Starting a business in Malaysia

Being an entrepreneur in Malaysia. With the recent challenging global market there have been many new entrepreneur and many whom are thinking of being one to join the many others whom have had a natural itch to become one.

The drivers? Recent retrenchment, threat of retrenchment, toughening situations in employment, the need to for opportunity to grow their income. Now the opportunities are many and varied as with anything.

Today you have app driven driving opportunities from ride sharing/hailing like uber, grab, to transporting of goods or packages like lori and kaodim. Personalised skills and more. See the list of apps below:

1. GoCar (gocar.my) – car rental/sharing.
2. Uber/Grab – ride sharing
3. The Lorry (thelorry.com) – rent lorry, van, 4×4
4. Serv (serv.my) – service your vehicle without going to the workshop
5. The Battery Shop (thebatteryshop.my) – delivers car batteries within an hour
6. Carput (carput.my) – petrol delivery, flat tyre change & towing services
7. Kfit (kfit.com) – book slots at gyms, spas, workout studios
8. Kaodim (kaodim.com) – find service providers
9. Bfab (bfab.my) – booking service for manicures, massages, hair removal service etc.
10. Supahands (supahands.com) – will connect you to businesses, data entry work, accounting work
11. PantangPlus (pantangplus.com) – for young urban mums who wants service while they’re on pantang
12. BookDoc (bookdoc.com) – connects you to healthcare professionals near you
13. Helpr (helprnow.com) – platform for personal shoppers
14. PasarTap (pasartap.com) – delivery service for market stuff. RM3 charge for same day delivery
15. Recommend (recommend.my) – on-demand home improvement site
16. PostoExpress (postoexpress.com) – despatch drivers who deliver within 3 hours
17. Zyllem (zyllem.com) – connects you to freelancers, local couriers & delivery drivers. 1 hour delivery.
18. GoGet (goget.my) – pick up, delivery stuff, ask them to shop for you, deliver food, helpers, odd jobs
19. AutoCraver (autocraver.com) – sell your car here and dealers will make a bid
20. Content (content.co) – connects you with content writers
21. Foodmatters (my.footmatters.me) – delivers healthy, home-cooked meals to your doorstep.
22. DahMakan (dahmakan.com) – similar to foodmatters
23. GiveReceipt (givereceipt.com) – generates officical digital receipts and emails them to customers
24. Parkeasy (parkeasy.co) – book parking bays at malls
25. Aiskosong (aiskosong.launchrock.com) – lists stores near you that offers student discounts
26. Gigfairy (gigfairy.com) – event management, book emcee, artists, bands for booking
27. Shoppr (shopprapp.com) – search for brands and it’ll direct you to online shopping sites
28. HonestBee (honestbee.my) – grocery, food and laundry delivery service
29. Speedrent (speedrent.com) – deal direct with owners, no agents
30. BigCast (bigcast.my) – marketing platform that connects you to advertisers
31. iPrice (iprice.my) – gathers products from other e-commerce sites to one single platform
32. CatchThatBus (catchthatbus.com) – buy bus tickets online
33. BeBonobo (bebonobo.com) – a website that lets you easily find things you need from your neighbors – for free.
34. MaidEasy (maideasy.com) – book a 2 or 4 hour slot for maids and they will deliver
35. WanderZoom (wanderzoom.co) – book a photographer for any event
36. FlexiStorage (flexistorage.com.my) – rent storage space
37. Skolafund (skolafund.com) -for underpriviliged students for tertiary education
38. Piktochart (piktochart.com) – offers templates for design
39. Foooqy (foooqy.com) – home-cooked dishes for delivery
40. Currenseek (currenseek.com) – book exchange rate and collect from money changers of your choosing
41. Kakitangan (kakitangan.com) – they handle HR matters for small companies.
42. Hostel Hunting (hostelhunting.com) – for students looking for hostels/room to rent near their campuses
43. Watch Over Me (watchovermeapp.com) – tracks your location and alerts people you choose during an emergency
44. Booku (booku.rent) – rent books
45. Petsodia (petsodia.com) – find hotels for your pets
46. Halal Navi (halal-navi.com) – finding halal restaurants near your location

You also have multi level marketing activities that you can get in to. You can have a look at the list below:

  1. Amway
  2. Cosway
  3. many more from whom have have been around a long while with traditional methods to the current internet and app forms.

Independent portals and online businesses for self selling or buying of products that are structured. The sample list is as below:

  1. www.stemtech.com/my/signup/SignupOptions (Id 5924517)
  2. http://smebold.com/
  3. www.mudah.my
  4. www.lelong.com.my
  5. www.amazon.com
  6. www.ebay.com
  7. www.11street.my/
  8. www.lazada.com.my/

You have also cryto currencies and currency trading activities that you could get involved with. Now as in anything big money normally equates into big risk. Nothing is more risky when they are not regulated or given approvals by the relevant governments and monetary controllers of the country that you reside in. The reason is that should there be fraud or mismanagement your ability to seek redress could and normally is assisted by these bodies. So do not fall for schemes that do not get the permits and accreditations from the regulatory bodies in your country. Do not get taken in that it is ok that it is accredited in another country line. The reason is very simple. Basic if its in another country the cost could be very high for you to seek redress on your losses if they are based on mismanagement or fraud. Very basic cost such as lawyers fees etc. The other is you may not have any legal right to redress solely from the fact that you may not be a citizen or recognised resident, or even the fact that the money that you had invested was not considered legally there in the first place from your part but may be legal from the operators part. Complex? These are not even the half of the possibilities when things go wrong. So don’t use short cuts when investing with your money.

Of course good old brick and mottar businesses are not dead. They have been evolving by distributed locations but not necessarily full build up. With the commuting skills etc some businesses have gone the working partner route for every role within its business. Right down to the receptionist. This method though may be costly in some ways generally seems to work out to be a model with better motivated deliveries as no deliveries or lack of quality the renumeration and rewards can be tuned appropriately. Also very easily moved to a new partner or operator and the overall delivery to customer can remain of the level the customer pays for. Yes even the cheapest equating to possible deliveries with less frills.

So if you are thinking of starting a business do remember even if your are virtual or online. Do register your business in the countries you operate in.

For Malaysia the link below is for the body responsible with one variation of business registration type.

http://www.ssm.com.my/ms/sole/starting-a-sole-proprietorship-partnership

From that if you have a physical space you work out from such as a office or shop lot then a business licence from your municipal council. In Malaysia an example of that would be as follows:

  1. http://www.mbpj.gov.my/ms/perniagaan/pelesenan
  2. http://www.dbkl.gov.my/index.php?option=com_content&view=article&id=74&Itemid=272&lang=ms

Of course there are many more municipal and city councils more. Just do a search for the area that you wish to operate in. Now note the following:

  1. SIgn boards need additional licences in some locations.
  2. Some locations signboards are mandatory requirement for running a business.
  3. Running a business from home in actuality does not exempt your from requiring a business licence. Though many do not have any. In some locations some businesses are exempted from needing a business licence especially the home operations according to specific categories or requirements. (could be annual income levels or the possibility of harm or need for regulating what you do.) Having said that running something from a home may get you into trouble without a licence due to a neighbor unhappy that you are operating out of your home and you cause an inconvenience to them due to storage, traffic and much more. So best get some regulation in place.

You may wish to operate from home but may wish to have a place of meeting up and being represented from besides your home as it may have people calling at all hours of the night or day which you want to limit. So you set up a physical commercial premise or even use one of the pop up or service providers that provide you from virtual services to physical services. We at KANSHARE SDN BHD do provide those services. Please look at our other segments of our website. http://kanshare.com/Products/ or http://kanshare.com/Solutions/ and even http://kanshare.com/Partners/.

Whether you make money or not you do need to declare the state of your income or lack of it as it may be. For Malaysia the taxation department link is as listed below:

http://www.hasil.gov.my/

However with the implementation of GST and prior to that there were some variation of taxes or taxation in the line of doing business. Their link is as follows:

http://www.customs.gov.my/en

As you work especially if you are in a more mobile industry, getting hurt may be unavoidable. If you have been an employee you would have been already contributing to this fund and as such able to claim from it. So to retain the possibility to claim you could also continue to contribute to them.

https://www.iperkeso.my/

Of course there are private solutions also available such as medical cards and insurance policies. Note some of these can be tax deductions.

Of course when preparing your financial records and business interaction records you may require legal services (lawyers), accounting and book keeping services (accountants with supplimentary accounting software which you can own), Auditing services (auditors) and company secretaries (company secretary)

As you worry about your old age, you may wish to continue to save in these various funds. Some of which are mandatory.

http://www.kwsp.gov.my/portal/ms/web/kwsp/home

http://www.kwap.gov.my/en

Mutual Funds like

http://www.publicmutual.com.my/

http://www.asnb.com.my/v3_/asnbv2_0index.php

Now with all the above there are many more services or skills you will need to learn or hire.

That is why rather than owning the cost of setup and operation, save where you can.

Cost of renovation and such is one major cost (the amount spent here could give you months to years of operation in a serviced office such as KANSHARE SDN BHD. Need an office or an option of having a space that shows you are serious and committed into business (really helps in keeping you disciplined, increasing the view of your customers towards you and tender evaluation especially for government opportunities. But not necessarily grand requirements.) Use virtual premises and such. KANSHARE SDN BHD uses the close to home concept (There are many concepts available when choosing serviced offices/business centres/share space/coworking space. There is classy, regional, free spirited and many more) and always encourages new operators whom would like to follow. We provide solution assistance to setup and also willing to operate for you or let you take over our location while we start new locations. (Why take over? Cos the initial build up period and learning relevant to your area is reduced. All you need to do is operate which is service and retain your existing customers and grow more customers with more marketing.

Interested email us at enquiries@kanshare.com)

Interested in having a coffee session to get a feel of what you may be getting into buy into the entreprenuer mentor session from KANSHARE SDN BHD. Want to know more? That’s right email us at enquiries@kanshare.com. Buy some hours or sessions from us.

Custom sessions based on your specific topics also available beyond the regular free style topics.

Creating business addresses for your Serviced Office

Earlier on we have written an article on business addresses in general. We further this with the creation of a business address in your environment. Now in the traditional environment you had one whole business which contained a self served organisation with staff to produce delivery to their customer. This would have been contained in one lot with the minimum being a single floor of a premise or at worst a substantial portion of the premise if the organisation was really small.

In that situation the business address would have been easy. Just follow the standard of addresses as created by the postal service relevant to your area. Some examples are as contained in these links.

  1. Wikipedia – https://en.wikipedia.org/wiki/Address_(geography)
  2. Universal Postal Union -http://www.upu.int/uploads/tx_sbdownloader/descriptionPostcodesGuideToTheHeadingsUsedInThisChapterEn.pdf
  3. United States Postal Standards – http://pe.usps.gov/text/pub28/28c2_002.htm
  4. A general Google listing of various standards – https://www.google.com/webhp?sourceid=chrome-instant&rlz=1C1MSNA_enMY660MY660&ion=1&espv=2&ie=UTF-8#q=international%20postal%20address%20standards

So an example relevant to Malaysia would be as follows: –

Salutation and Name of recipient: 

Position and department (Optional):

Company Name: 

Unit/Lot Number, Level/Floor, Building Name, Commercial Area:

Street name:

Post Code and District/Town:

State:

Country:

Now in a serviced office that information could be handled in a general manner utilising the standard postal address. And in some cases is the only way, else the items (letter, courier document, parcel etc) may be rejected as the addressing is not to standard or recognisable if modified.

But where possible, the unique identifier addition for those in hosted premises or serviced premises (Semi, full or none) in the case of serviced offices can be applied at between line 3 and line 4.

Salutation and Name of recipient: 

Position and department (Optional):

Company Name: 

<Insert serviced Office identifier for relevant customer>

Unit/Lot Number, Level/Floor, Building Name, Commercial Area:

Street name:

Post Code and District/Town:

State:

Country:

What kind of identifiers could we use? Well the most regular would be suite A1-01 or some such assignment would be relevant. There are other options as specific names like Azure, Diamond, Room 1, Office unit 01 and many more variations from simple to exotic. 

So an example could look like this: –

Mr/Mrs/Ms. Ageless Entreprenuer

Director

Entreprenuer Sdn Bhd 

Almond Suite

3-12 Dataran Pelangi Utama,

Jalan Masjid,

47400 Petaling Jaya,

Selangor Darul Ehsan

Malaysia

Of course if the location is small that the hosting is conducted in, the only reason that you would include the additional address line could be considered pretentious in todays setting. Especially when you do not need the organising of which location that mail belongs to. And without that additional address line it could enhance your customers prestige of being in an more friendly environment.

So do some research and some thought on how you wish to handle the business address offered or to be offered. Though not everyone is too impressed by big addresses nowadays, even with the more accepting nature of all in general,  a little thought to how it will be used in a practical way is necessary for all parties utilising the address.

Look out for our next article, “Methods of listing Business Addresses in your Service Office environment”

Guarantee, warranty and support

There are many items that we do in our day to day life. No matter how capable you may be there are some things that are beyond your control. Primarily the items require manufacturer assistance due to information or knowledge they do not share. Next would be natural need for assistance due to not having acquired the skills or knowledge to solve your need. Last and not least would be the need for assistance due to many reasons from lack of time to better use of your time.

What ever your need or reason it is important to understand the kind of assistance you need and is offered.

Normally support is for a solution or a product and rarely purely based on a service that you acquired. Reason being that a service rendered could also be rectified within the service parameters or conditions when the service is being rendered. Hence a lower need for support on service related products. Examples would be cleaning, security, cooking etc.  Reason being these services would be consumed, which means finished almost as soon as it is created for use if not soon after. Hence time and planning is necessary for this.

So we move on to the next area when support is required which is the product or solution (a complex or more intricate series of products and services that will provide a solution to a need or task.). For this area you would have two major sections. First would be a warranty or guarantee which is quite often used in many ways to mean many things.

But simply from google translation which is a general indicative reflection of the meaning of some words: –


Guarantee

guar·an·tee
ˌɡerənˈtē/
noun
  1. 1.
    a formal promise or assurance (typically in writing) that certain conditions will be fulfilled, especially that a product will be repaired or replaced if not of a specified quality and durability.
    “we offer a 10-year guarantee against rusting”
    synonyms: warranty More

  2. 2.
    LAW
    a formal pledge to pay another person’s debt or to perform another person’s obligation in the case of default.
    synonyms: collateral, security, surety, a guaranty, earnest

    “banks usually demand a guarantee for loans”
verb
  1. 1.
    provide a formal assurance or promise, especially that certain conditions shall be fulfilled relating to a product, service, or transaction.
    “the con artist guarantees that the dirt pile will yield at least 20 ounces of gold”
    Warranty
    war·ran·ty
    ˈwôrən(t)ē,ˈwärən(t)ē/
    noun
    1. a written guarantee, issued to the purchaser of an article by its manufacturer, promising to repair or replace it if necessary within a specified period of time.
      “the car comes with a three-year warranty”
      synonyms: guarantee, assurance, promise, covenant, commitment, agreement

      “a three-year warranty”
      • (in contract law) a promise that something in furtherance of the contract is guaranteed by one of the contractors, especially the seller’s promise that the thing being sold is as promised or represented.
      • (in an insurance contract) an engagement by the insured party that certain statements are true or that certain conditions shall be fulfilled, the breach of it invalidating the policy.

      Now key to the above are that there will be limits to how the activities to make good is covered, when and where. There may also be no time that they will commit to completing.

      So now most persons or organisations will then go for the next item which is support. Now though support can be superior to a guarantee or a warranty they most often mistaken as the same delivery, however they are actually two different products of fixing problems. One is for making good on product or solution that has a lifespan before it fails, the other is to prolong the lifespan of the product through repair or education for an indefinite period. (Support generally is for a service or solution that fixes problems. Be it learning assistance to a fault that occurs with a product or solution.)

      So though some companies may provide a hybrid of the products thus creating confusion on the part of the consumer or user, they are actually many variations of product delivery.

      Now on the support portion after guarantees or warranties you could secure during that guarantee or warranty an additional series of commitments to provide assistance in a number of areas. They can be to fix a problem that occurs due to failure, adjust to maintain the product for the duration of use, improve or modify for your specific use, provide replacements and parts to maintain availability and also education. Things like design and redesign should be taken outside your normal routine activity. This will provide you the optimal delivery of support as the estimated cost to deliver will not balloon out of scale and then your provider will not cut corners to be able to continue to deliver the support.

      The fact is everything costs, even if you do it your self. It just varies if it is done with less down time or damage to reach a remedied working product.

      With that, it brings us to the other important item that organisations, people and companies secure a support solution. Time. This is very important to many and less important to few. For a product that many people rely on or is part of a chain of activities within a delivery, failure or down time can have serious losses just in terms of people sitting around. (work out the hourly cost per person and item left idle during time product or solution has failed.) Hence you can also secure a time component in support solution. Which means response, solving and completion can be measured to keep timelines in a delivery. Note without a contracted period in a contract defining relevant activities for the progress of the completion support vendors may employ affordability models of delivery of the support. This can include the number of cases the skill can handle within a certain period, spread of the jobs over the skills available period rather than immediate attention and many more such variations to provide optimum use of all elements to deliver support.

      The end of the day the vendors idea is to use his man power, tools and skill for every working hour of the day so as the spread is even as such the price will be a small incremental of that cost he has to incur with a reasonable profit for himself with little risk.

      So when your need is unplanned and his availability has to be as immediate as possible, they will apply history measurements where available in the same area, else a similar area and add some assumptions to that, plus a profit for the business. So the wilder and random the need with shorter timelines the high the cost for the vendor hence high the price for the customer. This however is more simplistic than the actual situation is. We will get more indepth in our other article titled “The cost of support.”

Business Ideas…. Shared Facilities Business

The Shared Facilities Business is an old business. It arises from the fact that persons needing the facility do not always necessarily need the entire facility, have the knowledge to outfit and prepare the facility or have the large sum of money upfront to put up the facility.

This is where comes the Shared Facilities Business. The first version of Shared Facilities were boarding houses and hotels. They were started mainly for the traveller or out of town worker whom had yet to get their own home or need one so permanent due to their temporary nature. As prices of things or scale of facilities grew, hence came the providers of more variants to Shared Facilities.

Below are a list that may not be comprehensive nor segregated accurately but you will get the idea. Maybe you could also suggest a few more.

  1. Shared Residences. This is the segment where boarding houses, rented rooms, motels, hotels, guest houses, shared houses, serviced apartments and more. This caters to the temporary to more long term segments. A losely associated element could be rented houses and apartments. Basically any facility for the purpose of living.
  2. Shared Offices. This is the segment where business persons may setup temporary to permanent operations for their first business location to a regional representation of their business. In this segment you would have the serviced and bare rental segment. It is interesting to note that the virtual office is also hosted in environments like this. Shared Serviced Office Business has been growing rapidly around the world. Here in Malaysia it has grown very rapidly over the last few years. The style and options are very wide. From the neighbour hood provider till the prestigiously located address provider right up to the regional and international provider.
  3. Shared Retail Locations. This segment is where retail space located in shop houses or lots till malls are rented from bare to fully prepared. This would include stalls and kiosks.
  4. Shared Meeting facilities. meeting rooms, conference rooms, seminar rooms,
  5. Shared Storage. This segment has the traditional warehousing all the way to the newer self storage facilities. The different segments provide differences in sizes, availability right down to supporting service solutions.
  6. Shared Exercise facilities. Gyms, team building locations and more.
  7. Shared Education facilities. Tuition Centres, training centres,
  8. Shared Medical facilities. Hospitals today provide facilities, tools and administration support to attending medical specialist in return for a share of the returns of a charge for facilities used. Private sector medicine is growing with this model in leaps and bounds.

 

Note that the Business Ideas segment is to give ideas and is just to encourage people whom are looking to start a business. Be it for additional income, just looking for change or opportunity. Information provided is just on a level of concepts generally, some level of detail may be provided as example only. It is best should an individual or group of individuals wishing to use the idea to do through research prior to implementing the ideas. Most of the ideas require adaptation and also further detailing to be even ready for deployment. Take it as a seed. The writers and the host platform is not responsible for any results arising from the use of any ideas that have been made available free of charge in seed form.

 

 

Market for improved premise for training and education of all kinds

There are so many empty unimproved premises for an entrepreneur to rent for improving relevant(renovate and outfit) to their business needs. This however limits the chance to be an industry specific skill based entrepreneur to the very brave or the deep pocketed. In the current times this limits the qualified candidates to the property investor. This however does not eliminate the possibility for the freelancer of the skill worker/entrepreneur, as those in the industry of their choice will also find many contracted arrangements for consultants in exercise studios, music studios, dance, tuition and many skill based businesses. Even hospitals have this arrangement available to their doctors and call them consultants.

Today there are newer options where facilities prepared by the industry offering their access capacity to other skill owners for a percentage or an out right rental for the use of the improved facilities. For most it is run by entrepreneurs that they themselves have the skills but require access to more for variety or sustainability with profitability. (not necessarily so that both sustainability will be profitable nor profitability will be sustainable.) or persons whom have been in the supporting element of the industry in question.

However today there is an element for even property owners to differentiate themselves and prepare their facilities for those kinds of businesses to be rented out in whole, or to involve themselves in the business to sell capacity and facilities. This model though more taxing to the investor has an increased level for the investor to ensure that their property will be maintained. Reason is that they will retain access to the premise and facilities, thereby enabling quick remedial action when failure occurs.

Risk is that if you choose the wrong industry to serve for your location or do not prepare in the manner that is preferred then your investment may go to waste. A safer way to it? Try to engage with an existing operator in that industry to be your tenant and renovate according to their needs then up value pricing accordingly. Else go into a partnership with an existing operator in that industry.

The evolving role of the Service Office Provider.

The role of the Serviced Office provider has evolved from the initial version of providers. They were primarily landlords or building owners whom had agreed to cater to large MNC (Multi National Corporations) that had financial strategies and business strategies that ranged from lowering their initial investment, especially in countries that were very volatile. Another would be that they could exit quickly without too heavy losses.

The initial versions were catered for single company occupancy. The focus then was reducing complexity for the tenant with compensation that was higher. The initial model was very lucrative for the owners with some contracts being that they were paid up front for the entire tenancy. Hence they then could reinvest for another property.

As time went along more smaller companies sent representatives out and the need for a shared version of this facility arose. Hotels initially were the hosts for these outfits that were either smaller or temporary in nature. The hotels provided a mixed residence and business centre facility for them. But as the numbers arose and the hotels rates for services raised alternative operators. These version were very staid and rigid. A lots of structure was adhered to just as in a normal office. In a sense they were very classy in their delivery.

As economies exploded in a positive way, more people ventured into business. As such the demand for office space grew. But not everyone had the expertise to build and run one. This opened up the market for more enterprising entrepreneurs whom then built and ran it as a business.

Today serviced offices have evolved to incubators, entrepreneur encouragement/development centers and more. The flavor of operator basically is in two forms, corporations (Big and also smaller ones) and owner operators. The theme these various operator have been described a little bit in an earlier post that we did. But one very useful delivery these new breed of operators bring is their skills from their earlier working life. That is processes, contacts, mentoring and idea building/developments, introduction to funding with much more over and above just space, service and technology.

This is another element that could go into your evaluation of your choice of Serviced Office operator for your business.

One point to note is that not all of these operators own their premise anymore, but the demand is such that even with rented premise, they are operating this business. One of their current revenue streams are providing consultancy to property investors to convert their premise for providing their tenants with full service premise. Property investors are beginning to realise the competition for tenants in the unimproved property rental market is currently soft. Due to the high demand of rental rates, deposits, difficult owners and business environment that is challenging for the potential tenants whom need to keep a higher fluid cash flow level. Those whom have excess would be investing into the property for their own business use and more.

Going the Serviced Office way, deposits are lower (less months required), termination, resizing is more flexible with shorter duration of notice and more business support is available for purchase by the business owner.

Shared Serviced Office Providers

The Serviced Office is a business where there many models available today for the budding till experienced entrepreneur. The range of solutions also vary. More on this is elaborated in one of our earlier articles on Serviced Office Products and Solutions.

Though it may appear that cost is the focus of most of the customers, a greater number of the customers go for convenience. As more business persons will find out as they operate, an office has unnecessary complexities involved that will eat valuable time that can be spent on building their business.

The following are some of the models available for the business man to choose from.

You have the International and regional providers, whom have presence at the most populated countries and cities till the more remote but booming locations. They normally cater for the multi national players or outfits that conduct business internationally. The local business man may use their facilities due to the prestige of having a well known provider host them. Plus the assumption of the latest support methods, tools and solutions. But flexibility is not one of their strong suites.

Next, you have the in country Prestigious Address providers. For example in Malaysia you have a number of locations that are desired for their address or presumed better clientele. These locations range from KLCC, KL Central, Bangsar, Anything Hartamas from Desa to Sri Hartamas, Damansara, PutraJaya, Cyberjaya and many more.

Medium tier providers, whom deal in very structure and established models of delivery and presentation of premises. They may not necessarily have the latest in technologies or delivery methods but they normally are well structured. Most of these providers fall into this category from the aspect of capacity capabilities and locations variety.

Custom providers give you the length and breath of scope according to your needs. Most of them do however require a higher commitment from you in terms of length of contract and value that you are willing to part to have things more to your needs.

Economy providers. These providers deal with scale and the cheapest ways to deliver the service to you. It may also have less frequent refurbishment periods of the premise and the facilities. But they are normally functional and very price conscious.

Limited Service providers. These are normally business address and mailbox service. They possibly have a general meeting room for the odd meeting. However they are very concentrated at delivering the service that they concentrate on with the zest that is very commendable. Very good value for your choice.

The neighbour hood providers. They normally can vary in terms of scale and service style much like the middle tier and custom providers, mainly as they tend to serve the community surrounding them where smaller business owners prefer to have operations not too far away from their home for a variety of reasons. They could be to be more efficient in their usage of time by saving on travel time and cost associated, avoidance of daily traffic jams which is very similar to the early reason, they are family oriented business persons whom may wish to have easy access to providing a balance of support to their family as well as good service to their customers, some just like the friendlier service possibilities. Interesting to note, this category still attracts the out of town and also international business person.

All the varieties of providers, cater to many themes. From the strict no nonsense organisation behavior to the more casual artistic or functional office form. The many and varied themes are a sign of the times where variety of styles of operations with the manner of conducting business has been open wider due to the globalisation and many oppurtunities that drive businesses today. What ever the theme and consideration you may find suitable to your desired customer perception of your organisation, there always is one format available to you.

Else create one that suits you and get help filling up the extra capacity of your theme by teaming up with a Serviced Office operator.

There is always another way to keep your cost down or even help in office management. Explore the possibilities.

Business Ideas…. training and hobby facilities

There are many hosting businesses. The newest would be the expansion to heavier hobby facilities and tools with access to skilled instructors. (not necessarily certified but could be craftsmen with years of experience)

Now there are many hobbyist with no place to practice their hobby in todays environment where most persons live in multi tenanted dwellings or even rather small somewhat exclusive lateral dwellings.

So as such arises the need for space to just be able to work on that project, be able to leave in some what a ready to continue state till the next opportunity arises. Another good match is to provide tools on a lease or rent basis. Consumables such as fuses, blades etc can be bought on a need basis but the base tool could be rented to the hobbyist.

Along with that is to conduct trainings, guided project kits, mentoring and much much more. Even the sale of materials be it on order basis or ready of the shelf.

This kind of business would fall into the Share Facilities Business Segment. Much like the Virtual Office Business which is normally hosted along with a Shared Serviced Office Business.

Note that the Business Ideas segment is to give ideas and is just to encourage people whom are looking to start a business. Be it for additional income, just looking for change or opportunity. Information provided is just on a level of concepts generally, some level of detail may be provided as example only. It is best should an individual or group of individuals wishing to use the idea to do through research prior to implementing the ideas. Most of the ideas require adaptation and also further detailing to be even ready for deployment. Take it as a seed. The writers and the host platform is not responsible for any results arising from the use of any ideas that have been made available free of charge in seed form.

Business Ideas….Business of Training

Training. Today it is provided by individuals and organisations. They are in-house, out sourced and also consultant based. There are initiatives and incentives both by governments and also business to increase the retooling of all the work force available.

Reason being that knowledge now more so than before is really irreplaceable.

Hence the business of training is increasingly lucrative, if not fulfilling. If we were to take a light swing at a tag line from a very inspirational business, everyone can teach now too. And we do not just mean it lightly, but everything from cooking and baking to curing, teaching technology to day to day knowledge even in abstract form can be knowledge to be imparted. More so to be shared too with everyone. Value is just the issue.

Trainings can start from as simple as knowledge sharing (real life experience for motivational purposes to skills) till certification and accreditation by organisations and association.

What is generally needed if you do not do packaged training (Training studied, collated, organised and prepared for by specialized training organisations) and would like to build simple but not necessarily customised training is generally the same. You would require the following:

  1. Obvious is the topic with an objective
  2. A knowledge worker with a high level of experience (certification just increases the acceptance of the training information but not necessary)
  3. Well structured training materials
  4. Tools for presentation
  5. Tools for students (If they are not put on the student as a prerequisite to attend the course)
  6. Tools for practical sessions.
  7. Premise or location with facilties (could be at your clients premise this would normally reduce their training cost but not necessarily if there are tools that require relocation and setup)
  8. And training administration support.

Now the above list is just a basic simplification of the total requirements there may be legal, industry or logical requirements to comply to, you can still conduct training as your business. You do not need to take on heavy overheads of premise and staff. There are many methods and options. The simplest is going to a Shared Service Office organisation and see what they can offer you.

 

Note that the Business Ideas segment is to give ideas and is just to encourage people whom are looking to start a business. Be it for additional income, just looking for change or opportunity. Information provided is just on a level of concepts generally, some level of detail may be provided as example only. It is best should an individual or group of individuals wishing to use the idea to do through research prior to implementing the ideas. Most of the ideas require adaptation and also further detailing to be even ready for deployment. Take it as a seed. The writers and the host platform is not responsible for any results arising from the use of any ideas that have been made available free of charge in seed form.

Business online… do i need a physical space for ….

“I have an online business. Why do i need a physical address for my customers? They won’t come over.”

As business methods evolve there are many preferences and requirements. Some are driven by your needs, some by your customers and in environment where there is confusion, then comes driven by legal compliance. What ever the drivers, what ever your choosen medium for conducting your business there are a few minimum expectations, even if they are rarely used.

In the current online business environment, as it is becoming one of the prevalent methods of conducting business, as it evolves more expectations arise coming from a hybrid of business styles of conducting business.

One of them is that even though you may be online hence “virtual”, is a physical address location that you can be located. Preferably at this location you have a set frame of business hours and someone to help you attend to your customers. No longer is it the expectation that you have a full blown setup, but at least a setup that is functional.

So you could use light lease options for your space such as that provided by Serviced Facility providers, you can also use loose labour (such as temp staff or remote working staff or even outsourced attendants) to meet your live people interaction requirements. But you do need to up your setup in todays environment.

So just a frame of expectations that we have collected via responses and enquiries online, human interaction daily etc are these: –

  1. Yes i will buy online. But i want to be able to walk up to the merchants and have a direct live discussion.
  2. I do like the reach online businesses have by them using couriers and such. But would be better if i could just call them up to do the return pick up even if i have to pay for the return cost, but not the replacement cost.
  3. It is ok that i can go to a multi tenanted or hosted location to find them. Even a kiosk will do as long as i can find them there. Even if it is limited days in a week. Hence even a serviced facility location, a mall, even a bazaar or an office address will do. If i get a house address i will drop by anytime.
  4. As many communication mediums need to be available to me. Phone, Skype, Messenger, SMS, Email and more. Even fax.

Leaving you with the above in mind. Look out at any serviced office facility for a Internet Entrepreneur package that should provide you a business address, a mail box, virtual assistant and possible share meeting space. Shared storage would be a nice plus so that you could actually put your stock there instead of your homes. Ask if they could help you secure some insurance service too. This is to limit your losses in event of break in or fire. These facilities do not provide you that kind of protection else your price will be much higher.