How Can A Startup Consultant Help You Run Your Business?

Start-up consultants might be a good option for every new and existing company, but a competent expert can be ideal for a new start-up for several purposes. Start-ups can benefit particularly well from the ability of a start-up consultant to understand and determine unmet needs and appropriate direction through at least various practices.

Accomplishment of Particular Tasks

It could be very helpful for a start-up to get something big off from its plate with the assistance of a consultant for a particular task. So, that there is an apparent goal to achieve and a way to determine success or failure. Once the particular undertaken work is accomplished, the start-up consultant leaves the company at a better position than before, with less work-load for management to bothered about.

Providing Coveted Time for Hiring

A Start-up consultant can provide your company the additional effort require to get over the hump, playing an important role until you can recruit for a particular position. This helps in filling the gap so you need not to rush through the hectic hiring process. The start-up consultant can be filling in as temporary employee, and if that particular task is done well, you might even utilise that consultant in your hiring process to find the ideal “replacement.”

Presenting an Outside Diagnosis

An average start-up consultant might be spending half of his time (roughly) in discovery, or take his time to understand your company. Then, research will be performed to understand the competition and to identify the market condition before sharing a recommendation to provide directional help. It is the outside opinion and the process and that actually makes a start-up consultant’s advice relevant and important; if you are willing to take a chance to reduce mistakes and to take the advantage of opportunities by thinking out of the box, then you will be required the perception of an unbiased business expert who has no emotional ties to the status quo.

The startup business cannot succeed without the involvement of prime and essential person known as consultant. In order to have flourishing business, a consultant is quite important to have a greater contribution for long term success. The process involved in appointing a full-time consultant is considered to be tedious task for the start-up business.  If you engage the consultant’s property then it will make you to focus on product advances versus spending your treasurable time in hiring talented employees for the business.

A professional consultant used to carry out various tasks for the Thailand Startup Business Development like conducting interviews, offer outstanding services and assisting in marketing development. If you are looking for a well-trained and knowledgeable consultant, then it is quite essential to check their expertise by conducting interviews. The consultant has the capability to work for the welfare of the company along with you. Therefore, it is quite essential to choose a person who naturally suits for your business needs. To choose a best consultant, you have to carry out plenty of research work to acquire the best one beyond your expectation and needs. Before looking for a consultant, fix a budget range according to the profit percentage after that choose a consultant who will carry out fruitful services for your startup business without exceeding your desired price range.

What Does Startup Consultant Do?

A startup consultant is quite helpful in all kinds of business problems in an easy way. Since, good consultants usually have an awe-inspiring knowledge and experience regarding the business development. Moreover, they also encompass adequate years of experience, skills, knowledge and process for improving the condition of the business. The startup consultants are regarded as the outside experts who can solve issues on internal business. A consultant can offer enormous advantages to the business expansion and also aids in sales and marketing development. Other than that, consultants also execute their innovative ideas and skills for the improvement of existing business and also offer recommendations on specific tasks as well.

Similar to the internal employees, consultants also have self-determining schedules, sometimes have numerous clients and hence hired on the basic of contract or project. According to the consulting company, the consultants carry out their work either alone in group. When they tend to work in group, they tend to carry their own team that normally includes project manager as well as two analysts.

  • Post consulting: You and your consultant might able to lengthen your agreement or else proceed on your own implementation.
  • Pre-consulting: Before to starting the work process, you along with your expert create the agreement on the terms and parameters with the company. The “consulting agreement” is quite useful in working with the specified consultant
  • Consulting period: Typically the consulting period encompasses to discover, research as well as offer final presentation on completion of project recommendations.

Why Do Business Owners Hire Startup Consultants?

Most of the small business owners like to hire consultants in a cost-effective manner because they serve as a perfect bridge to connect the gap taking place inside the company by making use of intensive skills and knowledge. These skills are extensively useful for the Thailand Startup Business Development so as to bring up unique, independent and professional perspective for the welfare of the company. Without proper startup consultants, business owners will never get flourishing success.

The below mentioned are some of the general reasons why most of the clients get the assistance of consultants for their business:

  • Find out the existing problem: In several situations, business will be experience challenging symptoms like issues on cash-flow, sales decrement and other internal problems which is not possible to point by the internal management. In those cases, professional consultant seems to be quite useful. They analyze the problematic symptoms taking place inside the business during operations by conducting tests and research works. They also easily identify the root cause for the problems.
  • Creating perfect solution: In some situations, you might not able to find solution to the problem which is taking place internally. Your in-build employees might not have that much core competency or skills to eradicate problems taking place in the company. During such conditions, it is extremely important to hire a professional and reputed consultant who can save your precious money and time by giving suitable solution for your pertaining problem and hence able to provide good result as well.
  • Optimization: In some situations, your business will be growing to a greater height and there will be plenty of things to accomplish further for massive development. However, you might not know where to start to bring laurels for your business development. A consultant can come with fresh business perspectives, estimate all business areas and regulate the process and procedure to augment business productivity.

Formulating A Road Map

Startup consultant frequently necessitates for strategic planning which is regarded as the essential step in starting a business. But this strategy is missed tremendously by the startups as well. Most of the start-up businesses tend to operate in their own way because the entrepreneur might be new to the business or does have trust in the strategic plan requirement. This in turn leads the business to grow in an irregular manner. Without proper business strategic plan, the startups cannot able to reap the advantages which comes in the way of business development. Moreover, the business seems to be unprepared for its growth when there is no proper planning.

A well-reputed startup consultant can offer assistance to avoid those troublesome situations in the form of road map creation for the business strategic plan. The road map creation helps the business to concentrate more on its efforts, new opportunities, prepare to meet obstacles and aids the business to grow in balanced & logical way. The prime success of the Thailand Startup Business Development lies in the strategizing process since it is vital for startups. These sorts of plans put your business in top position and hence you can go ahead in terms of business expansion. It might make your business to create its further move to enter into the new market to beat completion easily.

Structuring a Business Plan

Another crucial thing which startup consultants can assist the businesses seems to be business structure. In order to renew the business structure beginning from the strategic planning session, professional startup consultants will offer guidance and support. The consultant can also assist the business to experience strategic alignment which in turn streamlines the divisions and department of the business.

Many startup businesses keep on adding department on the basis of their need or else to withstand their growth process. By doing so, several startups have been end-up with enormous departments which join each other or possess inaccurate roles within the business.

After some time, several divisions seem to be extremely unimportant and the firms are left with numerous departments which are not much necessary. Strategic planning and strategic alignment can help the entrepreneurs to re-envision the business structure. You can work out on the departments or divisions which you need.

Advices Required For The Business

Startup consultants not only create suitable strategic plans to have great influence on strategic alignment but also offer advices for business developments.  Their advice and expertise are quite useful in several business areas and hence they tend to offer varying consulting services as well.

For instance, the startup consultants will able to analyze and carry out research process on your customer experience and hence inform you what is suitable strategy and how it will work for your business. Other than that, they can also able to suggest where you could easily outsource functions in terms of human resources.

Search for the consultant who comes through recommendation and also conduct some interview process to make sure that the consultant work with you for the development of business. You are expecting for some person who obviously fits to your business needs and requirements then there are crucial things to consider. Fix a budget depending upon the fixed profit percentages and then find the best consultant who will execute the services for startup business needs within your estimation. There are numerous consultants scattered all over the globe, so it is quite important to carry out some important research to acquire the best one for the business.

Conclusion

A startup consultant can assist in running a successful business by means of proper planning and execution. Startup consulting services shows positive effects on the business development. You need to keep in mind that all consultants are not treated equal and all business or business projects are not created equal, so you need to be highly careful in hiring a best consultant.

Startup consultant is regarded as the stepping stone for the business development and growth factor. You need to think why you need to hire a consultant, how long you will wait prior to seeing results and how much you can provide for the consultant. To gain positive outcomes for your business, you need to acquire a best consultant who can provide greater success for your business.

Thailand 4.0 – A step towards Digital Future

Across the globe and in Thailand, the nature of work is being transformed by an interconnected and complex set of factors like the unparalleled speed of innovation, technological advancement, climate change, demographic shifts, increasingly disintegrated production systems and rising inequality. These initiatives foster to a greater understanding of the changes and help the nations in developing effective policy responses that proactively shape the future.

The government of Thailand is striving hard to endorse “Thailand 4.0” as its new ploy and economic model for towing the country out of the middle-income trap and offer an impetus to the country to move into high-income range group.

Why Thailand 4.0?

In the initial model, “Thailand 1.0,” importance was given to the agricultural sector.

The following model, “Thailand 2.0,” focus was on the light industries that helped promote the country’s economy from the low-income to middle-income status.

In the late model, “Thailand 3.0,” the government is stressing on heavy industries for continuous economic growth. In this phase, the country has stuck in the middle-income trap and is facing imbalanced development and disparities.


Moving towards a value-based economy

The Thailand 4.0 initiative emphases on a value-based economy, as the nation requires dealing effectively with disparities and inequity between the society and environment. Thailand 4.0 comprises of three elements that mark a noteworthy change in the nation’s production and economy.

  • Moving into the high-income nation group
    The first component purposes to improve the country’s standing in becoming a high-income nation by being a knowledge-based economy, emphasizing on science and technology, research and development, innovation and creative thinking.
  • Moving towards an inclusive society
    In the second component, Thailand would attempt toward an inclusive society with unbiased access to the development and prosperity.
  • Focusing on a sustainable development and growth
    The third component emphases on sustainable development and growth for achieving sustainable development and economic growth and without jeopardizing the environment.

What is Thailand 4.0?

The modest answer is Thailand 4.0 initiative is an economic model which is based on innovation, creativity, high-quality services and new technology, employed for boosting the quality of life. This initiative is, however, a stepping stone in the advancement of the country’s development. Thailand 4.0 would focus on rotating country’s labor force into knowledge workers across key economic segments.

The process of achieving this is through exploring the use of technology, science and innovation for boosting the Thailand’s economy, concentrating on agricultural and industrial sectors, public health and medical technology, collectively with the overall trend for a robotics industry

In the steps for embracing a viable, value-based economy, building digital advanced start-up networks, developing digital communities, and creating digital parks for SMEs (Small and Medium-sized Enterprises), has become a priority for Thai government. It is easy to apprehend knowing that there are 2.7 million SMEs which account for 98 percent of all the business units in the country that also account for 37 percent of country’s GDP, 25 percent of exports, and offered more than 11 million jobs in 2015. ICT (Information and communication technology) therefore, is the key driver for national development, predominantly for gaining the transition to the knowledge-based economy needed under Thailand 4.0 implementation.

The digital economy has the potential for socio-economic impact and the country could build on the digital strategy for securing new opportunities for the nation.

  • Within two decades since 1994, the digital economy globally today worth $11.5 trillion, equal to 15.5 percent of the global GDP.
  • In the year 2016, Thailand formed the Ministry of Digital Economy and Society, setting in place a 20 year National Digital Economy Masterplan, spread across four phases:
  1. Setting the digital foundation
  2. Realizing digital inclusion
  3. Moving to total transformation, and
  4. Accomplishing global digital leadership
  • Since then, the country has propelled initiatives such as Thailand 4.0, Digital Thailand, and a special program to develop the Eastern Economic Corridor.
  • The 20-year National Digital Economy Masterplan is on the right track with numerous worthwhile initiatives:
  1. Establishment of hard infrastructure
  2. Hastening of the digital economy
  3. Encouraging digital government, digital society, soft infrastructure and workforce development
  • Thailand would be reaching its desired digital frontier by concentrating on evolving these key areas:
  1. Transformative business models
  2. Digital foundations (data sharing, future-ready networks)
  3. Cross-cutting institutions related to agile policymaking and strategic foresight
  4. Digital skills

As a part of this ongoing process, Azure Computers Thailand, a JV company of Aditya Group and a startup through Startup in Thailand initiative, has been helping a leading Thai bank with mobile technology application development for digital convergence on 4.0.

Digital Parks

Propositions for a 100-hectare digital park is launched, signaling a colonel step forward in the country’s digital aspirations. The Digital Park Thailand, situated in Sri Racha district of the Chonburi Province, was revealed at The Digital Thailand Big Bang Conference 2017. The site would be targeted particularly at technology and digital industries and it is expected that more than 58,000 people would live and work together.

The new district would be developed over next 10-15 years and is within the EEC special economic zone. Together with promoting the digital industries, there would be a range of education and science facilities and the formation of a new residential community.
This arrangement would also complement and support present industries and people in the expanse, embracing schools, universities, and segments including agriculture and automotive.

The master plan is designed by a global conglomerate which includes Savills, Broadway Malyan, and the TEAM Group, and would see the creation of several specialist clusters concentrated around a central park and lifestyle and retail hub. It would include a hotel and MICE facilities for supporting the business group within this Digital Park.

The plan would be planned around the digital boulevard and green connector joining the diverse clusters and a sizeable living zone would provide an array of quality housing facilities designed within an opulent, landscape backdrop, in close vicinity to community facilities. This would-be cyclist and pedestrian friendly with access to the public transport network of buses linking to a wider transit system which includes High-Speed Rail and key airports.

The first phases would concentrate on the development of a data center cluster and IOT Institute building. The Institute would include a mix of uses, like teaching, research and conferencing. The institute would seek to draw a number of anchor tenants, signifying the strategic cluster industries in the Digital Park.

The development assists the Thailand 4.0 agenda and country’s Digital Government Plan 2017-2021. Initiated in March 2017, the plan aims to create digital capabilities in across sectors such as tourism, agriculture, health, education, disaster prevention, investment, and public administration for driving social and economic progress.

As one of the leading boutique consulting firms for the last 15 years, Startup in Thailand has been assisting foreign companies to do business in Thailand through various business models like  Thailand Market EntryRepresentation or Business Outsourcing modelsContact them to get a FREE Consultation.


Tax breaks for encouraging investment

The Thai government has set an aim of furthering investment in R&D to 1% of GDP over the next 3 years.

The Thailand Board of Investment would offer tax incentives for businesses investing in particular categories for helping improve the Thailand’s competitiveness in them. It includes technology, creative and digital industries, bio-industries, advanced manufacturing and high-value businesses.

Similar incentives would also be provided in several other sectors like minerals, agriculture, light industry, ceramics and basic metals, electronics & electrical appliances, machinery & transport equipment, paper & plastics and chemicals. The Board of Investment would offer businesses 8-year income tax exemption aligned with its 7-year investment promotion strategy (2015-2021).

The board would also liaise with several institutions, such as Kasetsart University and the National Science and Technology Development Agency (NSTDS) and The National Centre for Genetic Engineering and Biotechnology (BIOTEC), for promoting and developing core technologies. The board is also in talks with local and foreign investors for investing in technology so the knowledge acquired overseas could be used locally. However, it is required to develop human resources for supporting innovation and new technology and thereby supporting the demands of the market.

The Thai investors had invested 0.6% of GDP in research and development and are expected it to rise to 1% by the year 2020. In the past investment in research and development had been 70% and 30% private, however, the board hopes the tax incentives would promote a better involvement from the private sector. In brief, the Board of Investment is hopeful of attracting 600 billion Baht as a foreign investment by the end of the year as compared to 584 billion Baht last year.

Japanese investors surpassed other investors, followed by Chinese, who were among the biggest new investors in sectors like automobile equipment and solar cell technology.

Thailand BOI would also help in boosting local investment and creating confidence among the local investors. The Thai government believes that growing the investor confidence will also drive the nation towards Thailand 4.0.

Today, Thailand is seen as the investment hub for petrochemicals, electronics and automobile industries and these investments would drive the growth of country’s exports and would help in using the technology expertise received overseas in the local markets. Read more about Investment Opportunities in Thailand and how startup specialists can help you to setup your business in Thailand.

How does start-up company market or plan to market its product or services?

It is the dream of any entrepreneur to start their own company on their own effort and hard work.Every year thousands of people across the world, try their fate in this tough competitive market to start their own business. Launching start-up requires lot of hard work, determination and many end up failing.

When an entrepreneur thinks of starting a new venture from scratch, it takes lot of guts, quick thinking, careful planning and well execution. Now-a-days people involved in business in Thailand needs to be careful about the presentation they doing before the consumer. Therefore before launching a new venture, an entrepreneur needs to be careful about its planning and execution. Any wrong step taken by the entrepreneur can result in loss of the company.

Here we are not only discussing about big companies, it can be big or small companies where the idea needs to be implemented to get the business on the right track and make it going in the long run. A good marketing plan what a start-up requires putting the Thai business on the right track, which will help the entrepreneur to decide how and where and when to spend the resources. A series of steps need to be followed by the entrepreneur in order to get the business off-ground. There is no assurance that you would taste the success. But there is no harm in planning and trying to launch the business by taking few correct steps.

For those entrepreneurs who survive till end after facing the hardship is quite worth rewarding by the obstacles that they have faced in path of success. Few steps need to be taken by the entrepreneur for the betterment of launching new venture in front of the consumer.

1. Ignite your passion

The most important thing in life for any entrepreneur is to have passion and zeal. A start-up does not only require great ideas but it needs real passion to make a mark and solve the business issue. An entrepreneur can never touch the success ladder, if things are being done half heartily.Therefore it is pretty much essential to have great ideas, but the best of the ideas would fail to execute if there is no passion in it. When an entrepreneur starts a new venture, he or she needs to make huge sacrifices and equal amount of hard work and dedication. So without a passion, even a great idea would fail to make a mark on business. So it is advisable for any entrepreneur to have passion for the things that they are planning to start-up or trying to launch.

2. Brainstorm.

It is very important for an entrepreneur to have a clear vision about their business that they are suppose to launch in future. Before an entrepreneur plans to pen down the marketing plan, they need to try to have look or focus on his or her business plan. He or she should try to consult the business plan. Self analysis is a very important and entrepreneurs need to question themselves about their decisions and actions. He or she should try to review the goals that they have set for themselves and try to look at the product or services that they are offering to the consumers. They need to analyze how their products and services are going to benefit their potential consumers.How they can distinguish from their competitors and can stand out in a market place. Lot of questions they need to ask themselves and analyze to make before writing a marketing plan.

3. Do market research

Now-a-days consumers are well informed and pretty much conscious about their purchase. It is not mandatory that if your company in Thailand is dealing with buying and selling of product or services, it does not mean necessary that consumer will buy it. Before entering the market, an entrepreneur needs to have a look at the market very carefully. One wrong step can cause blunder. One of the important steps is to do a proper market research of the potential consumer that they willing to attract. It is essential to conduct primary research to know your consumers better. Lot of questions an entrepreneur need to answer himself. Like what are the products or services you are offering to consumer? Will your product would be able to attract the target consumer? Is there is any space for your product in the market? Various tools can be used like interview, surveys, and questionnaires in order to know the taste and choices of the conumer.There are lot of aspects that an entrepreneur needs to consider before jumping to go for a new venture. The success of any new venture depends in the hands of consumer. So after getting all the information and knowing a consumer choice, an entrepreneur can think of taking next step.

4. Write business plan

Once you place an idea, there are few important questions that an entrepreneur needs to ask themselves. When and how they would utilize the resource? What are the goals that he or she is setting for himself or herself? Like this there are lots more questions that an entrepreneur need to assess and decide on the actions that they need to take in the future. A business plan would help an entrepreneur like a guide map where it would be possible to figure it out where the company is heading in near future and would get the scope to choose the options they need to choose to overcome difficulties and try to sustain in long run. It is like a guide map that would help to steer your business along with its grown curve.

5. Assess your finance.

Finance is being considered the back bone of any business. It is not possible to start a new venture without any capital. Before jumping into new venture, an entrepreneur should try to have a look at his pocket. It is very important to determine what you have and what you need? Without a sufficient finance, a business can never sustain in the long run. An entrepreneur must have self sufficient amount of money to start a new business. May be in future they need to invest more money, then they should keep an arrangement for acquiring loan from banks or should try to take the help of financer.

6. Identify your target consumer.

It is not necessary that all consumers would be interested to buy your products or services. Consumers have their individual taste and preferences and would continue to make a purchase on that basis. So it is pretty much important for any start-up to identify their target consumers and the product and services that would be appeal to them. It is essential that a company need to know the consumer choice and their liking. This would make them interested to have a look at their product. But that does not mean company limits their audience. They should spend time and money to reach to everyone. By determine the target audience; it would be helpful for company to know their resources that they need to start-up

7. Choosing location

Choosing location can also play hell and heaven difference. An entrepreneur must choose such location where there are easy available of access and consumers, suppliers and distributors would be able to reach them.

8. Web presence

In the age of social media, web presence is very much essential for a new start up. Social media is one such medium that gives the start-up a platform to reach to millions of consumers in fraction of seconds. The web site can provide all the required information about your company that consumers might be looking for. There are various platforms an entrepreneur can choose or look for like Facebook, blog site. Its all about the information that consumers look for and it is direct medium of interaction with consumers which helps the company to get their feedback and opinions.

How to Obtain Financing for your Business in Thailand

People who are planning on starting a business in Thailand are sure to find that they need plenty of cash to get their venture off the ground. During the planning stage it is essential to be realistic about how much money you actually need and do research to discover the hidden costs of starting up business in Thailand.

For many people, the decision about whether or not right now is the right time to start a business in Thailand  comes down to funding. There are quite a few different ways that you can go about funding a startup, but not all of these methods are created equally and in fact some can be rather risky. You may have a brilliant business idea that you have perfected over time, but it will not mean much in the end if you do not have the funding in place to not only make your business happen, but allow it to succeed and flourish.

It is important to analyse all of the different angles of your business carefully as well as your future goals and then further analyse each type of funding opportunity carefully so that you make sure that you are starting your business off on the right foot. One wrong move when it comes to finances and you could be back to square one or even worse if you incur a large amount of debt along the way.

It is important to realize that a large percentage of businesses in Thailand fail in their first year and one of the main reasons for this is that they do not have enough funds to help get them through the tough times when they are establishing their customer base and getting their message out. Obtaining financing for your business in Thailand is a great way to make sure that you have the extra funds that you need. Here are some key ways to get the financing that you need.

Government Finance Incentives

The Thai government offers financial incentives in the form of tax breaks and tariff reliefs for businesses in the United Kingdom and the USA that are looking to expand and invest in the Thai economy. These special tax incentives are inclusive of most of the main industry sectors but usually only apply to businesses that are looking to invest outside of the city of Bangkok in specific development zones. The government incentives that are available to take advantage of include:

  • No corporate income tax for up to eight years
  • Import duty reductions or exemptions on machinery and raw materials
  • 50% reductions on corporate income tax for five years
  • No public utility costs
  • Deductions for infrastructure construction or the installation of infrastructure
  • No restrictions on foreign currency remittances

Private Banks Finance

Banking in Thailand is made almost exclusively of large national banks. Since the Asian economic crisis in 1997 the sector has dramatically improved its regulations. As with all commercial loans, a strong business plan and an understanding of the local business conventions and etiquette are important if pursuing this form of finance.

It is also recommend that you seek the advice of an account and an agent with a strong knowledge of the local finance environment. Companies such as Start Up in Thailand can help companies that are new to doing business in Thailand to form a strong business plan that is more likely to be approved by Thai banks.

The British Chamber of Commerce Thailand and The British Embassy in Bangkok are currently working together on a special programme that aims to assist businesses that are already established in the United Kingdom in expanding to Thailand, helping them to successfully gain entry to the marketplace through contacts and advice and contacting them would also be a good starting point.

 

Crowdfunding in Thailand

Obtaining the necessary funding capital for a true startup business can be difficult because anyone who is potentially interested in lending money cannot be absolutely sure that your idea will be successful. Many people who have a clever idea or invention have moved to Crowdfunding platforms. Although the idea is quite new in Thailand, many Asian economic experts believe it will be an important concept to spur economic growth and encourage new entrepreneurs.

Platforms like Indiegogo and Kickstarter are great examples of websites where you create a Crowdfunding campaign that will attract attention. The way that Crowdfunding works is that absolutely anyone can contribute money toward helping a business that they really believe in. Other local Thai crodfunding options to consider are Dreamakerequity and Sinwattana.

An entrepreneur will put up a detailed description of their business idea on a platform such as Kickstarter and this should include details of the goals of the business along with the future financial strategies for turning a profit, the target audience, how much funding the company needs and for what reasons. After this consumers can read about the business and give money if they choose.

Generally, people who are giving money to the business will make online pledges with the promise of pre buying the product, giving a donation or earning some type of reward which could be other related products, a holiday or just about anything else that you feel will attract donations.

However, it is important to keep in mind the fact that although Crowdfunding campaigns may be trendy right now, there are hundreds of different campaigns that go unfunded each year through this method or fall short of their funding target. This is a competitive place to earn funding, so unless your business is absolutely rock solid and can gain the attention of the average consumers through just a description and some images online you may not find that Crowdfunding to work for you in the end.

The secret to gaining funding through Crowdfunding is to create an interesting and engaging back story that will help to paint a picture about your driving force and passion rather than simply asking for cash. People are more likely to feel inspired to help fund the business in Thailand if you appeal to their hearts rather than just their wallets.

 

Venture Capitalists

This is often a group of professionals who are interested in funding strong startup ideas. It is often the case that venture capitalists they have plenty of money to invest and simply need to be convinced that your business will be profitable enough for them to get their investment back with interest. This is the ideal funding resource for people who are starting a business in Thailand, but it should be noted that it does have a few downsides.

The biggest of these is that venture capitalists generally search for larger investment opportunities rather than funding small businesses because these usually offer a much larger payoff in the end. The startup and the entrepreneur will need to be stable and have a professional team behind it.

In some cases, it will be necessary to surrender partial control of the company to the venture capitalists. People who are interested in receiving this type of funding must make sure that all the details are clear so that they know exactly what the terms are. In addition, it is essential to draw up a legal contract to make sure that everything is above board and expectations are met by all parties involved.

 

Angel Investor

There is a large number of Angel investors in Thailand and this type of funding works in a similar way to venture capitalists. The main exception is that Angel Investors are a much smaller operation and in fact this is sometimes only one person. In exchange for providing funds, Angel Investors often want a large portion of the company, which mean when you start to make a profit they also make money.

It should be noted that owning as much as 49 percent of a company is not unheard of with an angel investor, which can seriously reduce the amount of profits that you will be able to enjoy over time. people who are series about funding a startup may find that entitling the help of an Angel Investor is one of the best ways to raise the extra cash that they need because it allows you to keep control over the company and hopefully make money as your company continues to grow.

In addition, Angel Investors are experienced in doing business in Thailand and because they will have an active interest in making sure the company does well they can provide mentorship and perhaps important connections. However, check out the background of the Angel Investor carefully before jumping into bed with them to make sure that they really are who they say they are and have the funds and skills to help you succeed.

 

Private Equity Financing

There are several other types of fundraising trends that have positive overtones to choose from in Thailand. 500 Tuk Tuks, which is the local branch of 500 Startups, has formally launched in the country and provides an interesting option for those who are looking for funding.

Moo Natavudh Pungcharoenpong, who is the founder of Ookbee, is a venture partner and Krating Poonpol, who is also a notable tech leader in the country, is another venture partner. People who find that they are having trouble obtaining the funding that they need for their business may discover that contacting these prominent entrepreneurs and setting up a meeting can help to smooth the way.

 

Small Business Loan

When most entrepreneurs are thinking about obtaining funding for their business, the bank is likely to be the first place that they turn. Major banks tend to offer a variety of specialised options for situations such as small business ownership in the form of microloans. However, people who are setting up a company in Thailand for the first time are likely to find that the main obstacle in obtaining a small business loan navigating the way through an often very tough lending period.

When an individual goes into the bank, it is essential that they are able to present how every single baht of the loan will be spent. Even if this has been done in a clear and convincing manner, sometimes a first time business owner may simply seem too risky to the bank and they might not be granted the loan. If this is the case, companies may also want to consider a small business loan alternative from a provider such as Express Capital that specialises in these specific types of financing.

 

Public Financing

It was announced in 2015 by Thailand’s securities and exchange commission that it now allows foreign firms to launch initial public offerings – known as IPOs – in the country and list on the Stock Exchange of Thailand. This is part of the rapidly growing trend for Thailand to establish itself as a centre of fundraising for companies in neighbouring countries such as Cambodia, Laos, Myanmar and Vietnam as well as in the Chinese south-western province of Yunnan.

However, it can also be advantageous for foreign companies who are planning to do business in Thailand and require public funding to help get them off the ground.

 

Private Debt Financing

The Thai Credit Guarantee Corp is now making it easier for local Small Market Enterprises, commonly known as SMEs, to attract debt from banks. At the current time it is difficult to secure even a small loan from the bank for business, despite the financial history and size of the business, without collateral. This special program aims to make the process easier and it is certainly worth looking into, although it may take a little time before all of the components are in place.

 

Traditional Lenders

This is often where business owners start their search for venture capital. In order to convince a bank in Thailand to loan money for a new startup, you will need a very strong business plan as well as sound personal credit and the ability to be a smooth talker under pressure. If possible, collateral can be used to seal the deal and make things easier. Equity in a residential or commercial property could be leveraged to obtain the money that is necessary.

Banks nowadays are not as willing to take financial risks as they have been in the past due to global economic woes. There are lots of traditional money lenders in Thailand and they offer to lend anything from just a few thousand baht to hundreds of thousands. However, there is often a high interest rate that has to be paid back and it is not unknown for private money lenders to raise the fees without warning.

Anyone who is planning to receive a loan from a traditional money lender in Thailand is best off seeking a reference from a professional contact and making sure that the contract is fully legal and air tight by having it checked over by a lawyer before signing.

 

Credit Cards

People who have an excellent credit history may be able to use that to help them to use a line of credit to fund their startup. There are specific credit cards that are designed for entrepreneurs, so it is a good idea to pay a visit to your bank and talk about some of the options that are available.

However, it should be noted that using credit cards to provide extra funding for a startup in Thailand is one of the riskiest options around, but people who are able to make it work may well find that it can likely offer you the best results from the perspective of managing to hold on to complete control and full ownership of your company.

 

Help from the Community

There are lots of expats in Thailand as well as Thai small business owners who may be willing to lend or invest a promising business a few thousand baht. In many cases, these individuals simply want to help out for the chance of feeling part of something, while others may be willing to provide sponsorship in order to promote their existing products or services.

It is worth taking the time to work your existing connections, as people that you know already may be more willing to help and provide better interest rates than strangers. It is also worth considering organising a fund raising event where you can showcase what you have to offer and enlist support.

 

Get Professional Finance Help and Advice

A company that specialises in startup consulting such as Start Up in Thailand will be able to provide you with more information on the costs of opening a business in Thailand. Because they are specialists in this field, they will be able to give you a clear picture of other elements that you may have overlooked or may be unaware of.

The legal team may also be able to provide tips on how to reduce costs, which is very important for anyone who is planning on doing business in Thailand. In addition, the consulting startup may be able to provide assistance in obtaining financing for your business in Thailand that will help to make the process a lot quicker and easier. Please, contact us for a free business consultation in Thailand.

Starting a business with Angel Investors in Thailand

Thailand, and its capital city Bangkok, has long been a business hub for Business Angels. Both domestic and international businesses have thrived in the region over the past decade, making it the second largest economy in South East Asia.

Part of the appeal for businesses is Thailand’s low cost of living. Good quality commercial properties are available at reasonable prices and the country’s current business regulations encourage entrepreneurship. A strong work ethic and an increasingly educated population further strengthen the case for doing business in Thailand.

The prospect of starting a project or investing in Thailand is therefore appealing to many people, both local and foreign. Yet, unless you are already well established in the country, securing finance for a startup can be difficult. Most banks are reluctant to lend unless a property or pre-established business can be placed down as collateral.

A history of entrepreneurship does exist within Thailand, but this often based around the tight-knit family structure. Small family businesses are the most common source of employment and investment is usually inward with capital shared between friends and family.

So without a foot in the door, how can an outsider seek to penetrate the potentially golden Thai marketplace? One way is to seek assistance from an ‘Angel Investor’ or ‘Venture Capitalist’.

Foreign Angel Investors Operating in Thailand

In the past, such investment has come from other South East Asian nations, namely; Singapore, Hong Kong or Japan and their investments have been focussed around the tech industry. Using techniques and expertise adopted from their own nation’s successes, these investments usually return a profit. Here we look at the best South East Asian Angel Investors operating in Thailand.

Japan

Cyber Agent Ventures

The Japanese Investor firm Cyber Agent Ventures, is a Venture Capitalist firm investing in Internet start-ups. They claim to have capital upwards of 100,000,000 Yen (around 34.5 million baht) and have eight offices located around Asia. Their CEO Soichi Tajima describes them as “a venture capital company that specializes in Internet businesses.” Beyond just investing, they claim to “aggressively help maximize the value of outstanding and emerging Internet services.” Despite being based in Japan, Cyber Agent Ventures would certainly be a valuable partner for anyone starting an online business in Thailand.

Singapore

DMP

Another option if you are looking for investment to come from outside of Thailand, would be Singaporean based DMP Investments. Operating across South Asia, these Venture Capitalists have gained a strong reputation in the region.

A brief summary on the DMP website states “We are a venture capital firm focused on emerging markets that have recently joined the global digital transformation process. Specifically, we look at the development of the consumer internet and its supporting infrastructure.” With successful investments such as 2C2P, Grain, Medical Departures and Coda Pay to their name, DMP is the best choice for particularly unique ideas.

Set return and/or equity are negotiated with the company upon contact.

Expara

A second choice from Singapore Angel Investors would be Expara. Established in 2000. In their words “Expara provides both investment and services to the enterprise ecosystem.” This Business Angel Investor is favourable as its focus is less narrow than some of its competitors. Their investments are much more diverse. Furthermore, Expara is one of the few venture capitalist firms that also offer training and mentoring to its customers.

A final positive for those based in Thailand is that Expara has an office in Bangkok, whilst their CEO is a Visiting Professor in Entrepreneurship for the Sasin Graduate Institute of Business Administration at Chulalongkorn University in Bangkok. Suggesting a strong knowledge of the local economy.

EEUU

Startup Angels

The widely renowned, American based venture capitalist group Angel Investors have also recently ventured into Bangkok. They hope to “bring investors to new markets, across the US and around the globe” and are an excellent source for connecting would-be investors with new start-ups.

Thai Angel Investors and Venture Capitalists

If you are Thai and want to work with a compatriot, or if you would like an investor with more intimate knowledge of the local economy, there are an emerging group of successful Thai Angel Investment groups. Here we look at the best and analyze which would be best suited to particular markets.

Alpha Founders

Alpha Founders is a Thai Investment company using European funds to “address major local problems”. Based on the Rama 4 road in central Bangkok, their projects focus on mid-stage projects run by local entrepreneurs. Examples of their previous successes include; Rabbit InternetITM Technologies and the ecommerce Lazada.

Alpha Founders have also recently moved into Indonesia and early indications are that they plan to take some of their Thai companies over to the archipelago. Any business with global aspirations that is looking for an Angel Investor could certainly benefit from Alpha Founders’ aspirations.

Set return and/or equity are negotiated with the company upon contact.

The VC Group

The VC Group website mission states their aims as “to build products that make work and life more fulfilling and productive.” They aim to do this across four domains (TECH); technology, education, content and health.

Skills the VC Group specialize in include:

  • Embedded Systems
  • Cloud Computing Programmes
  • Application Development
  • Real Time Data Processing
  • Multimedia Streaming

A good example of these skills and arguably The VC Group’s most successful venture is Penta; a mother company encompassing a wide range of sub groups such as Penta TV, a Wi-Fi set-top box that consolidates live broadcast TV channels, online streaming content, and multimedia file playback into one single easy-to-use platform. Penta S (a.k.a. Penta Cloud Client) is a general-purpose platform that combines the capabilities of Android with the services of GNU/Linux into one single device.

The VC Group is based in Bangkok, Thailand and has offices along the city’s Skytrain route; between BTS Wongwian Yai and BTS Krun Thon Buri.

Investment return rates can be negotiated by emailing: contact@thevcgroup.com.

Ardent Capital / Wavemaker Partners

For those working in e-commerce the newly formed Ardent Capital / Wavemaker partnership is a great potential investor.

After a successful five years in which Ardent Capital generated over 3500 jobs in Southeast Asia, and built a portfolio of ecommerce companies worth over US$350M, in July 2016, the company merged its Venture fund into Wavemaker Partners.

Early indications are that this will not affect the successes of the company. Past successes such as HappyFresh (leading regional grocery delivery business), Snapcart (targeted shopper intelligence app), Goxip (fashion discovery platform and Floship (international fulfillment and logistics) are all continuing to operate viably.

For more information on Ardent Capitalists or if you are thinking about working with them, their website holds a fantastic catalogue of past presentations to help you gauge the company’s capabilities and their terms for investing.

MAP2 Ventures

Founded by University of Montreal graduate, Mario Hardy, MAP2 is one of the smaller Angel Investment groups on our list.

The company’s reputation lies with its founder, who describes himself as “a man of action and execution.” As they tend to invest in smaller projects than their competitors, MAP2 Ventures is good in that as well as providing seed capital, it also provides management advice, mentorship and access to a vast network built over a lifetime experience in corporate development.

MAP2 Ventures should be a prime choice for anyone seeking a more hands-on, personal relationship with their investor.

InVent by InTouch

InTouch are a well-established Thai firm operating in asset management, telecoms, media, IT and digital content. In 2012, they set up InTouch, a corporate venture capital project.

Now, InTouch is one of the largest Venture Capitalist firms in the country. Their annual fund size is upwards of seven million dollars and their minimum investment is $150,000, so they are only for serious, large-scale projects.

In order to receive funding, potential companies must pass a six-step process.
1. Screening
2. Due diligence
3. Term Sheet
4. Final due diligence
5. Agreement
6. Closing

The lengthy application process is worthwhile however. With access to over 40 million mobile subscribers in Thailand alone, a global network of companies and investors, plus many successful long-term partnerships they are undoubtedly one of the strongest players in the market.

Is using an Angel Investor a good idea in Thailand?

A 2012 study by William Scheela, Professor of Business Administration at Bemidji State University, Minnesota, USA, analyzed a sample group of 20 Thai Angel Investors. Its conclusion viewed their input as “active long-term investors as shown by significant time spent monitoring their investee companies, taking a board seat in most deals and aggressively removing top managers when warranted.”Such a description clearly indicates the potential seen already in the emerging marketplace.

Even as recently as May 2016, Thailand has had reason for optimism in its enterprising economy, as the Thai Government launched the ‘Startup Thailand 2016’ fair at the National Convention Centre in Bangkok.

Opened by General Prayut Chanocha, the event marks the start of a new government led incentive to create 10,000 start-ups in the country by 2018. This will be done using a new THB 20 billion ($574 million) government venture fund.

Ideas already attributed to this scheme include:

  • ABorrow an app that compares loan rates from across the web and high street.
  • Skootar, a messenger service aiming to cut through Bangkok’s traffic problems by charging full price for one-way trips, but half price for any item the messenger picks up early.
  • Drivebot, a downloadable app that delivers virtual maintenance reports of your car to your phone. It checks everything from the battery life to the levels of oil in the engine.
  • Santabox. Finally, this app asks people to fill in a questionnaire on consumer satisfaction. Samples are delivered to target groups allowing businesses to change their products to match their customer’s needs. Some of their surveys have been completed over 10,000 times.

It may be that success stories like that of Agoda have encouraged new waves of Angel Investors to come to Thailand, and, with their help, there are clear signs of progress in Thai enterprising.  The number of start-ups in Thailand is expected to increase even further over the next three years and angel investors will remain a prominent factor in their successes.

Top 10 Reasons To Start A Business In Thailand

In recent years more and more international companies have looked into opening a branch in Thailand, while independent traders and other business people have also decided to start a business in Thailand.

Here is an overview of some of the many factors that make Thailand the best country to start a business.

People who are planning to start a business in Asia will quickly discover that Thailand is one of the best countries in the whole of Asia to establish and business and make important connections.

Thailand is one of the original Tiger Economies and the nation experienced an impressive growth spurt in the early 1990s. Thailand is blessed with rich natural resources that include timber such as highly valuable teakwood, a wide range of different types of precious stones and fisheries.

The nation is one of the biggest rice exporters in the world, tourism, textiles, jewellery and electrical appliances are also major products. A magnificent sixty percent of Thailand’s GDP is made up of exports and different products that are made in Thailand are exported all over the world.

Now you will discover why start a business in Thailand is a good idea:

1. Working Hours and Wages in Thailand

One of the things that makes starting a business a viable option for international companies is the relatively low wages that have to be paid compared to in the Western world.

Naturally, the minimum daily wage varies according to skill and experience, although the starting salary for most labourers if around $8.5 a day.

The maximum number of work hours per day is eight, while employees are permitted to work up to 48 hours per week.

Employees are permitted to work more than this as long as they are fairly compensated for their extra time and overtime compensation is paid at a rate of between one and a half to three times the usual hourly rate. However, average companies operate on a 8 hrs, 5 Days a week schedules.

Employees who work in a company in Thailand are entitled to minimum thirteen national holidays each year as well as a minimum of six days of holiday or annual leave after one year of consecutive work.

Thirty annual paid sick days is standard for employees in Thailand and an employer may ask the employee to provide a doctor’s certificate for sick leave of three days or more. Female employees are entitled to ninety days of maternity leave, which includes 45 days of paid leave.

2. Thailand’s Population

There are more than 68 million people living in Thailand and the population is comprised of various different ethnic minorities including Indian, Cambodia, Lao and Chinese people.

One of the main advantages for people who want to start a business in Thailand is that these different minorities bring different skills into play and there are plenty of people with skills that are desirable among all different types of companies.
The population of Thailand represents 1.01 percent of the world´s total population which arguably means that one person in every 100 people on the planet is a resident of Thailand.

3. The Gateway to Asia

One of the best things about to start a business in Thailand is that Thailand has an strategic location and serves as a gateway into the heart of Asia, which is home to the largest growing economic market in the modern world.

Thailand also offers convenient trade with China, India and the countries of the newly formed Association of Southeast Asian Nations, which is commonly known as ASEAN. People who set up a company in Thailand will also have easy access to the Greater Mekong sub-region, where newly emerging markets offer great potential for doing business in Thailand.
Thailand was foresighted enough to be one of the founding members of ASEAN and has been active in the formation and development of the ASEAN Free Trade Area, which is commonly known as AFTA. AFTA entered into force on January 1st of 2010 for the six original ASEAN (ASEAN-6) members, which were comprised of Thailand, Singapore, Malaysia, Indonesia, Philippines and Brunei, thereby reducing the import duties that the country had to pay to zero.

Thailand is perfectly placed at the crossroads of Asia and offers easy access to the region’s dynamic markets, including its own booming domestic consumer market of more than 68 million people.

Thailand has long been an advocate of free and fair trade and it is very attractiveness as a production base for leading international companies that is enhanced by a number of free trade agreements.

At the start of 2016 it became clear that Thailand a major beneficiary of the ASEAN Economic Community, known as AEC for short, which has helped Thailand to gain an even stronger foothold on the business chain throughout Asia. Read more about the ASEAN Advantage

4. Business Language

Most of the major universities in Thailand teach business English, which makes finding Thai employees who have the skills to do business and communicate clearly in English relatively easy.

Chinese and Japanese are also taught in many schools, while the number of graduates who have at least a working understanding of German and French is rapidly increasing.

This makes doing business with other countries a lot easier and there is increasing demand for students to study business both in college and university.

Having said that, language barrier still prevails to a large extent. Apart from the upper mid-top management people, the rest of any organization speaks Thai language only, making it often difficult for foreign companies to interact freely.

However, consulting companies like Startup in Thailand assist in bridging this gap and provide 360 degree service support to foreigners so that they can be successful in Thailand.

5. Thailand’s Growing Economy

Economically, Thailand is characterized by steady growth, strong exports and a vibrant domestic consumer market. Abundant natural resources and a skilled and cost effective work force all help to attract foreign investors and enable them to prosper and develop industry in Thailand.
In addition to a growing highway system that now connects not only every province in Thailand, but also to the neighbouring nations of Laos, Cambodia, Malaysia, Burma and Vietnam, Thailand also offers:

  • Seven prominent international airports
  • Modern city wide mass transit in Bangkok
  • 4G/Wi-Fi and broadband access throughout the country
  • Six deep sea ports and two international river ports, including containers, tank farms and liquid jetties

Thailand’s development plans for the coming decade include a high speed rail network that will connect Bangkok with the north, south, east and west of Thailand, as well as to southern China.

The mass transit system in Bangkok has already been expanded far into the suburbs with more connections to other parts of the city in the pipeline and air and marine transportation will be further strengthened to meet the pace of growing demand.

6. FDI Policies in Thailand

Thailand’s well defined business investment policies focus on liberalization and encourages free trade throughout the nation and with other countries.

Foreign business investments in Thailand, especially those that contribute to the development of skills, technology and innovation are actively promoted by the government.

Thailand consistently ranks among the most attractive investment locations in the world in international surveys, and the World Bank’s Ease of Doing Business 2016 report places Thailand as the 49th easiest country in the world and the second ranked emerging economy in Southeast Asia in which to do business.

The United Nations Conference on Trade and development, which is commonly known as UNCTAD, ranks Thailand as the 8th most attractive host economy in the world for 2014-2016.

7. Government Support and Incentives for Foreign Investors

The Thailand Board of Investment (BOI) offers investors a wide range of different tax incentives as well as support services and import duty exemptions or reductions for activities that meet the national development objectives.

Companies that are able to receive investment promotion privileges from the Board of Investment(BOI) are not subject to foreign equity restrictions in the manufacturing sector and there are no local content requirements or export requirements due to the fact that Thailand’s investment regime is in complete compliance with WTO regulations.

The Board of Investment also coordinates the activity of the One Stop Service Centre for Visas and Work Permits, which makes it possible for foreign staff of BOI promoted companies to obtain work permits and long term visas within three hours or less.

In addition, administers the One Start One Stop Investment Centre are able to facilitate a full range of services and streamline investment procedures by bringing representatives from more than twenty different government agencies under one roof.

In addition to the activities of the BOI, other government organisations such as the Department of Export Promotion and international chambers of commerce provide people who are starting a business in Thailand with essential support and a whole host of other important services.

Investment Opportunities in Thailand and how to get a BOI company registered can be advised  by one of the leading BOI consultants, Startup in Thailand.

8. Long Established and Newly Emerging Industries

With a steady economic development and strong support industries, industrial production throughout Thailand has grown and diversified rapidly both in long established and newly emerging industries.

The government has identified a total of fifteen activities that are classified as activities of special importance and benefit to the country.

These activities are economic forest plantations with the exception of eucalyptus, creative product design and development centres, manufacture of airframes, airframe parts and major aircraft appliances, engines, aircraft parts, propellers and avionics, Electronic design, Software, Production of electricity or steam power from waste or refuse-derived fuel; Energy Service Companies commonly known as ESCO, industrial zones or technology industrial zones, Cloud services, Research and Development, Biotechnology, Engineering design, Scientific laboratories, Calibration services, Vocational training centers.

Projects that are founded around these activities will be granted corporate income tax exemption without being subject to a corporate income tax exemption cap.

9. Education and Healthcare Services

The education standards in Thailand are accepted by many international examining bodies and there are a large number of international schools and colleges in Thailand that offer world class education, while the leading universities in the country constantly rank among the best in Asia.

In terms of healthcare, Thailand has developed an excellent reputation globally due to its internationally certified doctors and medical staff, and modern facilities and equipment.

Most major cities and other prominent destinations in Thailand boast international hospitals where patients can receive Western style care for a fraction of Western prices.

In fact, one of the fastest rising tourism sectors in Thailand is medical tourism, with international patients visiting Thailand to take advantage of the nation’s world class and extremely affordable health care system. One of the reputed companies, Travel Motivations can help you to know more about the medical tourism and how they can assist you to provide a comprehensive medical package combining all logistics and medical support.

10. Strong Corporate Governance

Thailand is recognized as being a leader in corporate governance and is applying similar principles to the public sector in order to enhance transparency and accountability.

In the Asia Corporate Governance Association’s seventh joint report that was issued with CLSA on corporate governance in Asia, the in depth 200 page report ranks 11 Asian markets on macro CG quality and 944 companies on their internal governance systems. Thailand ranks fourth, which is an impressive achievement for a nation of its size and location.

Start a business in Thailand Infographic

reasons-start-a-business-in-thailand-infographic

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4 Extra Reasons Bonus

The Mercer 2015 Cost of Living Survey

The Mercer Human Resource Consulting Cost of Living Survey Worldwide Rankings 2015 showed that the city of Bangkok in Thailand received a ranking of number 45.

This indicates that Bangkok’s cost of living was significantly lower than Singapore, which is ranked as being the 4th most expensive city in the world, Hong Kong, which is ranked number 2, Beijing at number 7, Shanghai at number 6, Seoul at number 8 and a large number of other major cities in Asia.

Thailand is Highly Ranked by International Organisations

Every year, the World Bank conducts a study of the ease of doing business in various different countries around the world.

The World Bank produces an annual report that looks at domestic and medium sized enterprises and the quantitatively measures regulations that effect them, covering nine indicators for 189 economies.

Ease of Doing Business in 2016 ranked Thailand number 49 in the world, and number 2 among the emerging economies in East Asia.

For many years Thailand has been among the most successful countries in Asia for attracting Foreign Direct Investment, which is commonly known as FDI.

In the ever competitive investment environment that characterizes the 21st century, Thailand has continued to remain attractive to foreign investors.

For more than three decades, successive Thai governments have recognized that the private sector in Thailand has been the main facilitator of growth and the government has actively played a promoting and supporting role.

The Thai government has taken a consistently favorable stance towards foreign investors, recognizing their importance to Thailand’s economic and technological development.

In fact, government approval to invest in Thailand is not even needed unless the special incentives offered by the Board of Investment are being applied for and most sectors of the Thai economy are open to foreign investors.

The combination of factors and the continued efforts of government agencies to reduce so-called red-tape and facilitate investors has led to Thailand being among the highest ranked countries for FDI by independent observers, as well as by foreign investors.

In addition, in its 2014 World Investment Report, the United Nations Conference on Trade and Development, which is known as UNCTAD for short, ranked Thailand the 8th best FDI host economy in the world for 2014-2016

When the internationally respected Bloomberg News asked Multinational Companies (MNCs) to select the most promising emerging nations in which to invest in 2015, Thailand ranked as the 11th most promising emerging market for 2014-2016.

Thailand consistently ranks highly in the world for various elements of business and infrastructure in Thailand is recognized as being the world’s:

  • 31st biggest economy
  • 22nd biggest economy by purchasing power
  • 24th biggest exporter
  • 16th largest manufacturing output
  • 34th largest services output
  • 11th largest agriculture output
  • 25th largest industrial outputIn addition, in 2014, Thailand was recorded as being:
  • The world’s leading rice exporter in terms of quantity
  • The world’s second biggest pineapple exporter
  • The world’s second biggest sugar exporter
  • The world’s leading cassava exporter
  • The world’s leading rubber exporter
  • The world’s sixth largest rubber tires exports in terms of value
  • The world’s seventh largest computer device exports in terms of value
  • The world’s ninth largest computer accessories exports in terms of value
  • The world’s seventh largest motorcycle exports in terms of value
  • The world’s fifth largest truck exports in terms of value
  • The world’s largest producer of HDD

2015 Business Traveller Asia Pacific Awards

In its 2015 Business Traveler Asia Pacific Awards, the readers of Business Traveler ranked Bangkok the Best Leisure Destination in Asia-Pacific and the second highest ranking for Best Business City in Southeast Asia.

Key Advantages of Living and Working in Thailand at a Glance.

Many people who decide to start a company in Thailand do so because they are following their hearts and want to settle in this stunning country.

Here are some of the many things that make living in Thailand so special.

  • Impressive scenery including gorgeous tropical islands, jungles to explore and vibrant cities
  • Delicious cuisine
  • Vibrant nightlife scene
  • Excellent shopping opportunities
  • The famous Thai hospitality
  • Good infrastructure
  • Good access to talented Thai and foreign workers
  • Modern office spaces and equipment available
  • Excellent opportunities for connecting with local and foreign businesses
  • Great networking opportunities in various parts of the country
  • Excellent healthcare system and high quality of life

The Importance of Working with a Business Startup Consultant in Thailand

Foreigners who are planning to start a business in Thailand may find that there are several hurdles that need to be overcome before they are ready to start business.

These include the fact that obtaining a work permit in Thailand is far from easy and it is essential to pay for professional legal services to help cut through the red tape.

Many sectors are reserved for work by Thai nationals alone, so foreigners are restricted in the types of business they can run, so legal assistance can be sought on how to incorporate a business in Thailand.  A boutique business

Working with a professional, boutique business consulting company such as Startup in Thailand can help to smooth the way and the experts can help to define the things that need to be overcome and provide the knowledge and knowhow to make this much easier.

They are the only company in Thailand to provide a single window solution for all business startup and expansion requirements under one roof  : Startup | Market Entry | Legal | Serviced Office | Factory Setup | Representation | Recruitment |Accounting | Operations | Sourcing | Buying | Distribution | Marketing | Regional Business Development | Management

As Business Startup SpecialistAndy is often hired as a consultant by his clients for being their Man Friday in Thailand/Asia to assist Business Owners who need support to Startup, Build and Promote their businesses in the region.

Top 10 Business Opportunities in Thailand

Thailand is increasingly becoming an excellent place to do business due to a large number of factors such as the country’s relatively stable economy, Thailand’s location in the heart of Asia and the cheap cost of labour to name but a few.

There are plenty of solid business opportunities in Thailand to take advantage of both by people who are looking to expand their existing company in their home country into Asia and those who are planning to start an entirely new type of business in Thailand. Here is a selection of ten of the best business opportunities in Thailand for 2016.

Note: This Post was written in 2016 but it has been updated in 2017 including new details and we will add other business opportunities in Thailand for 2017 soon.

Import and Export CompanyImport-and-Export-Company-thailand2

Thailand is one of the main transportation hubs of Asia and the nation shares excellent transportation links with countries throughout the region via air, road, rail and sea. There are lots of great options for establishing a successful import and export business in Thailand and the route that you choose to take will depend on your personal experience, connections and preferences.

Many successful import and export companies in Thailand source products from their home countries that are difficult to find in Thailand such as brands of foods, drinks and other items and export them to Thailand. There are millions of expats currently living in different parts of Thailand and these products are highly sought after with expats and even local people, who are often being willing to pay much more for these products than they would in their own countries. Successful importers of these products are often able to establish strong connections with leading supermarket chains and other retailers so that these products can be stocked on their shelves to be available to the general public.

Exporting Thai products to other countries is also a great business opportunity. Again, it is important to thoroughly research the markets in the countries that you are interesting in exporting products to in order to discover which Thai products are difficult to find and are likely to be in high demand. Some popular types of Thai products that can be exported include Thai handicrafts, clothing by Thai designers and food and drink products.

Import and export companies in Thailand that are also able to create their own products are able to maximise their profits and ensure that they are offering something truly unique. The main key to success with this type of business in Thailand is doing a lot of research to establish the best products to offer and establishing good transportation connections to minimise import and export costs. As a

As a buying agent in Thailand, Startup in Thailand offer a procurement & operation team with  a dedicated Thai person to help to start or continue your company without difficulties. 

Translation Services BusinessTranslation-Services-Business-thailand2

The large number of foreigners and international traders doing business in Thailand leads to the ever increasing need for translation services. Both individuals and companies consistently need to have important documents such as contracts and other types of legal documents translated from their own language into Thai and vice versa, this situation can provide good business opportunities in Thailand.

Although English is the main language for conducting Business throughout the world, generally speaking, the level of English comprehension in Thailand is much lower than in other parts of the world. Therefore, most Thai companies require either an in house translator or have to regularly outsource translation work to a translation agency. Now that Thailand is part of

Now that Thailand is part of ASEAN, there is also an increasing need for Thai companies to also translate documents into other Asian languages such as Chinese, Japanese and Korean so that they can do business with companies in these countries.

Setting up a translation company is relatively easy and can be a very lucrative business opportunity in Thailand once you have established a talented team of translators, editors and marketers.

Translators and editors can work for a fixed salary as part of the company, although when you are first starting out and trying to expand your client list it is probably best to mainly use freelancers who work for a set rate per source work rather than a set salary per month.

Despite the potential to make series money in the field of translation, there are surprisingly few high profile translation companies currently doing business in Thailand. In addition, even the leading translation companies only tend to offer a limited number of languages. Therefore, newly established translation companies that are able to market themselves well, offer good rates for their services and establish and large and talented team of translators and editors in a wide range of language are almost guaranteed to succeed.

Create a Catering Companycatering-company-thailand

Eating and socialising while dining have long been important parts of the Thai culture and most important business opportunities and decisions in Thailand are conducted while dining, while this is also a very popular way for family members and friends to get together. However, many modern Thai people find that that they no longer have time for cooking large meals to entertain guests and many people tend to eat most of their meals outside of the home. This is especially true in large cities such as Bangkok and Chiang Mai where many people work long hours and live in modern apartments that have limited cooking options.

Therefore, catering companies are becoming increasingly popular in Thailand, both among middle and upper class Thai people and expats. Catering companies are hired to provide catering for a wide range of different types of events such as wedding receptions, birthday parties, anniversary dinners and retirement parties and many corporations that hire catering companies have large budgets at their disposal.

Private catering has also become extremely popular in recent years and many people call catering companies to provide dinner for themselves and their family at the end of the day.

Thailand boasts a large pool of talented chefs and party planners as well as people who are experienced in all aspects of the hospitality industry. This makes it easy for catering companies that are setting up to gather a team of staff that has what it takes to create delicious and imaginative menus that are sure to tempt hungry customers.

Thanks to the large number of companies that important Western food and other products, finding the ingredients that is needed to put together dishes from all around the world is also very easy and due a large number of expats in Thailand, catering companies that offer international menus are sure to do well.

Web Design Businesswebsite-design-business-thailand

Thailand businesses are becoming increasingly aware of the need to market themselves online in order to contend in the very competitive business world. More and more Thai companies are turning to professional web design companies that can provide the full package of web design, leads generation and marketing services in order to attract new customers and keep the attention of their existing customers.

There are lots of different elements involved in web design depending on the specific needs of the client and they can also include designing the company’s logo, web management and helping to increase traffic to the website with SEO (Search Engine Optimization).

People who have a solid background in web design will find that this is a very good opportunity to start a lucrative business in Thailand and the costs of setting up this type of company in Thailand are relatively low.

Real Estate Companyreal-estate-business-thailand

Buying and selling land is a big business in Thailand and the cost of real estate throughout the country is constantly rising and can provide great business opportunities. Foreigners who wish to purchase a business, a property or a piece of land often find that the process is rather long and complicated. For this reason, they often turn to a real estate agent, who will take care of the purchase for them for a fee.

People who are interested in establishing a real estate business in Thailand will find that there are plenty of great opportunities in all parts of the country and lots of money to be made. The secret to success is hiring a competent Thai team who can liaise with Thai owners and help to make sure that every aspect of the sale goes smoothly.

Both Thai and foreigner owners who wish to sell their real estate also often make use of a real estate agent to help find the buyer for them and in exchange for this service they will pay a commission. This commission is usually ten percent of the asking price and in the case of large resorts and hotels that sell for millions of Baht, the commissions can be extremely high.

The main task of the real estate agent is advertising properties to put them in the best possible light, meeting with potential buyers and showing them the properties. People who have a strong background in sales and marketing combined with plenty of energy and the drive to make money are likely to find that they thrive in this type of business in Thailand.

Healthcare Services BusinessHealthcare-services-company-thailand

There is a booming demand for first rate medical care in Thailand among Thai people, expats and people who travel to Thailand for business and pleasure. Thailand has established itself as one of the best countries in Asia for professional healthcare and there are no shortage of trained physicians, pharmacists, surgeons and nurses to be found. However, with its booming population and rising demands regarding the standards of healthcare in Thailand, there is plenty of business opportunities in the Thai market for more healthcare services.

Medical tourism is also a big business opportunity in Thailand and many people travel from countries such as the USA or Australia where the cost of procedures is high to take advantage of the relatively low costs in Thailand. Some of the types of medical procedures that are particularly popular among medical tourists include dental surgery, cosmetic surgery and breast augmentation.

Companies that are able to appeal to international clients and provide fully tailor made packages that include excellent aftercare services are sure to find that this is a very lucrative business in Thailand for foreigners and Thai nationals.

Opening a Resortopen-a-resort-thailand

Thailand has long been one of the world’s most popular holiday destinations and millions of people travel to Thailand from all over the world each and every year. Although the image of Thailand was once as a budget destination that was popular with backpackers and other types of shoestring travellers, the country’s booming economy and rapidly increasing infrastructure. Thats mean that these days Thailand is becoming more and more popular among more affluent travellers who demand nothing but the best when they are away from home while they are doing business in Thailand.

This means that Thailand is a great place to open a luxury resort. There are still many enchanting islands in Thailand where prime pieces of beachfront real estate are available to purchase and companies that have connections with major hotel chains in their own country will have the opportunity to establish either a branch of the hotel in Thailand or set up an entirely new branch.

Because hospitality is a major industry in Thailand, finding fully trained and qualified staff in Thailand is relatively easy, while international companies also have the option to transfer various existing staff members from their own country to oversee the running and marketing of the resort.

With good branding, marketing and quality services, it is possible for a company that decides to open a resort in Thailand to enjoy substantial profits and the abundant sunshine and gorgeous scenery in Thailand mean that tourists visit the country all year round.

Travel and Tour Companiestravel-tour-business-thailand

Many tourists who travel to Thailand arrange package tours in their own country and in recent years that has been a surge of international companies opening branches in Thailand so that they can serve their customers on both sides of the world. While there are many Thai companies that offer travel and tour services in Thailand, one of the main advantages for international companies is that they are able to offer services that cater to the unique needs of their international clients, including guided tours in their language of choice.

In the last few years there has been a dramatic rise in the number of Russian and Chinese travellers coming to Thailand and tourists from these countries tend to have much more money to spend than Thai tourists and prefer travel packages where all of the details are taken care of for them.

International companies that are able to establish strong business connections with the travel industry in Thailand will be able to offer their clients the best rates around combined with a first rate service that is sure to meet their high demands.

Automobile Rental Businesscar-rental-business-thailand

Despite the large numbers of people who travel to Thailand each year both for business and pleasure, there are relatively few vehicle rental companies to choose from and this presents a real gap in the market that is just waiting to be filled by a company that is searching for a business opportunity in Thailand. Purchasing both new and second hand vehicles in Thailand is relatively easy as major car dealerships can be found throughout the country.

Automobile rental companies in Thailand will find that there are plenty of prominent places for them to set up hire booths such as at the country’s major airports, at train stations and even at some of the country’s leading hotels.

There is a lot of scope to develop this type of business in Thailand and even establish connections with international companies in their own country. Travellers who are given the option to book their vehicle online in advance and collect it when they arrive in Thailand will feel secure that all of their travel details have been taken care of in advance and they will be saved the hassle of sorting out transportation when they land in Thailand.

Another good opportunity for companies who are interested in establishing automobile rental in Thailand is to offer vehicle rental with a driver. This is ideal for travellers who want to explore the country at their own pace without having to make use of public transportation but do not have an international driver’s licence or want to save themselves to hassle of having to drive while on holiday.

Supplying a professional driver along with the vehicle diminishes the risks involved for automobile rental companies as they can be sure that they vehicles will be in safe hands. this type of service can also be useful for short trips such as sightseeing around cities or taking local people to parties and other types of events where they need to arrive in style.

Jewellery Design FirmJewellery-Design-Firm-thailand

Silver and semi-precious stones are readily available in Thailand and the costs for these materials tend to be much cheaper than in many other countries around the world. There are lots of flourishing silver mines in the north of Thailand, while gemstones are typically mined in the west of the country, especially close to the Burmese border.

The relatively low cost of raw materials combined with the high demand for unique and attractive jewellery both among Thai people and Westerners makes establishing a jewellery company in Thailand an excellent opportunity to start a Business in Thailand. The nation boasts a large number of talented artisans who are able to create intricate pieces of jewellery both on a wholesale basis and according to the specifications of individual clients.

In the last few years a small number of international companies have established their own companies that source designs from their own country and market them in Thailand. One of the main advantages of doing this is that the cost of labour and setting up a workshop in Thailand tend to be much cheaper than in Western countries, while clients in Thailand are also given the choice of designs that they may not be able to find anywhere else in Thailand.

Successful jewellery companies that manage to establish themselves in Thailand also have the option of moving into the import and export business so that they can send their unique pieces of jewellery such as rings, bracelets, earrings and watches to major suppliers that are located in their home country as well as other countries around the world.

Of course, when establishing a new company in Thailand there are a lot of different things to take into consideration, not least of all any legal issues that may arise as well as hidden problems that might be difficult to identify straight away. For this reason, it is essential to enlist the services of a business consultancy company such as Start Up in Thailand.

We provide you with professional advice on a wide range of aspects such as the types of visas and work permits that you need for yourself and your staff, business opportunities and important resources, while we also provide legal advice and business development to help you new business grow and thrive.

How important is online reputation in modern business

Once upon a time, back in those days when there was no usage of internet or in other words when the internet was not invented, managing the business was pretty much easier. It was far easier because all you need to do is to provide your consumers good quality of services. Keep them happy with your quality of work and encourage referrals by word of mouth. In most of the rare cases, those time businessmen used to face problems and if they had, it was solved within fraction of seconds with face to face conversation with the consumers. It never took that long or harder way to keep the consumers happy and smiling.

But now scenario got fully changed after the invention of internet. In this fast paced world, following old as well   as traditional methods would not be enough. In this modern age of social networking where various websites and other instant methods of communication have taken place in the life of people, business Thailand must be ultra-careful of maintaining their reputation whether it is online or offline.

A businessman need to very cautious to maintain its good reputation in the eyes of people. Reputation is an intangible asset which cannot be touched but can be felt among the people. It takes long-long years to build a company’s reputation but takes just a few seconds to break it. The reputation of a business is essential for the growth and the survival of the company.

A negative reputation can affect the sales rate of the company and lead to loss of the company. A good online reputation is utmost importance for a business. Due to all technological advancements, people have become extremely net savvy and whenever they need any information about any professional outfit, they always sift through the online reviews. Infact good or bad online reputation can make or break any organization. Some of the importance of online reputation has been discussed below.

1. Helps to increase in sales

Now a day’s most of consumers make purchase after doing research   of brands, products or services before they think of making a final decision for purchase. In order to     increase the sales, a company in Thailand, must ensure to have an account in social media. A company must also ensure to update information about the related product or services they are   offering to consumers and post it to social media, so that the existing consumers get a glance and stay updated by following the post. A company must try to post regularly to grab    the attention of the new consumers. Personal interaction of the consumers may lead to boost sales of the products. A personal interaction with the consumer on social media help the    company to understand the need and their want for the product and the changes they need to made with the help of the feedback.

2. Attracting new consumers

The internet also plays a key role in propagating the word of mouth publicity. If consumers find good reviews of about certain product or services, we human Beings have the tendency     to check it out and spread positive word of mouth publicity if we like it. By spreading good reviews on social media, it would help to attract the attention of the new consumers. In other words, it would be indirect marketing for the company which adds to the credibility of the company.

3 Online insights

Internet is a biggest source of information and reliability or the trustworthiness factor of any outfit is also easy to check.Alongwith the positive feedbacks, it is also very common to see    negative feedback on business social media pages. If the problems are not being addressed properly by the company, then a negative comment or a review could be the reason of downfall   of the business or result in the failure of the business. A negative feedback on social media spreads like wildfire. So establishing an online presence of your company would help to     gain a valuable insight into what your clients or competitors are saying about you and your comany.If something goes wrong, your company can take an action for solution before    it spreads on social media

4. Helps in the expansion of the business

As the internet is used worldwide, a good online reputation also helps a company to expand its boundaries and reach out to people from different nooks and corners which in turn    helps in expanding the customer base of the company.

5. Gaining trust and credibility

“Trust and credibilty”are most two important and crucial factors that can either make or break your business online reputation. If you can deliver as per the consumer     expectations, there might be good chances they will spread the word about their experiences and that would help to build the credibility of your Thai business. Try to make an effort to       earn the trust of the consumers that would help you create strong brand image and at same time would attract more and more potential consumers for years to come

6. Show your best side

Potential clients always do their research on the basis of online information before of thinking doing business with any respective company. It is not possible to get an idea about    the company they planning do business with. Online presence helps your client to judge your business on the basis of the information available to them. Whatever    product or services you offer to consumers, the reviews or the feedbacks given by the consumers appears online and it may remain visible for longer time. A better reputation     offers company to come in main lime light to attract more customers which may result in increased revenue. So showing best side of your company always help to gain more consumers     more popularity and earning more goodwill. Always try to remember that it only takes few seconds to destroy brand’s online reputation that took years to build it.

As Startup Specialists we have used our knowledge and experience to set up a free portal of frank, accurate information. Do check out www.startupinthailand.com for more details on doing business in Thailand /Asia or for a free startup consultation.

Aditya Interactive is the only company in Thailand to provide a single window solution for all business startup and expansion requirements under one roof : Startup consulting | Market Entry | Legal | Serviced Office | Factory Setup | Representation | Recruitment |Accounting | Operations | Sourcing | Buying | Distribution | Marketing | Regional Business Development | Management.

Check out our Thailand Market Entry Services  and your business expansion options here.

Be equipped for doing business in Asia. Download our FREE e-Book on How to do Business in Asia

How Essential Is Blogging In Business

In today’s world presentation as well as marketing is considered to be very important part of any business strategy. Whether it is a presentation of a project or presenting oneself, it is always been noticed by people and it does make a huge impact on the entire thing. So in order to make your business Thailand aware among the common people, blog is an excellent piece of medium which can be utilized to promote your own company. Whether you are running a small business or an established business, blogging is considered to be worth and wonderful platform to reach your business to the mass.

Blogging was initially used as platform to share a person’s thoughts, feelings, opinions or experiences. But today it has grown into a huge platform which is being used by millions. Social media is a fantastic tool for marketing and thus blogging is very popular in business world. Today many people use blog for news update, for guidance and some for general help day to day activities. It has become source of information that not only offer standard tasks but also for high complex issue.

In fact blogging has become a very vital part for any business strategy for every marketers and entrepreneurs in order to boost their business growth. Blog adds value to the company websites by providing useful information to their potential consumers. The beauty of blog is that anyone from a school kid to a billionaire of a multinational company can express their ideas, thoughts and views in order to make the world a better and beautiful place and for this you need the help of blog to draw the attention of the audience.

Therefore a blog can make lot of difference to the company’s outlook and provide lots of advantages for the growth of the company which have been discussed below.

1. Helps to boost Search Engine Optimization (SEO)

Blogging is considered to be one of the greatest consumer tools in Thai business. Search engines love fresh topics and contents. By providing frequent content to the company sites   it attracts lot of traffic to the site of the company. It helps to create advertising revenue, promote services and generate sales. All these aspects have led to growing importance of blogs as a business tool. The visibility or the exposure of the blog is increased by the traffic blog gets. Once the blog secure a high ranking position, then there would be higher chances   for the entrepreneur to experience high traffic to his own website, hence he or she may get target traffic.

 2. Develop relation with potential customers

Blogging gives a better scope as well as source to deepen the connection with your respective consumers. It gives a fantastic platform to connect with your customer directly on his    or her website. By going through your blog, consumers get to know about your business or the product that trying to promote it. In other words it gives an idea to the consumer about   your business. The plus point of blogging is it builds trust among the consumer by being the source of information to them. Now-a-days consumers love to keep themselves up to date    and informed about the surrounding. Thus your blog helps the consumer to keep themselves well informed. Even at the end of the blog you can interact with your potential consumer   by asking feedbacks or their opinions. The feedbacks may help to grow the business in a better way.

3. Connect people to your brand

Blog makes the people aware of the business you doing or the product you trying to promote. Blog posting to your sites gives a chance to show the personal side of your business.   It provides the consumer to connect to the brand of the product that an entrepreneur is dealing with. In this way it would be possible to express your brand identity with help of various blogs. It also educates the potential customer about any existing product or a new one. It helps consumers choose one brand over other since by reading blogs he knows the pros and cons of the products.

4. Create opportunities to share with others

Once the blog get posted on your website, you are creating an opportunity for your audience to share your blogs with their friends and loved ones. Whether they share the link, or post    the blog or tweet it or email it to their loved ones, it is one kind of free marketing which the consumers are doing on your behalf and thus it validates your credible business

5. Add value to your website

Team members of the company in Thailand would get an opportunity to write blogs on various topics relating to your industry. It would give scope to the readers on what’s new about your industry and it would keep the readers up to date with their various fresh and new blogs. Variety in topics and fascinating facts always keeps the consumer interested in your website. This enriches the content of the website and helps attract new consumers too.

6. Build trust

People are not very convinced about the strangers they meet on streets. Similarly on net also they are not able to trust. A blog with consistent, truthful and helpful content would allow building the trust between your company and the consumers. The promises made in the blogs help create confidence in the consumers. This also makes them believe that the product is going to meet their expectations which in turn helps them choose a particular product.

7. Attract new consumers

Online presence of your blog and doing promotion of your company, gives an opportunity and chance to reach to new customers. Providing informative blog attracts new consumers to their sites and makes the present customers loyal to their sites. New consumers are more likely to search products online in the era of internet savvy consumers. The likeliness of consumers hit a product and learn about it is very high if there are sufficient number of blogs online.

8. Increase the sale of the product

Now-a-days people have got less time to look for the products from one shop to another shop. While people think of making online purchase, blogs plays very crucial role. Blogs   provide you the fresh updates and informs you about the product and services that are being offered by the company. On the basis of blog, people make a decision and that leads   to increase the sale of the products for their company

As Startup Specialists we have used our knowledge and experience to set up a free portal of frank, accurate information. Do check out www.startupinthailand.com for more details on doing business in Thailand /Asia or for a free startup consultation.

Aditya Interactive is the only company in Thailand to provide a single window solution for all business startup and expansion requirements under one roof : Startup consulting | Market Entry | Legal | Serviced Office | Factory Setup | Representation | Recruitment |Accounting | Operations | Sourcing | Buying | Distribution | Marketing | Regional Business Development | Management.

Check out our Thailand Market Entry Services  and your business expansion options here.

Be equipped for doing business in Asia. Download our FREE e-Book on How to do Business in Asia

How To Mix Pleasure With Business

In today’s world, it is been observed that there is a cut throat competition in each and every field and aspect of life. Whether it is job or a business in Thailand, people go through lot of stress phase in life due to the pressure of deadlines, target, and demands etc. So in order to ease the life and to get rid of stressful life, it is sometimes good to mix pleasure with business.

It is been noticed that there is a standing rule of not mixing both the fields at same time. Business is business and pleasure is pleasure and both should be kept separate. It is been an old norm that mixing both can lead to failure of the business or may result in loss. There goes the saying that ”All work and no play make jack a dull boy”.

Today, times have changed and even the perception and thought process of people have gone through a lot of changes. In the past, fun or pleasure was looked at frivolous from the employer’s level. But with increasing pressure and stress level, may be pleasure is not seen unacceptable. But to build up good rapport and relationship with their respective employees, it is required to mix pleasure with business.

Basically there is nothing wrong to mix pleasure with business Instead, it reduces the stress level which gets piled up due to the constant pressure and it may result that an individual would be able to focus on his or her work and it would be easy for the organization to reach the goal. Some of the important points have been discussed below.

1. Organize the events outside the office

With the increasing stress level, it sometimes becomes difficult to cope up with the relationships existing in an office environment. One of the simplest ways to start fostering better   relationships is to organize small-small events for the employees just like happy hour which provides employees a platform and a scope to socialize freely with each other. Employees feel more comfortable to socialize and which in turn result in developing good communication. There is one another way to foster communication is to arrange activities that enable the employees to share their interest, their thoughts or their opinions can boost up the interaction level and at same time can ease their stress level.

2. Take an extra day for yourself

Sometimes it becomes hectic and stressful for those people who are always part of business travel is the feeling of making a rush from one meeting to another meeting. This makes the tour pretty boring as well as tiring. People hardly get any time for themselves because they always have to make a move for meetings scheduled in different places. Just to reduce the pressure, if he or she can convince their company to add an extra day to their travel tour list. Keeping a day for herself or himself would give a person to do things on which he or she would be interested on reaching to that destination. It would be an added bonus to this to the hectic schedule which can reduce the stress level of the respective employee by adding bit pleasure to their travel trip.

3. Taking advantage of fitness facilities

Sometimes a company in business Thailand tour can be so hectic and stressful and nothing can beat the stress of life by adding workout to your stressful routine. Workout always reduces the stress level; try to keep the body and mind healthy as well as fit. So try to check out the fitness facilities if it is provided in the company or while making a travel trip also you can check the facilities that are being added to your accommodation. Sometimes touch of workout can make lot of difference in day today hectic working life

4. Encourage friendly competition

One more easiest and cost free way to add little bit of excitement and pleasure in workplace is to create an internal competition among the employees. This internal competition      would not only focus employee’s interest but would also promote collaboration among them. Sometimes organizing a competition within the organization not only develop a good and healthy relationship but also provide the employer innovative ideas for their business product. So fun and work together can create a great impact on the business

5. Remember to do something that makes you happy

In today’s busiest life, stress is taking a toll on our health. So in order to not get affected by stress, we should remember one thing to do that makes an individual happy from inside.  For example talking to your family member everyday while you are away for business trip or taking your family along with you in your business trip or doing some shopping for yourself all the small increments that you indulge to do for yourself would pay off in better way.

But one thing should be kept in mind while mixing pleasure with Thai business that everything should be done on a limit basis. It should not be overdone. Keeping that in mind it is possible add pleasure with business in order to get both things at same time, that is result cum reduction of stress

6. Vacation helps rejuvenate

Vacation is meant to be a time of respite during which you can rest and recharge – but for some, taking a break from work can be more stressful and arduous that going in to the office. Planning a vacation, even a short one, allows an individual to unplug from the many different ways we are connected to our jobs. This always-connected mentality fuels three of the top five stressors, because we never give ourselves the opportunity to set things down and let our minds think of something else.

Stepping away for a vacation, even if only for a weekend, takes us out of the surroundings that perpetuate our need to engage in activities that cause stress. Add to this the fact that a vacation spent with family or friends fosters stronger relationships, and you have a stress-relief technique that effectively addresses most of the causes.

As Startup Specialists we have used our knowledge and experience to set up a free portal of frank, accurate information. Do check out www.startupinthailand.com for more details on doing business in Thailand /Asia or for a free startup consultation.

Aditya Interactive is the only company in Thailand to provide a single window solution for all business startup and expansion requirements under one roof : Startup consulting | Market Entry | Legal | Serviced Office | Factory Setup | Representation | Recruitment |Accounting | Operations | Sourcing | Buying | Distribution | Marketing | Regional Business Development | Management.

Check out our Thailand Market Entry Services  and your business expansion options here.

Be equipped for doing business in Asia. Download our FREE e-Book on How to do Business in Asia

Why location is important for any start-up business

Location plays an important and significant role for the business in Thailand that involves selling of goods and services directly to their consumers. An entrepreneur has many more concerns like staffing, funding, marketing strategy and availability of the product or services. But before initiating this process, location needs to be selected. Choosing a location for a new venture is one of the toughest and crucial decisions for an entrepreneur to make during the planning phase of launching a venture.

A location can make the business or can break the business. Your business location is the key to successful operation and also responsible for the overall growth of the business. Choosing a bad location for a new venture may result in failure of the business. Locations may vary depending on the kind of business the person has chosen to do. A variety of features would affect the suitability of the business. Hence, the following points are important or required before deciding location for a business that may contribute to success of the business in the near future.

1. Consumer convenience

Customers are considered to be king of the company in Thailand. The location should be located in such a place where it would be easy to draw more and more consumers. In other words the site must be convenient for the consumers to make a visit to the place. For example if the location is too far away or out of reach of the consumer, then the customer would not be able to make frequent visits to the store. Hence, it should be easily accessible which gives a feeling of safety to the consumer while making a visit to the place.

2. Operational and equipment spaces

Requirement of the space may depend on the kind of business a person is planning to do. Therefore the requirement may vary from person to person. Therefore the location chosen for the business must have ample space for the equipment required for producing their product and services. For example, for a manufacturing company, it requires extensive space   in order to keep their products and inventory. So product and services must be kept in mind while choosing location for their business.

3. Operational expenses

Selection of location for a Thai business can influence the total cost of operation. Renting may vary from one location to another location. So an entrepreneur must be very careful while choosing the location for its business depending on their budget. For example a person renting a storefront in a popular or highly trafficked mall is likely to get more expensive as    compared to opening a store in less commercial residential areas. Depending on the size of the pocket of an entrepreneur and the kind of business getting involved, a location must be    selected or chosen.

4. Parking space

Facilities and safety must be kept in mind while choosing a location. Ample of parking space is needed for customers as well as for their employees. If enough parking spacesare   not available or if it gets tough for the consumer to look for parking space, they may choose to visit your competitor who offers the same qualified services with convenient amount of parking space. Location of the business site must have enough space to facilitate their consumer and employees for parking near the location

5. Service and sales

Location has got a huge impact on services and sale of business. In other words business sales and services opportunities are greatly affected by the chosen location. Yourselected locationshould be able to focus on the target consumer and at the same time able to generate walk-in-traffic.

6. Taxes and regulation

The selected location of a business in Thailand also determines the state and the local taxes that the owner of company needs to pay and the regulations they need to follow. So the owner must    be careful while selecting the location because the state tax and income tax may vary from place to place which can have significant impact on the earning of the business owner.

As Startup Specialists we have used our knowledge and experience to set up a free portal of frank, accurate information. Do check out www.startupinthailand.com for more details on doing business in Thailand /Asia or for a free startup consultation.

Aditya Interactive is the only company in Thailand to provide a single window solution for all business startup and expansion requirements under one roof : Startup consulting | Market Entry | Legal | Serviced Office | Factory Setup | Representation | Recruitment |Accounting | Operations | Sourcing | Buying | Distribution | Marketing | Regional Business Development | Management.

Check out our Thailand Market Entry Services  and your business expansion options here.

Be equipped for doing business in Asia. Download our FREE e-Book on How to do Business in Asia

Why Thailand Is A Good Business Destination

Thailand is known as the land of smiles and is situated or located in South East Asia. Thailand is known for its exquisite beauty, beautiful beaches, historical treasures and friendly people.

Thailand’s economic condition is fully dependent on its tourist industry. People around the world come to visit this exotic place in order to enjoy the breath taking natural beauty, idyllic beaches and experience its beautiful culture. It enjoys a strategic location and serves as a gateway into the heart of Asia and it is a home to the largest growing   economic market today.

The incredible natural beauty, mouth watering cuisine, tropical climate and relaxed lifestyle are the major reasons that attract lot of people to start a new venture in Thailand. This place offers foreign investor’s lot of benefits to make it one of the region’s most attractive investment destination.It you are planning to set up business in Thailand, and then it offers lot of advantages and opportunities. The advantages which are being offered by this place are being listed below.

1. Easiness of application procedure

Thailand is being reported as the 17th easiest place for doing business in the entire world. Starting a business in Thailand would be the best and smartest decision to do it for the people who are planning to set up a business. The easiness covers from the bureaucratic procedures to the application cost involved.

2. Open and welcoming economy

Doing business in Thailand, especially the Thai business community always loves to welcome foreign investments and companies who have a desire to establish companies in this country. Readymade infrastructure as well as system would be found by the organization for doing business in Thailand in order to run their operation successfully.

3. Reasonable taxation

Another one more advantage for the people is the reasonable corporate tax which people need to pay to the Thai goverement.It may range from 30% to 10% depending on the amount   of the profit made by the company.

4. Thriving tourism industry

Thailand is known for its exotic natural beauty and beautiful beaches. It is being considered one of the most visited countries in the world.It would create great scope and advantage for the owners to meet their potential consumers. People from the round the world make a visit to this place that in turn create an opportunity for the Thai business owners to meet   and get to know their potential customers who might be interested in their business. If you are planning to set up right type of business, then it would be possible to earn right amount of profit.

5. Affordable business cost

The business cost that includes office rental space is one of the problemsfaced by the owners of the company. InThailand the rental cost is definitely affordable as well as reasonable as compared to other countries.

6. Skilled and well-educated workforce

Well educated and well skilled working environment always adds on growth and success of the business. A growing number of Thai citizens are well educated and qualfied.If you are planning to hire local staff for your company, you will not face any difficulty in finding competent and qualified people in the country. Even majority of Thai locals would be able to   communicate properly in English, with large number being fluent. If you need to contract foreigner workers read this article about work permit in Thailand

7. Friendly and rich culture

Thailand is a place which is known for its friendly people, natural beauty and world class cuisine. This place has gained a well deserved reputation throughout the world for its kind and pleasant hospitality. The friendliness of Thai people and diverse Thai culture make the visitors feel safe and make them feel like home.

8. Sufficient infrastructure

In order to run business successfully, a proper infrastructure is required. Businessin Thailand has got good infrastructure with modernized transportation facilties.Even it has got   upgraded communication facility as well as IT networks which ensure optimum business and living condition.

9. Convenient regional transportation

Thailand is popularly known to be the hub for transportation not just nationally but also throughout south-east Asian region. The convenience would be more improved as more  investment would be given importance for transportation and that may lead to the growth of the business.

10. Ease of Internet connectivity

The Thais like to get online and over the past few years, there has been a real heave in mobile and internet connectivity. The wired network in Thailand is pretty easy to get online even in smaller towns. The wireless network, on the other hand, has seen a real surge in popularity and implementation however is much easier to put the infrastructure in place.

11. Thailand is safe

Everyone has seen the Red Shirt demonstrations and pictures of Thailand submerged beneath a meter of water, but the reality is that Thailand is actually quite a safe country in many respects. The Thais are (for the most part) very easy-going and a lot of what you see in the West is hyped-up for the media. So the operation of any business is hassle free and without any trouble.

As Startup Specialists we have used our knowledge and experience to set up a free portal of frank, accurate information. Do check out www.startupinthailand.com for more details on doing business in Thailand /Asia or for a free startup consultation.

Aditya Interactive is the only company in Thailand to provide a single window solution for all business startup and expansion requirements under one roof : Startup consulting | Market Entry | Legal | Serviced Office | Factory Setup | Representation | Recruitment |Accounting | Operations | Sourcing | Buying | Distribution | Marketing | Regional Business Development | Management.

Check out our Thailand Market Entry Services  and your business expansion options here.

Be equipped for doing business in Asia. Download our FREE e-Book on How to do Business in Asia

Is marketing really needed for a startup company ?

Marketing refers to the action of business of promoting and selling products or services, including market research and advertising. Today most of the investors are not interested in funding the startup companies because they have no idea or not aware about how, where and to whom they should sell their products and services. Startup companies require a good marketing plan in order to promote their products and services. In other words we can say marketing tells or inform the people about the product, services and about the company early and often.

Early marketing strategies helps to focus their attention on creating awareness as well as helps to generate lead. Creating awareness of the product and the company before, during and after development process ensures the sales and revenue plans can be attained. Once the product of the company gets promoted and people become aware of its utilization, then people will buy those products which are familiar to them. These relationships and leads enable the sales team to make the deals and capture the revenue after the product is available.

The marketing plan like every business plan is based on assumptions. Reaching out to customer is vital because startup companies need to prove or disprove customer assumptions as soon as possible. Before jumping into full blown product development and marketing effort. Now we can say the heart of your business lies in marketing. Most aspects of business depend on successful marketing. The overall marketing concept covers advertising, public relations, promotion and sales. It is a process by which a product or services get introduced and promoted to potential consumers. Without marketing, none of the potential customer would come to know about the products or services offered by your company and sales may crash and companies may have to close. Some of the importance of marketing for a business is being discussed below.

1. Getting recognition

For a business to succeed in this competitive market, the product or services offered by the company must be known to potential buyers. In order to make the business known to community and have communication with the consumer readily available, the company have to utilize marketing strategies to create awareness about the product and services among the customers. Without marketing, your potential customer will not be aware or informed about the product or services offered by your company and this may result that your business may lose the opportunity to progress and succeed. Using marketing plan to promote the product, service and company provides your business with a chance of being discovered by prospective customers.

2. Higher sales

Main motive or purpose of marketing in any business is to help to generate more sales. In order to create awareness among the people, the company needs to advertise and promote their product so that people get to know about it. As awareness becomes a reality, It is also a point where new consumers will start spreading, telling their families and friends about the product they discovered.
Your sales will steadily increase as the word spread. Thatís the reason business owner invest in marketing. Marketing strategies is being used to create awareness. In the absence of marketing strategies, these sales may not have ever happened and without sales a company cannot succeed.

3. Maintain reputation

The success of any business depends on its reputation. In order to have good reputation marketing plays an important role by building a brand’s name in the market. It takes years for a company to build up its reputation. And in order to maintain or retain that same reputation, marketing strategies should be used. Many big-big companies spend thousands of dollars in marketing just to maintain their reputation. Marketing educate the people about the latest trend, help to boost the sales and profit and try to develop company’s reputation.

4. Helps in maintaining healthy competition

Marketing helps to foster an environment in the market place for a healthy competition. Marketing efforts get the word out on pricing of product and service, which not only reach to the intended customer but at same time reaches to other companies competing for consumer business. Lot of companies that have a monopoly on product and services can charge almost any price from the consumer. Marketing helps to keep pricing competitive for a business to try to win consumers before its competition does. Without competition, well known companies would continue to sell at the price they want to, where as small or new companies would stand little bit of chance of ever becoming successful in this harsh competitive market. Marketing encourage the healthy competition that allows the small businesses and new businesses to enter successfully and grow in the marketplace.

5. Gain and retain customer

Once a brand has gained its ground and establish its customer, marketing enables it retain its customers. This is very essential so that the brand does not lose its ground to the products that newly come into market or introduced in the market.

6. Identifying real customer

Marketing strategies allows a business to identify its potential and actual customers. Instead of trying to impose the product or services on unwilling consumers or who are not interested for particular product, marketing helps to target those customers who have the real need.

7. Provide information

Marketing a product of a company is the best way to provide information about it. It will provide information about the salient features of the products and services to the consumer. And the same information will attract the consumers towards the product. Knowing a brand better ensures that customers will come to trust it better.

As Startup Specialists we have used our knowledge and experience to set up a free portal of frank, accurate information. Do check out www.startupinthailand.com for more details on doing business in Thailand /Asia or for a free startup consultation.

Aditya Interactive is the only company in Thailand to provide a single window solution for all business startup and expansion requirements under one roof : Startup consulting | Market Entry | Legal | Serviced Office | Factory Setup | Representation | Recruitment |Accounting | Operations | Sourcing | Buying | Distribution | Marketing | Regional Business Development | Management.

Check out our Thailand Market Entry Services  and your business expansion options here.

Be equipped for doing business in Asia. Download our FREE e-Book on How to do Business in Asia

5 Tips for Raising Funds for a Startup Project

We all have some ideas, be they meticulously planned out or half formed, for a company that we think could be successful. But who has the money to toss at a startup on a whim? Well, startups aren’t just for rich people with time to kill. Anyone can succeed with their startup, and that includes you. You just might need to do a little bit of fund raising first! But don’t worry, because we’re here to give you the top 5 tips for raising funds for a startup project.

Talk to Wealthy Family Members

Some people might instantly recoil at this suggestion and we understand why that is: pride. No one wants to ask their parents for a loan, much less their in-laws or their rich uncle. It makes us feel bad about ourselves—not to mention awkward. But sometimes you have to bite the bullet and make a few phone calls. It can make things better if you phrase your pitch as an investment opportunity and you give them stock in your company when it becomes available.

Take out a Loan

You might not consider this fund raising, but it’s a quick way to get money for your small business. You can sometimes get more than $100,000 for your small business if you’re lucky. The problem is making sure that you can pay it back on time and that you can deal with the inflation that often comes with loans.

Seek Government Funds

If you’re doing something with technology (or anything else that any government entity might find interesting) then you can apply for research grants and government funding. Just be careful about what you agree to. Sometimes government involvement can leave you with strings attached that limit what you can and cannot do with your business.

Turn to Crowd Funding

Crowd funding platforms like IndieGoGo and Kickstarter allow consumers to donate money to you for you to develop a product. It can be hard to run a campaign and to get people interested, but if you pull it off you might be able to walk away with hundreds of thousands of dollars! Some have even managed to raise more than $1,000,000 via crowd funding. Just be sure that you come up with some good rewards for those who back you and that you have the leftover funds to make good on them!

Pitch your Ideas to a Larger Company

Sometimes you can’t stay as independent as you’d like. It’s a sad reality of life. If all else fails you can still pitch your ideas to a larger company like Google or Facebook. Many large companies buy promising looking startups all the time! If you get really lucky you can keep control of your company even if you no longer technically own it. It isn’t the best situation to be in, but it isn’t the worst by any means. You can still make plenty of money when you’re owned by a larger entity!

As Startup Specialists we have used our knowledge and experience to set up a free portal of frank, accurate information. Do check out www.startupinthailand.com for more details on doing business in Thailand /Asia or for a free startup consultation.

Aditya Interactive is the only company in Thailand to provide a single window solution for all business startup and expansion requirements under one roof : Startup consulting | Market Entry | Legal | Serviced Office | Factory Setup | Representation | Recruitment |Accounting | Operations | Sourcing | Buying | Distribution | Marketing | Regional Business Development | Management.

Check out our Thailand Market Entry Services  and your business expansion options here.

Be equipped for doing business in Asia. Download our FREE e-Book on How to do Business in Asia

Every Business Idea Is Good, If Executed Perfectly

Execution is the process of carrying out the plan, order or course of action. An entrepreneur plays a very important role for his company in Thailand and is being visualized as a person juggling a large number of items of different sizes and weight. Almost each and every entrepreneur face challenges in everyday life.

For entrepreneurs it is often easy to come up with various ideas for its new venture but things get tough when ideas need to get implemented. Execution in business is being considered key to success, but it is not an easy task to do.  Whether it is a start-up company or a well-established company execution becomes an important task and responsibility for all the employees of the company. Once a top executive of the business in Thailand approves the annual plan, then implementation process gets started.

Proper execution requires that all the members of the organization must be aware of what is expected out of them and by what time they need to deliver the result. But in most of the cases it has been observed that the company fails when it comes to execution. There are various reasons and causes when a business in Thailand fails to execute.

Business Wrongs

People are not aware of the goal

Most of the people working under same organization are not aware of the important goal or there are too many goals which need to be achieved   at same time. That leads to confusion and result in failed execution.

Poor communication

Poor communication is another reason that results in failure of execution. Most plans fail simply because they are not properly communicated to the people.   People are not sure what is expected out of them because of lack of communication.

Resistance to change

Implementation indicates changes.If people do not agree with the plan or strategic decision, they are unlikely to carry them forward and may not achieve the desired goals if things are not properly carried forward.

Wrong people for wrong post

Choosing or assigning the job to wrong people may also result in failure of execution. There are reasons that are involved when a Thai business fails to execute business ideas in reality. So implementation plays a very important role which emphasizes to focus on one’s thinking so that entrepreneur can identify specifics of his/her product and services. Hence following steps should be followed in order to make the execution successful. Execution implies implementing the right thing for the organization success.

Business Rights

Believe in yourself

It is not possible to take any sort of decision or any kind of action, if you do not believe in yourself. One of the most important things is for any entrepreneur that they need to believe or   have faith in their course of action. An individual must be responsible for his own decision and must have a self believe. Most of people are scared of taking decision or taking an idea to reality because in the long run they might face unexpected challenges and obstacles which may be difficult to handle for them, if they do not have belief on their own decisions.   Self-belief is very important while planning to execute.

Treat risk as your best friend

Whenever you are planning to give birth to an idea, risk factor also arises along with that idea. So always try to treat risk as your best friend. If you are able to accept the fact, then it would be possible for an entrepreneur to stay focused on his mission and can be on track without getting affected by the obstruction. Sometimes things don’t turn up as per expectation, but keeping one self-focused is the utmost important thing. Risk factor is part and parcel in any business stream. In order to turn the idea into reality, one needs to face obstruction and hurdles till the end of the result.

Passionate

When an entrepreneur plan to pursue to do something with full of passion and energy, then it’s possible to overcome the hurdles that he might face in the long run of business. When you put your    passion in everything you love to do, it gives you a power to become a potent pioneer. If any idea is being pursued passionately, then any idea can be converted into reality that   may result in successful execution

Set clear priorities

Entrepreneur might face problem or might fail in carrying out their strategy if they set too many priorities. First of all make sure to focus on those topics which are important for the business purpose. Focusing on the right purpose would head you and your business to the right direction and may contribute to the success of your business.

Try to measure success

Measuring the success plays also very important role in a business. Measuring success gives an opportunity to build a bridge between a challenged and its performed solution. Success can be measured by setting up goals and keeping a track of how much of it is achieved.

Plan to define action and responsibility

Planning is all about defining actions and assigning responsibilities to people. An entrepreneur must be aware of his responsibilities and the task that he needs to perform and what needs to done by others. Implementation of the plan needed that each person not only just at management level but each and every one should be informed of their duties, task and   responsibilities that they need to perform.

Communication

Detail plan out and proper communication to people also play very important role. They must be communicated properly that what is expected out of them and by which time they need to deliver the result. Proper communication is required to make people aware of their roles and responsibilities.  In Thai business proper communication and detailed work out of plan always make the execution successful.

Follow up

After following all the points, an entrepreneur of startup Asia needs to recheck the procedure in order to make sure that there are no hurdles and obstructions that might be faced by their employees. So, a regular meeting can help things flow seamlessly and keep things on track. So follow up is must to ensure that everything has been set up and plans are placed correctly.

As Startup Specialists we have used our knowledge and experience to set up a free portal of frank, accurate information. Do check out www.startupinthailand.com for more details on doing business in Thailand /Asia or for a free startup consultation.

right direction

What Qualities do You Need to have as a Startup CEO ?

Plenty of people have lofty dreams: lawyer, politician, celebrity. These are some of the most common around, but they aren’t the only aspirations pushing people forwards. Just as many people wish to be a businessman/businesswoman. And most people in the business world hold onto a desire to one day climb the ranks and become a CEO. But why spend decades fighting to take over the position in a well-established company when you can just start a new one? It sounds great, but not everyone is cut out for it. So just what qualities do you need to have as a startup CEO?

One of the simplest qualities any startup CEO needs is the willingness to fail. This might seem counterintuitive, but it’s necessary. A person who is afraid of failure is afraid of risk, and there can be no large scale success without risk. Failure isn’t desirable, but to be afraid of it isn’t acceptable. You need to confront the possibility that things might not go as planned and then you need to keep going anyway. You have to move forward with low certainty at times and you must do so with no fear. You need to confront the possibility that things might not go as planned and then you need to keep going anyway. You have to move forward with low certainty at times and you must do so with no fear.

In addition to this, startup CEOs need to be willing to work long hours. Some people glamorize the idea of being a CEO as an easy position with a lot of perks, but that idea isn’t always true. Sure, some CEOs are passive within their jobs, but you can’t afford to act that way when you’re working at a startup. Everyone needs to be giving their job their all, and that includes the CEO.

As the CEO you also have to be prepared to make sacrifices. If you need to take a salary cut to hire more staff members then you do it. If you need to give up your big office to save space on rent then you manage. If you need to pay out of pocket for some office or work supplies then don’t complain about it. It’s especially important that you don’t complain about any of that. And do you know why? Because the CEO is seen as a leader.

You need to be confident on the outside, even if you’re terrified on the inside, because your tone and the way you carry yourself will influence every worker under you. If your staff sees you panicked then they’ll soon be panicked too. No matter what happens you need to act as though it’s just a minor setback. Freak out when you’re alone if you need to, but avoid public displays of stress at all costs.

Above all else, you need to be a decision maker. You can’t spend a week sitting on your hands and contemplating each move you make. A startup CEO has to take charge of situations and make quick decisions that serve their business well. Quick decisions that end in disaster won’t due, and neither will delayed decisions of any sort, even if they’re good ones. They need to be good, they need to be made quickly, and you need to be the one to make them. Think on your feet.

 

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How to revive a business, when it is too slow

In each and every field of life, you get to the taste failure as well as success. Nothing seems to be permanent in this world. Similarly the field of entrepreneurship is also a roller coaster ride. Sometimes a business loses its lustre in the long run.

Like everything else in life businesses also have a shelf life and tend to slow down after a certain point of time due to lack of innovation, motivation,new ideas and sometimes also due to economic downturns. That is the most crucial phase of a business and a lot of people just throw their hands up in the air at that point and decide to shut down or sell off majority of their stakes. Instead of giving up, that is the time when entrepreneurs need to dig deep and deploy new methods and strategies to stay afloat and revive their businesses.

It is not possible to cure a patient, unless you know the cause or reason for his suffering. So it needs to get diagnosed.Similarly a business also needs to get analysed in order to bring back its glory days. Let us take a look at a few methods over here.

1. Identify the problem

The first and the foremost step is to identify the problem that is making the business sluggish and try to look for a solution, so that business gets back on track again. There are various reasons that can affect the performance of a business, for example strong competition from other brands that have a strong foothold in the market could be one of the few reasons. It is very essential to change or modify your business strategy according to the market condition and as per the needs of the consumers. Customers are considered to be kings in any business. So you need to focus on the needs of the customer and need to work on it carefully. Try to focus on your areas of strength which were generating huge revenue for the company during the golden days. Try to make a note of all the changes and list out the factors that led your business to this current situation. By analyzing the problem, you would be able to overcome the problem and change the fate of your business.

2. Focus on quality

Most of the times in the pursuit of making more profit entrepreneurs tend to work on too many projects at the same time. However it is very important to focus on quality rather than quantity. The motto of your company should be to deliver and enhance customer experience. To have more on one’s plate than one can expect to chew is the biggest bane for any business.

3. Refresh market strategy

It is well a well known fact and goes without saying that marketing is one of the most important aspects of business that can either make or break your business. So a company must be aware of the market situation and figure out marketing strategies and plans that are best suited to publicize the business in the given scenario. All small details need to be worked out in order to run the company like a well oiled machine. Focus should be on the target consumer base for your products and services and that can be done by hosting campaigns and road shows..

4. Flexible

Flexibility is one of the important factors in business which should not be left unnoticed. A company needs to be flexible and should be ready to adjust as per the demands of the market and consumer needs.

5. Appointing right people

A company must take care of the selection process while choosing candidates for a particular job role. Taking a wrong decision or choosing a wrong candidate can affect productivity. Appointing horses for the courses or right people for the right job can result in the growth of company and more revenue generation.

6 Consumer friendly

A company must try to make the products more usable or in other words consumer friendly by being constantly innovative and using latest technologies.

Consumer interaction

A company for its betterment can use the platforms of social media in order to interact with the consumers. They need to evaluate the needs of the consumer and social media enables them to talk

to them directly. They can ask for their feedback, opinions and suggestions. This can help the company to understand what exactly consumers are looking for and expecting from the company. A few of the suggestions can be incorporated in your business strategies and make modifications or changes if required. It is the easiest and the cheapest way to reach out to a large number of customers in very less time..

8. Infusion of young blood

It is also of utmost importance to keep adding new and young workforce to your company ranks intermittently to ensure that there is always a flow of young and fresh ideas which contribute handsomely towards the growth of a business in today’s age of innovation and technology. Stale and hackneyed ideas tend to slacken the pace of a business at times and that is when the need to infuse fresh blood bubbling with energy and enthusiasm comes into the picture. That is really infectious and also rubs off on the experienced staff and creates a lot of positive energy all around.

As Startup Specialists we have used our knowledge and experience to set up a free portal of frank, accurate information. Do check out www.startupinthailand.com for more details on doing business in Thailand /Asia or for a free startup consultation.

Aditya Interactive is the only company in Thailand to provide a single window solution for all business startup and expansion requirements under one roof : Startup consulting | Market Entry | Legal | Serviced Office | Factory Setup | Representation | Recruitment |Accounting | Operations | Sourcing | Buying | Distribution | Marketing | Regional Business Development | Management.

Check out our Thailand Market Entry Services  and your business expansion options here.

Be equipped for doing business in Asia. Download our FREE e-Book on How to do Business in Asia

How Do You Acquire Trust Of A Customer?

Consumers or customers are considered to be the king of any Thai business. The ultimate success of any business depends on the consumer’s loyalty for the product they buy. Organization which are able to establish a good consumer relationship are able to expand their business without any gimmicks, free cut or any sort of special treatments. Consumer doesn’t buy the products from those people whom they are not able to trust. Trust is a very crucial factor that plays an important role for any business Thailand.

Earning trust of your consumer is the key to marketing sales and building client loyalty. Now-a-days consumers are too much careful and concerns on the purchase of the products they are making. They have lot of questions,   queries on their mind while dealing with any product. When consumer trust your product and you, they would be more comfortable to make more purchase from you or your company.   Even they would refer their friends, relatives and their loved ones about your product or the company.

Once you earn the trust of the consumer and get their loyalty for the product, you can charge higher prices in comparison to your competitors that may lead to increase in the profit of your company. With trust, you would have client for lifetime and without it, you just need to pack up your business and go back home. So trust is the most important factor in any relationship. Building trust takes lot of time and hard work in order to make your business going on in a long run. So following things should be kept in mind to gain the trust of consumer that has been discussed below.

1. Providing better service

In order to gain the trust, the consumer must trust the brand of the company. Once the consumer starts trusting a brand, they would start recommending to their friends, relatives and their loved ones. At the same time the consumer would make use of the brand frequently. Customer trust can be earned or gained by providing them a great service. Any consumer would like to get them treated in a well manner. The service which is being provided to consumers should come naturally, instead of being strategically planned. The more time you consume to plan for offering good service, the less time you would spend for delivering it.

2. Value customer suggestions

Customers are considered to be the king of the business in Thailand. It would be easy for a company to build its credibility when a company makes an effort to show the consumers that they value their request and their suggestions that would have major impact on the product development choices. In other words, companies are open to changes and welcome the feedback of the consumers. A company would be able to succeed only when they make an effort to change as per the situation and demand made by consumers.

3. Maintaining transparency

Maintaining transparency is very much required while doing a business? It should come naturally. Now-a-days customers are pretty smart and they know when you are being upfront or when they are being misguided and being lied by your company. It is been said that honesty is the best policy, so each and every business should follow this policy. We all are human and we tend to do make mistakes. Instead of covering up your error or avoiding the topic altogether, it is better to accept your fault and admit it in front of consumer. They would appreciate your effort for accepting your fault and trying to resolve the problem would make the consumer more confident on your product or services. Never try to hide    any issue or errors. Instead address the problem and try to explain the consumers the steps which you would take to resolve the matter. So transparency is very important matter in order to gain the trust of consumer.

4. Be professional

Professionalism is one important aspect in business. Customers tend to trust those people who are serious about their business and take things seriously whatever they do.  People are professional when they are keen to learn about their consumers, their industry and try to learn to accept challenges. To be professional in your business you have to have strong business ethics and under no circumstances they should be compromised. The professional attitude will always help in creating a strong positive mark in the customers mind.

5. Offer money back guarantee

Most of the time consumers do not want to rely on companies because at the end of the day people are scared of losing their precious money. Sometimes consumer does not get content with the quality of the product or the services. By offering money back, it would be easy to dissolve their fears or the hesitation which they show while making the purchase. This will in turn make a customer confident in choosing your business over your competitors.

6. Do not be harsh on consumer

Most of the consumer has faced once in their life rude behavior and that may in turn affect the sales of business. This is exactly how word of mouth can work against the reputation    of a company. It takes lot of years to build reputation but it just takes fraction of seconds to spoil it. It is very important to communicate to the customers in a polite manner and try to pay them respect even if they are at their worst of the mood. Dealing with calm and respect would help to resolve an issue in an easy manner. Keeping your patience is necessary to give your consumer enough room to air out their issue. In turn it creates an opportunity to resolve the issue as soon as possible. The more comfortable the customer is with you, they are more   likely to share their feedbacks, opinions and suggestions that in turn can help to prevent the same problem occurring in the near future.

7. Create a consistent brand image

Having a consistent branding image helps to create a clear identity in front of the consumers that they can relate to. It gives an idea and shows the consumer who are you, what you   stand for and in what way they can help them. Having vision, mission and making customer the sole priority would definitely go in a long way to create a good brand image. Once you have a good brand image, it will keep your existing consumers and attract newer ones.

8. Always try to keep your promise

It is been said promises are meant to be broken but in this case, it is not applicable. If you are not able to keep your promise then consumer would not able to trust you in long run. In order to achieve their confidence try to keep your promise and do what you say. It is better not to make false promises or commit strict timelines which in reality cannot be followed just to win the customer. It will definitely bring the business down in the long run.

As Startup Specialists we have used our knowledge and experience to set up a free portal of frank, accurate information. Do check out www.startupinthailand.com for more details on doing business in Thailand /Asia or for a free startup consultation.

Aditya Interactive is the only company in Thailand to provide a single window solution for all business startup and expansion requirements under one roof : Startup consulting | Market Entry | Legal | Serviced Office | Factory Setup | Representation | Recruitment |Accounting | Operations | Sourcing | Buying | Distribution | Marketing | Regional Business Development | Management.

Check out our Thailand Market Entry Services  and your business expansion options here.

Be equipped for doing business in Asia. Download our FREE e-Book on How to do Business in Asia

What kind of person makes a successful entrepreneur?

An entrepreneur is a person who sets up business or businesses, taking on financial risks in hope of profits. In other words it can be said that an entrepreneur is someone who exercises initiative by organizing a venture to take the benefit of an opportunity and as a decision maker decides what and how much of goods or services will be produced. As a human being we all are created with different nature, passion and skills. In addition to that, we all learn and experience different phase of life that is unique to us allowing us to form charactersticesand qualities of who we are and what we want to be.

For those who decide that they have what it takes to become an entrepreneur, it these qualities that can lead them to their path of success or falure.Although some would argue, that successful one just lucky or they have got the luck on their side, but to be successful entrepreneur, it needs more than luck in order to be succeed in this hard core competitive market. Luck may take them to the destination they want to reach but it is their ideas,dedication,hard work and their action that can make successful in their long way.

Entreprenuers are some the  multiverse,multi -talented  and diverse people. They try to perform different roles at same time like they are the projectmanagers,a risk taker, an accountant, a marketer and a salesman etc.They need certain qualities in order to be successful which have been discussed below.

1. Passion and motivation

The one word that describes the basic requirement for an entrepreneurship venture is “passion”. Passion is the most important trait of the successful entrepreneur. Loving your work is the most important thing. A successful entrepreneur always loves his work genuinely and always willing to put those extra hours and efforts to make the business succeed. the happiness, which is being achieved from success is way beyond their money which they invested in their venture. In other words demonstration of passion and motivation would determine the success in any entrepreneurial venture. From building and implanting a prototype, to pitching idea to venture capitalists, success is the function of passion and motivation

2. Risk takers

Entrepreneurs are risk takers and always ready to face the risk into future of uncertainity.Good entrepreneurs are not scared of taking risk on their shoulders. They have to take risks   on everyday basis because it is a part of running business. What distinguish a successful or a good entrepreneur from rest of the other entrepreneurs are that successful entrepreneur take calculated risks, they are not the foolish one who would not see the pros and cons of the outcome. They look at the pros and cons, of every decision that they take and face, take   the advantages and disadvantages of every move into consideration. They try to look at all the possible outcomes and then try to make a calculated and informed decision taking   while taking everything into consideration. Taking risk in a business is part of game, however taking calculated risk  brings about positive outcome in most of the times.

3. Adaptibility and flexibility

It’s good to passionate about the work and sometimes be rigid about the work you do. But being inflexible about client and market needs would lead to failure. It is necessary to have an open mind in adopting the.changes.They should not be headstrong and stubborn when it comes to choosing other options. Entrepreneur should be flexible while making a decision. They should not be rigid in the decision making process. If the situation change a demand in the decision that will be beneficial to the entreprise, then after looking and analyzing the pros  and cons of the decision, the entrepreneur should revise and modify the decision.

4. Self confidence

A successful entrepreneur must poses a strong sense of self confidence and healthy opinions of their skill and ablities.They must have the confidence and belief in themselves to   achieve the desired objectives. They should strongly believe that they can beat anyone in this field. They are responsible for their own success. Therefore must have the confidence   to promote themselves and their business on a continuing business. Their personality is assertive and strong. They are always focused the task they performing keeping the pros   and cons at the back of their mind. They are confident with the knowledge and their abilities that they would make the business succeed. They exude that confidence in everything they do.Thats what makes them different from rest of people.

5. Good communicator

Communication is the most important part in any professional feilds.It entrepreneur must be well-versed with the art of communication. Entrepreneur must be good communicator while sharing the ideas and thoughts with their inverstors, clients and many more people while advertising and promoting their company. It is the skill through which both the sender   and receiver understand each other’s thought process. In many situation they require to influence creditors, investors, suppliers, customers and government  and make them think in his   way and act accordingly. An entrepreneur who can effectively communicate and convince these above people will be more likely to succeed than those who does not know the art of communication.

6. Spot solutions not problems

Entrepreneurs are never put off or scared by the obstacles faced in venture, even one that seems insunmountable.True entrepreneur look for ways to make ideas work while regular  people try to focus on the problem only why they won’t work.?If entrepreneur face any sort of obstacles, they try to realize the problem and seek the way to overcome it. On the other hand regular people see the problem as an excuse to give up.

7. Innovative thinkers

An entrepreneur must be innovative and creative Entrepreneurs are almost defined by their constant drive to develop new ideas and always try to improve the existing one. Successful   people welcome changes. Through his innovative ideas and creative thinking, an entrepreneur is able to engage himself to analyze various problems and situations in order to deal    with them. With his thought process, try to improve the new products, develops new methods of production, try to discover new market and reorganizes the enterprise.

8. Leadership

An entrepreneur must possess good leadership qualities in order to be a successful entrepreneur because it is one of the important aspects of entrepreneurship. They are good at   managing all the aspects of professional and their personal lives. They have the ability to make big decision and the right decision. They can provide guidance and good opinions to others. The entrepreneur must have ability to lead so that he can induce people to work with confidence and zeal. It is an aid to authority and also helps in better utilization of   manpower.

9. Good human relation ability

Entrepreneurs must have the abilities to maintain and establish good relation with their customers, clients, suppliers, financers and people involved and related to business to run it   effectively and effciently.It is very important to build good rapport with outside world.Maintaing good human elation isw very essential in order to succeed.Emotinal stabilty, tactfulness and warm human relation are some of the important qualities and requirements which would bring success to an entrepreneur.

10. Goal oriented

Entrepreneurs are always goal oriented.Entreprenuers love to set their goals and put their all efforts to achieve that goals.They are always determined to succeed and would remove     any hindrances that may stand in their way. They also tend to strategic in their game plans and have got a clear vision and idea that what exactly they want to achieve and how to achieve.

11. Determination

Entrepreneurs are not scared by their defeats or lose hope by their defeats. They look at the defeat as opportunities for succes.They are very much determined to make their all     endeavors succeed. They will keep on trying till they do not succeed. They are highly determined and do not believe in the term “impossible.

12. Hard work

It is one of the important trait and completely pivotal ingredient to true success. In order to achieve the goal, the entrepreneur have to put lot of effort and hard work to realize their       dream. There is no short cut for success.Hardwork and dedication can take the entrepreneur to that place where he wants to reach and would be able realize his dream.

As Startup Specialists we have used our knowledge and experience to set up a free portal of frank, accurate information. Do check out www.startupinthailand.com for more details on doing business in Thailand /Asia or for a free startup consultation.

Aditya Interactive is the only company in Thailand to provide a single window solution for all business startup and expansion requirements under one roof : Startup consulting | Market Entry | Legal | Serviced Office | Factory Setup | Representation | Recruitment |Accounting | Operations | Sourcing | Buying | Distribution | Marketing | Regional Business Development | Management.

Check out our Thailand Market Entry Services  and your business expansion options here.

Be equipped for doing business in Asia. Download our FREE e-Book on How to do Business in Asia

Marketing and Sales – How Different And How Important Is It?

Marketing refers to the action of business of promoting and selling products or services,including market research and advertising whereas Sales refers to the act of selling a product or service in return of money or compensation. Both are considered to be important aspect of a business.The success of any business organization lies on successful marketing.

The overall marketing concept covers advetising,public relation,promotion and sales.Your business may offer the best product or services in the industry,but in the absence of marketing,none of your potential consumer will come to know about it whereas Sales is that department that generates revenue.in any business organiszation.

No matter how good your manufacturing operation is,how cutting edge your technology is,how tight financial goals,it is very important that sales mechanism should be in place otherwise everything will be useless for a company. Some of the importance of marketing and sales are discussed below.

Importance of marketing

1. Getting recognition

For a business to succeed in this competitive market,the product or the services offered by the company must be known to potential buyers.Until and unless your business is known to the community and have communication with your customers readliy available, the company need to use marketing strategies in order to create awareness of product or services.Witout the implementation of marketing strategies,your potential consumer may not be aware of your business offering and your business may lose the opportunity to progress and succeed.Using the marketing strategies in order to promote the product, services and company  provides your business with a chance of being discovered by prospective consumers.

2. Maintains reputation or goodwill

The success of any business depends on its reputation or goodwill.In order to maintain its reputation,marketing plays a very important role by buliding a brand’s name in the market.It takes years after year to build its reputation or goodwill in the market.And in order to retain the same reputation marketing strategies should be used or implemented.  Many multinational companies spend thousands of dollars on such marketing plan and try to educate the people about the latest trend,helps to boost both profit and sales and try to develop company’s reputation.

3. Increase in sales

The main motive or purpose of marketing is to help the company to generate more sales.In order to create awareness among the people,the company need to advertise and promote their product and services, so that people get to know about the presence of the product.As the awareness becomes reality,it is where the new customer will start spreading and start telling their families and friends about the new product they discovered.As the word spread, your sales will increase steadily. That the reason the business owner invests in marketing plans and strategies in order to create awareness and inform the consumer about the product.In the absence of marketing, these sales may not have ever happened and without sales a company can never succeed.

4. Gain and retain customer

Once a brand gains its ground and establishes its customer, marketing enables to retain its customer. This is very essential so that the brand does not lose its ground to the products that newly come to the market or introduced in the market.

Importance of sales

1. Growth

The sales function is the key mechanism or the important aspect for companies to grow through referrals. In fact, a number of sales organizations indicate collateral material or thank you letters that refferals are essential to their business. Leveraging the fact those new or established customers sees value in the solution; a sales representative can ask if the customer knows about the other people with similar needs or interests. Referrals are an efficient prospecting tool, because they create personal connection in the call to new prospect.

2. Sales conversion

The main role or purpose of sales is improving the efficiency of converting prospects into the customers. Salesperson can directly communicate with the prospects, ask them questions to help, address any possible buyer concerns and ultimately recommend products or services.Without these important steps, the company had to depend or rely on passive marketing messages to carry weight when buyers looks at the purchase decision.For instance advertising cannot give answers to follow-up question which customer have in mind after watching the real advertisement. Messages.Salesperson gets the chance to clarify their doubts.

3. Customer retention

The personal interactive nature of selling makes it an important or key ingredient in company to build long term relationship with customers. Salesperson can go for follow-up after the consumer make the purschae to make ensure that consumer have good experience. In the absence of contact,the dissatisfied consumer do not complain,they shift to other providers.This ongoing interaction also allows for opportunities to make additional sales that address future or ongoing needs of customers.

Distinction between marketing and sales

Marketing and sales both try to aim at increasing the revenue of a company.They are so closely intertwined that sometimes people fail to realize the difference between two.Indeed in a small organization people try to perform both sales and marketing tasks.Marketing is different from sales as the organisation grows and roles and resposibilities becomes more specialized

1. Marketing emphasis on the consumer needs whereas selling emphasis on the product.

2. In marketing company first try to determines the needs and wants of the consumer and then try to decide how to deliver a product to satisfy their wants whereas in selling company think of manufacturing the product first.

3. In marketing managment is profit oriented whereas in sales, management is sales volume oriented.

4. Marketing stresses the needs and wants of buyers whereas selling stresses the needs of sellers.

5. Marketing tries to view the business as consumer producing satisfying process whereas selling view the business as a good producing process.

6. In marketing consumer determine the price and price determine the cost whereas in selling cost determines the price

As Startup Specialists we have used our knowledge and experience to set up a free portal of frank, accurate information. Do check out www.startupinthailand.com for more details on doing business in Thailand /Asia or for a free startup consultation.

Aditya Interactive is the only company in Thailand to provide a single window solution for all business startup and expansion requirements under one roof : Startup consulting | Market Entry | Legal | Serviced Office | Factory Setup | Representation | Recruitment |Accounting | Operations | Sourcing | Buying | Distribution | Marketing | Regional Business Development | Management.

Check out our Thailand Market Entry Services  and your business expansion options here.

Be equipped for doing business in Asia. Download our FREE e-Book on How to do Business in Asia

What Are Your Biggest Challenges While Promoting Your Business Online ?

If you want to succeed with your business in our modernized, technology focused world then you’re going to need an online presence. People are now accustomed to hearing about something, whipping out their smart phones, and looking it up right then and there. Of course, there’s probably information about your business available online, whether you put it there or not. Hence, you need to have as much control over this information as possible and you want to provide your own image to people. But, before you can do that you need to answer this question: What are your biggest challenges while promoting your business online?

There are certainly some obvious challenges to start with and perhaps none of them are as important as perfecting your social media presence. Without a good following on sites such as Facebook, Twitter, and Tumblr, you are at a severe disadvantage. These sites allow you to deliver promotions and information directly to your customers without paying a dime. But before they can be effective at doing so you have to convince people to follow you—to “like” your pages, to subscribe to your feeds.

This can be accomplished in one of two ways: you can either build your community organically and through cross promotion between different media platforms; or you can purchase extra “likes,” sponsored space on consumers’ media feeds, and advertisements on every platform. The best route to take is always, without fail, the organic route. Why is this?

For starters, purchasing extra “likes” and followers from companies you don’t know about can cause problems. Sproblemsome services that offer you fans like that are a scam. This is where the accounts that start to follow you are generally run by computers and not real people.

The official options that social media platforms offer – such as sponsored space and advertisements – are more effective, but still not always worth your time. Some advertisements are becoming less effective, as there has been increased usage of advertisement blocking technology amongst consumers. With this tech, the consumer can instantly hide your ad before it even appears. The sponsored space or recommendations that you can purchase is generally not vulnerable to this tech. It is a great way for a company to force itself onto media feeds. However, this needs to be done carefully and not in a spammy way, as it can push people away from you rather than towards you. Another thing that can be annoying to consumers are lengthy video advertisements, which should be avoided at all costs. Keep your videos short, sweet and interesting or entertaining.

If you have the staff or time, you should go with the organic approach: hire someone that is competent with social media to run your Twitter, Facebook, Tumblr, and Youtube accounts. Have them post engaging, appropriate, and relevant content. Make sure it’s stuff that your target audience really wants to see. Sprinkle in some good deals every now and then so that they have more incentive to pay attention.

This is your biggest challenge: keeping your social media foothold. If you can get them following you on their media feeds, then your posts will be mixed with those of their friends and family. You’ll become a part of their daily lives and you’ll be able to shape your online presence as you please.

As Startup Specialists we have used our knowledge and experience to set up a free portal of frank, accurate information. Do check out www.startupinthailand.com for more details on doing business in Thailand /Asia or for a free startup consultation.

Aditya Interactive is  the only company in Thailand to provide a single window solution for all business startup and expansion requirements under one roof : Startup consulting | Market Entry | Legal | Serviced Office | Factory Setup | Representation | Recruitment |Accounting | Operations | Sourcing | Buying | Distribution | Marketing | Regional Business Development | Management.

Check out our Thailand Market Entry Services  and your business expansion options here.

Be equipped for doing business in Asia. Download our FREE e-Book on How to do Business in Asia

Is Building Your Business More Difficult than Starting it Up ?

Many people dream of starting a business their entire lives but they’re afraid of going through with it. For the most part it seems that people think of starting a business as too large a task for them to take on; they think that it is a risk or that it is too complicated. These people are astoundingly wrong. What they need to realize is that starting a business is easy. You can do it on a whim with a little bit of documentation and effort. What they should fear is building the business up. Is building your business more difficult than starting it up? Absolutely.

It takes almost zero effort to start a business. Give it a shot right now. Come up with something that you want to do—like selling books or building bird houses. Now come up with a name for business and do a few quick searches on your favorite search engine to make sure it hasn’t been taken or trademarked by someone else. Is all of that done now? Good. Pick a type of business structure after that; you’ll probably want a sole proprietorship. Then, finally, search for the documentation to register your business, fill it out, and send it off to relevant the county and/or state clerks. Congratulations! That should have taken you less than an hour or two, paperwork included.

Sure, there are some more complicated steps for some businesses. People who want to open a restaurant or brew alcohol will need licenses and permits to do so, but that really only amounts to a bit more prep and paperwork. On the whole, most businesses can be started by filling out a few forms that are readily available for anyone who wants them.

But what do you do after that? Well, anything after you officially start your business falls under the “building your business” category. You’ll need to figure out how to acquire stock (or raw materials) for a reasonable price, who your target audience is, and what marketing – if any – is necessary. You’ll need to find people to help you fund it if you’re low on cash. You’ll have to figure out distribution and you’ll need to decide how much your goods and services are worth.

Terrified yet? Don’t be. It all sounds scary, but once you actually start the business you can take things a step at a time. Just understand one thing: it will never be easy in the beginning. The building process can be painstaking and disheartening. No one should tell you otherwise. But, what’s important is that this process is completely separate from starting a business. You should never be scared to start a business. The worst thing that’ll happen is that you won’t manage to succeed at building it up. And so what? You can always try again, and again, and again. Rinse and repeat. Don’t let a little bit of hardship stop you from getting what you want in life. Most people who are major successes today were yesterday’s failures. Failure to succeed in business is only truly a failure if you let it stop you.

As Startup Specialists we have used our knowledge and experience to set up a free portal of frank, accurate information. Do check out www.startupinthailand.com for more details on doing business in Thailand /Asia or for a free startup consultation.

Aditya Interactive is  the only company in Thailand to provide a single window solution for all business startup and expansion requirements under one roof : Startup consulting | Market Entry | Legal | Serviced Office | Factory Setup | Representation | Recruitment |Accounting | Operations | Sourcing | Buying | Distribution | Marketing | Regional Business Development | Management.

Check out our Thailand Market Entry Services  and your business expansion options here.

Be equipped for doing business in Asia. Download our FREE e-Book on How to do Business in Asia

Why Internet Marketing Is Important For Small Business

The term internet marketing or online marketing refers to advertising and marketing efforts that use the web and email to drive direct sales via electronic commerce.In other words,it refers to set of powerful tools and methologies which is been used for promoting the product and services through internet.

Now-a-days especially small firms, they do not want to depend or no more reliant on the traditional methods such as radios,television,printed advertisement or rodside billboards.It has become very essential for business to go for comphrensive internet marketing in order to succeed in this competitive world.Its importance has increased because it is the easiest medium to reach the targeted consumers quickly and effectively without any obstruction.There are many advantages of internet marketing.Here we will discuss why internet marketing is important for small business.

1. Get noticed

With the help of internet marketing, the business can get exposure all over the world and it get noticed by the people.As a result it will be possible to gain more and more busines as well as new customers It is a great way to generate targeted lead rights to the respective business and will always have new consumers coming to your way

2. Consumer searching for online products and services

In today’s world internet has become an integral part of consumer shopping practice.Almost each and every consumer looking for online products and services because it is less hectic and less time consuming at the same time.According to the latest report published by BIA/kelsey group about 97 % of the consumer are using the medium of internet for searching product and services in their local areas.Online presence with a good strategy plan make it easy for the consumer to know about the products and the services,which is being offered by the small business companies.Based on the facts and detailed information,the consumer can take their final desicion and can make the purchase.

3. Cost effective

The traditional marketing methods such as television, radio.roadside bill boards etc are quite expensive and time consuming.Moreover there is no such guarntee that these marketing techniques will be helpful in bringing more and more business.Sometimes it becomes very difficult for small business to bear such expenses.By adapting internet marketing method it becomes far more cheaper and easier.It beomes more faster and easier to reach the targeted consumer in a short span of time.According to Forbes,94% corporates are using social media and 85% said, it has given more exposure to their respective business.In other words it can be said that it is cheapest medium reaching to the targeted consumer with in less time and less expenses.

4. Branding can be done effectively

Internet marketing is the best medium or tool that can be used by the small business for branding their product and services.Once the company get exposure to the internet world, the products offered by them get noticed.According to socialmediatoday,83% of the consumer prefer to connect to brand on facebook and 58% on twitter.A study conducted by Nielsen also reported that 46%of online user count on social media while making a purchasing decision and 50% of the shoppers made purchase on the recommendation of social media.

5. 24 hours of visibility

Unlike the traditional methods, it gives 24 hours of visibilty to small business without worrying about store opening hours or overpayment of staffs.Customer can get full information about the products and services irrespective of time and places.It gives the consumer a scope and time to make a proper decision of the product they want to buy, without doing any sort of rush.Customer can even make purchases round the clock .They can browse at any time and place the order as per their convenience.

6. Attracting new consumer

Finding new consumer through traditional methods like radio, advertisement, roadside bill boards etc can be very hectic and time consuming.With the help of internet marketing it becomes very easy to attract new consumer.By creating their own website which wil provide details of the products and services.As a result more consumers will get attract.In other words a good internet marketing plan will gain more business as well as consumer.

7. Relationship

The internet marketing provides an important platform for building a healthy relationship with their customers and at same time help in increasing customer retention level.Through social media it becomes easy to interact with the customers directly.When a consumer purchasing the product from the online store,you can begin the relationship by sending a follow-up email to confirm the transaction and even can take feedback from the consumer about the product or services offered by them.And at same time small business can attract customer by engaging them with interactive methods like asking them question and answer, poll etc.According to reports published by Socialmedia today,53% people using the platform internet as two way conversation and engagment tool.

8. Higher sales

Once your product and services get on the radar screen of your prospect,It increases your chances that consumer will make a purchase.As awareness becomes reality,It is also point where new consumer start to spread their words telling their family and friends about the company and product they discovered which will lead to increase the sale of your product steadily

As Startup Specialists we have used our knowledge and experience to set up a free portal of frank, accurate information. Do check out www.startupinthailand.com for more details on doing business in Thailand /Asia or for a free startup consultation.

Aditya Interactive is the only company in Thailand to provide a single window solution for all business startup and expansion requirements under one roof : Startup consulting | Market Entry | Legal | Serviced Office | Factory Setup | Representation | Recruitment |Accounting | Operations | Sourcing | Buying | Distribution | Marketing | Regional Business Development | Management.

Check out our Thailand Market Entry Services  and your business expansion options here.

Be equipped for doing business in Asia. Download our FREE e-Book on How to do Business in Asia

How vital is a business plan for start-up companies?

Business plan means “A written document that describes in detail that how a business is going to achieve its goals. A business plan will lay out a written plan from marketing, financial and operational viewpoints. In other words it can be described as a road map that provides direction so that a business can plan its future and helps to avoid bumps in the road. It is been observed that many start-up companies fail to succeed because they lack the map to guide them through their new business venture. Successful entrepreneur are those who make sure that they have written a clear and concise business plan that can help to evaluate the mission, the goals and the aspect of their business.

A well written comprehensive business plan is the focal point of all business ventures because it describes how u plans to attract and retain customer, the most crucial part or aspect of any business. The business plan is essential to any successful business. It is considered to be the heart of the business, the basis from which all other operational and management plans derived. It is the bridge between thoughts and reality. It is not possible to turn the business venture into reality without dreaming the desired end result. It is very important to have business plans in order to meet the desired goal in future. Even the smallest business can get benefit for writing up a businessplan.In short business plan allow the person to communicate the vision to others and persuade them to help to meet the goals which he or she wants to achieve. A business plan provides a business lot of benefits which have been discussed below.

1. Clarify decision

The primary objective of a business plan is to define and explain “What is the business is or what it intends to be over the period of time”. Clarifying the purpose as well as the direction of business that allows understanding what needs to be done for forward movement. Clarifying can consist of simple description of the business and its product or services offered by the business. It can also specify the product line and services that one may offer as well as the detailed description of the ideal customer

2. Manage performance

A business plan can also be used as a management tool and can help the company to access the actual result against planned results. The plan can assign to specific individuals and ultimately help the management to monitor the progress. By writing detail plan on paper, all other options are effectively marginalized and the company is aligned to give its focus on key activities along with individual responsibilities clearly stated and outlined.

3. Aid in obtaining funding

While obtaining fund from the market, potential investors would have lot of questions about your potentiality or the existing business. A complete detail business plan not only help  to  provide them with answers but also show that about one being organized and have considered  all of the marketing ,legal, financial, human resource aspects in order to run a  business, thorough business plan would increase the chances to obtain venture capital and bank loans.

4. Ensure staff is focused on key activities

For the betterment of the company, it is important that all the employees are aligned and focused on achieving the same goal. Rather than spending precious time on e-mails,   phone calls, it should be designed in such way that each and every staff focus on the main object. With the help of business plan, it is possible to understand your business in better   way and also chart the specific course of action which needs to be taken to improve the business. A plan can also give an idea of the future scenario and can set specific objectives   and goals along with the resources required to achieve these goals.

5. Attract team members or employees

Business plan can be designed as a sale to attract partners, secure supplier accounts and can also attract executive level employees who are totally new to business venture. Business   plan can be shared with the executive candidates and even with desired partners that may help them to convince them about the potential of the business and also help them to    persuade to join the new venture

6. Identifies problem

Each and every business has got some strong as well as weak points. A thorough business plan addresses all the areas of starting and running a business plan. By including business plan in your research, it is possible to identify the problems before the business get launched. It gives a scope and opportunity to the business to make adjustment before signing the   contract and involving any sort of fund. Business plan include the budgets that help to manage the cash flow while running the business.

7. Better delegation

The business plan seems to be ideal place to clarify to each and every individual responsibility and states who is responsible for what? Every important task should have one person – in-charge. The plan helps to keep on track.

8. Correction would keep the business on track and avoid it from flopping

Including a business plan while doing a business gives better chance to the business to be pro-active rather than reactive. Plan them and do not wait for things to happen. Then follow up by tracking the results and making course of corrections. It is a wrong concept to presume that business plan is supposed to predict the future. Instead it set expectations and establish assumptions so he or she may be able to manage with the course of action

As Startup Specialists we have used our knowledge and experience to set up a free portal of frank, accurate information. Do check out www.startupinthailand.com for more details on doing business in Thailand /Asia or for a free startup consultation.

Aditya Interactive is the only company in Thailand to provide a single window solution for all business startup and expansion requirements under one roof : Startup consulting | Market Entry | Legal | Serviced Office | Factory Setup | Representation | Recruitment |Accounting | Operations | Sourcing | Buying | Distribution | Marketing | Regional Business Development | Management.

Check out our Thailand Market Entry Services  and your business expansion options here.

Be equipped for doing business in Asia. Download our FREE e-Book on How to do Business in Asia

Investing in Human Capital is an Absolute Mandate for Any Startup CEO

When you’re put in charge of a startup things move quickly! Suddenly you’re a CEO and you’re in control of an entire business. You’re making larger decisions than ever before, you’re dealing with a lot of money, and the success of dozens of people might be riding on the shots you call. But even if the money you’re working with seems plentiful, it’s likely not enough to buy everything you want. This means more tough choices! Should you buy new computers? Should you rent a new building? Not necessarily. Before you do any of that you need to realize that investing in human capital is an absolute mandate for any startup CEO.

In case you aren’t familiar with the term, “human capital” is a blanket term that covers the different skills and competencies that your employees have. This includes what they know, how creative they are, and what tasks they’re capable of completing. Many of your employees will come into your business with a decent stock of human capital already, but this will of course vary.

So how can you invest in human capital? You can start with the hiring process. Screening people for skills relevant for your business is a common practice and you should be doing it. Be thorough and take into account their relevant experiences as well. This can include where they went to school, what they majored in, and even informal things like what they read about in their spare time. You want someone who is legitimately interested in fields related to your business, not someone who just wants a job that is relevant (or kind of relevant) to their degree.

After employees are hired you can increase their human capital through training programs. Teach them new skills as time goes on, make them more adept. If there’s a new task that your company needs to be filled see if any current employees are interested in taking up the challenge before you hire out. Send around surveys of business skills that they’re interested in that, at the same time, could be useful to you.

But why invest in human capital? There’s the obvious benefit for your business in terms of competency, but that’s not the only reason to invest in human capital. By spending time on improving the knowledge and skillsets that your employees possess you make them feel like you – and your company – care about them. When employees feel cared about, in turn they work harder and they feel a sense of loyalty to your business. This makes them less likely to leave when the going gets rough.

Employees also feel more personal fulfillment when they’re learning new things. Their self-worth goes up because they know they have more value. And – once more – they associate your business as the entity that helped them gain this new value.

Just be careful that you don’t force employees to learn new skills that they’re uninterested in. That can make them feel resentful, which is the opposite of what you’re aiming for.

As Startup Specialists we have used our knowledge and experience to set up a free portal of frank, accurate information. Do check out www.startupinthailand.com for more details on doing business in Thailand /Asia or for a free startup consultation.

Aditya Interactive is the only company in Thailand to provide a single window solution for all business startup and expansion requirements under one roof : Startup consulting | Market Entry | Legal | Serviced Office | Factory Setup | Representation | Recruitment |Accounting | Operations | Sourcing | Buying | Distribution | Marketing | Regional Business Development | Management.

Check out our Thailand Market Entry Services  and your business expansion options here.

Be equipped for doing business in Asia. Download our FREE e-Book on How to do Business in Asia

How Important is Funding for a Startup Project ?

At the end of the day there is only one thing that matters in the business world: money. Any product you make, any sales that happen, any deals that get signed, anything and everything that happens is driven by profit. The entire point of any business is to make money and the only factor we really determine when looking at how successful a business has been is how much money it makes. But there’s one thing that startups usually don’t have a lot of: money. Quite the problem, isn’t it? It makes us ask an important question: how important is funding for a startup project?

On the one hand, startups – being low on cash – might see funding as a godsend. It could be the light in the darkness; the life preserver in the cruel economic ocean. When someone donates money to you, invests in your startup, or provides funding in exchange for something it can save your business from collapsing into bankruptcy.

On the other hand, funding presents a few significant complications. Chief of which is accountability. People don’t want to just give you money and let you do whatever you want with it. That’s not how most human beings function. If you’re receiving money from someone – be they a stranger on KickStarter or a wealthy relative – then they’re going to expect something back. The more they give you the more they’ll expect. Some might expect a return on the money they gave you, others might expect goods and services from you (even if they provided the funding before you were even ready to make said goods), but they’ll all expect something. If you fail to meet these expectations then your reputation can suffer, or you could lose future support for your endeavors. Neither of these outcomes are ideal.

There’s also the issue of time. Fund raising can require a solid month of nothing but campaigning, if not more. This is valuable time that you might be ultimately wasting! Who knows what advances you could be making during this time spent on begging for cash? And if you fail then you might end up spending more money campaigning for donations than you actually make. In this scenario you’ve harmed yourself more by seeking funding than by trying to make do without it.

So how important is funding for a startup project? It all comes down to how desperate you are. If you and your business partners can manage to float the bill without funding, then that’s fantastic and it might be the best way to go! But that’s not usually the case and we all know it. At the end of the day, funding can still be the deciding factor in your startup’s success. This means that it will remain very important to you and your startup until you can outgrow the need for it. Ideally, you’ll avoid it, but realistically, you probably can’t do without some funding (unless you have already acquired significant savings).

As Startup Specialists we have used our knowledge and experience to set up a free portal of frank, accurate information. Do check out www.startupinthailand.com for more details on doing business in Thailand /Asia or for a free startup consultation.

Aditya Interactive is the  only company in Thailand to provide a single window solution for all business startup and expansion requirements under one roof : Startup consulting | Market Entry | Legal | Serviced Office | Factory Setup | Representation | Recruitment |Accounting | Operations | Sourcing | Buying | Distribution | Marketing | Regional Business Development | Management.

Check out our Thailand Market Entry Services  and your business expansion options here.

Be equipped for doing business in Asia. Download our FREE e-Book on How to do Business in Asia

What does it take for a startup specialist to be successful globally ?

Can a Startup Specialist be Successful Irrespective of Country, Culture, or Resources that He Has ?

There are more than one hundred different countries in the world and within these countries are countless cultures, subcultures, and economics groups that each have different ways of doing things and different resources with which to do them. But all people from all cultures, be they rich or poor, male or female, have one thing in common: a desire to succeed. And this desire extends to those who wish to be startup specialists, which is an always growing field in our globalized business economy. That being said it seems that people have a question on their mind: can a startup specialist be successful irrespective of country, culture, or resources that he has?

The short answer is simple: yes. If you work hard enough then you can become a successful startup specialist, regardless of where you come from or what you start with. You just need to put in the time and effort to get there. But make no mistake: it IS easier for people who are well off, people with the prior expedience, or people who have many resources, to succeed. That’s just the nature of wealth—it makes things easier.

To start, we’ll assume that you’re reading this via a computer, so you already have at least one major resource in your corner. Your computer is a gateway to endless free knowledge and you need to take advantage of it. If you want to know something then use a search engine and find it out. If you want to learn how to run a startup then search for it. It’s out there and – chances are – you won’t have to pay any money for it. If you have access to a computer then you have access to a free education on startups.

For the sake of argument, let’s assume you don’t own a computer. In that case you need to seek out a library. If you’re in a country without libraries and you have no other means of educating yourself on startups then you need to move. If you don’t want to move then you don’t want to succeed badly enough. You may think you’re too poor, or that you don’t want to be away from your family, but if you truly want to be a startup specialist then you need to make compromises. Either success is most important to you or it isn’t.

Once you’re sufficiently educated on startups then you have free license to call yourself a specialist. And that’s something you need to realize: anyone can call themselves a specialist. This won’t guarantee you a job by any means, but it’ll help sell you to people. You just need to be able to competently answer their questions and plan startups when hired. Offer your services for cheap to start and then charge more as you build your personal brand into something sought after. It might take months or it might take years, but if you keep plugging away you’ll make it.

What you do, how your ventures succeed (or fail), and what people say and share about your services will ultimately mean far more than wealth or the location.

As Startup Specialists we have used our knowledge and experience to set up a free portal of frank, accurate information. Do check out www.startupinthailand.com for more details on doing business in Thailand /Asia or for a free startup consultation.

Aditya Interactive is  the only company in Thailand to provide a single window solution for all business startup and expansion requirements under one roof : Startup consulting | Market Entry | Legal | Serviced Office | Factory Setup | Representation | Recruitment |Accounting | Operations | Sourcing | Buying | Distribution | Marketing | Regional Business Development | Management.

Check out our Thailand Market Entry Services  and your business expansion options here.

Be equipped for doing business in Asia. Download our FREE e-Book on How to do Business in Asia

How to do Business in Asia when You are Not Based in Asia

It is by no means a secret that international business agreements are increasingly common. Many companies based in North America and Europe are doing a lot of business with companies based in Asia. But some are holding back due to the distance and the cultural barriers. Don’t be one of them! Just make sure that – before you do anything else – you understand how to do business in Asia when you are not based in Asia.

To start, you (or someone that works for you) need to hit the books and do some research. Know what companies that you’re interested in doing business with and look into their past deals. Try and find out what worked and what didn’t. Also take the time to look into the business culture of their home country.

It’s hard to speak generally about Asia as a whole, but there are a few things about business that are pretty common from one country to another: never be late for a meeting; always be direct and to the point; and always give your business cards to their senior team members first, and do so at the start of your first in person meeting. Other than that, there’s variation between different countries and what they like to do in their business communities, so you’re going to have to do some checking around. If you don’t then you run the risk of doing something that offends the companies you work with in Asia.

Next, you’re going to have to decide who – if anyone – should travel to Asia to represent you in meetings. You could have teleconferences (or video conferences) and avoid meeting in person altogether, but some companies like the personal touch. In that kind of situation you’re going to want to be careful about who is present at the meetings. Sending someone unimportant or unexperienced can be seen as an insult. Your best bet is to send someone who has an important, well-respected position in your company.

Alternatively, you might consider going yourself. Yes, the jet lag is uncomfortable, but it will show that you’re serious about doing business with them. They will almost certainly respect you for the extra efforts you put in by showing up in person. However, for regular business, this option is rarely workable.

The final option is to hire your own representative for the country that you want to target. In this case, they should be experienced and have a deep understanding of the culture, business startups and your business. Making sure that they understand your business should be a priority, but only after you have checked out their previous experience and recommendations.

No matter who gets sent where, or who comes over to your country to see you, there’s one last thing that is vital to doing business with any Asian country: you must have a good translator. There’s no getting around it. The target company may have their own translator on hand, and that’s fine for them, but you should always bring your own trusted bilingual team member (or arrange for one to be there). If you don’t have someone who can speak the language on hand, then hire them. Consider making them a full time employee if you’re planning to do a lot of business in the country in question. Otherwise, hiring them on as a consultant will be sufficient. Regardless, you need to make sure they’re fluent, polite, and versed in the language and culture.

As Startup Specialists we have used our knowledge and experience to set up a free portal of frank, accurate information. Do check out www.startupinthailand.com for more details on doing business in Thailand /Asia or for a free startup consultation.

Aditya Interactive is  the only company in Thailand to provide a single window solution for all business startup and expansion requirements under one roof : Startup consulting | Market Entry | Legal | Serviced Office | Factory Setup | Representation | Recruitment |Accounting | Operations | Sourcing | Buying | Distribution | Marketing | Regional Business Development | Management.

Check out our Thailand Market Entry Services  and your business expansion options here.

Be equipped for doing business in Asia. Download our FREE e-Book on How to do Business in Asia

Your Way of Doing Business Determines How Far You Can Go; Check out the Top 5 Business Directions to Help You Reach out More

Business is a lot like religion when you stop to think about it; when everything is said and done, everyone has their own slightly different way of practicing it. But, your progress through the business world can be severely stunted if you take the wrong direction, or you use the wrong methodologies. It’s unfortunate, but it’s true: your way of doing business determines how far you can go. Check out the top 5 business directions to help you reach out more!

1. Change Your Brand

This is something that some people are hesitant to do, but if you’re looking to take a new direction it’s one of the biggest – and most publically visible – ways to do it. Changing your brand name and/or logo is risky, though. You might lose many of your loyal customers in the process! Then again, you might be able to grab a whole new fan base if you brand yourself just right!

2. Hire New Staff

A fresh perspective is invaluable. There is nothing better than a new crop of employees to provide multiple new perspectives. Try to focus on hiring those who seem unique and creative. They might be hidden gems for all you know! Just one good idea from each might be enough to justify their employment, especially if it turns out to be an idea that makes you millions in the long run!

3. Change Jobs Around

Take the current employees you have and shake things up a bit. Change job duties and give some people new responsibilities. Have people who have never worked in one area work there. Get people from different departments to start talking for the first time. Ask everyone their opinions more often.

4. Change the Office Hierarchy

If the above step doesn’t go far enough for you then you can overhaul the entire hierarchy you’re working within. Create new jobs, eliminate others. Decentralize authority in some areas. You don’t need to fire anyone to do this. Just give them a new job during the job changing phase and no one will have to lose their employment. This is usually the nicest way to go about things so that you do not end up terminating a loyal employee.

5. Start Developing Something New

is there a type of product that you’ve never even thought about producing for sale? Good. Now start reading up on it. If it doesn’t sound like your kind of thing then read up on another, and another, and another. Find a product or service that you think you can tackle and go after it full force. This kind of sudden shift can redefine what consumers think they know about your business. You’ll no longer be a one trick pony and they might try your new product just for the novelty. The stranger of a pairing it makes with your flagship product, the better a choice it often turns out to be.

As Startup Specialists we have used our knowledge and experience to set up a free portal of frank, accurate information. Do check out www.startupinthailand.com for more details on doing business in Thailand /Asia or for a free startup consultation.

Aditya Interactive is  the only company in Thailand to provide a single window solution for all business startup and expansion requirements under one roof : Startup consulting | Market Entry | Legal | Serviced Office | Factory Setup | Representation | Recruitment |Accounting | Operations | Sourcing | Buying | Distribution | Marketing | Regional Business Development | Management.

Check out our Thailand Market Entry Services  and your business expansion options here.

Be equipped for doing business in Asia. Download our FREE e-Book on How to do Business in Asia

Some Common Mistakes Made By New Entrepreneurs

When you start learning a new skill you’re going to make some mistakes. It’s normal and ultimately good that you do. It might hurt in the short term, but you learn what to avoid. It’s like falling off a bike the first time that you take a turn too quickly: it’s painful right now, but you’ll never do that again if you can help it. Being an entrepreneur is no different and you’re definitely going to make a mistake somewhere. That being said, it doesn’t hurt to know about the biggest pitfalls that people fall into. Think of it like wearing a helmet the first time you go out with a bike—it helps to prevent the worst case scenario. With that in mind, let’s talk about some common mistakes made by new entrepreneurs.

To start, many young entrepreneurs are eager to discuss their ideas with anyone who will listen. This is often a bad idea. You should only discuss your ideas with people who you are absolutely sure that you can trust. There are plenty of people in this world who wouldn’t think twice about taking your business ideas – be they for a product, or a startup, or something else – and using them without your knowledge. So, to protect yourself from this you can – and should – trademark and (depending upon the specific materials) formally copyright everything you plan to discuss with potential partners and investors. This leaves no doubt that you can take legal action against anyone who steals from you.

Another big mistake that new entrepreneurs make is that of giving up when defeated. The first idea they come up with doesn’t work, or the profits aren’t as great as they’d like them to be, and they get discouraged. Soon they start to think that they aren’t cut out for the business world and they pack it in. This is not how you should handle failure. When you fail you need to keep trying. Look at what you did wrong and learn from it. Never shrug and decide that one try was enough for you. Giving up is the last option you should consider, and you should seldom consider it at all.

Though, plenty of new entrepreneurs don’t even make it far enough to be defeated. They simply give up part way through their plans out of fatigue, boredom, or fears of failure. To this we can only say one thing: finish what you started. If you back out or run from a challenge then you’re more of a failure than someone who sees their business idea through to the bitter end. Have some courage and some patience.

The saying “Rome wasn’t built in a day” is popular for a reason, and that reason is accuracy. You’re not going to be a rich business owner overnight unless you get exceptionally lucky. You’re going to have to put in long hours, make tough decisions, and wait at least a few years before you see grand success.

As Startup Specialists we have used our knowledge and experience to set up a free portal of frank, accurate information. Do check out www.startupinthailand.com for more details on doing business in Thailand /Asia or for a free startup consultation.

Aditya Interactive is  the only company in Thailand to provide a single window solution for all business startup and expansion requirements under one roof : Startup consulting | Market Entry | Legal | Serviced Office | Factory Setup | Representation | Recruitment |Accounting | Operations | Sourcing | Buying | Distribution | Marketing | Regional Business Development | Management.

Check out our Thailand Market Entry Services  and your business expansion options here.

Be equipped for doing business in Asia. Download our FREE e-Book on How to do Business in Asia

Is it a Good Practice to Recruit Smarter People than Yourself?

If you are in the position of interviewing and hiring employees then you have surely encountered one that seems more intelligent than you. It’s natural to be intimidated in these situations and you may feel hesitant to bring in someone who could outdo you with their intellect alone. But do your best to put your fears to rest, as it is generally a good idea to get the smartest workers that you can.

Of course, we understand your fears. One day you hire an incredibly smart young employee and then a year later they’ve managed to get your job. Who isn’t afraid of someone rising through the ranks and taking a promotion away from them? Who doesn’t fear competition in the workplace? It’s sometimes good to be weary.

That being said, you need to take a moment to think about the success of your business. If you go out of your way to hire people that are not threatening then you’re going to end up with unimpressive employees. These people will do subpar work and they’ll create a lot of headaches for you down the line. Training less intelligent people can be harder and it might take longer for them to get good at their jobs. They’ll make you look like you have poor decision making skills for hiring people who are ultimately incompetent.

A smart workforce doesn’t suffer from these problems. If you are hiring intelligent people who pick things up quickly then you are going to have a better functioning office. So what if they’re smarter than you? It’ll look great to your higher ups if your workplace is functioning so well. And if one of your employees does something truly great then you can always subtly mention that you’re the one who had the good sense to hire them in the first place. The success of your employees is your success too, is it not?

Another thing to consider is the type of person who might be aiming for your job. Do you think someone who sought to uproot you or replace you would give you such an obvious warning sign? Most people who wish to do such things are going to go out of their way to make you think you’re in control and more intelligent until the last possible second. People who are earnest and open about their mental facilities are generally trustworthy, as they have not gone through the trouble of hiding their strengths or weaknesses from you.

So relax and do your utmost best to hire the right employees. Yes, some might intimidate you with their brain power or their credentials, but so what? They’re going to do hard work for you and they will help to further your goals in the long run. And who knows? Maybe you can end up learning a thing or two from them and bettering yourself in the process. There’s always room for improvement in the workplace, after all.

As Startup Specialists we have used our knowledge and experience to set up a free portal of frank, accurate information. Do check out www.startupinthailand.com for more details on doing business in Thailand or for a free startup consultation. We operate as a single source for your business operations in  Thailand/Asia   with our Thailand Market Entry Services and we specialize in Startups | Representations | Regional Business Development | Virtual Offices | Liaison Services. Check out your options here.

Human Capital is the Best Asset to Your Business

Your business probably has many assets of various sorts. You might have physical property (such as a store or a factory), intellectual property, contractual agreements, and some unique tech that makes you stand out from the competition. But all of this is dwarfed in importance when compared to the all-important asset that is “human capital.”

“But what is human capital?” you may ask. It may sound like we’re referring to people as currency, but that isn’t quite right. Dictionary.com defines “human capital” as “the abilities and skills of any individual, esp those acquired through investment in education and training that enhance potential income earning.”1 To put it more simply, it’s the useful skill sets that your employees possess and make use of to help your business.

You might not have ever considered an employee’s skills to be an asset, and who can blame you for that? They’re intangible and often taken for granted. But the more you think about it the more it makes sense. How could you manage your physical store fronts without employees that were skilled in retail services? How could you manage your intellectual properties without employees that are skilled in creative work? How could you use any technology without employees who understood how it functioned? Without human capital – without the specialized skills that your employees keep honing and improving – you would have nothing.

You might be thinking “So what? Everyone has some sort of skill and it only makes sense to hire the people with skills relevant to me.” This may be true, but you should think of human capital like you think of every other asset you have. And what do you try and do with your assets? You try to increase their value.

To increase the value of human capital is to train your employees in new skills. This has two benefits for you: you get more talented employees in the end and your employees feel more fulfilled for having more use to you. Most of them will also be grateful for the option to take free lessons in a new, useful skill. This in turn raises their morale and productivity. Teaching someone a new skill can really make them happy, and it’s in your best interest to keep your employees happy.

Of course, forcing someone to learn a new skill that they don’t care about could lead to dissatisfaction. This would have the opposite effect on their morale and if they quit they might take the new skill with them when they work for a competing business. The solution to this is to make sure that they have a choice in what they learn. Even if it isn’t a huge choice, the sense of agency that it will give them might be enough to prevent the aforementioned negative consequences.

Hopefully from here on out you can utilize human capital to its fullest extent. With the right efforts your business will flourish into something greater than ever.

As Startup Specialists we have used our knowledge and experience to set up a free portal of frank, accurate information. Do check out www.startupinthailand.com for more details on doing business in Thailand or for a free startup consultation. We operate as a single source for your business operations in  Thailand/Asia   with our Thailand Market Entry Services and we specialize in Startups | Representations | Regional Business Development | Virtual Offices | Liaison Services. Check out your options here.

10 Key Steps to Ensure Your Startup Success in Asia

So you’ve decided to launch a startup and you think that Asia is just the place to do it. That’s great, but it’s not just a matter of launching the startup—it’s a matter of succeeding with the startup. A failed startup does nothing but waste your time and resources. Thankfully, we’re here with some tips to make sure that you’ll have some startup success in Asia.

1. Pick a Good Location

You might be thinking to yourself “A good location? But I already chose Asia! That’s my location!” Technically speaking, yes. But Asia is a huge continent with a highly diversified population. There are a lot of different countries to choose from and within those countries are even more areas of varying conditions. It’s best to do research and find out which countries might be the most welcoming to your startup idea.

2. Pick Good Partners

If you’re not native to Asia then the chances are that you don’t have many contacts there. You should spend some time contacting other businesses and building relationships. Having a partnership between your startup and a pre-established business can do you wonders.

3. Come Up With a Clear End Goal

You need to walk into this situation with an idea of how you want it to turn out. Yes, you want it to be successful, but in what ways? Are you trying to develop a new business model? Are you looking to experiment with new technology? Figure out what you’re aiming at before you take the shot.

4. Commit to the Startup

If you want to really succeed then you’re going to need to commit to the startup. You can’t abandon the plan halfway through or get cold feet. Ride things out to get the best results.

5. Think of the Startup as an Experiment

You need to go into things with the understanding that startups are experimental. Not every experiment goes the way you want it to. Some succeed, some fail, and some have totally unexpected results. Just because things go differently than you anticipated doesn’t mean that you have necessarily failed. Try to find positives if you don’t meet your end goal.

6. Hire the Best Talent for Your Startup

If you are lazy or cheap with who you hire then you’re going to set yourself up for defeat. Pick people who know what they’re doing and don’t hire from your already established business. You’ll want fresh blood for this.

7. Learn the Culture Early

Before launching your startup in an Asian country you are going to want to study their culture. Some things that we think are fine might be offensive in some Asian countries.

Likewise, some things we might find offensive might be expected. Don’t ruin your startup by ignoring the society it’s aiming at.

8. Decide on Associations Before You Begin

Do you want to associate your startup with your already established business? Consider your business’ reputation in the target country before deciding.

9. Don’t Be Afraid of Failure

If you spend all your time concerned that you’re going to fail then it may end up being what causes you to fail. Failures are a part of life and without that you will never get the satisfaction of success. So embrace failures  as your step to success.

10. Take What You Learn and Apply It Elsewhere

If your startup is truly successful then you’re going to need to figure out what worked to make it that way. If you can, scale that up and apply it to your other businesses.

As Startup Specialists we have used our knowledge and experience to set up a free portal of frank, accurate information. Do check out www.startupinthailand.com for more details on doing business in Thailand or for a free startup consultation. We operate as a single source for your business operations in  Thailand/Asia   with our Thailand Market Entry Services and we specialize in Startups | Representations | Regional Business Development | Virtual Offices | Liaison Services. Check out your options here.

5 Essential Things People Often Forget While Considering a Business Startup

When people think of launching a business startup (or applying to work at one) they usually spend their time worrying about how popular the startup will be or how long it’s going to last. These concerns are valid, but they leave out some important points that everyone involved should consider.

1. Experimentation is Good

When concerned with the longevity of a startup you might start trying to model it after previously successful businesses. This can work, but it destroys the chance for experimentation that can only happen on the small scale. Before you make the decision to keep everything uniform and normal try to come up with some things that a big business would never be able to risk doing out of the fear of the unknown, or just come up with things that you’ve always wanted to try. What other opportunity will you have ? Sure, it’ll be risky, but…

2. Risk is the Whole Point

If you want job security then get away from startups all together. Job security can be found at bigger companies with standardized ways of doing things. Startups are supposed to be new and inventive, but with those qualities comes risk. Risk is a given. Risk is the whole point. Without risk there is no chance of reward. So stop being so concerned about it and commit yourself to doing your best.

3. Consultants are Your Friends

Not ready to throw caution to the wind? Then seek out help from a startup consultant. You might feel some sense of pride in having a startup where you call the shots, but if you don’t have a lot of experience and you’re feeling concerned about something then you should call a consultant. Startup consultants know what they’re doing and they might be able to save you from some poor decisions that are more common than you thought. Speaking of commonalities…

4. It Might have been Done Before

That’s right: your totally unique idea that you spent so long perfecting might have been done before and, what’s worse, is that you probably never heard about it. This doesn’t bode well for anyone, so look into failed startups (and successful ones, for that matter) before you move forward with any idea. This is where that consultant we just mentioned can really come in handy. They’ve probably been around the block a few times and they might be able to tell you if they’ve heard your ideas before you came up with them. If they have, and the ideas didn’t pan out, then you might be able to learn what adjustments you need to make to succeed. Or, if worst comes to worst, then you can stop early and avoid total failure. That being said…

5. Failure IS an Option

Look, no one wants to fail, but it’s an option here. Don’t be afraid of it and know when it’s time to throw in the towel, even if doing so hurts your pride. Sometimes even the best ideas

don’t work out, and sometimes you need to decide between giving up on something or going bankrupt in the pursuit of startup success. Don’t ruin yourself for the sake of a startup.

As Startup Specialists we have used our knowledge and experience to set up a free portal of frank, accurate information. Do check out www.startupinthailand.com for more details on doing business in Thailand or for a free startup consultation. We operate as a single source for your business operations in  Thailand/Asia   with our Thailand Market Entry Services and we specialize in Startups | Representations | Regional Business Development | Virtual Offices | Liaison Services. Check out your options here.

How to setup a company in Thailand

Thailand is a country that once visited, tends to stay in your blood. It is hard for most to experience the happy nature of Thai people, stunning scenery and weather, only to return to a normal life back home. The draw of life in Thailand draws many to return, often on a permanent basis.

The Thai business market is also a very interesting one. Thailand is a developing country, but far from being rated as third world. This means that there is a good quality of life, combined with a market place that is full of opportunities. From production to service sectors, there is a lot of money to be earned by entrepreneurs in the expanding Thai market.

It is for these two reasons that many decide to setup a company. However, before doing so, there are certain laws that need to be understood. Thailand has restrictions on business that apply to foreign owned companies. That said, with a good lawyer and the correct setup, the Thai business market can be cracked wide open.

How to structure a Thai company

Thai law is quite complicated when it comes to business, but thankfully there are ways to simplify things. As a foreign entity, you and your business operations are restricted. This means that if you own over 49 percent of the shares, then you may have to follow the foreign business restrictions.

The way around this is to have a couple of Thai business partners, or nominated partners, to register the company as a Thai private limited company. This then allows the business to do almost anything that is legal for a Thai person, as it is now classed as being Thai. Yet, the company can be under the full control of the foreign owner; to ensure your investment is safe.

To give control to the foreign owner, the foreign shares can have weighted voting rights, or the foreigner can be the sole signatory on the company. This means that despite having Thai names on the shares, the foreign business investor can have complete control. If you have real and active Thai business partners, this can also be setup to give you equal voting rights and control, regardless of the lower amount of shares held. For most, this adds a nice level of security to owning a business in Thailand.

Hiring a specialist for company registration

Due to the legalities involved and paperwork required, most people never try to register a Thai company on their own. For a start, most of the paperwork will be written in Thai script. Any that isn’t already in Thai, will need to be translated. Then there is a certain order to the registration process and many elements of this process require previous phases to be completed before they can be actioned. If you are not experienced, it can be very confusing.

Thankfully, hiring a Thailand market entry specialist isn’t very expensive. They can help you to get everything registered legally and hassle free. However, they can then also be your personal ‘in country’ support. Being a marketing and business professional themselves, they can connect you with the right people and help you to arrange whatever you need to get your company making a profit quickly. Contact the Startup specialists to check out the various options that they have to offer for starting up a business in Thailand.

For more detailed overview of how to register a company, work procedures, visa & work permits, check out this legal assistance section.

As Startup Specialists we have used our knowledge and experience to set up a free portal of frank, accurate information. Do check out www.startupinthailand.com for more details on doing business in Thailand or for a free startup consultation. We operate as a single source for your business operations in  Thailand/Asia   with our Thailand Market Entry Services and we specialize in Startups | Representations | Regional Business Development | Virtual Offices | Liaison Services. Check out your options here.

A Team With Good Attitude Can Ensure Your Business Success

If you’re running a business then you need to have high quality employees. Period. There’s no getting around it. If you cut corners when hiring then you’re going to cause yourself a lot of trouble down the line. That being said, it’s hard to know what to look for from applicants. You need someone with relevant experience, of course. You’re surely looking for people with the appropriate education. But more important than any of that is selecting people with the right attitude.

This might seem counter-intuitive to you at first. After all, how could attitude ever be more important than the degree a person has, or the years they’ve spent gaining experience in a relative position? But, think about how dangerous an employee with a bad attitude can be.

For starters, those with a negative attitude towards work can spread their negativity to their fellow employees. All it takes is one employee with a sufficiently bad attitude to ruin another employee’s day and give them a similar attitude. This can in turn spread to another employee, and then to another. Pretty soon you’ll have an entire office or workforce full of people who resent each other and the job they’re doing. They might even grow to resent you or whomever else serves as their authority figure.

Now think of the opposite situation:  you’ve hired an employee with a fantastic attitude. They have the degree to match your qualification, but they don’t have much relevant experience. And yet they are a constant joy to work with. Their fresh perspective and go-getter attitude keeps even the grumpiest of veteran workers a little peppier than usual. Their positivity spreads as if it were contagious and morale raises. With the increased morale comes increased productivity. In a year or less the employee has acclimated to the office and gained the experience they need to be their best, and in the meanwhile they’ve given everyone else a boost.

Of course, we are not suggesting that you hire based on attitude alone, as that would not produce the best results. You must look for candidates that have both a good attitude and the right credentials. But if it comes down to a choice between two similar candidates then you should always pick the one with the best attitude. Even if that candidate has a slightly less impressive resume, you’re investing in the one who can do the best for your office or work environment as a whole.

Life in any workplace is not something to be navigated with skill alone. Different people will handle it in different ways. Some people will hate their jobs and have a pessimistic attitude. Others will love every second and be grateful for the opportunities you’ve given them. Choosing those of the latter qualities is best. Attitudes can create good waves or they can spread like a destructive wildfire. Do your utmost best not to get burned by bad hires!

Bottom-line – An Employee’s Attitude is the Most Important Qualification – One that You Must Look for While Hiring

Of course, if you personally hate the employee recruitment process or need any assistance, check out for here for more details on what we can assist you with.  Just contact us with what you need and we’ll take care of the rest.

As Startup Specialists we have used our knowledge and experience to set up a free portal of frank, accurate information. Do check out www.startupinthailand.com for more details on doing business in Thailand or for a free startup consultation. We operate as a single source for your business operations in  Thailand/Asia   with our Thailand Market Entry Services and we specialize in Startups | Representations | Regional Business Development | Virtual Offices | Liaison Services. Check out your options here.

How to tackle initial Business Startup Challenges

Starting a business

Starting a business can be an exhilarating and intimidating challenge. Every year thousands of businesses get started across a wide range of industries. The feeling of getting started on a new business venture cannot replace three facts on how many of these start ups fail. Start up businesses have a high fake rate. As many as one in three businesses fail within their first three years. Many studies have shown the failure rate for  start up businesses being so high as attributed to poor planning.

Experiencing a downturn in a start up is expected, but with lack of planning a downturn can be mistaken for the beginning of the end of the company. Behind every successful business has come errors. Creating contingency plans are best and have to be created beforehand to increase the odds for success. Confidence does not replace proper planning. Knowing the business will work is separate from knowing proper planning will be in effect. The excitement of starting a business should not overshadow planning and homework is necessary for market research. Below are some other contributing factors to start up problems.

Inadequate Funding

Finding money is always a challenge. Securing money can be the toughest part of starting a business. If the funds are from a bank or an angel investor, both come with their own set of challenges. A business plan is key and you become familiar with your industry from the standpoint of your competition. The viewpoint of your competitors leads to a planning advantage. Banks are usually hesitant of lending money to a new company. The lack of credit history poses a questionable format as the fact of the matter of projections versus a steady history.

Another concern, even if money is had to begin the business, is how does a new company stay afloat enough to begin to be a serious player in the game of business? Between start up costs and outstanding debt it can be a challenge to take advantage of early buying opportunities and business discounts. Just as with the banks, vendors are hesitant to extend credit to start UPS and will require payments upfront. Angel investors take time to cultivate and must always be onboard with the vision of the start up as well as it’s potential for growth.

Marketing

Start ups are starving for marketing in order to speed up the cash flow and profits. It is exciting to start creating commercials, but not best when the research has not been done for the market. Target marketing is key and a start up may need more professional hands in order to effectively meet the goal. Costs associated with advertising and promotion can be steep. it may not be relevant to invest in radio ads only to find the target audience is only online. Print ads may be a better option for certain types of start ups while others need only digital ads. Create a marketing plan to identify cursors. By now your company should havea unique selling proposition that can be used as the voice to gain potential customers’ attention. Every marketing move needs to be customer centered.

Many start with creating a website. This piece of digital real estate is always a good investment. Starting simply with a website could simply mean allowing customers to learn more about the business and sharing the story of the company as well as what is coming next. Once the customer is on the website a company can also capture email addresses in order to stay connected to them. By having email addresses future information can easily be shared visa an email marketing plan.

Digital marketing is a part of the overall marketing pan, so bring certain to have a social media marketing plan is an essential part. Studies have shown the people trust a company more if it has a website and an online presence in social media.

Online, people can find their own information without having the intimidation of speaking directly with anyone. The consumer can make decisions about working with your business all from clicking online.

The social media marketing plan can be as diverse as the target audiences, or as simple as updating regularly to maintain engagement. The networks are varied and social networking goes beyond Facebook and Twitter. Again, the proper research of target markets will aid in deciding how to approach social networks. The audience of the company may be on Snapchat or prefer Pinterest. The planning stage also marks for not wasting time on certain networks that will not benefit the company. Treat the digital marketing plan as a part of the overall marketing and public relations plans. Many business treat social media marketing as the only form of marketing and tend to forget about other forms of outreach to gain attention. All of the marketing wheels moving together can compliment each other. Where one area may fall short the other can make up for it and the complimentary factors will create a cohesive brand image. Each message is consistent with the company’s goals.

Staffing Problems

Yet another challenge faced by new business others is hiring staff. Anther part of this equation is firing staff. Attempting to  run a business alone is a common mistake. Hiring fulltime or parttime employees is necessary. The members of the staff can vary, buy it is important to have a team comprised of an attorney, an accountant and a secretary. You may not hire the later out accountant in a fulltime capacity, but they need to be on your team. Naturally, as the start up expands more staff is added.

Learning how to effectively lead and manage a team are skills not everyone has. Office politics can lead to an implosion of unnecessary time and energy on non-productivity which can cost a start up company too much money. Seeking the assistance of a leader who can guide on better selecting staff is a wise step. Consulting with others can give better advice on signs to recognize and ways to lead which also motivate staff. Staffing may require hiring and firing several members in order to gain a more balanced and ideal solution.

Established Competition

No competition week advertise less because a new business has begun. If anything, the established business will push harder so as to rock the boat of the new business. The more established business may or may not know about your business, but they will continue on their own path. As they already have the business relationships and deals that a new buddies may not, they will continue onward while the new business waivers and tries to gain footing. In this mobile and digital age oftentimes a new business can take advantage of the market with quicker customer service and the ability to get things done without company bureaucracy.

Success stories have been had by many smaller businesses. For example, the company that took advantage of Twitter by taking orders via tweets. There are many digital success victories that can be used as an inspiration to up and coming companies.

Big name companies can be intimidating, but it is not a lost battle. Again, proper planning can lead to success.

Anticipating complications and issues are a necessity. Proper planning gives an analysis of the business idea and the execution depends on it.

Which types of challenges are you facing in your business start up ? Have you found yourself in a tumultuous time, or feel stuck at a step in your business planning ?  Contact us and we can assist with a free consultation. In case if you are thinking of establishing business in Thailand and not sure how to go about it, make sure you take our free online business consultation for an immediate solution.

As Startup Specialists we have used our knowledge and experience to set up a free portal of frank, accurate information. Do check out www.startupinthailand.com for more details on doing business in Thailand or for a free startup consultation. We operate as a single source for your business operations in  Thailand/Asia   with our Thailand Market Entry Services and we specialize in Startups | Representations | Regional Business Development | Virtual Offices | Liaison Services. Check out your options here.

Success of Small Businesses in Asia: Is Asia Really Booming?

You have no doubt heard that small businesses in Asian countries are doing incredibly well, but who can help but be a little skeptical when told of such a miraculous boost? It’s always best to look into claims of this kind before acting on the information you’ve been given, which may very well be what has brought you to this text.

Well, we’re here to tell you that the rumors are true:  small business in Asia is booming, and it doesn’t seem to be slowing down anytime soon.

The next question you may have is a simple one:  “why?” To start, Asia is a continent with many countries, most of which have a high population densities. According to Freebase, Asia has a total population of about 4.3 billion people.

That’s more than half of the total world population concentrated onto one continent. Within this huge populous there are countless demographics and niches to fill. If you can think of a product, then there’s probably a part of Asia that you can sell it to.

Of course, this leads to high competition within some countries, but no one business can handle the whole continent. It’s best to do research into who else is providing services similar to that of your business, so that you can know what locations will be worthwhile to set yourself up in. But, whoever your competition is, they will likely have a few blind spots (countries, or districts) that they have not yet monopolized. These areas are the ripest for the taking and they may allow you to gain a quick foothold within the Asian market.

While you’re looking into the competition it’s also good to scope out who might be an ally to you. Finding potential business partners in Asia is relatively easy due to the diverse businesses operating there, but it is nonetheless useful. Building a good business relationship with already established entities could lead to a more simplified expansion, an easier development of distribution channels, and a nice support network of businesses that have an interest in your success.

If you are lucky enough to dream up a business that no one has spread through Asia yet, then you may want to act quickly. New businesses are cropping up all the time and you may not be the only one to have your bright idea. It’s always a shame to miss out on such a good opportunity due to hesitation. That being said, the research you do before moving your business into Asia is crucial, so you should be sure not to rush it. Sloppy research might lead to failure and financial losses.

In short, small businesses are doing great in Asia, and they will likely continue to do great. If you want to get in on all of the success then you need to choose the right country and the right niche to fill. It all comes down to making good choices in the end, so do your homework.

As your Asian Director, I can of course help you with all of this. From partner business, to finding the right niche … just ask and I will do everything I can to make it happen. Find out more here about how I can help you.

As Startup Specialists we have used our knowledge and experience to set up a free portal of frank, accurate information. Do check out www.startupinthailand.com for more details on doing business in Thailand or for a free startup consultation. We operate as a single source for your business operations in  Thailand/Asia   with our Thailand Market Entry Services and we specialize in Startups | Representations | Regional Business Development | Virtual Offices | Liaison Services. Check out your options here.

Business success depends on these 5 important People Management skills

People management skills are essential to the smooth running of any business. Anyone in a position of authority over others deserves to have the correct training. With correct and fair approach to people management and development, the results can be astounding. However, when poor approaches are applied consistently, eventually that section of the company will struggle and likely fail.

Fortunately, learning and applying the correct approaches isn’t that difficult. In fact, often when you learn these skills, you get that ‘oh, of course’ moment as you realize it just makes perfect sense. So, here are our top tips for people management:

Top 5 People Management Skills

Role Model : So obvious, and yet so often overlooked. You can’t expect your team to be kind, helpful and supporting, unless you show these traits too. You are their leader, they will mimic and respond to how you act. If you are always stressed and shouting at people to vent your frustrations, chances are your team will do the same. Act as you expect them to act, set the standard.

Logic and Organization: I’ve put these together, as it is hard to have either separately. Generally, if people are organized, then they are logical too. A logical and organized approach to team leadership is a must. It will help things to run smoothly and to make sense to your team. Actions will be backed with reasons, work approaches set out with logical steps and the direction of the team made clear. Management acting in a clearly organized and logical way will inspire confidence. It often affects how the team works as well, as if the manager has things organized and looking professional all of the time, chances are that most of the team will emulate this behaviour. So, you need to be careful with this, as the opposite is also true.

Work Relationships: No, we are not talking about work affairs here, but rather the professional relationships that you build at work. You need to be able to support your team, being patient and helpful. If people can approach you and you can discuss things in a calm manor (even when you strongly disagree), it will help to create stronger bonds. Using emotional language with your team will also help to motivate them, as although logic is required, it rarely inspires. Your job is to drive your team, so use emotional language to drive them forward.

Share Your Knowledge: Much of what happens within a team will also reflect the knowledge of that team. If you have learned new ways to support and motivate, consider if this could be useful to your team. Sometimes the use isn’t obvious, but imagine that you setup your team to support and motivate each other … suddenly the knowledge you shared is doing the work for you.

Communication Skills: If you don’t already have good skills, you need to work on them. The outcomes of all of the above approaches will largely be determined by your communication skills. Practice your written and spoken communications, especially using emotional language. This is also vital for those that deal directly with customers. Good communications will change your business in a positive way. Communication, whether written or oral, should be clear. Many normal sentences are vague in everyday conversations. For business, communications should not be open to interpretation. They should be concise, providing all the required information in an easy to understand way that is not open to interpretation.

Use these approaches to people management and you should start to see some improvements quickly.

Feel free to contact the specialists in human resources for more suggestions and advices.

As Startup Specialists we have used our knowledge and experience to set up a free portal of frank, accurate information. Do check out www.startupinthailand.com for more details on doing business in Thailand or for a free startup consultation. We operate as a single source for your business operations in  Thailand/Asia   with our Thailand Market Entry Services and we specialize in Startups | Representations | Regional Business Development | Virtual Offices | Liaison Services. Check out your options here.

6 crucial points to ponder while setting up a branch overseas

Gone are the old ways of having to do business. Long ago, those who wanted to do business in another country besides their own, had to brave the seas. Later they had to take abnormally long flights and stay for weeks to get to know the culture or language, then to develop a trusting relationship.

Today’s market makes way for an easier canvas. Creating a business overseas may be less risky and more economically sound than bring in one’s home country. Some key elements are to be considered when setting out to do business:

1. Politics & Property

We always hear in the news the dangers of getting settled in to a country only to have authorities seize everything. Other countries have full access to foreigners. You need to evaluate the pros and cons on the country specific political scenario and how it might impact your business in the long run. Political stability in a country is often the best choice but it might be still better to find out a country which is more promising in business with little lesser political stability. Right evaluation is country selection is the first step in your company expansion process.

2. Economics

A growing middle class and low or declining unemployment are good signs of a country to consider creating your business. Strong consumer spending is also anther clue to beginning to research more as to where your business could set up.  You need to research on the past few years data on the country economics and choose ones which has stable economic growth.

3. Your Knowledge

Local market knowledge is absolutely essential to get things moving a the right pace is the shortest possible time. If you are not an expert in a field you can always get assistance to manage business on the ground and to get set up. Partnering with a knowledgeable and trustworthy company can increase success rates. There are specialist companies who have market experience  and having full infrastructural facilities to support your branch operations would be ideal. To check out some specialist companies in Asia, you may click here. Normally there are many ways of setting up your branch operations. It depends on what business you are in and what options would be the best for you. You may  like to check out some of the options here.

4. Market Research

A significant amount of time should be focuses on analyzing spending habits as well as the time needed to get the job up and going. Startup Specialist companies can aid with conducting surveys and giving a realistic view of the capital needed, market demand and business scope. Lot of companies spend at least 3 to 6 months in market research before setting up their branch. Time well spent before is better than repenting later  – on things which might prove to be shocking.  In case of a joint venture, it is quite pertinent to have a due diligence done on the collaborating companies. Local Startup Specialist companies can help in this regard by providing in-depth health checks by finding out their financial stability, customer relationships, social status, vendor creditworthiness etc.

5. Languages

Two people can have one conversation and walk away with two different perspectives and stories. That is the scenario when the language is of a mutually native language. Imagine two people with carrying cultures and languages. Most of the Asian countries predominately speak their own language rather than English, so it often creates a big wall for foreign entrants. Imagine a scenario, where you want to register a company in a particular country, only to find that the lawyer does not speak your language nor the documents that you need to sign are in English. Hence, it is important to seek the assistance of those who are capable of understanding the local language.

6. Incorporation

Every country has procedures on filling paperwork for incorporating a business. The time can vary from one day to several weeks. Also costs will vary, depending on country and the service charges of the lawyers. Of course, as a business owner, having a business degree helps to determine the right choice and way to incorporate your organization; but seeking the advice of an experienced company can aid in the hurdles. There are so many ways to incorporate a company and so many various alternatives to startup your branch in a country that often it becomes bewildering for a foreign counterpart. If you are thinking of establishing in Thailand, you may like to have a look at this link for all your legal assistance. Alternately, you can have a free online business consultation for an immediate consultation by clicking here.

As Startup Specialists we have used our knowledge and experience to set up a free portal of frank, accurate information. Do check out www.startupinthailand.com for more details on doing business in Thailand or for a free startup consultation. We operate as a single source for your business operations in  Thailand/Asia   with our Thailand Market Entry Services and we specialize in Startups | Representations | Regional Business Development | Virtual Offices | Liaison Services. Check out your options here.

How to ensure growth for your startup ?

Startups – be they in the form of businesses, partnerships, or organizations – can be incredibly useful to an already existing business or corporate entity. If used correctly, a startup can lead to the healthy growth of your business. However, there is a right way and a wrong way to go about things when it comes to startups, and you most definitely don’t want to do things the wrong way. So let’s talk about how to make things go smoothly.

When considering a startup you first need to figure out what your end goal is. Startups are often used as a testing ground of sorts that allow you to try out different ways of doing business (with the hopes of it growing into your main income/business), including some new and experimental business models. Deciding how to run the startup and what to try is what will ultimately make or break your success. Go into things with a clear idea of the results you want to get. Work backwards from there while determining the method you’ll use.

Now, when you’re dealing with the actual startup you need to put your full force into it. If you want to try out something new or unusual then don’t do it halfheartedly. Just do it as completely and as fully as you possibly can. If you can’t take the plunge and let your startup be the experiment that you need it to be, then you might find it a failure regardless of what theories you walked in with. You cannot be afraid to take risks or to try new directions, because there’s no point to it otherwise.

Keep in mind that your startup does not need to be a separate entity from your main business. You can have an internal startup that works under a different brand or business model, but that is ultimately still owned by your already existing business. You can also have the same existing business, but starting up in a foreign land. You would still be wise to hire fresh talent for it and to keep its public image separate from your already existing business. This keeps you – and everyone working for you – safe from any fallout that a failed startup might bring with it.

Once you manage to create a successful startup – which might take a few tries, mind you – then you have a few options. One choice is to maintain it and allow it to grow into something larger. Another might be to take what you’ve learned from running it and apply the new ideas to your already existing business. Sometimes taking the business models you’ve used with the startup and scaling them up for your bigger business can lead to fantastic results. Other times, what works on the small scale might not work on the large scale. Use your best judgment when deciding how to proceed and think hard on the best course of action.

One way or another, a good startup can foster growth. Be it the growth of the startup into a larger asset or the growth of your company, you can count on positive results if – and only if – you handle the situation correctly.

Starting Business in a Speciality task, let Startup Specialists do it for you. So, if you are ready to take the dive and give your idea your full attention, contact us and let’s see if we can make this work!

As Startup Specialists we have used our knowledge and experience to set up a free portal of frank, accurate information. Do check out www.startupinthailand.com for more details on doing business in Thailand or for a free startup consultation. We operate as a single source for your business operations in  Thailand/Asia   with our Thailand Market Entry Services and we specialize in Startups | Representations | Regional Business Development | Virtual Offices | Liaison Services. Check out your options here.

Mediocrity in your business will not find you good employees

People often think of job interviews as something the applicant has to struggle the most with. There are images conjured up of the individual being interrogated, sweat dripping down their neck, the interviewer’s questions weighing heavily on their anxiety. These images – while sometimes close to reality – are not true in all circumstances. When it comes to hiring people, it isn’t just the applicant that needs to be impressive — it’s the business as well.

Consider the following situation:  you’ve gone into a job interview and you’re wearing your nicest clothing. You get through the waiting room, only to see a lackluster office with a disenchanted, uninterested person sitting there. They hardly care about interviewing you and they bring no energy to the room. You can tell that they probably hate their job and that they’re really faking it. All the same, you nail every question and you get a call saying that the job is yours. But, do you still actually want it? Probably not.

Just because an interviewee gets offered a job does not mean they’re going to take the job. If your business does not look like a comfortable or productive work environment, then you’re going to end up scaring a lot of applicants away. Who wants to work at a place where everyone seems miserable? Who wants to work somewhere that looks like a career dead end? No one but the most desperate of applicants, that’s who.

 Mediocrity Awes No One When You’re Considering Hiring!

It is therefore important that your business does not seem utterly mediocre when you’re attempting to attract new hirees. The kind of employee you want to work for you will ideally be qualified enough to attract multiple offers from different employers. You won’t be the only one offering them a job and they might take up a competitor’s offer, especially if your business looks lackluster. This could be the case even if you’re offering more money or benefits. Appearance and environment can mean everything sometimes.

To avoid all of this you’re going to want to be careful about your interview process. Select the right employees to conduct interviews. Make sure they have a nice degree of enthusiasm, but that they are simultaneously reserved enough to keep the applicant comfortable. Be sure that they can speak confidently and earnestly about the job in question, but also make sure that they can do so in a conversational way that the applicant will understand. You should also go through the trouble of ensuring that the interview area is clean and properly decorated. Subtle things can be incredibly important here, you want to attract, but don’t go overboard.

Remember:  if your business or employees come across as mediocre, then all you will attract is further mediocrity. If you want to hire high quality employees then you are going to need to look like you are running a high quality business. In this way, the interview process puts just as much pressure on the interviewer as the interviewee, so consider all of this next time you have a spot to fill.

Find out more about recruiting the right persons from the specialists in Human Resources 

As Startup Specialists we have used our knowledge and experience to set up a free portal of frank, accurate information. Do check out www.startupinthailand.com for more details on doing business in Thailand or for a free startup consultation. We operate as a single source for your business operations in  Thailand/Asia   with our Thailand Market Entry Services and we specialize in Startups | Representations | Regional Business Development | Virtual Offices | Liaison Services. Check out your options here.

Is Cloud Computing Really Effective for Small Businesses ?

Well, to answer your question in one word, it is “Yes”. The Cloud computing is really quite effective for small businesses. We have explained in this article about why we give support to cloud computing. This approach is catching on across many industries now. Security, data safety and convenience are all a part of the attraction.

First of all, you need to understand what is cloud computing and how it is going to be beneficial for you. Do, here we set it out in an easy to understand way. After all, this could be extremely beneficial to your company, but only when you understand it’s full potential.

Cloud Computing in basic terms:

It is a technology through which one’s files and data can be stored on a remote server and it can be accessed through internet if one has the proper credentials. Normally these files can be automatically synced across multiple computers and/or users.

Now that you understand what it means, you would like to know if your small business really needs to go for cloud computing. So, let’s see if the following could help your company to work more effectively.

Benefits of Cloud Computing:

You need not go for Cloud computing just because the entire world is getting onto it. Just see the advantages and benefits for yourself before deciding to go for it. It’s a personal choice, but when the benefits are considered, most businesses can find useful benefits.

  • It is very cost effective: With no cost on hardware or software, you would not be investing on servers for storing of data. And, there will be no cost related to maintenance too. So, the small businesses can focus on being competitive and be free of these costs. Some services may require fees for larger data storage, it just depends upon your requirements. However, most associated packages are very affordable.
  • It is convenient: You could be based anywhere and operate out of anywhere without worrying about transferring your data or servers. You would be able to access the data from just about anywhere in the world.
  • Simple to use: You need not have any technical knowledge or invest in IT staff. The Cloud computing companies will help you retrieve your data very easily and will maintain it too. So, no worries of downtime or losing IT manpower.
  • Synchronization of data in real time: The synchronization of data on all the devices on cloud happens in real time and the data will always be updated. Even backups are kept by most companies, so if you delete something or change something in error, you can return to the last backup of the file.

 Demerits of Cloud Computing:

After discussing the benefits of Cloud Computing, the demerits are quite limited but one needs to understand them too. It is the question of security. When you rely on a third party with your data, you need to ensure that your data is safe too. So, don’t go to just about any cloud computing service but go only to a reliable one, one that has been established a while and that has a good reputation.

 Conclusion:

Small businesses can reap the maximum benefits out of cloud computing as they are really cost effective and they need not have a big force to manage its data. It adds data security and flexibility to new startups.

As a small business owner, you might require lot of assistance in multiple fronts, to move ahead with your business and at times you might wonder if there was someone to help, be it in technology, marketing, designing etc. Do not worry, the Asian Director has an all around solution for you. Get in touch with him for a friendly, obligation free chat.

As Startup Specialists we have used our knowledge and experience to set up a free portal of frank, accurate information. Do check out www.startupinthailand.com for more details on doing business in Thailand or for a free startup consultation. We operate as a single source for your business operations in  Thailand/Asia   with our Thailand Market Entry Services and we specialize in Startups | Representations | Regional Business Development | Virtual Offices | Liaison Services. Check out your options here.

Can You Really Measure ROI for Your Social Media Marketing ?

The investment in social media is on the rise. As more and more businesses realize its true potential, the number of them spending money on it grows. It gives you the opportunity to reach out, build a rapport with customers, build a brand, and market yourself. Of course, as a business owner, you are going to want to prove that this investment is actually paying off. The results are difficult to track for many, so doing so might seem harder than it should be. With the right tools and approach, however, it is possible. You can keep track of your movements and you can stay on top of your ROI to make sure that your investments are actually pulling through for you.

So, let’s take a look at some of the main ways that you can approach tracking your return on investment for social media marketing.

Google

A lot of the people who wonder if you can really measure ROI for social media marketing are not considering one powerful tool: Google. Google is more than a search engine and it has become one of the most trusted tools for businesses. You can use it to track web traffic and what people have been saying about your business or your marketing campaign. Seeing the information for yourself will help you to understand how much your marketing has done for you.

With advanced traffic analysis, Google can show you exactly which social media networks are getting you traffic. You can also track your keywords that are working, global traffic analysis to see which countries like use the site and much more. Check out Google Analytics for more information.

 Do the Math

Looking into the information yourself is not difficult, either, though it may be time consuming. As you start investing in social media, keep track of how much money you are using and gaining. Look into traffic numbers, what people are saying, what the conversations are about, and how your business has improved, or, in some cases, has worsened. Using all of the information available to you will give you a clearer idea of how effective your social media marketing has been for you. Just keep in mind that there are other facts that change your business’s image, profits, and popularity, so what you see may not always be a direct result of your marketing.

 Use Analytics Tools

If you can afford it, and if you want to spend a bit more for specific information and greater help, you can purchase some of the specialist social media analytics tools available. These will give you the detailed information that you need to measure your ROI accurately. If you do choose to do this, make sure that you pick something reliable and effective. You want the information to be on point if it is going to help you at all. However, these normally come with a reasonable monthly fee, as they provide extremely detailed reports for most social media platforms.

For in-depth guidance and online promotional activities, please contact Aditya Interactive for more details

As Startup Specialists we have used our knowledge and experience to set up a free portal of frank, accurate information. Do check out www.startupinthailand.com for more details on doing business in Thailand or for a free startup consultation. We operate as a single source for your business operations in  Thailand/Asia   with our Thailand Market Entry Services and we specialize in Startups | Representations | Regional Business Development | Virtual Offices | Liaison Services. Check out your options here.

Setting up your Thai company | Initial Thoughts

Setting up your own company is always a big decision. This is even more so when you setup a company in a foreign country. Business registration in Thailand is a different process to most Western countries.

The reason for this is that Thai law generally tries to protect Thai people and land. However, as with most laws and processes, there are exceptions and workarounds.

Who will your partners be?

Unlike in the UK, where it is easy to register as a sole trader or independent contractor, in Thailand you have to form a company. Partnerships are available, but often the protection for investors isn’t as good as with a PLC. In this case, PLC stands for private limited company.

However, to create a PLC company, you must have at least three people involved. They must be shares holders too. This means that you need to have investors, or a lawyer that can arrange this for you.

Thai Business Restrictions

As I mentioned at the start, Thailand has laws to protect Thai people. These laws also include restricted areas of business for foreigners. However, your company can actually be registered as a Thai entity.

What does this mean? Well, simply that if 51% of the shares registered are Thai owned, then the company had similar rights to a Thai person. This means that it can buy land and even trade in the restricted business areas.

To do this, it is best to talk with a startup consultant. There are ways to protect foreign investors, while allowing the company to be registered as Thai. Such things as preferential shares that hold more voting power, contacts showing repayment of investment back to share holders, and sole foreign director/signatories are all options.

Liabilities of shareholders

This is something that many people worry about. However, with a PLC, liability is greatly restricted, if not protected. With a standard registration, a person is only liable for the value of the shares that they own. Liability can’t go beyond this value.

However, for most businesses, it is unlikely that you will ever have a problem. Many business types can’t actually cause serious injury or damage to someone’s income/business, and hence, are very unlikely to ever have an issue.

As with any country, the key is to have good safety and risk management, combined with good insurance. A decent business insurance policy will pay any possible claims and will normally also handle the legal side, as to reduce their own expenses.

This way, you can protect yourself from potential issues before they arise.

The registration process

Any good lawyer can handle this for you. There are numerous steps, but most are fairly straight forward, so long as all investors and signatories are available to sign papers and if necessary, to visit offices (normally not required).

For more informations about Thailand Market Entry procedures and registration processes, you may check out the options here

As Startup Specialists we have used our knowledge and experience to set up a free portal of frank, accurate information. Do check out www.startupinthailand.com for more details on doing business in Thailand or for a free startup consultation. We operate as a single source for your business operations in  Thailand/Asia   with our Thailand Market Entry Services and we specialize in Startups | Representations | Regional Business Development | Virtual Offices | Liaison Services. Check out your options here.

The Era Where Everything Is Online

The Thai society and the internet are inseparable these days. It is the most important channel that the society receive news, communicate with one another, watch televisions and TV shows, and be connected closer to businesses. It is the same for the businesses, it is not possible to leave out the internet channel to connect to the consumers. And it is also not strange anymore to see business leave out the offline channel and focus on only online portals. In the upcoming years, you will see a lot of online-only businesses more in Thailand because of the internet growth among the society very widely.

There are many online business models existed already in the online world, which are:

  • Sell products
  • Advertising and Marketing
  • Review and promote products
  • Marketplace
  • To be in a part of the market place

For the first model, sell product, it is probably the most common and well-known model. The biggest online product seller is amazon. The benefits of this business is that you do not need a fancy shops because no one is going to see it. You can have as many products as you want since you do not have to worry about the space. All you need is a good website, inventory space, good web hosting, web security, and some people to manage it. That is all then you have your own online shop without too much hassles.

Advertising and marketing model business is simple. It is basically a website of your business but usually you do not sell your products and services here. Just the company explaining and showing who they are, what they are doing, what they are selling, contact information, and news. An example of this kind of model is Thai Life Insurance. When you do on their website, you cannot buy or sell anything, all you get is the company’s information and how to buy their products and services. It is important for a website to own their website homepage because internet channel is said to be the most effective channel among the other marketing channels. Every offline business, nowadays, have their own websites for this purpose.

For review and promote products model, usually come in a form of blogs. It is not so typical seen in Thailand but everything has started. An example of this kind of website is vanilla. Vanilla is reviewing cosmetics, including, facial cream, and make up products. It is considered to be one of the most powerful kind of marketing because the representative of the website get to try the product and express their own feelings and experiences through the trial they get from the product. Therefore, many businesses offer their products and services to the review bloggers with the exchange of spreading the benefits of the products to their readers. In a mean time, the consumers check out this kind of site for their own knowledge in the decision process.

To give an example of marketplace model from an online business is, for instance, to offer a service or be a channel where buyers and sellers meet half way. To visualize this kind of company, we will use Lamudi Thailand as example. Lamudi is an online-based real estate, gathering all kind of properties in Thailand together. For real estate agents, brokers, and sellers, the website is the marketing platform, where the business only need to put their property’s images and information accurately. While for consumers or buyers, Lamudi is searching platform. Instead of printed material who you have to buy or look for, you can make a use of your existed devices; computers, laptops, tablets, or smartphones to search for properties as much as you desire. As a middle man, Lamudi is offering both buyers and sellers a good platform that can give good experiences to both sides.

The last model is to be in a part of a marketplace, which might be the easiest way to sell your products since you do not have to manage anything on the website besides your own product page, images, and information. To give an example of this type of model is LNW Shop. You can sell your products or create your online shop via this website easily. LNW also helps the consumers by providing their customers with an expert teams that can help the consumers and sellers accurately via telephone.

As Startup Specialists we have used our knowledge and experience to set up a free portal of frank, accurate information. Do check outwww.startupinthailand.com for more details on doing business in Thailand or for a free startup consultation. We operate as a single source for your business operations in  Thailand/Asia   with our Thailand Market Entry Services and we specialize in Startups | Representations | Regional Business Development | Virtual Offices | Liaison Services. Check out your options here.

7 Amazing Steps To Develop Your Brand

Your logo, slogan, tagline, products or anything that distinguishes your business from the rest of the competition forms your brand. Developing your brand can take years of promotion and hard work. After all, business is ever evolving and so is you brand.

What is brand development?

Brand development involves analysis and study of both the product and the end consumer. A brand/product should cater to the needs of a specific group of people. A good example of a product that caters to the needs of a specific group of people is a fat reduction product.

Fat loss products are designed to be sold to people who want to lose weight. The branding of a weight loss products involves creating a tagline that suggest the efficiency of the product, like “Lose a pound per Week “.

The weight loss products may also carry graphics which showcase a trim and fit body, testimonials and success stories of past customers and other persuasive techniques.

The brand clearly distinguishes itself from the rest of the competition by doing so. The ultimate aim of brand development is to make emotional connections between brand/business and consumers.

Brand awareness shows the extent to which a brand is recognized by its potential customers. The image should associate the product with its purpose. A product may be used to alleviate a problem, or it should be used as a solution to a problem. Increasing Brand awareness requires advertising of the entire business. The ability of the consumers to correctly remember and retrieve the brand in their memory increases the chances of the product sales.

My 7 amazing steps to developing your brand

  • If you have created a unique brand image, or logo then place it on your business cards, email signatures, brochures, signs, website and merchandising materials so it reaches more and more people. Your aim here should be to reach potential clients rather than reaching everyone. Well researched and targeted advertising helps you reach your potential client base with ease.
  • If you are a new business/brand then try to create business relations with complementary industries. Partnerships with complementary industries help to spread awareness about your business to people who are using different products in the same niche. Business partnerships with these industries can be hard to form because the established industries can easily spot whether a business relation with your company is providing any value to their business or not. Once a successful business relation is formed, then whenever a customer encounters one brand the other brand comes to their mind, and vice-versa.
  • Try to hire a Public relations (PR) firm. They will create publicity for your business via news write-ups, press releases and other techniques.
  • Promote your business online by setting up a business website to showcase your products or services. Creating a business blog creates more awareness about your brand too. Your blog post helps your website’s SEO and brings natural search engine traffic free of cost. Using pay-per-click can also help your business reach more targeted traffic. Another benefit of internet marketing is that you can measure your ROI and your online business reach by using applications that track internet traffic. Even if you have a small advertising/marketing budget, internet marketing can help you.
  • Offering promotions and freebies helps to create additional sales as well as increase the reach of your business. Whenever you provide your company branded pens and calendars as freebie, people tend to use it over extensive periods of time and unknowingly promote your brand.
  • Being active on social networks can help your business reach more customers, interact directly with them and learn more about their problems. Social networks provide an opportunity for business to make one to one conversation with the customer. You can also run viral media campaigns to get more subscribers and followers on facebook and google+ .Your fans and followers will advertise your business for you.
  • Develop strong relationships with your customers so that they stay loyal to your brand or business. Email marketing helps to build personal relationships with your customer base. A business that sends out christmas cards ever year to their customers show that they care about their customers. This creates strong feelings of loyalty with customers.

Although just the basics, I hope that the above tips have given you a few ideas. If you would like to learn more, or get some help promoting your business, have a look at this page and contact Aditya Interactive.

As Startup Specialists we have used our knowledge and experience to set up a free portal of frank, accurate information. Do check out www.startupinthailand.com for more details on doing business in Thailand or for a free startup consultation. We operate as a single source for your business operations in  Thailand/Asia   with our Thailand Market Entry Services and we specialize in Startups | Representations | Regional Business Development | Virtual Offices | Liaison Services. Check out your options here.

3 Key points that you need to consider for your Business Plan

Before really starting any business, it really helps to know what exactly you will be starting. Even when buying an established business, the wise investor will sit down and run through a full business plan.

The problem is that this takes time and isn’t exciting. Because of this, too many people jump into a business that they don’t truly understand, without any prior planning. Business is complicated and can be expensive, especially in that vital first year. This is why you need to craft an intricate business plan before you do much else.

3 Key steps to creating a business plan:

 

Research

This may not be what you want to hear, but research is absolutely vital if you want to be a success. Those that fail have normally skipped this important step.

You need to research everything about your business, particularly expenses and the market that you are entering. What can seem like a fantastic business idea when looked at on the surface, can turn out to be a problematic business route, or even likely to fail when you dig deeper. Obviously the reverse can be discovered too, and then you want to proceed at full speed. But, until you do your research, you don’t know.

It is a lot cheaper and less stressful than finding out the hard way that your business will likely fail. A good business plan can also uncover hidden niches on which you could greatly profit, aspects you hadn’t considered initially.

 Design you plan

It sounds crazy, but it is best to plan your plan. By this I mean that you want to decide which elements the plan should include. Risks, problems, marketing, investment costings, company mission and many more elements should be divided up appropriately. This is especially true if the plan is not only for you to see.

If the plan is to secure partners, investors, or finance, it needs to be totally different to a private business plan. It should focus on costings, potential returns, return on investment period, possible issues and their resolutions etc. Think about who will be reading your plan

Market Research and Marketing

Although this comes under research, this section has such a huge influence on your end business that it deserves its own section. Knowing the wants, needs and expectations of your market is a must. You need to serve the market, otherwise your business will fail.

However, when you know what people or businesses want, you then need to get them to choose your company. This is where marketing and branding will play a vital role. Without these, people won’t really know about your business. Not only that, but you want your business to be chosen over the competition.

Price can play a part in this, but often it is the marketing and branding that decides (assuming that you have a quality product in the first place). A great example of this is Rolex, the price reflects the marketed image and quality of the product. Is the watch that much better than most high end watches? Probably not. But, it has been marketed as a symbol of success and class. This is what people are truly paying for, the brand image that a very successful marketing campaign created.

Will you be as successful as Rolex? Possibly not, but until you plan, you won’t know.

As Startup Specialists we have used our knowledge and experience to set up a free portal of frank, accurate information. Do check out www.startupinthailand.com for more details on doing business in Thailand or for a free startup consultation. We operate as a single source for your business operations in  Thailand/Asia   with our Thailand Market Entry Services and we specialize in Startups | Representations | Regional Business Development | Virtual Offices | Liaison Services. Check out your options here.

Right Approach To Your Team Is Crucial For Your Business

As a business owner, you seriously need to consider how you will approach human resources. Your staffs ARE your business, without them very little can get done. Hence, choosing the right staff and giving them the best support possible is absolutely critical to success.

In simple terms, human resources is people management. Their job is Human Resource Management. A good human resources officer, or team, will be recruiting, training, appraising and sometimes offering incentives (rewards). They are their to ensure that the company’s needs are met with the best combination of raw skills and prior knowledge (experience), but also to manage and motivate the staff.

HR manages the relationships and human resources of a company. They need to understand training needs, strategies, and leadership. They are also there to support staff which need help in other matters. Performed properly and a business should see increased employee retention via higher rates of job satisfaction.

Key Requirements and Approaches of HR

Communication: After all, this is a people focused department. Being able to be direct, motivational, gentle, understanding and even kind are all parts of the job. A good HR person will possess great people skills and these skills alone will help things to run more smoothly.

Appreciation: Staff want to be noticed. They may not admit this, but even just a mention of a job well done or a subtle compliment can work motivational wonders. HR staff are often in charge of appraisals, which while bad stuff may need covering, it is always good to highlight the achievements of staff members.

Training Structuring: Staff need to know where they are heading and what they are working towards. By discussing the desires for progression with staff and looking at the future needs of the business, intricate training structures can be planned. This is the company investing in the staff and its own future. The staff also feel motivated, as they are working towards improving their own careers too.

Flexibility: By this, we are not talking about the guy that always takes Friday off sick, after having a night out on the town on Thursday. That is obviously unacceptable. However, people are not only employees. They have external demands and sometimes these demands can become overwhelming. Support in instances of death, children and family aid can actually strengthen bonds between business and employee.

Make Work Enjoyable: This may sound impossible for some jobs, but it really isn’t. Bonuses, at work games, competitions (if done in a lighthearted way), food deliveries, music and office parties can make the world of difference. They certainly don’t need to be all of the time, but just having some fun with colleagues can help form bonds, release stresses and create a more productive workforce.

By incorporating the above approaches, you can really help to build a positive environment at work. Keeping people happy and motivated will help in retention and save you in costs of recruiting. It generally costs more to recruit than to retain. So, it is worth your while setting up a good HR department.

To learn more about Manpower recruitments from the specialists, you may like to read this

As Startup Specialists we have used our knowledge and experience to set up a free portal of frank, accurate information. Do check out www.startupinthailand.com for more details on doing business in Thailand or for a free startup consultation. We operate as a single source for your business operations in  Thailand/Asia   with our Thailand Market Entry Services and we specialize in Startups | Representations | Regional Business Development | Virtual Offices | Liaison Services. Check out your options here.

Startup Projects – 5 Key Points to FOCUS

Business owners looking to create a startup project have various things on their minds. After all, business ownership and getting a business off the ground are complicated. You have a lot to consider and keep in mind going forward, but a lot of hopeful owners are approaching this the wrong way. Below are five points business owners should focus on in any startup project, regardless of what it is. These carry through industries and types of businesses, and it is vital that you stay focused on these points throughout the building and running of your business. We’ve kept to just five points, as it is so easy to get sidetracked by things that don’t really matter. Keeping a clear a focus helps to keep things organised and less stressful.

  • Think About Time

When you should begin and how long this is going to take are important. To a lot of people, there is always time, but results should be immediate. The truth, however, is that the start should be immediate and you should allow some time for results. With how long it can take to make money and begin growing, you are going to want to get into this as soon as possible and stay on top of it.

  • Never Forget

Do not forget about mistakes and previous attempts at a startup project. What you have done in the past should change what you do in the future. Approach situations differently, use what worked, avoid what failed, and learn. Failures are the best way to teach yourself the proper approach to a startup, so do not let that learning experience get away from you. After all, we’ve all been guilty of letting our egos block good judgement, the trick is to learn to recognise when this is happening.

  • Develop Your Brand

Developing your brand and sticking to it helps your business to have a personality. This is a major part of attracting the right audience and keeping people aware of who you are and what you do. When you are trying to build a business, make sure that you have your brand figured out. Keep with what you choose, too, to avoid confusion and problems.

  • Get Online

An online presence is a necessity in today’s market. Your competitors are online, your affiliates are online, and your customers are online. You have to remain relevant and competitive if you want to survive, which means going where everyone else is and standing out. A good web design and investing in things like SEO can help you immensely.

  • Always Attract

Getting a business off the ground requires new customers. You cannot sit back and let current customers do all of the work because that limits growth and it can harm you if customers begin to look elsewhere, stop buying, or buy less. It is difficult to continue growing and have stability if you are not keeping a constant pace for growth. Make sure that you are investing in new and effective ways to bring in new customers.

As Startup Specialists we have used our knowledge and experience to set up a free portal of frank, accurate information. Do check out www.startupinthailand.com for more details on doing business in Thailand or for a free startup consultation. We operate as a single source for your business operations in  Thailand/Asia   with our Thailand Market Entry Services and we specialize in Startups | Representations | Regional Business Development | Virtual Offices | Liaison Services. Check out your options here.