In my own view, I believe that pizza business will be a good area of investment if we can couple it with all the necessary research on all key aspects of the market. Anticipating that we will be able to position ourselves in an area where the demand for our product is high but supply is low, we then assured ourselves of having a niche. But before assume this; we should first look into the possible reasons as to why no other pizza houses were established in that area. This may cause a problem because this may be due to people’s indifference to pizzas in that particular area.
When we have assessed the possible answers to this an...
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...d other relevant questions, we can then decide to capitalize on these weaknesses and form them into opportunities so we could be highly accepted in our target market. Take for example the problem about health conscious people and pizza; we could convert them into customers by offering vegan recipes. We should also look closely on our pricing strategy; we should highly consider that low prices are the way to go but also anticipate that this might not be true all the time.
Many new firms adopted this method but end up killing their companies because of high fixed costs and other overheads. We could match prices with other existing pizza companies but offer a higher customer satisfaction so we can create loyal customers. We should not forget that not all customers will sacrifice quality just because of low prices. In relation to our vision, which is to become a recognized pizza producer in the high street; this may be tough but we should learn to stretch our patience more because this will not come to us the moment we open our pizza house.
There will be lots of obstacles along the way and we may feel compelled to give up but we should always look back to our vision. In the management side, I have noticed that we attribute a large part of our success to our pizzaiolo, which I think might be a problem in the future. If only one person will yield that much power in an organization then he could dominate the management to act on his every whim.
I think we should diversify our employees or hire at least 2 or 3 pizzaiolos and see to it that support labor under them will be trained on pizza making so in case any of them decide to leave then there is suffice labor supply. But before I dig down on all of these factors I should not forget the means of putting up our company—that is the financial aspect of our proposed business. We have discussed of pooling resources from our own pockets, but we should consider leaving something behind for ourselves so we have a buffer in case anything went wrong.
As early as now, we should scour for the right financial intermediary institutions that can aid us in our needs without choking us with very high interests. Another area that caught my concern is how we anticipate that “we can sell more because we know more”. I believe that we should never underestimate our competitors especially the ones that have been in the battlefield for quite some time. We are still far from being the best and that’s why we should always try to strive to become one.
With everything in our business strategy, I believe that we did just fine, though there are still areas for improvement. As for myself, I am confident that I will be able to provide the company the management it will need. Though I am not that experienced, I know I will become better as time passes. I will endeavour to learn everything that needs to be done cause I do not want to disappoint my partners and myself as well. Putting up a business such as this will surely change my life especially in areas of time management and handling people or dealing with customers.
I also think that I will need to attend many seminars so I can truly hone my management skills and to learn some techniques that will go a long way. But even if I do all of these things, I still can’t say that I will be a 100% of what a typical businessman could be, because I believe that nothing will ever beat experience. So let experience teach me those other lessons along the way. Bibliography Website “It’s time to start living your own life” <Entrepreneur. com> Website “Devising Business Plan Strategies” <http://www. planware. org/businessstrategies. htm>