Vision and Opportunity
Every one of us has a dream. Some have dream big while other small (Hakala-Ausperk, 2011). Although not all of them are achievable yet we can fulfill some of them. Dreams that become our passion and goals are the one that is known as our goals in life.
My Goals
Like others, I also have some dreams from my childhood that are now turned into my goals of life. Right now, I am a student, so my first goal is to complete my education with flying grades. Not only this but I also want to masters my skills and abilities in business and management. In terms of career, I want to start a business of my own. I love foods and have a big heart and passion for them. I like spending my time with my friends and family talking them on almost every topic of the world while having coffee. It gives me a lot of pleasure when I serve them with my own hand blended coffee. Keeping this in my mind I have dreamt of a coffee shop and want to start my own business of a coffee shop in UAE.
My Vision
My vision is to open branches of my coffee shop all over the UAE. I want to provide a platform and a place for the people of UAE where the can have the quality of time with their friends and family and can enjoy the quality of the coffee.
My Values
Since making coffee and sharing it with my friends is my passion and hobby, therefore my values for my future business will be integrity, honesty, morality, equality, and quality. These five “ty” will be the core values of my coffee shop business.
My Mission
The key mission of my business is to be the sole market competitor. I want my coffee shops to be the number one and most loved place throughout the UAE. where everyone regardless of age and race can enjoy some quality time with their friend and family. In order to achieve my mission, I have to follow my vision while my supporting values.
Key Questions?
In order to make the most out of my business plan the best way is to ask oneself some key questions. These question not only help someone understand their goals and objectives but also allows him or her to access their key strength and weaknesses. Three key questions that I want to ask myself before entering into the market are:
- What am I actually passionate about?
- What I aim to achieve?
- What risks and obstacles I need to overcome?
As the external and internal factors change over the course of time, the answers of these question may eventually change but for now on the answers to these questions are as follows:
I am passionate about making coffee. I want to spend most of the time with my friends and family. The reason behind spending lots of time is my love for peoples around me. The coffee is the one thing that brings families and friends together. It not only gives them the strength and freshness but also gives them the warmth of being social.
The answer to my second question is that I want to achieve the top position in the UAE market. I want to achieve the love of people. I want to build a business of my own that not only benefit me but also my country my nation and my culture.
Since this world is full of ups and downs. The ups and downs in our life depend on how we handle them and how much we are prepared for them. In my case, the risks and obstacles that I have to overcome are firstly the completion of education with high grades and secondly the startup of my coffee shop.
Marketing and Implementation Strategy
The coffee shop culture is currently booming in UAE (“UAE coffee culture to keep booming”, 2018). However, modern scientific advancement has changed the culture of UAE but still, peoples of UAE are fond of their norms. The numbers of café in UAE has crossed the figure of 2000 and still are opening. But the absence of coffee shops that can provide a place and platform for spending some quality chit-chat time with friends and family has resulted in a big market opportunity for my business plan. My love for coffee can provide me with a robust chance for fulfilling the dream of my life.
Positioning Statement
The position statement is one of the crucial parts of any business plan (Sahlman, 2008) that have a long-term effect on the business. A good professional statement can truly reflect the nature and aims of the business. The positioning statement of my coffee shop business will be:
“Refreshing and Warming, The Coffee Shop, is the place of harmony and peace where you can spend chit-chatting some quality time with your friends and family. Making yourself and your loved ones nearer to the culture of UAE.”
Compelling Values
The coffee shop will be committed to providing its customers and employees with an environment full of passion, love, and friendliness. The quality and the price of the coffee and other products will be so reasonable that even a person in the middle and lower middle class can enjoy at our shops. Since the main aim of my business is to provide people with joy and happiness the happiness that is not temporary but an eternal happiness that brings them back at our shops. The aim of my business will also provide me with the ability to socialize well with my customers. The coffee shop will not bring profit to the government in terms of taxes but will also provide people of UAE with jobs.
Difference from Others
Everyone is complete and different on their own. I too am different from other students in UAE. the very first thing that make me different from my fellow students is my passion for coffee. Students like to have coffee in their breakfast in their evenings and with their snacks. The also like coffee to be their friend during night long study time. But my love with coffee is not all about drinking it three or five times a day instead I want to share the warmth and freshness hidden in the cup of coffee. I want to share with the people of UAE the goodness of the cultural, the culture in which friends and family are the central ones.
Risk and Mitigation
Key Milestones
In order to achieve some target setting milestones are a good approach. Milestones are actually tiny goals that are derived from the major goals. They help us achieve the target easily while keeping us motivated all the time. The key milestone that I have set for are:
- Completing my degree with a flying color.
- Starting my coffee shop business
- Bring happiness and joy among the people of UAE
In order to achieve these milestones, I also have developed three checkpoints that help me in attaining the objectives of my life. My first checkpoint is to check out the requirements. The first key step in achieving my milestone is identifying the requirements before actually starting the chase. Checking out of the requirement will give me insight into the problem. the second checkpoint will be the development. After the identification of the requirements of my milestone, I certainly need a plan to be developed so that I can constantly and effectively follow my milestones. The third checkpoint is the implementation of the developed plan in the checkpoint number two. After the identification and the development, the plan needs to be implemented. These three checkpoints will not only help me in achieving my aims and objectives in time but will also help me follow my dreams in a broader perspective.
My Definition of Success
Despite the fact that the success cannot be measured by the wealth (Elkins, 2016), the measurement of success is somehow important in terms of the profit a business is generating. The normal definition of success in terms of a business usually revolves around factors such as customer satisfaction, employee’s confidence, and healthy competition. For me, success is the customer’s satisfaction and a happy employee. A satisfied customer brings in more customers while a happy employee markets your business.
External Factor Affecting Success
The price is one of the most important external factors that have both positive and negative impact on any business (Ly Hoang Anh et.al., 2018). The current market of café and coffee shops in UAE is blooming, therefore, the external factor of price hike does not seem to be affecting so much.
The other external factor is the customer. Dealing with a customer with humbleness and kindness is the sign of good business strategies since customers are the key component of any business, therefore, their satisfaction and treating them with integrity and respect is a must have.
Failure Experience
The failure or the fear that resulted in a negative experience in my past is the lack of confidence. I do have confidence but it takes time to eventually build up. My friends and family had supported me but still, I feel some fear in starting a talk with a new person.
My Learning
The best way to learn is to learn from your own mistakes (Angeleia, 2006). What I have learned with my failure and fear of talking new people is that actually, it is not a big problem, instead, it has its own benefits. The shyness can give e a lot of time to observe a person before going friendly with him. This failure will give me a prominent benefit to my business. I can use my shyness to read about the personality of the person in front of me.
Entrepreneurial Ethics, Personal “Board of Directors” and 6-Words Summary
Ethical Plan and Principles
In order to achieve the ethics in my daily business life I have promised myself to follow these ethical principles:
- The quality of the services I will provide will be of high quality.
- There will be no comprised of any type neither on taste nor on quality.
- The customer satisfaction and employee’s happiness will be in my top priorities.
- Fair and Ethical policies will be implemented in my business.
Personal Board of Directors
Advice from peoples that are close to you is one of the best things to look through your problems (Gambrell, 2012). Usually, an advice is taken from three types of the people, one that is your ideal, one that you think have a grasp on the field of the problem and the one whom you love the most. For me, the ideal one is His Highness Sheikh Zayed Bin AL Nahyan, the person having the grasp is my teacher and the person I love most is my mother. The heroic personality with a blend of wisdom and kindness is the key characteristic of His Highness that made me select him as the mentor of my business plan. The guidance support and the knowledge of my teacher is the one that can be helpful for me in terms of developing business strategies while the kindness and the cooking of my mother bring her as the third but most important mentor for my business.
6-Words Summary
Love, Family, Friend and A Coffee
References
Angeleia, D. (2006). How to get over him and learn from your mistakes. New York: iUniverse.
Elkins, K. (2016). Billionaire Richard Branson’s definition of success has nothing to do with money. Retrieved from https://www.cnbc.com/2016/08/04/billionaire-richard-bransonsdefinition-of-success-has-nothing-to-do-with-money.html
Gambrell, J. (2012). In my own words …. Bloomington: Xlibris Corp.
Hakala-Ausperk, C. (2011). Be a great boss. Chicago: American Library Association.
Ly Hoang Anh, Dong, L., Kreinovich, V., & Thach, N. (2018). Econometrics for financial applications. Springer.
Sahlman, W. (2008). How to Write a Great Business Plan. Harvard Business Review.
UAE coffee culture to keep booming. (2018). Retrieved from https://www.khaleejtimes.com/uae-coffee-culture-to-keep-booming
