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28-07-2009, 02:04 AM
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Junior Member
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Join Date: Jul 2009
Posts: 5
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Quote:
Originally Posted by Husky
I am still trying to rack my brains to think of something IMHO, an ideal business plan would be one that is
1) be in an industry that you are familiar with
2) yet innovative at the same time
I don't believe in starting something that everyone else is already doing then fighting for a small piece of the pie. Not say impossible, but very hard at least where my industry is concerned. If I were to say open a small little retail pharmacy for e.g. There's a G, W or U everywhere!
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Dear Husky,
you are partially right with what you mentioned yours is relatively similar to differentiation strategy by Michael Porter. However, you can still fight for the small piece of pie such as being a low-cost provider or focus on a particular market segment. As for pharmacist, perhaps you can focus on having good service quality like recommending the right type of products to customers and having a good pharmacist to give good prescription to consumers. That's my 2 cents worth =)
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28-07-2009, 08:33 AM
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start small
Husky, you can start by importing a supplement and brand it well in Singapore with advertising campaigns. Once you establish a name for yourself, you can bring in more. You'll need capital.
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29-07-2009, 11:44 AM
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Senior Member
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Join Date: Jun 2009
Posts: 91
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Quote:
Originally Posted by Unregistered
Husky, you can start by importing a supplement and brand it well in Singapore with advertising campaigns. Once you establish a name for yourself, you can bring in more. You'll need capital.
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Thanks for the encourgament and tips! If I do start something I will announce it here and hopefully get support from salary.sg forum members!
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