A Critcal History of an Entrepreneurial Venture

8/3/2019 A Critcal History of an Entrepreneurial Venture

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A Critical history of an

entrepreneurial venture

Ravinther Kunju Raman


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If we can sell our

experienceswe all will become

millionaires


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April 1992

August 1992

October 1993


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1st October 1993 - 4th June 2004


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Career Path

MT/JE/EAMM

AGM

GM

AD

ED

MD

93/94/95/96/97/98/99/00/01/02/03/04/05/06/07/08/09/10/11/12/13/14/15

555453

5251504948474645

444342

4140393837363534

Sales Management

Sales

Consultant

Sales

Counsellor

Own Business


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Overweight

(83.5kg)


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November 2003 Chen Du, China


10/37The World is my stage


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The idea and the resulting product/serviceoffering, the value proposition


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Human beings are capable of accomplishing much

more than initially imagined if they are provided withtrainings and special know-how. And if theseconditions are met, the person assigned will

exercised his or her abilities to the fullest if given the

chance

- K. Matsushita


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Sell our experiences


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Customer Sales Staff Your Competitor

Your Problem


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The Entrepreneur and the Team


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Why ASK?

Attitude-Skill-Knowledge Ann/Ailyn/Aslyn-Sherryann-K.Ravinther Ask-Seek-Knock


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Corporate InformationCompany name ASK EDUCATION & TRAINING SDN BHD

(636057-A)

Date of Incorporation 5th December 2003

Commenced businessoperations

19th March 2004

Board of Directors Sherry Ann Daniel

Catherine Lim Ah ShamRavinther Kunju Raman

Company Secretary Leong Li Ling

(MAICSA 7028548)

Auditors JK Huan & Co.

Chartered Accountants

Principle banker RHB Bank Berhad

Registered office Pusat Perdagangan Puchong Prima, Puchong,Selangor

Principle place of business A-7-6, Tiara Faber, Jalan Desa Utama, Taman

Desa, 58100 Kuala Lumpur


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Specific Characteristics

Lifestyle firm - set up primarily toundertake an activity that my wife and Ienjoy

Lean managementlive simple life, moretime with family & friends, work with like-minded people, constantly invest onourselves to upgrade competenciesthrough study and reproduce what welearn (prosumer)

Market influencefocus on Electric &Electronic Industry

IndustryIndependence - free fromoutside control in taking our principal

decisions. Personal influencein all decisionmaking. Wife make general decisions andI make major decisions

Close relationships with customers,investing our time rather than money.Many of our customers are our close

friends


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Principal Activity

The company is principally engaged inproviding training services and relatedbusiness

LecturingManagementCoursesTuitionMathematicsScienceStatistics

OrganizationsEffective Professional Selling SkillsEffective Telemarketing SkillsEffective Telephone StyleEffective Customer ServiceEffective Supervisory SkillsEffective Communication SkillsEffective Team Building & Motivation

Marketing PlanningHR Consultation

IndividualsCoachingCounseling

One-on-one Executive TrainerCareer Coach

Keynote SpeechesOrganizing SeminarsOrganizing EventsMaster of CeremoniesGame Show HostYouth ProgramsChildren CampsSchool CampsSpokespersonSeminars to promoteClientModerator

FacilitatorProfessional SpeakerSports Carnival


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Basic Management Objectives

Recognizing ourresponsibilities aseducationist, we will

devote ourselves to serveothers through Trainingand Development ofAttitude, Skills and

Knowledge, therebytouching and transforminglives positively World-wide.

Educationist

Training & Development

Attitude Skill Knowledge

Touching &Transforming

lives


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Basic Business Philosophy

Our Vision Serving everyone through Training and Development of Attitude, Skills and

Knowledge, thereby touching and transforming lives positively World-wide.

Our Mission Statement We will challenge our ability as educationist and commit ourselves to

research, customize and deliver effective training programs that will assistindividuals and organizations to achieve their goals.

Our Guiding Principles H - Humble O - Optimistic P - Passionate E - Ethical

Our Motto Personal happiness, creative fulfillment, professional success and freedom

from fear and a new promise of joy is for those who dare to ask. It is ourresponsibility as human being to ask others for help because anything ispossible if we DARE TO ASK.


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The

valueproposition

Why

should you chooseASK EDUCATION &TRAINING

as your training provider?

Imagineconsuming

attitude, skilland knowledgein a

CAPSULE!

CA

PS

UL

E

Cost-effectivenessWe deliver customized trainingsolutions at a strategic cost to matchyour requirements

Academic foundation We build our courses grounded inproven theories and based on research

Practical application We teach our participants to applylearning that brings long term personaland professional development

Strategic design& development

We design and develop trainingsolutions that match yourorganizations strategic goals and meetyour specific needs

Undivided attentionWe assign two or more people to yourtraining project from initial contact toresearch to course development toactual training. This gives us a very

tight control over the quality of ourtraining solutions

Learner centeredness

We put learners at the center of ourtraining solutions and strive to bringthe best out of them throughpromoting active participation. Weapply teaching methodology thatincreases the rate of retention and thetransfer of learning to the workplace.

Experienced trainers We provide experienced trainers whoknow the industry and are committedto apply the skill sets that they teach.


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Funding model

Own funding

Sold house to finance business

Paid-up capital of RM100,000


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The Business & Revenue Model ofthe venture, business strategy

Low-costleadership

Differentiation

Cost-based focusDifferentiationbased focus

TargetMarket

Industry-wide(Broad)

SpecificNiche orsegment(Narrow)

Defined by Cost Defined by DistinctivenessCompetitive Advantage


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Differentiation based focus

Aim at a specific and typically small niche

SME > Consumer Electronics

Specialize the firms activities in ways that other

broader-line firms cannot perform as well Affordable cost at superior value

Focus on repeat buyers ( we are knowledgeableabout the firms offering and less price sensitive)

Specialized distinctive competence research, customize and deliver effective training

programs


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SUPPORTA

CTIVITIES

Infrastructure(finance, accounting,legal affairs, informationsystems & payroll)

Acquire capital, perform accounting, legal and administrative

tasks for each activity

Human

Resource

Management

Treat employees as special team members ( working forthemselves) ; emphasize reward systems that promoteinnovation or quality

Technology

Development

Training tools, software and hardware support, e-learning;refinement of high quality delivery ; emphasis on excellence;world class quality

Procurement Selective purchasing from numerous sources

PRIMARYACTIVITIES

AnalyzeHigh emphasis tounderstandcustomer needs

Design &DevelopProprietaryprocesses; patentprotection; license

ImplementationExtra care in trainingdelivery

Reputation& referralstrategy

EvaluationHigh emphasis ontreating customer asspecial individuals;fast and courteousspecial services

InboundLogistics Operations OutboundLogistics Marketing/Sales Service

VALUE CHAIN ANALYSISCompetitive Advantage: Creating and Sustaining Superior Performance


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The Business & Revenue Model ofthe venture, business strategy

Direct

55%

Partner

45%


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Sme

88%

Corporate

12%

The Business & Revenue Model of

the venture, business strategy


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CE

45%

Others

55%




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Consultation

29%

Training

57%

Event management

14%




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Analysis: analyze the ventures developmentcycle and its current position by looking at

Initial condition at the time of founding theventure ( the industry, economy, the venture)

Major events during the ventures developmentand the actions taken by the entrepreneur.

Are there events in the ventures life cycle thathave influenced the ventures development?(events related to the entrepreneur, venture or tothe market)

Feedback loops and causal relationshipbetween the events and the decisions, actionstaken by the entrepreneur)


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Initial condition at the time offounding the venture

The IndustryIn Malaysia, the emphasis on thedevelopment of human capital wasrecorded in the Ninth Malaysian Plan2006-2010 where RM4.45 billion was spent

under the Eight Malaysian Plan andRM4.79 billion was allocated for training

The EconomySMEs are important engine of growth

Almost 99% of businesses in Malaysia

32% of GDP, provide jobs to 5.6million employees. The market for myservices is growing at anunprecedented rate.

In 2004 and 2005, year-end trainingbusiness increased 25% each year.

There were 600 training providers in

The VentureI plan to provide a completetraining and consultancy serviceCE industry.

I intend to upgrade CE staffcompetency and assist to bridgethe gap between principal anddealers

000 (RM) Ventures development & the actions taken based on feedback loops


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Working with Training partners

2003 2004 2005 2006 2007 2008 2009

50

100

150

200

250

300

-50

Incorporation5 Dec

CommenceBusiness19 Mac

46k

88k 96k

155k

205k

-29k -37k -38k

7k 21k

Legend

Sales Turnover

Profit

000 (RM)

Year

Sales and Profit Chartversus years in business

Joined team4 Jun

Acquire higher qualificationMaster of Instructional Technology

Master of Management

AdditionalConsultant

StrategicPartnershipAdvice

1

Advice3

Advice 1: Increase sales, control expenditures and start making profit

Advice 2: Build Strategic PartnershipAdvice 3: Pay Service Tax

Advice2

p p


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Rank Strategies Details

1 Referrals Request the referral

Repeat the request

Reward referrals

Reciprocate

2 Client relations Bond the client to myprofessional practiceemotionally (how I treat them)

3 Personal Selling Relationship Selling

4 Public Speaking Toastmasters, MalaysianInstitute of Management

5 Internet www.askravinther.com

6 Social/business networks Facebook, linkedn, Matrade

Marketing Strategies


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Reflections

Lesson learned: We can sell experience and make a living

We can earn relatively higher income by working for ourselvescompared to working for others

We can enjoy a greater balance in work-family life when we doour own business

We must observe our surroundings to find a need and filling it,thus we will be in business

We must respect business ecology and practice prudency,believe in value systems to co-exist and co-prosper

There is enough business to do; learn to share and do not begreedy.

Increase sales turnover, control expenses and make profit forcompany


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Reflections

New insights:

Do I want to grow my business?

Premises, staffing, number of training days

Expand beyond core > CE

Bring in outside investors

Strategic partnership - merger with other trainingproviders

Obtain SME financing


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DARE TO ASK

A Critcal History of an Entrepreneurial Venture

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