A business without a solid business plan is like having a business with no foundation or proper direction or purpose. We believe that understanding our client's vision and goals, competitors and conducting intense market research is key to developing a successful business plan. Therefore, our focus will be to ensure you are satisfied with all aspects of your business plan so that you may believe in your direction and purpose.

Having developed skills and knowledge of how global frameworks and networks operate, we will offer an objective overview so that your business plan has the best chance of being implemented successfully in a competitive business environment.

This will facilitate in identifying the most profitable global customers, enhancing sales projects, and polishing your business model.

Illustrations have been in digital product design for a long time. Their evolution in the last years is very impressive. Illustrations as very popular design elements add natural feel and “human touch” to overall UX of our products. Illustrations are also very strong attention grabbers: at the top of that by applying motion to these illustrations we might bring our products to the life and make them stand out— adding extra details and personality.

• All the business plans are unique to every client.
• We work hand in hand with clients to understand the vision and goal and assist them in creating the entire business plan.
• In the unlikely event that you are not satisfied with the business plan. We will revise it until you are 100% satisfied.
• All our plans aren't based on assumptions. We conduct independent research on the competition and market to find alternative means of marketing your products and services.
• The final business model will be comprehensive and well refined.
• Our business plans are minimalistic. But in case you want a branded or artistic one, Popiwork can help you out.

We can create business plans in bilingual format (English and the translated version in Vietnamese, Burmese, Thai, Malaysia, and Chinese).

A business plan presentation or pitch deck is an incredible visual summary that tells a story about your business to your target partners, investors, or stakeholders. In addition, it provides an excellent overview of the business plan to see whether the project and or business is investor-worthy.

After working with various businesses, entrepreneurs, and investors, we are experts in creating a comprehensive framework to achieve your business plan in an easily understood and engaging format. Our design activities are conducted by a devoted design company, Popiwork Malaysia. In addition, they are specialists in graphical illustrations, concept-based presentations, animated slides, and PowerPoint presentations.

The team of experts will develop a reliable pitch deck presentation overseen by Elliott. The presentations will provide a synopsis of every aspect of the business plan. We will ensure to include the right balance, as having too much information about your business may overwhelm the potential investors. After presenting our initial pitch deck, it will draw in your investor to know more about your business. We will achieve this by using our unique insights involving some simple philological techniques.

We take pride in our team of expert creative designers. We follow a structure that enables us to capture the attention of investors and respond to any of their queries. We also know that not all investors are alike. Therefore, we will tailor the pitch deck to meet their needs by conducting thorough research into their business.

Entrust us with your pitch deck. We will be the difference between locking in a high earning client or struggling to get your business off the ground.

Entrepreneurs and startups need to conduct a comprehensive feasibility study on the venture or project they undertake. Simply put, if the feasibility study results will show business is not viable, then you won't have a business to run.

The feasibility study will ask the most critical questions of your business to determine whether it will be viable and potentially save you from committing time, resources, or money.

The analysis will uncover your business key objectives, analyze the competitors, required resources, potential point barriers, including looking at solutions and assess potential profits and losses.

We can provide this essential service to you.

Elliott comes with vast experience across many forms of businesses and domains, allowing us to offer our clients the best feasibility study. A reliable feasibility analysis involves:

Technological Feasibility

After conducting this feasibility test, you will know whether you will have the resources to meet the demands of your business. This analysis will look at technical requirements, such as software and hardware requirements.

Planning Feasibility

This study will assess an essential aspect of your business; it will analyze your business schedules to determine whether you can achieve your targets within the required time frames.

Budget and Financial Feasibility

This feasibility study will analyze whether your business or project will be profitable before you decide to invest time and resources in the project.

Lawful Feasibility study

Given that our founder, Elliott, has worked in multiple countries, including Australia, the US and Malaysia and Thailand, we will provide you with the best legal guidance to comply with local and international laws so that your business activities do not breach any regulations.

Further services offered under the feasibility analysis include:

• Actionable Roadmap
• Risks and Mitigation
• Business Model
• Industry Research
• Idea Consultation
• Market Analysis
• Business Process
• Competitor Research
• Opportunity Analysis
• Conduct and analyze survey results

Elliott will coach and mentor you to have the correct target and ensure he aligns it with your business to achieve the goals. He will conduct this formally and informally by providing the various levels of approach and access.

Coaching

Coaching aims to focus on specific skills and goals of your business to produce the best results at your business or project. The type of coaching received is significant, as it will more or less shape your business culture.

His unique coaching style will boost your performance, targeting the tasks that deliver the best outcomes for your business. He will ask you precise questions concerning your abilities and business to develop a specific goal. You will have the befit of having your coach provide you with the best knowledge and experience.

Your business will have a better chance of succeeding and will grow exponentially.

The coaching you receive will depend on the challenges at hand and your skills. After undergoing our coaching, you will have gained some new skills and ways to confront issues affecting your business.

Mentoring

When someone mentors you at work, typically, that person is more experienced and will guide and support your career path. Mentoring involves longer time frames to ensure the best outcome.

Elliott will work with you to ensure you develop the best strategy for your business or project. He will analyze your business plan, assess your current skills and experience to map out your road success.

Elliott aims to keep you focused on your goals and highlight your achievements. By the end of the periodic session, you will know how to make better decisions about your business that will either save you money or excel your profit margins.

Elliott focuses on creating long-lasting, trusting relationships with everyone. Therefore, he cherishes trust and integrity while providing business consultancy services. StrategistMY work with a highly skilled legal team that specializes in corporate law. We aim to support small and medium businesses, shield their corporate transactions, and advise them on legal matters, including advising on contract agreements, drafting legal letters, memorandum, legal agreements and contracts, and terms & conditions. We also draft agreements concerning the law of China if the need arises.

We provide solid and affordable legal support, and our fees are 30% to 50% lower fee than law firms with a turnaround time is 7-10 days.

Complex law and litigation are not our primary focus. However, you may wish to engage a lawyer to pursue matters further if need be.

Establishing a financial projection can pose serious challenges. Yet, it is a problem that most businesses and entrepreneurs face. MBAs with broad knowledge in accounting and finance also might struggle where to begin.

Elliot will provide all the solutions for you. We are equipped to help any business develop an appropriate financial model that fits your business.

We will help establish what is essential for your business by using our financial modeling procedure to make your business more manageable.

We will develop customized financial forecast models that suit every business depending on their situations. Our experience ensures that we do it the right way.

Our guiding principles include

• Developing simplified, comprehensive analysis makes it easier for you and your target audience to manage them.
• Creating the cause-and-effect interactions in that a change in one variable affects the other.

Features of the gold standard model

• Important ratios like revenue per employee for more accessible industry standards benchmarking
• Departmental operating expenses
• In-depth error checking to correct mistakes
• Color coding, documenting, and organization assumptions
• Monthly details accompanied by quarterly and annual summaries
• Cash flow statement, balance sheet, and income statement

Some factors affecting business valuation include invested capital, development stage, the company's industry. As a result, business valuations are performed for a wide variety of valuations. However, conducting this exercise has become quite demanding because of the existing valuation methods and jurisdictional rules.

Value Creation

Value creation is a process that follows many paths, depending on the company's life cycle and industry. Business valuation provides an in-depth understanding of how a firm comes up with concepts or ideas and uses invested capital to increase returns.

We know the process of value creation, which we always incorporate in valuation analysis in business restructuring, strategic planning, tax, financial reporting, litigation, dispute resolution, M&A, and tax.

Measuring Value

Business valuation offers different methods or approaches to facilitate efficient business analysis.

The most popular valuation approaches include income, market, and cost approaches. However, on most occasions, it is the market and income approaches that are used during business valuation.

Usually, the income approach puts into consideration the current value of upcoming cash flows. In comparison, the market method uses market multiples from comparable transactions or comparable companies to that of the company in question.

Our Help

We ensure your business gets to use the most appropriate valuation methods that meet your specific objectives and needs. The valuation report will give an extensive overview of the value drivers, economy, industry, assumptions, inputs, and company.

Our valuation report is reliable because we give our clients additional support, such as being expert witnesses during a trial.

Getting an optimized CV can be quite a baffling process. However, with Elliott, each resume is optimized to ensure you get the perfect match in the sector you are interested in. In addition, a role that you need to get exposure to will be identified.

Elliott will ask you a series of highly targeted questions to determine your strength. This helps produce a resume that shows your personality, qualification, and experiences.

An engaging and focused cover letter plays a very significant role in recruitment. It must showcase you as a professional employee to recruiters and employers. Therefore, our mandate is to help you develop a cover letter perfectly synchrony with your requirements.

Professional Cover Letter Writing Services

Cover letters provide an avenue through which you can introduce yourself to potential employers. It is very crucial for a job application. It is a resume introduction. It always has to be submitted together with the CV.

Elliott works with a team of highly skilled professionals who will help you create a magnificent Cover letter. This is through outlining your qualifications, availability, experiences, and skills.

Elliott has mastered the art of sales marketing. Over the years, we have built top brands from the ground up. We understand different lead generation methods, such as LinkedIn Sales Navigator Account, alongside other digital techniques that help generate data, which is later verified using Nymeria.

We provide you a comprehensive document bearing the lead/prospect name, contacts, phone number, and location. So you can eternally get ahead of the industry, landing high-earning customers who desire your services.

We offer the following services:

• Connecting you to almost 27 high potential customers on a platform of your choice every single day. This means you can easily reach 756 new potential clients monthly.
• Conduct an effective cold calling strategy to get new clients for your business. We will contact the potential customers directly through emails, Linked In, Instagram, and Facebook.
• Develop highly engaging customer written and graphical content to be posted on your social media.

These tremendous strategies above include social media management, Graphics Creation and Content creation, and Cold outreach.

By partnering with Popiwork, we will expedite your businesses to enhance your online presence by using our digital marketing solutions. Popiwork is an expert in different digital marketing tasks.

We have professionals in marketing who are willing and ready to assist clients to enhance their global audience to achieve business growth.

We assist small and medium businesses, entrepreneurs, and startups throughout the world with effective digital marketing solutions. We have a strategic framework in place that enhances customer conversion and brand awareness.

Our approach is a perfect mix of technology, marketing, and creativity. We offer digital marketing solutions such as search engine marketing, search engine optimization, online advertisement, video promotions, content marketing, email marketing, e-commerce analytics, website analytics, social media marketing, social media management, and social media creation.

All cases via StrategistMY will be monitored by Elliott.

We have partnered with Popiwork to support many businesses in advancing their online visibility by using the latest website technologies. Elliot will help you achieve that impactful online presence.

Our experienced web professionals assist clients to increase their customer base globally to spearhead exponential business growth.

Our responsibility is to reinforce entrepreneurs, startups, small and medium businesses worldwide with web design and development needs.

We employ a reliable project management framework for all our engagements. In addition, we integrate our internal formula with the latest technology to deliver the best outcome for you.

We offer a wide range of superb web designs and development services such as billing software, project management, Web-based ERP, Customer Relationship Management (CRM), eCommerce Solutions, UI/UX design, application development, web development, and web design.

Popiwork is swiftly becoming a leading visual communication, graphics design, web design, and development agency. It provides impactful and practical design solutions via graphics, animations, videos, and presentations.

Together with Strategist MY, businesses and startups get to enjoy extensive design services. We are your perfect partner in providing cohesive storyboarding, creative data visualization, professional delivery, and attractive designs.

We provide high-quality design services at a competitive price. We aim our services and design solutions at helping small businesses and startups to enhance their brands.

We have amazing creative designers, copywriters, artists, animators, and consultants dedicated to enhancing your brands.

我们与合作伙伴博必坊，使用最新网页科技来创造与支持各商业客户的网页，以提高在线上的知名度。Elliott会帮你呈现具有影响力的线上网页营业模式。

• 我们的网页专人会协助客户扩展海外客户群， 快速增长商业业务。
• 我们的使命是通过网页设计与开发，帮助初创企业与中小企业有效的推广到全球市场。
• 我们应用专业的管理程序处理专案项目。我们同时也将管理方案与最新科技结合，将其项目呈现出最好的效果。

我们提供包含全方位高效的网页设计和开发服务，例如收费软件、项目管理、ERP网式系统、客户管理系统 （CRM）、电子商务类型系统、UI/UX设计、应用程序开发服务、网页开发及网页设计。

博必坊正迅速发展成为在各服务领域如视觉传播、图形设计和网页设计与开发的领先营销公司。我们将提供具有影响力及实用的设计方案再通过精美设计图、动画、视频和演示稿而达到高效的传播目的。

博必坊与Strategist MY专业结合，能为生意和各行企业家享有高效的设计服务。我们将会是您的最佳生意伙伴，为您带来创意性的故事版图，可观性的创意数据，专业性的提交程序，和精美的设计。

我们会以合理的服务费用而提供高质量的设计服务。我们的目标是提供我们的专业服务和设计方案来帮助微小型企业提高他们的品牌价值与定位。

我们拥有一群能帮助您提高品牌价值的团队，其中包含多年经验的创意设计师、撰稿人、艺人、动画师和专业创意顾问。

博必坊的专业在于各线上营销服务领域，而我们通过与博必坊的合作，将通过高效的线上营销方案从而提倡您的品牌形象。

我们拥有多年经验的专业营销团队会积极为您的品牌推广到目标客户群众而达到目标业绩。

我们通过实用与高效的线上营销方案帮助全球各地的中小型企业。我们拥有一套专业策略结构，能有效的提高客户转化率和品牌意识。

我们的方案是结合了现代科技技术、专业营销和创意。我们所提供的线上营销方案，其中包括搜索引擎营销与优化技术、线上平面广告、视频广告营销、文案营销、邮件营销、电子商务分析、网页分析、社交媒体营销和自媒体管理与创造。

I am a proud Malaysian who grew up in Singapore. I have often heard the term “Malaysia Boleh” used by Singaporeans. Depending on the context, “Malaysia Boleh” can empower Malaysians, implying that Malaysians have the will and the spirit to achieve anything. However, I have learned that most Singaporeans use the term in a sarcastic, derogatory manner, implying that people can do what they like as long as they have money to bribe officials in Malaysia and Malaysians are not fussed about getting the job done correctly. I consider this term quite derogatory if implied this way.

When taking a closer look, on the surface, Singaporeans view Malaysians in this manner because there is evidence to illustrate these assumptions.

Take this “grandiose” event below. It was supported by the Malaysian government and had several sponsors and partners. The event served as a business network hub, connecting local and international businesses. With over 500 exhibitors, it’s a renowned event.

To advertise the event, I saw the following advert.

• “Are you wondering how would you explore new technologies, products, business trends, and new emerging markets during a lockdown?”
• “Are you thriving for business trainings”
• “Come and learn from our amazing coaches and trainers who will facilitate trainings daily”

When analysing this advert, they have been poorly written, which doesn’t portray Malaysians in a positive professional manner.

The below phrases contain some grammatical and syntax errors, despite the writer commenting that the advert has been written in “perfect English”.

In particular, the phrase:

“Are you wondering how would you explore new technologies, products, business trends, and new emerging markets during lockdown?”

Should read
“Are you wondering how to/ or how you can explore new technologies, products, business trends, and new emerging markets during lockdown?”

The phrase:

"Thriving for business trainings" contains the term "thrive", and “trainings”. The word “thrive”, which is another word for succeeding or flourishing has used in an incorrect context.

The purpose of the advert is to attract clients to meet their unfulfilled needs. The advert should read, “Are you looking for business training?” instead of saying, “are you succeeding or flourishing in business trainings”. “Trainings “should not be plural which applies to the other sentence “Come and learn from our amazing coaches and trainers who will facilitate trainings daily”.

Screenshot on 7th June

When conducting a simple google search for the event.

There are only five results on the google news tab, including an 8-day-old post (at the time of screenshot) with only five likes, one share, and one spam comment. Yes, a spam post unrelated to the event that had elements of fraudulent activity which had not been taken down.

My new business partner, whom I respect very much, felt that I was too direct when criticising the ad, which in my opinion, was a fair one.

He felt offended and embarrassed when I criticised the ad. I don’t believe he fully understood my point of view.

In my opinion, the grammatical errors have tarnished the brand. Further perpetuating the self fulfilling prophecy that in Malaysia, doing half the job is enough.

To make things worse, the ad has been allowed to continue to run on Facebook; they are paying for the ad only to be essentially scrutinised.

It's safe to say Malaysians are educated; however, considering this event has been promoted to an "international audience ", it doesn't paint Malaysians professionally. I can only imagine what foreign companies are thinking after reading this ad.

If only the organisers had paid more attention to the ad and were more diligent in organising the event. This classic relaxed approach by the organisers is the old "Malaysia Boleh" approach.

The relaxed approach is present in many everyday business operations and business decision-making in Malaysia. Many entrepreneurs take the "easy-going" approach to sales, administration, and planning. When it comes to business, one needs to be professional, organised, and succinct.

I mean, if you buy a 1300PM movie ticket and are late for the show, will you be able to negotiate with the theatre for a 1500PM entry? Complications arise when payments are considered. The complications would not arise if businesses and organisations had solid business plans and processes.

To further illustrate this point, if a party is being sued and has to appear in court on Tuesday, 8th June 2021, and needs legal representation in court on that day at 8 AM. They pay the legal fee and travel expenses via IBG on Friday 4th June 2021, 1830PM. However, the payment is not instantaneous, and if you make the payment on a Friday evening, it may arrive on "next business day", which will be Monday, which would have been fine… alas, 7th June 2021 was a public holiday! (Had an unpleasant experience which is why I am writing about it)

If a lawyer was engaged, they may think it's fraud and may refuse to appear in court.

+Interbank GIRO (IBG) is an electronic fund transfer payment system that allows for money transfers between participating financial institutions in Malaysia.
+Malaysian banks don't operate on the first and third Saturday of the month.

Business is about money. A delay in your payment to a vendor often means a delay in service or product delivery, translating into a disappointed client that your business relies on. If you don’t pay your employees on time, they may refuse to turn up for work; if they do, they may not deliver their best work and even report you to the authorities.

With the modern ages and the speedy development of the internet, it’s now easier to do business across the border. The informal approach has to change, and Malaysian entrepreneurs should delve into the nuances and conscious understanding of leadership, teams, motivation, transformation, and operation.

The time of change is now.

Every business began as an idea. However, a business plan is needed to provide a framework for actualising the idea. For entrepreneurs, when seeking one document they have to be armed with is a business plan. It reveals the strategies you intend to apply to grow your business.

The business plan confirms the services or products on offer, the expected sales, worthy competitors, and potential investors. Despite not being legally binding, having a great business plan goes a long way to making the business successful.

Contents of a business plan

Introduction: It shows the company's idea, how it was established, and its growth trajectory.

Team: The management team should include mentors, advisors, and the board.

Opportunity: This entails the startup's objectives, target customer base, and expected growth.

Solution: The strategy the business will use to achieve its targets.

Competition: A detailed assessment of opportunities, strengths, weakness, and potential threats, the current competitors and their investors.

Business Model: Ways through which the company is expected to generate profits and revenue.

Expectations: The required funding and non-monetary help like operational inputs and mentoring.

What Should Not Be Included In The Business Plan

Too much information: At the beginning, startups tend not to have enough data to create a comprehensive business plan. It is, therefore, better to keep it short and precise. Just noting down the essential points you intend to present to your investor is enough.

Exaggerating: Avoid putting too much hype into your business plan. Such kind of business plans will not please investors.

Overambitious goals: As an entrepreneur, avoid setting over-ambitious targets. Avoiding long-term milestones at least 18 months is sufficient.

Ignoring Competition: You have to note what your competitors are doing. Ignoring your competitor's activities will put you at a significant disadvantage. Write down your competitors and carry out some significant analysis, comparing them to your business.

Formatting Errors: The business plan should be free of calculations, grammar, or spelling errors. Avoid using acronyms and jargon. In short, the business plan should be not only very detailed but also unwieldy.

An entrepreneur should understand the initial expectations set while starting the business. These expectations should be communicated to investors. Projections need to be logical and based on reality.

Startups typically lack sufficient information to create an appropriate business plan. Revenues and pricing may be estimates since your product is undergoing development.

Include the following in your business plan:

Customer needs: The investors need to understand the customers you are targeting and the solutions you intend to address. Give a detailed overview of those assumptions using diagrams and pictorial representations.

Team Strengths: Reveal the number of people you require and the expected cost.

An overview of revenue and expenditure: Give a reliable estimate of what your business idea is expected to generate in terms of revenue. This will ensure the investors come up with an accurate valuation for your business.

Clarity: Defend the funding you need and how well you expect to spend, alongside the expected return on investment.

Details: Paying attention to detail is very important, especially when making presentations. Investors need to understand all that is in your business to determine its viability.

Great Formats For Business Plans

Mind Map: Entails pictorial presentations accompanied by branches that illustrate your business idea. The branches provide information on financials, market segments, and customers.

Mobile App: The business plan is embedded in digital applications, allowing viewers to select topics they are interested in.

Comic Strip: It entails using cartoons to relay specific information to make your business plan presentation exciting.

Animation Movie: You can use an animated movie to explain various components of your business.

Skit/Drama: The business idea can be presented through digital animation. Revealing problems and how best they can be resolved.

Tip
Most entrepreneurs fail to touch on the capabilities and expertise of their team during presentations. Yet, investors are always interested in knowing if the team is up to the task at hand.

There have been many new startups in recent years, especially in the wake of the Covid-19 pandemic. Many Malaysians have begun their very first business journey. However, having ambition is not enough. To succeed, you need to have a strategy and have critical insights to achieve business success. Succeeding in business includes minimising operating costs, achieving operational sustainability and making a profit in the shortest possible time.

Many Malaysians dive into the business world with rose-coloured glasses, thinking that they will achieve quick success within a short time. However, to operate a successful business in the real world, you need a solid business plan with a clear Pitch Deck.

As previously discussed, I have come across some businesses that do not have a well thought out business Pitch, asking for an MYR 2,000,000 investment. A recipe for disappointment.

There are several elements for a successful business.

1. Clear your mind

Clear your mind to have a clear vision of the business you intend to start. Get a pen and paper (yes, go old school!) and write a list of what you have done and need to do.

Clear your desk of unwanted clutter and unwanted computer files to reduce distractions and provide you with an optimum environment to succeed.

2. Think

Don’t rush into doing things. Take the time to understand what your strengths and weaknesses are. Visualise what you have achieved and can achieve with your capabilities. Also, think about potential stumbling blocks that may arise and how you may overcome them.

Once you have contemplated these thoughts, set a goal, devise a plan, and take action.

3. Change of environment

It may be more productive for your thought process if you change your environment, whether at work or at home, be inspired to think more strategically. Often, uninspiring environments produce uninspiring results.

4. Research and set SMART Goals

You can either dream or strategies to achieve your goals. Set SMART goals with achievable targets and milestones. SMART goals must be Specific, Measurable, Achievable, Relevant, and time-Based.

5. What do you really want?

Look at your SMART Goals and think it over. What is the reason for you to set that goal? The most common is to earn money, but what will you do with that extra money? Should you use it to go on a holiday or to invest that into your marketing effort for growth?

6. Taking the first step

After you set your SMART goal:

1. Make sure you know the when, where, and how to start.
2. Make sure you plan every step; small steps lead to significant actions.
3. Ensure that the first step is easy to take, so you start your first step on solid ground.

7. Manage your time

Despite having a wide choice of electronics to document everything, make sure you have a hard copy diary you can hold, see, and less likely distract you with social media.

Use the diary to manage your time, allocate time to work on your goal, and set a time in your diary to work on the next step. Make it a point to never put things off, especially when written.

8. Get a business coach and mentor

A business coach or mentor will hold you accountable, steer you in the right direction, get results, and help you achieve your business and personal goals. More often than not, the experienced business coach and mentor will make sure you stay on track to achieving your SMART goals.

9. Challenge yourself

It’s essential to stick to the SMART goals as close as possible to keep moving your business forward. Always contemplate whether the next step can be better or improved to achieve the same goal or better results. Be realistic and make sure you have a clear and achievable goal.

10. Achieve milestones and celebrate

Ensure you celebrate the success whenever you reach your milestone and are on the right track to achieve your goals. You’re on the right track!

Outlining Entrepreneur's Journey

The entrepreneur's journey is not a walk in the park. If you are an aspiring entrepreneur, be ready to encounter challenges and tough situations.

However, these are some elements that determine a successful entrepreneur.

Below are some structured strategies on how to approach entrepreneurship. Use this entrepreneurship game to understand what will be required of you.

Conceptualisation: Entrepreneurship begins as an idea. It is up to you to ensure you actualise the business idea you have planned in your mind.

First, note down your idea to keep reminding yourself about it. Then, ensure it conforms to the ever-changing operational and market parameters. As a result, entrepreneurs need to be flexible to adapt to the changing business environment quickly.

Analysis: A significant number of entrepreneurs are delusional and biased when setting out on their investment journey. Usually, they are biased in developing and implementing their ideas. Unfortunately, it has turned out to be the bane of many entrepreneurs. Therefore, before you invest in your business idea, you need to sit back, conduct a thorough analysis of your business idea, and generate effective implementation methods. This requires intensive research to understand the customer needs, existing competition, and offerings.

The data you get from your research will help you understand the essential requirements of entrepreneurship.

Strategy: Defining your business idea to support your first assumption According to Sun Tzu, every strategy needs to have great tactics to guarantee successful implementation. Planning a strategy involves understanding the idea and defining the most suitable ways of achieving the set targets and goals. The approach you choose to achieve your targets compounds your strategy. So first, note down your strategy and then develop a suitable way to implement it.

#PLANNING: THE IMPORTANCE OF A BUSINESS PLAN

Implementation: At this stage, your work should already be half done.

Here you will need to put together a reliable and experienced team to see your strategy or idea. Set a sufficient budget to take care of the implementation process. First, ensure you have set aside funds before seeking any financial aid or loan to launch a pilot product to gather feedback from your customer target. You should focus on achieving customer satisfaction, producing quality products, and enhancing your organisation's performance.

Once you have developed a great business plan and gained the needed funding, your business is now set to take off. You have all you need to get your business off the ground. However, it does not stop there. As an entrepreneur, you have to be very proactive. Set a basis for operational sustainability to ensure the successful implementation of your business idea. To have a successful business, there are critical functional areas you have to focus on as an entrepreneur. They include:

Team

Working as a team is very important to any business that wants to achieve growth within the shortest time possible. Ideas are shared among all the employees, thus providing divergent but significant views. The most effective ones can be chosen to drive the business forward.

Therefore, entrepreneurs ought to ensure they can keep their most skilled employees. Understand your employees, group, or team members. Get to know what they are going through in their everyday life when out of the workplace. Showing concern and helping them solve their issues can boost their morale, thus making them very productive while working.

Ensure you also share the ideas and goals you have set for the group, department, or company with your team members. Let them also understand risks and how best to handle them. Lest you forget, you still reserve the powers to correct and warn your team members or employees when they go against the set objectives.

Customer

Understating your customers ensures you can produce a product or service that satisfies your customers. This means you have to conduct customer research and get feedback from your customers regarding your products. From the information gathered, you can create your product to meet the needs of your customers. Doing so will not only attract more customers to your business, but will also influence customer loyalty.

However, for businesses with a significant loyal following, such as Apple, or deals in petroleum, whereby the brand comes with a limited influence, they produce goods and services they deem best for their target customers. Thus, they use the top-down approach.

Costs

Every business should be committed to keeping costs as low as possible. Put in place cost-effective strategies to ensure you can save that dollar. However, this does not mean that you deprive your business of funding. All you need to do is to minimise wastage and ensure there is a return on investments.

Never be afraid to take the risk to achieve your business idea. Then, if you face any challenges, you can always seek help from successful entrepreneurs that are readily accessible to you.

Businesses should be operationally profitable. They have to generate revenue which goes into making it sustainable. There has to be enough cash flow to pay the day-to-day expenses to keep the business afloat. Always be on standby by, on the lookout for changes in the market trends, and constantly review the business plan to remain operational regardless of the incoming changes.

As an entrepreneur, you can never afford to ignore the financial alarm bells. Generate enough revenue that can also be used in paying your bills. Regardless of the financial constraints, always be able to deal with unavoidable expenses. Don't risk your well-being for the sake of your business.

Whenever there is an economic slowdown or disruption, organisations put most of their attention on reducing costs. You will find them enforcing budget cuts, especially on the less critical business activities. Some activities likely to get less investment will be incentives, corporate investments, travel, and training.

Whenever there is an economic slowdown or disruption, organisations put most of their attention on reducing costs. You will find them enforcing budget cuts, especially on the less critical business activities. Some activities likely to get less investment will be incentives, corporate investments, travel, and training.

Here, you will understand the need for companies or businesses to invest in marketing even during economic disruptions continually.

Customers

When a crisis occurs that disrupts the economy, it is not the time for businesses to cut costs to the extent of forgetting their core purpose. Most businesses forget that they have to be proactive, especially when marketing their products and helping their customers during a crisis.

Your customers need to know your next course of action amid the economic disruption. They still have to trust you and remain loyal to your business.

One thing you need to keep doing is customer engagement. Find channels that can continually talk and share information with your customers regarding the products on offer. Some avenues you can use include emails, flyers, mailers, and presentations. Well-established organisations that enjoy a large customer base can utilise ATL platforms such as television and print media. But if you need a personalised and focused approach, then going digital is ideal.

Competitors

In uncertain times, businesses need to think about being more aggressive. They need to put in place a very proactive strategy that will allow them to remain competitive. In addition, conduct customer outreach campaigns to ensure you do not lose your customers.

Despite the need to cut costs, utilise the limited budget to invest in opportunities that guarantee the business's survival. Take up any niche that will generate additional revenue for the organisation. Invest in projects that will need less funding but attract customers.

Becoming a Leading Company

Even though markets undergo disruptions and even crash, they will almost certainly recover from their losses. Once the crisis subsides, government interventions are put in place to salvage the economy and guarantee its recovery.

At this point, your business should start generating some significant revenue. This is the case if, amid the disaster, you still kept engaging with your customers and remained proactive in the market.

You will have loyal customers who will keep buying from you, thus giving your business a competitive advantage when the economy returns to normal. So faced with an economic slowdown, it is no time to panic. Instead, the business needs to maintain customer engagement and get into less costly ventures that guarantee considerable profits.

In the Malaysian business scene, you stumble across the concept of "Malaysia Boleh", a unique Malaysian attitude of having a relaxed attitude to everything, including business, which I have previously referred to in my last article.

This Malaysian Boleh attitude troubles me because I often wonder how anyone can start a business without proper planning?

One of the most common business job adverts that I've seen is "Co-founder required", and I have heard many business owners comment how hard it is to find one.

Many of these requests come from start-up companies, clearly identifying that many startups have no business plans to grow the business.

It appears that the businesses are seeking people to join their business to get advice for either a small share of the "yet profitable" business.

Let's be honest. One has to question why these individuals applying for these "co-founder positions" don't have their own business. Why are these individuals seeking to extract a profit from another business other than their own?

Business owners need to ask themselves how much confidence can they have in an individual that may not be fully invested in the business?

I have seen several pitch decks prepared by Malaysians when vetting their Facebook business profile voluntarily.

The quality and professionalism displayed on their Facebook business pages are not great.

For example, a "Fintech business" had a 33-page Pitch Deck with 13 pages of one-word slides containing pictures known as "fillers".

The Pitch Deck did not showcase the business plan and financial projection that most serious investors look for in a business.

The poorly written Pitch Deck included many unfounded assumptions, did not include a marketing plan, and only targeted Gen Ys, which cut out many potential clients.

A proper business plan with an accompanying pitch deck allows the business the right to ask the client for an investment; unfortunately, this business did not have an adequate pitch deck or business plan, making the asking price of MYR 2,000,000 unachievable.

Consider a business without a proper business plan and a pitch deck- an un-investable idea.

Another issue that I have identified is that many of these startups or entrepreneurs don't have a budget plan. While totally understandable, if you don't have a marketing budget or enough money to stay afloat for a few months, you really shouldn't consider starting a business that requires your full-time devotion. It takes money to stimulate more capital. Without a marketing plan and budget in place, it will be challenging to achieve success.

We should encourage the spirit of entrepreneurship, and if you have a plan, by all means, go ahead but don't dive into the business scene without a solid business plan, and a Pitch Deck before speaking to an investor.

The number of entrepreneurs across the world is increasing at a very high rate. However, most entrepreneurs struggle with securing funding because they do not have a comprehensive business plan.

This is where we can help you. We are committed to helping entrepreneurs to create well-documented and structured business plans using our reliable but affordable consulting services.

We are known for offering high-quality business plans that businesses and entrepreneurs can use worldwide. In addition, companies can utilise our detailed framework to learn how to seek funding from investors. We use a globally accepted method; it works anywhere in the world.

Elliott Wang established Strategist MY to provide consulting services to small and medium businesses in the ASEAN region and Malaysia. The benefits are affordable to individuals and companies to easily acquire business plans geared to guarantee business growth.

Services Offered by Strategist MY

• Designing business plan reports
• Investor deck
• Financial projections
• Market research
• Project planning
• Business planning
• Startup consulting
• Web development
• Technology consulting
• Business transformation
• Strategy consulting
• Negotiating on behalf of businesses that need funding
• Assisting businesses in different phases of their development

The Business Should Meet Their Needs

Business ventures have their specific investors. Your business idea should be able to capture the attention of your potential investors. They have to be interested in your area of business.

As an entrepreneur, ensure you get the right investors. Consider factors such as scalability, associated risk, return on investment, and capital required. Use these components to determine the right investors for your business.

Before you submit your business proposal to an investor, ensure it's customised to meet their needs. Study your business plan, understand its associated profits and losses, and be prepared to respond to any sort of questions that potential investors will ask.

You can seek insight from a professional on creating a viable business plan and the best way to present it to your investors.

Below are some of the various funding sources you can take advantage of.

Bootstrapping: As an entrepreneur, you need to begin with limited resources accumulated from your savings, friends, and families. An investor has to see how effectively you utilised the limited resources to trust you with the funding you need. While pitching your idea to the investors, explain the risks to be expected and your strategy towards repaying the funds. Have an organic business approach that requires fewer expenses.

Govt Loans/ Grants: The government plans policies and provides loans or grants geared towards socio-economic development. Entrepreneurs can capitalise on this provision to gain funding for their businesses.

However, there is a catch. Your business plan should comply with all the set policy rules and regulations. Also, your business plan must explain how you intend to contribute towards socio-economic development.

Bank Loans: Entrepreneurs can gain funding for their businesses through bank loans. However, they will have to provide collateral or security to guarantee repayment of the loans. Failure to repay the loans can lead to the banks auctioning the provided collateral to retrieve their money. In your application for bank loans, you will need to provide a framework for handling loan repayment. Your business plan should effectively explain the strategies you have put into clearing the business loan with its accrued interest.

Angel Investors: Angel investors typically fund the business to gain ownership equity. On rare occasions, you will find them investing in a business as active partners. So, before you seek funds through angel investors, ensure you understand this funding source and plan your business plan to be in line with it.

Venture Capitalists: Source of funding that focuses on more significant investments. Your business has to show scalability. These investors also need to understand the expected equity. Therefore, they will need a good portfolio for your business. Ensure you have done enough research to find a venture capitalist firm aligned with your business plan. The business plan should accurately and compressively explain the expected scalability, and the required funding to achieve it.

Private Equity: Mature businesses can capitalise on private equities while seeking funding. Usually, PEs do not put their money into startups. Entrepreneurs seeking funding through this option will have to provide a detailed report of their financials in the business plans. The plan should also explain how they intend to achieve business growth.

Getting funding for your business can be a hard nut to crack. However, there is always a way. You just have to find a great approach to capture your potential investors' attention and have them invest in your business idea.

Why a business plan is not essential at the initial stages?

Startups that are currently in their early stages may not need business plans. They can use an executive summary to detail their thoughts with proper articulation. Write codes and market your business instead of writing business plans.

Tip:

Most business plans do not end up actualising the business idea since they are very biased.

Startup Funding: What Investors expect to find in a business plan:

It is important to note that a great business plan will not get you funding. Still, it simply enhances your chances of getting funding from investors.

Many factors are considered apart from a business plan when seeking funding. The business model, associated risks, and management team will also influence the investors' decision to give you funding. However, having dealt with many entrepreneurs in at the ASEAN region, it is fair enough to say that a well-organised business plan will give you an upper hand when in search of an investor. Therefore, investors have to use enough resources and time to create a comprehensive business plan.

However, every investor has specific preferences regarding the business plan format, depending on their specialisation or customer target sector. Despite that, there still is a recommended standard that every business plan should follow in terms of the essential features of the venture so that the investor can assess before making that step to fund your business.

So, what encompasses a well-prepared business plan? Below are some of the essential features of such a business plan.

Business Model: A well-documented business plan gives clarity to the revenue models and business models. The business plan has to give a detailed overview of the business model the company will use.

Products and Services: There has to be detailed information regarding the goods and services you want to offer to your customers in the business plan. You need to define your customer segment under this section.

Competitive Advantage: Your business needs to be solving a problem that separates it from the rest. It has to be unique to your business to ensure it stays ahead of its competitors. The competitive advantage can emanate from the quality of your products or your business niche.

Scalability: Investors want to know if your business has the potential to grow. They need to know the duration the business will take to move from one level to another. They will be happy to learn of the positive return on investment your business can fetch.

Research: A business plan should never be vague. Engage in intensive research to add more details to your business plan to attract your investors. The business plan should have information on competitor analysis and market research.

Strategy: It is evident that a business begins as an idea. The actualisation of the idea to give birth to a company will require a well-documented business plan. Such a plan provides a detailed guide on how the implementation of the business idea will take place. The strategies included in the business plan should offer a seamless implementation.

Realistic Financials: Some entrepreneurs are bound to have unrealistic assumptions. We can see this in the amount of funding they ask from investors. You must get rid of unrealistic expectations.

Most entrepreneurs prepare business plans intending to impress potential investors. This is where they go wrong. A business plan should showcase your idea and back it up through intensive research. We should not base it on beliefs and ridiculous suspicions. It has to be interesting to relay your business idea. With this in mind, entrepreneurs have to dedicate a significant amount of time to creating a business plan. If need be, they have to seek help from professionals to avoid making common mistakes most entrepreneurs are fond of, for instance, focusing on impressing the investors rather than making your case appropriately to boost your chances of receiving funding.

Investor: "Why should I trust you with my money?"

Many Malaysian entrepreneurs are always envious of successful startups at securing funding, whether it's for a Tech startup or a standard Startup. They hope to do the same.

I spoke to several startup founders who had prepared a simple pitch deck or a business model canvas. They don't realise that to be successful; they need to put a tremendous amount of time and energy into their business plan to win over the investor's trust.

My advice to those startup founders was to think like an investor and consider things from their point of view.

Typically, an investor will not invest:

1. In a project (or startup) that contains only 23 pages of pitch deck or business model canvas, that does not project how much revenue or profit that business will make.
2. If the investor does not trust the individual or if the investor does not understand how the business intends to succeed.
3. If the investor does not trust the individual or if the investor does not understand how the business intends to succeed.

So, when starting a business, consider that the number one reason you may fail in securing funding from a potential investor may come down to your poor or lack of a business plan.

It's empirical to explain to the investor what your business is about, the business strategy, and why you have such great potential. Therefore, a business plan is mandatory. Once you get it done, you can then condense the materials into a pitch deck.

The next step is to have a realistic financial projection. The investor will understand how their money will be utilised. Investors won't invest if you don't forecast to them the most common operating costs.

If you have an ongoing business, you will need to have agreements with your clients, employees, share register, shareholder agreements, supplier contracts and a well-kept business account book.

You need to showcase that you have properly thought out the business plan to instil confidence so the investor feels comfortable investing in your business.