Tonys Deep-Success as an Entrepreneur - Essay Example

Tony deep-success of an entrepreneur Easier - An entrepreneur is someone who starts a business and is good at finding ways to make money42explore11. An entrepreneur is one who is capable of organizing a venture (small scale industry / Business/ Service) by undertaking risks and runs the establishment economically. The entrepreneur is a crucial factor in the socio-economic changes who envisages new opportunities, new techniques, new lines of production and coordinates various other activities Chapter-01: Introduction-case analysis Tony deep was a budding entrepreneur when he had ventured in business with a dream to dream big for his future. He was a normal paid worker who used to work day long to earn his livelihood. He, had a childhood goal to become a business man. Deep has been working part-time selling eggs and found the potential market for the food items. Deep has found the potential for food products being the basic need having constant demand. He sensed the opportunity and tried to cash on it. The option for selling eggs has worked out for him and he has succeeded in running the business. Deep was personally involved in selling and he has made up a clear idea of the potential of the business and gave an equally good response. Success of a business venture always depends on looking for new business avenues; really understand the problem and the market around it22. Tony deep with his strong zeal to earn money has proveked him to look for the best and innovative options. He first ventured into selling eggs and sustained then started looking into other possible options. Tony deep has started looking into new products which are ethnic and unique33. He with his strategies tried to make available the fresh products. For marketing and preserving these products he needs to know the right preservation techniques. He with his experience in canning has give an innovative idea up an idea for establishing warehouses store for food items and spices and selling them. He idea was to establish warehouses to store the products and market them around the region near the warehouse. Tony Deep has taken his brothers help in developing the business. He has opened several of them and tried selling products in and around the region. Chapter-02: Mission statement-vision To explore and create opportunities for better living can be termed as a mission statement. To provide fresh and safety ethnic food for the people by better reach. He build the dreams that he elevated as his mission as he allowed his family members to team up with him and build a strong source of organizing system. He never giving up and striving to excel made him to reach his goal i.e his dream t o earn and mark his identity. Tony has picked one mode to earn quick money by direct selling eggs. He himself has been in the market which made to know the best selling products and availability44. Tony deep has released that the products which he was planning to sell needs quick disposal, fresh to make the customer buy from him. Deep has concentrated on the south Asian population from where he has descended. He has created good knowledge of the basic requirements of Indian cuisine55 and availability in U.K. Thus he picked an area where he can explore. Indian has rice as their staple food like to eat spicy recipes. So Tony deep in order to gain from this lifestyle of ethnic Indians groups he started selling spices, basmati rice which is quite famous among Indians. He used to store them with all right technical bases to sell. Tony has established his business at important specific locations making available at the customers convenience. He has chosen the products which require good preservation techniques to keep the goodness of the products. He has adopted a new way to serve better by opening up ware houses. He has introduced new products which are rare for the British like the spices, basmati rice. These spices are to be bought from India or from other country. Before selling to the customer he needs to store in an appropriate place. He has build the warehouses at strategic locations where there is a potential for selling these products. Thus the customers are made to feel comfortable as the reach of the products are much close to them with the freshness. He has enhanced the monitoring of his business entities by making his brothers involve in the operations. Thus he made a bold move to monitor the organizing efforts with more sophistication. The most important factor is the customer satisfaction. A satisfied customer is an asset to an organisation as he always returns back to the company product now and then. Not only he makes repeat visits he spreads his word of mouth to others and provocate others to pursue the products from the company from where he had good experience. He being well experienced in tanning has provided him to maintain the right quality for the stored products. He as a warehouse organizer should place the applications for preserving perfectly to restore the freshness and uniqueness of the products. Basmati rice and other spices are more prone for spoiling by insecticides and other factors. An able maintaining will decrease the preserving losses and maintain high saleability of the goods. Thus the strategies will provide chance to market more number of products6. Chapter-03: Significance of Entrepreneur in society Entrepreneurs play a vital role in economic development. They make use of the factors of production to the fullest advantage of the society, create innovations, generate employment, improve the standard of living of the people, develop backward areas etc - all these will lead to higher rate of economic growth. Hence ED is very essential for economic development of a country. The myth (False notion) is that entrepreneurs are born and not made no longer holds good. Government and NGOs are conducting EDP training ranging from seven days to three months. The task of making entrepreneurs is by no means an easy job. Any programme striving to this end should be in tune with the existing government policies to encourage entrepreneurship. It is necessary to build up a favorable climate and get necessary help to secure financial and other infrastructural assistance. The key to success lies in providing all the inputs in an integrated manner with liberisation that is taking place. Entrepreneurship Development should be a National mission. Promotion of entrepreneurship among technically qualified persons is one of the major trust areas in industrial development. It has two objectives. 1. To achieve technology up-gradation and diversification into high-tech areas through induction of qualified persons into the fold of industrialization and 2. To inculculate the spirit of self employment in as many as educated persons as possible to reduce the pressure on Government and private jobs. If a self employed person works properly he will grow much faster and can plan for modernization and diversification. When he is successful in organizing one unit, he may plan to set up such units in other parts of the state under expansion programme. Thus he serves the society better than others, thus Tony was successful in organizing and expanding his business well. Self employment implies "creativity of job for one self by engaging in a gainful economic activity and utilizing one's creativity, skill or talent for earning livelihood". A self employed person is a master of his business, but self employment suits only to those who are painstaking and capable of exercising initiative for meeting challenges as they come. Self employment develops individuals and provides certain benefits to the society. It provides easy solution to the unemployment problems. A self employed person may offer jobs to others too. He is independent and controls his environment and his income is unlimited. The scope for self employment lies in industry, service and business. Chapter-04: External factors External environment has a great role to influence any business proportions. It is the innovative strategies which need to be enhanced to keep in tune with the external factors. A food sector basically concerns with the new trends in eating habits and new variants in food recipes. The main external factors would be the living standards, the inherent eating habits and cuisines they follow, the pricing, the competition, the current players, the economy, the volume of business in the sector. For a company to stand ahead of the competition it needs to concentrate on Customer analysis: Segments, motivations, unmet needs7: The customer is the final consumer and he has the right to choose from the option available. Entrepreneur has to look for the best features which may suit the customers' choice and need to place them before anybody does it. Thus Deep has succeeded in doing so by setting up of well maintained warehouses and serving the products fresh. Deep needs to be more consistent in the quality to build the brand image and generate the rapport in the market as a brand. He need to always look into new avenues where a drought of services is and should try to reach well before his competitor recognizes the business. The first person who introduces a product will be the first choice for the consumers. So, ever updating with new features and allied services would enhance the customer rating for the company's products and will keep the business afloat. Eventually East end foods became major importer of Indian spices and allied products to serve the Indian community. Reference: 1. Entrepreneur, 2000, available at http://www.42explore2.com/entrep.htm 2. Richard John Stapleton, 1985, the entrepreneur: concepts and cases on creativity in business, Lanham, university of America 3. Types of Entrepreneur, Ecademy, inside innovators http://www.ecademy.com/node.phpid=5774 4. Mark dollinger, Entrepreneurship strategies and resources, Pearson low priced edition 5. Roger Ballard, The Current Demographic Characteristics of the South Asian Presence in Britain: an analysis of the results of the 2001 Census, The growth of south Asian presence in UK from 1961-2001, available at http://www.art.man.ac.uk/CASAS/pdfpapers/sasians2001.pdf 6. Bruce Barringer, R.Ireland, Feb 2006,Value pack, Entrepreneurship, Successfully Launching New Ventures and One Key Course Compass 5.1. National statistics, Census 2001 - Ethnicity and religion in England and Wales http://www.statistics.gov.uk/census2001/profiles/commentaries/ethnicity.asp 7. Internal and external analysis, My strategic planning, 2005 http://mystrategicplan.com/strategic-planning-topics/internal-and-external-analysis.shtml 8. East ends foods official website, 2006 http://www.eastendfoods.co.uk/ourvision.htm Read More