Wednesday, September 9, 2009

Strategies for Business Building (Part 1)

Each person has their own way in starting and building their business. Nurdin has a large enough financial capital, then with that capital he builds his business. Rukaiyah also has some skills such as sewing skills, so she builds a convection business. Azlan has a strategic place which is a store that is located at the crossroads in the center of a crowd of a new market, so he opens his grocier business there. Shukri invited by a wealthy businessman from overseas to help him become a partner to open a business in Shukri's place. So Shukri also sees a good chance of business and takes that opportunity to manage the business. There are nothing wrong with them.

In starting or building a business , there are at least 6 strategies you can use:

1. Resource-based strategy
2. Competency-based strategy
3. Market-based strategy
4. Opportunity-based strategy
5. Competition-based strategy
6. Partnership-based strategy

Resource-Based Strategy

This is perhaps the oldest strategy in building a business. A mangoes businessman may initially interested into the business because he inherited the land that is very fertile and very broad in his home village who planted good quality mangoes. He has a superior seeds, money, equipment and so on that support to build such a business.

Included in the category of resource-based strategy here is all resources-based strategy owned by a person to build a business, not including the capabilities or competencies that will be described separately in other sections later on. Among the resources are:

- The strategic geographic location
- Financial resources
- Equipment and technology
- Natural Resources
- The number of labor
- Facilities and infrastructure (infrastructure)
- And the like

Basically, with these resources on hands, someone will enable to build his business. Of course, building a business based on only one resource will not be so strong but fragile. Especially in a a very high competitive environment. Therefore, a businessman needs to combine several strategies depending on his ability to formulate and apply these strategies into a real work.

In this case, resource-based strategies can be combined with competency-based strategy or the market and so on.

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