gorilla

Really cool tremendously creative and effective advertisement from Cadbury Chocolate. People appearantely can download this ad through cadbury website and remix it with any song they want. Youtube now has Phill Collins, Deep Purple, 50cent, Nirvana, Bon Jovi, Guns and Roses and many more versions of this... you will see how people 'get crazy' with the ad.

Check out my video bar on the right hand side of the page to taste some flavours of the cadbury's gorilla ads.

(daisy, 2008)

Consumerism vs. Ethical Issue (part2): The Tobacco Industry's Dilemma

One of the most frequently criticised industries in terms of ethicality is the tobacco industry, whereby its legitimacy depends on consumers’ addiction to a potentially harmful substance. Despite worldwide knowledge about the harmful health effects of smoking, the compulsive consumption behaviour overrides logic, motivation and the smoker’s social influencers to cease smoking. This leads smokers to counter cognitive dissonance by playing down the health risks, or finding a superficial benefit for smoking, such as an aid to losing weight (Festinger, 1957). Therefore, the external threats for tobacco companies that lead them to engage in consumerism and corporate social responsibility are not its users, but public policy makers and non-smokers. Non-smokers perceive the risks of smoking to be much higher than smokers, and are more likely take an Activist response in illegitimating tobacco companies than smokers in defending the industry. Children are also impressionable and prone to exploitation, therefore tobacco companies risk strong community backlash should any advertising appear to be targeting minors.

Beyond this, the true ethical values and acts of consumerism behind tobacco industries remain questionable. Tobacco companies hold their stance that they are offering consenting adults what they want (British American Tobacco, 2008), however, this is an inherent contradiction and is accused as a marketing ploy to exploit human vulnerabilities, particularly when the continued consumption of their products only lead to greater compulsive consumption behaviour which clearly has little to do with informed choices and a great deal to do with increased profits.

(daisy, taken from My Buyer Behaviour Report, 2008. Acknowledgement: Joanie)

Consumerism vs. Ethical Issue (part1)

Over time, consumers particularly in Western societies, change their consumption habits and perceptions as they progress along Maslow’s Hierarchy of Needs. Utilitarian needs are taken over by pursuit for upward mobility. In response to such changes, organizations have been accused to driving materialistic behavior and deceiving consumers, and resorting to unethical practices in their pursuit for greater profits at the expense of the environment, fair trade, animal welfare and so forth. Research find that as organizations adopt genuine ethical and consumer-centred business practices, and consumers in turn develop trust in organizations, there could be a positive outcome for both ends. An organization’s gain would be long-term competitive advantage and a sustainable business achieved through ethical integrity.

The two concepts are now widely adopted by organizations, particularly multinationals, tobacco and oil companies, and research has revealed that consumers, using aspirations as a basis of reference, favor organizations that engage in consumerism and ethics. However, further research into this topic also uncovered a number of issues against the affirmative argument, largely related to consumer attitudes, perceptions and motivations.

(daisy, taken from My Buyer Behaviour Report, 2008. Acknowledgement: Joanie)

Where's the business world going to go?

1. From only marketing department who does marketing to interdepartmental cooperation which every employees need to represent the brand or organization and do the marketing
2. From organization by product units to organizing by consumer segment
3. From making everything to buying more good and services from outside (outsource) due to increase cost and time efficiency
4. From using many suppliers to working with fewer suppliers in a “partnership” in order to increase company’s bargaining power
5. From relying on old market positions and compete in the existing market to uncovering new ones and create new market
6. From emphasizing tangible assets to emphasizing intangible assets such as brand, loyal consumer base, channel relationship, and intellectual capital
7. Form building brand through advertising to building brand through performance and integrate communication through doing dialogue with market rather than monologue
8. From focusing on profitable transaction to focusing on costumer lifetime value (costumer retention through relationship building)
9. From a focus on gaining market share to a focus on building costumer value (costumer satisfaction toward the brand and or product/service)
10. From being global to being glocal (Global brand with local face)
11. From focusing on the financial scorecard o focusing on marketing scorecard which lies on costumer satisfaction and brand equity and not sales result or company’s revenue
12. From focusing on shareholders to focusing on stakeholders which includes costumer, internal, referral, employees, and suppliers
13. From attracting costumer through stores and salespeople to making products available online
14. From selling to everyone to focus on serving a well defined and profitable target market by leveraging relationship and costumer intimacy

(daisy based on Kotler and Keller, 2005)

Advertising challenge

Question to ask before rolling out a campaign:
"How much we can push you until you say Too Much!!! ?"

A warn for every company and advertising agency to really understand your audience. Bombarding your target markets with your tremendously creative advertisement is not always about right. There is certain limitation that can drastically change one’s mind frame from being aware, interest and desirous to your product/brand/service to become ‘sick of it’. Put yourself in their shoes before roll out the campaign, or otherwise, you’ll spend your money making people hate you. (daisy)

The most breathtaking story ever filmed

The Earth Movie

on Earth Day 2008

-Thanks' Ghie for the info-

<www.loveearth.com/uk/film>

Are you a good leader?

A good leader: One who rediscovers the secrets to creating lasting value

5 critical element as a good Leader:

• Motivation. Has to be hungry to improvement and change
• Powerful insight. Provide powerful insight and open for feedbac
• Skill building. Ability on setting strategy, running effective meetings, communicating, listening, delivering, effective presentations, assessing operational risk and makin decision
• Real World Practice. Without practice, skill and knowledge fade out quickly
• Accountability for growth and change. Cultivates mindset of accountability

Tips:

• Limit the tenure of leaders
• Share power
• Don’t believe your own hype
• Get real and stay real
• Compensate for your weakness
• Stay balanced –work and life-
• Remember the mission
• Stay healthy
• Develop a personal support system –from family and friends-
• Be creative
• Know and control your appetites
• Be Reflective

(daisy, taken from: George, B (2007) “Authentic Leaders” Leadership Excellence, vol. 24, no. 9, pp 16-17)

Why companies fall behind

• Inability to see shifts in the marketplace
• Unwillingness to confront competitive initiatives that have “germs” of ideas that can be adopted
• Desire to protect today’s market definition and market share and not attack boundaries that provide expansion
• Increasing complexity costs, resulting in inflexibility and slow decision making
• Tendency toward internal conflict and organizational stratification
• Leadership that emphasizes capital investments as a solution to all problems
• Centralized control with limited coordination among divisions

(daisy, taken from: Boston Consulting Group, TreasureHunt, Silverstein,M. J. (2005))

Consumer trade down

“I’m a smart shopper.”
They are skillfull shoppers, taking advantage of every weapon and channel at their disposal: sales, coupons, everyday-low-price retailers, hard discounters and the web

"There’s no material difference.” “
They believe the difference in price of a few pennies, even a few dollars, does not always translate into genuine technical, functional or emotional differences. Why pay more?

“My Mom taught me.”
Many trading-down consumers, especially women, were taught frugality at their mother’s knee. They believe in being thrifty as a moral value

“I can go without.”
They do not believe in excessive consumption, and will prioritize purchases and buy certain items only when everything else has been paid for.

(daisy, taken from: Boston Consulting Group: TreasureHunt, by. Silverstein,M. J. (2005))