Chapter Six: Conclusions
Starting a business, it is a big
challenge for me, for my partners and probablyfor anyone else in the world. No
matter what size it is? Or what type it is? The succeed contractor must have a
good foreknowledge of the area where he is intending to invest, best
foreknowledge of the sector or the branch where his business is belong. The
contractor must perform a study of the market andthe possible future
competitorsbefore launching the product in the market.
In this modest work, I tried to answer a fundamental question
which is, if a project of selling a new cosmetic product named as Pure Argan
Oil, will be viable or no?
To answer this question, I did a feasibility study, in which I
did an analysis of the product, industry marketplace, SWOT analysis, market
analysis, marketing strategies, marketing mix, operations plan, development
plan, financial plan and exit strategy. This study gave me a good, obvious and
clear picture of the challenges and the opportunities that our product will
face in the market. In addition, according to the obtained data of this
feasibility study, I learned that this venture will be more viable if we just
focused on the US market in the first three years. Furthermore, after
discussing with many suppliers in Morocco, I got another conclusion that there
is no need of a partner in Morocco, all transactions, and relationships with
suppliers could be managed throughthe internet or by phone. The orders will be
done online; the suppliers will engage to deliver the order to the desired
location with an extra charge.
As a conclusion, this feasibility study showed me that this
venture will be viable and very profitable if it was good managed. Also,I have
two options, continue the company with the two other partners or start the
business as a sole proprietor. However, no matter what decision I will make of
creating the company by myself or with partners, the starting time will be in
the near future, mostly in February 2017.
Chapter Six: Statement of
Learning
Doing this ILP was very important for me. I was able to improve
many skills and discover new ones. I was always shy and scared to talk in front
of people, because of my accent, seen that English is my third language.
However, doing the one-minute survey about Argan oil, it was really a challenge
for me. It helped me to become more confident of my communication skills. In
addition, I also developed many other skills such as research skills, writing
skills, marketing skills and more.
This ILP was a chance for me to do a research on the Argan oil
production and on the cosmetic sector in general, which I had no idea on it
before. Furthermore, I was able to study more on the digital marketing and the
ecommerce. This ILP changed my view of many things, and the way of seeing other
things.
I realized that the ecommerce has a big future. People getting
reach very fast by doing business on the ecommerce. This ILP gave a chance to
attend an Amazon training on, how to sell on Amazon? This seminar or training was very helpful and
practical. I learnt how easy is doing a business on Amazon.
This ILP provided me, new ideas and new ways of thinking about
doing business in the digital market and the best use of social media in order
to achieve this goal.
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