Personal Business Plan

Personal Business Plan

Vision and Opportunity

Mission statement: It is within my dreams and plans to come up with one of the most dynamic electronics companies in the United Arab Emirates. Electronic companies have been on rising demand in most parts of the UAE. Media industries, the government, and the public, in general, require up-to-date electronics to cope up with advancements in technology. The company will deal with electronics such as mobile phones, high-end cameras, batteries, television sets, and freezers, among other essentials. Such equipment has been in high demand due to the advancement in technology.

Schools have advanced and are now using gadgets to delivers lectures for online and distance learners. Besides, the tourism and media industry in the UAE has shown significant steps in development. This brings the need for a supply of cameras and other gadgets essential for service delivery. Having identified the market gap, I will come up with a big company that will meet the demand for such products. 

Vision statement: The Company will be the ultimate leader and supplier of electronics in the UAE. It will be built on strong business relations, integrity, competence, professionalism, and trust.

Career and/or educational goals after graduating from Zayed University

Being a fresh graduate, one may be pressurized to apply for jobs that are in line with their university degree. This process may always take long before being accomplished. This may lead to depression. I am not to be on that list by being innovative in my career path. It might be the right decision for one to take but challenging to achieve. Zayed University has equipped me with adequate knowledge on being independent and innovative after graduation. Employment opportunities have been scarce in the recent past. One has to identify the gap which needs to be filled in the market.

My short term goals after graduation include achieving my satisfaction, serving and supporting others in the society, securing a better financial outlook, pursuing additional career-based training, and staring a business, which is the primary goal. Building networks as the primary goal will enable acquire the relevant information and the industry that I am going to get into. Besides, I will focus on improving my communication skills by an excellent speaker in whatever field I will find myself in in the first five years of employment. Personal development is also another factor that I will have to consider most. It is a continuous process that should never be ignored as it will enhance the skills have learned in school and translate them into a real-life situation.

Personal long term goals include being prominent in my field. I am to stand out from the rest of the people in my career line and become someone whose name says it all, whose name does not need any more information or introduction. This will inspire others to achieve their goals. Work and balance is the second-long term goal. I don’t need to be working throughout the day and night. The break is key. The balance between work and life will enable me to achieve my dreams faster and more efficiently. Upon creating the electronics business, I am to be a happy person at work. Marinating a positive attitude will help in the long run. I am to avoid working from home as it brings an office atmosphere in the house and hence compromising the relationship between parents, wife, children, and other relatives. Lastly, as a potential business person, I will also focus on improving my productivity and efficiency in my areas of specialization.

Questions that serve as touchstones to direct my life and work

How can I have an impact on someone? What do I love? What do I fear most? What do I hate?

Current market and opportunities available

There is a various electronic market available in the UAE and globally at large. Due to the advancements in technology, the industry has rapidly expanded, leading to the creation of the market for various electronic products. According to research, there is an increased electric market in the country. The population has increased significantly. Besides, the media industry has been advancing rapidly for the past few years. This has led to the need for more gadgets to serve the increasing market demand adequately. Having identified this gap, it will be possible to set up a company that will serve the people of the UAE. Similarly, there exist various opportunities in the technology industry currently.

Countries such as China and the United States and North Korea have been showing exemplary advancements in technology. High-end mobile companies such as Tecno, Samsung, and Huawei have been coming up with highly advanced and secure devices. These are the kind of companies that will be the source of my products. Mobile phones and television sets from such big companies have taken a better part of the market globally. It will be one of the best ideas to source these products from such companies to ensure I compete favorably in the market.

Marketing and Implementation Strategy

Market positioning statement to the employer/industry

My company will provide unique, high-end electronic gadgets whose accessibility in UAE is rare. This will make me reap more than my potential competitors in the market. I am to provide electronic equipment that will ensure that the customers are served to the level best. Besides, the company will provide a longer warranty period for the customers in case of any complications arising from the use of gadgets. These gadgets will be sourced from big telecommunication companies whose products have caught the attention of many potential customers in the United Arab Emirates. The company will also be built under strict regulations that cover the rights of the customers before everything else.

The compelling value that I will offer to employer/society

I will offer a long-lasting solution to the electronics needs in the UAE. The company will establish honest connections which will attract a lot of people from all walks of life. The company will take care of the market relationships created among the customers for a longer period. Besides, the products offered will be of the best quality to ensure the needs of every client are met. This will also reduce the possibility of complaints emerging from poor service delivery to consumers.

How different I am from other UAE students/population

I’m not scared of disappointment. I think it is a basic piece of the trial procedure that gets you to progress. For instance, when taking care of issues, I apply both rationale and passionate angles in thinking. For example, I’m training in entrepreneurship and innovation so that I can deal with both business and innovation in and outside school. Applying these two key concepts will enable me to realize my goals within the set period. Seeking for employment and the frustrations which come with it will not be within my line since I already have my plans in place.

Risk and Mitigation

Defining success

I define success in life as living my actual reason and positively affecting the lives of individuals by elevating them and moving them to think and act in manners that they might not have considered previously.

External factors/risks that might affect my success

Various external factors may affect the success of an individual. Once external factors influence one’s decisions, they stand to lose. The following are the external factors that may affect my success in achieving my career goals. Firstly, bad behavior can stop forward energy. Getting mindful of your unfortunate propensities and supplanting them with great ones is fundamental to accomplishment.

I began by recording my unfortunate propensities: Do I observe a lot of TVs or play an excessive number of computer games? Does this shield from completing my daily agenda? By keeping in touch with them out, I got mindful of how much time these things sucked from my day and altered progressively beneficial exercises. Drawing nearer to accomplishing my dreams begins with mindfulness and realizing I could be accomplishing something different, something better with your time.

Similarly, associating with a negative person who is putting me to the negative environment is the worst influencer in my life. Regardless of how constructive you are, a contrary individual or condition can come off on you until your psyche accidentally turns to negative considerations before positive ones. For a very long time, I figured this wasn’t correct. I thought being intellectually solid would push me not to be influenced by this. Be that as it may, I found myself grumbling, tattling, and seeing the negative first. So I put forth a cognizant attempt to lead with energy. I felt good, inwardly, yet genuinely, as well. By considering my day by day discussions, is it true that I was included or connecting with grumblers? On the off chance that I continually feel an overview and trapped in a hopeless cycle, it’s a great opportunity to rethink my condition and perceive how you can improve it. External factors should be left outside of my psyche to achieve my set objectives.

Contingency/risk mitigation strategies

The most significant of the achievement elements to quickening your life is personal character. Self-restraint joined with genuineness will open innumerable ways for you. Trust is the establishment of all beautiful relationships. At the point when individuals know me and have faith in me and are persuaded that they can confide in me to keep my assertion and do what they want me to do, they will feel that they are unmistakably bound to get the things they need through me, to get the things they need, quicker, sooner, simpler and with more noteworthy conviction.

Besides, another mitigation strategy for my profession and life is to lessen the measure of time that it takes you to accomplish your objectives is by building up a positive mental demeanor. A positive mental demeanor is particularly a choice that you make. Keeping in mind, I become what I do. On the off chance that I take part in similar exercises that constructive, specific, idealistic individuals take part in, I will, in the end, become one of them and carry on with my most ideal life. Anybody can stay positive when things are working out in a good way. I can search for the positive qualities in each circumstance that I see positive and begin pushing ahead throughout everyday life.

Failures experienced earlier, and lessons learned and how to apply the lessons in plans

There are several occasions I have failed to meet my expectations. Failing to attain the best grades in class, not mastering some units well, have been such experiences. Besides all these problems, I believe that my past failures are a direct reflection of my future success. Regardless of the failures, I g=have learned to use them as fuel for my success. There is nothing like imperfection. It is just a mindset that ought to be mitigated in advance. I expect to succeed in everything I do to accelerate my career growth. Besides, I will not give. At times career may be taking a while before taking off. I will keep going. No challenge, no matter how huge it is that will stop me from achieving my goals. Similarly, I will train myself to remain positive at my lowest point. I hate losing, and I will always hate losing more than I like succeeding. This is the only way to achieve the best as fast as possible.

Ethics

Ethical principles in daily life actions

I always want to receive the best from people, and I must give back the best to them. This is one of my core principles. My integrity is high. I have practiced remaining true to myself, and it makes me feel good. My relationship with people is guided by trustworthiness. It is the foundation of wide networks that can take me far in my career life. Besides, I keep track of my emotions. Moderation is key in my life. I am level headed during success and patient with my failures. Additionally, I speak volumes about other people. Lastly, I find it easy to understand other people’s emotions and feelings. It is always possible because I know myself, and therefore, identifying other emotions can control my actions and words to others.

Two mentors and reasons behind their selection

Ayah Bdeir: she is the founder of LittleBits Electronics. She has been an outstanding figure in the electronics company. Educators mostly use her gadgets. She managed to raise about $70 million by her award-winning kits. Despite the negative perception of the female gender, she has come out to prove to the world that no human is limited. I would like to follow her step since I aim to come up with an electronic company in the future.

Helen Greiner: she is the co-founder of iRobot. This is the company behind Roomba. She now owns several other companies, such as CyPhy Works. She made a lot of money by coming up with a drone that is used in industries and the military. She is my inspiration. She has accomplished a lot while young. She doesn’t look back despite the challenges of male dominance in the industry.

Summary of the Business Plan

The vision, mission, plans, strategies, and goals of the company will only be met if I maintain positive thinking, avoid looking back, and maintain positive thinking.

References

Souza, A., de Oliveira, A. M. M., Fossile, D. K., ÓguchiOgu, E., Dalazen, L. L., & da Veiga, C. P. (2020). Business Plan Analysis Using Multi-Index Methodology: Expectations of Return and Perceived Risks. SAGE Open, 10(1), 2158244019900171.

Götz, J. (2020). Business Plan. In Seasonal Affective Disorder and Light Therapy (pp. 165-203). Springer, Wiesbaden.