Self reflection by Mohd Farid

At the beginning lesson of APK, i thought it was a boring lesson but actually it turned out fun. I enjoyed the subject because it open my mind to many new ideas about entrepreneurship. Firstly we need to come out with business idea, we also should identified the problem statement ,then identified customer targeted and lastly we have to know best method to attract of our customer. Finally i am grateful to be given opportunity to learn this subject because who knows i can set up a new business on my own.

Self reflection by Kamarul

I would like to say this class actually brief me more about entrepreneurship. I always wonder where and how to start a own business and now i have a very good opportunity to learn and to experience it on myself.  I think I will apply what we learn later in life when we work. but its important to know the knowledge from this class.

self reflection by Afendi

          I honestly interested in entrepreneurship. APK class has further enhanced my passion to become an entrepreneur. Each week a variety of new inputs have been shared by the mentor Bernard for this session.
with input that has been given then I understand that it is not difficult to become a successful entrepreneur.

        Man has to take risks and be creative and open minded. In addition, Bernard also shared many interesting stories related to entrepreneurship. The stories are what make the class more interesting sessions APK. I have also been taught how to do a business plan. Indirectly it easy for me if I want to become entrepreneurs in the future.

Self reflection by Muhammad Syahrizat

To be honest, at the beginning lesson of APK, i thought it was a boring lesson but actually it turned out fun. I enjoyed the subject because it open my mind to many new ideas about entrepreneurship. Firstly we need to come out with business idea and we also should identified the problem statement ,then identified customer targeted and lastly we have to know best method to attract of our customer.


From the APK class also i have learn a lot of things such as how we plan the business by using a more systematic ways. On the other hand, i have also learn every industry have their own problems, there are many reasons why the problems occur and they have to find out the main reason that cause the problems and  most effective solution to solve the problems in order to create a successful business.  Finally, I wish that I still can gain a chance to learn more about entrepreneurship, I think it will help me to solve many problems if I wish to start my own business in the future.

Self reflection by Ng Pei Kee

During apk class, I learnt and got to know about entrepreneurship.  Our mentor Bernard Hor taught us there is no right and wrong in doing business. There is only earning profits or loss profit in doing business.  I get to know what business model is. Furthermore, we always hear about business plan, but never hear about business model. From the apk class, we know to simplify the hundred pages of business plan into a business model.  Business model is a means of structure that eventually is blended to create a flow. It consists of nine building blocks that represent whole operation of a business. I really enjoy during apk class because we can hear the real experiences from entrepreneur. APK class is interesting and awesome!!

Self reflection by Ng Li Yie

From the APK class, i have learn a lot of things such as how we plan the business by using a more systematic ways. On the other hand, i have also learn every industry have their own problems, there are many reasons why the problems occur and they have to find out the main reason that cause the problems and  most effective solution to solve the problems in order to create a successful business. Next is in the business plan there are not right and wrong. We will know it after we carry out the business.

Self reflection by Ng Sang Sang

o be honest, at the beginning, the APK lesson that I imagined was a very dull and boring lesson, maybe it was due to the reason that me myself was not so interested with those business matters. In my life, I had never involved with any things that related to entrepreneurship. Due to this reason, becoming an entrepreneur was like such a far target for me to achieve, maybe impossible in my thought. Whereas surprisingly, after I had attended the first APK class, I found that the APK lesson was very interesting. That was the first time for me to know that started to begin a new business we needed to consider a lots of things.
 Firstly, we needed to come out with a business idea. Next, we should recognized the problem statement that formed with a special equation which was what+who+why= problem statement. Following, we still needed to identify our customers targeted. We had to consider which channels should we chose to promote our product. We had to come out with new attractive points to think how to get attentions of our customers. Most important thing was we needed to consider all costs that related to our business plan, because we had to start a new business with limited resources so we had to save budget wisely.
 Finally, I wish that I still can gain a chance to learn more about entrepreneurship, I think it will help me to solve many problems if I wish to start my own business in the future.

Self reflection by Ng Ley Koon

We have starting class together with Mr. Bernard, he taught us a lot of business concepts. He teaching us the business plan by emphasize strongly on the business model that include: 1. Customer segment, 2. Revenue stream , 3. Customer relationships, 4. Value proposition, 5. Channel, 6. Key activities, 7. Key resources, 8. Key partner, and 9. Cost structure.

He explained to us the meaning of these elements in the business model. Then he asked us to come out with a simple business idea in our group. After that, we have to relate our business idea to these elements. This mean by our business model canvas will help us to set up our business idea. Our group have come out a business idea to open up a motorbike repair workshop in the um campus in order to make the riders more convenient if they face any motorbike problem.

Finally, I feel that UM change the APK teaching style by employed those industrial mentors come to teach us how to set up our business is quite refresh us in this semester. I hope that this teaching style will be continued for the next time. 

Business Model Canvas (Key Partner and Cost Structure)

KEY PARTNERS
Advantages of partnership:
a. Acquires capital- one will manage the business and one will contributes money.

b. Share experience, labor, and skill-  one partner may well-knowledge with selling and dealing with customers while others specialized in repairing work.

c. Reduce the risks, all the partners will share the liabilities.

First of all, we identified our key partner which is students from business faculty and engineering faculty who are graduated. For the reason we choose graduated students from these 2 faculties is because of student from engineering faculty have experiences with mechanical stuffs. We can hire them after they graduated and become a licensed mechanic. Moreover, hire talented motorbike experts in repair and maintenance will instil confidence among the customers. Yet, we set up a business is to build a long-term relationships with our customers so that they will back not only for repairs, but also purchase accessories such as helmet. An addition, students from business faculty can help us to advertise and promote our workshop besides they have enough knowledge on business strategies. A good business strategy will help us to expand our business effectively.




Later, we have to determine our key suppliers. We have decided to open a motorcycle repair shop which not only repair one brand of bike but different brands such as Honda, Suzuki, Yamaha, Kawasaki and so on. Many of these motorcycle companies need us to sell their accessories and use parts. Besides that, we should find a supplier that offer wholesale prices. Despite of this, we need to have a trusted supplier. Thus, we can select the inventory you want to start your motorcycle business from them with a lower price or discount. This will prevent getting cheated by others suppliers.

Cost Structure
There are two costs in conducting our business which is fixed cost and variable cost. Our fixed costs are rental, salaries for office manager and mechanics, equipments such as machines and tools. Then, our variable cost will be cost of utilities (water and electric), cost of repairing tools and machines, cost of purchasing accessories and use parts.



The most important cost inherent in our business model is the cost of buying accessories and use parts of motorbikes. However, according to the economics of scale, the more you buy, the cheaper you will get. Next, we can contact large motorcycle part suppliers and wholesale dealers to negotiate a discount if we buy in bulk. We must only take inventories of the item that we really needed such as common items: oil, filters and gloves on hand. We can also recycle the used parts included engine parts, body, gas tanks, electrical parts and wheels. Thus, it will minimize the cost, increase our profit and lead us to a cost-driven structure.

The key resource which is most expensive is the cost of machine (capital). We need machine to start up our business. However, to make it cost-driven, we can consider to buy second hand machine from a other motorbike business which decide to change their machines.

The most expensive key activities will be the motorbike accessories fair. In order to carry out this event, we have to buy some special or outstanding accessories for exhibition. For instance, we need to buy beautiful design helmet from foreign country to attract consumers. As a solution, we can either find sponsors to support our event or sell the helmet with reasonable price after the fair.

Business Model Canvas ( Revenue Stream,Key Activity,Key Resources)

Revenue Stream
First of all, we are planning to operate a motorcycle repairing workshop so our main revenue is derived from providing motorcycle repairing service. Next, we can enhance our revenue through assets sale by selling varies type of helmets so that our customers can purchase their favorites helmet based on their own preferences and accessories of motorcycle as well. Besides that, we also provide doorstep service so we may charge some usage fee from customers that require this service. Motorcycle washing service will be provided with a more affordable price because our targeted customers are mainly focus on students in the campus. 

Moreover, subscription fee can be generates from customers that apply maintenance service of their motorcycles with duration periods weekly, monthly or yearly. We will also provide some motorcycles that are specified to rent for customers in a fixed period to generate our revenue. 

Furthermore, we also plan to become agent to help customers that wish to pay the road tax, it can reduce their time consuming then we can charge them some service tax for this service. Brokerage fee can be generated when customers wish to sell their motorcycles; we can purchase with a lower price then resell them to another customer with a higher price. Finally, we can charge advertising fees from some motorcycle companies that wish to promote their 
products in our workshop.
 
Key Resources
Key resources can be divided into four categories which are physical, intellectual, human and financial. Firstly, physical is refers to when we comes out with a new business idea, we desire to realize it; we have to turn out all our ideas physically. Now we plan to operate a motorcycle repairing workshop so the most basic thing is a place that we need to proceed our business therefore we have to rent a shop in the campus. After that, we need to prepare the machine and repairing tools that are needed for the motorcycle reparation.

Next, to make sure the workshop can be operating smoothly; intellectuals are required for different segments. Our main focus segment is motorcycle reparation so we need workers that have rich experiences and professional in this field. Following is the management segment; we need people that are attentive in planning details and implement projects with well-managed. For the marketing segment, people that are good in spotting markets that have the potential to sell our service are required. And for the publicity segment, we required people that are experienced in using appropriate promotion strategies to enhance our achievement or by using creative and fresh ideas to catch the attentions of customers.

Following, human that refers in the key resources are our targeted customers and workers. Customers are main source of our revenue generated. Our workshop can be operating continuously only if we keep earning profit so that we can afford all our expenditures. Due to the reason that customers are playing the most important role so we need to spot customers that are potential to contribute to our operation workshop. Our main customers are students that bring motorcycle to the campus whereas our potential customers are refer to staffs and lecturers that bring motorcycle to the campus. Besides that, the main service that we provide is the motorcycle repairing service so workers are also very important because we need to ensure that we can supply service whenever customers request.

Finally, financial is the costs that involved in our business plan. The total cost can be divided into fixed cost and variable cost. Fixed cost included machines that we purchased. Variable costs are referring to salary of workers, rental of shop, costs of water and electricity and etc. Financial problem can be solved by several ways for instance apply loan from bank, borrow from friends and family, seek financial help from some government organizations or corporate with other companies.




Key Activity
Initially, we must make sure the productions that we supplied are high quality and guaranteed. In our case, we must ensure that the motorcycle repairing service is efficient and professional so that customers confidence towards our workshop will be enhanced and be more loyalty to our workshop. Our workers also should be sending for training so that they can always acquire the most updated skills that needed for their job sectors.

Next, problems that existed in the business plan must be solved efficiently and effectively. For instance, we require workers that are professional in this motorcycle reparation sector, we must recruit workers that truly experienced maybe by face to face interview, phone interview or hold a practical test. Machines and repairing tools that necessary for the motorcycle repairing service must be purchased completely. Financial problems must be solved by seeking various kinds of assistance.

Besides that, we must expand our network in various segments. Nowadays, multimedia plays an important role in promoting. Social websites like Twitter or Facebook can be fully used to connect with people and provide more information about our workshop to customers. Advertisements can be doing in the campus by using newspaper, poster, banner or online advertisement. A broad network system is able to help our workshop attract more customers.

Furthermore, nowadays people are easier get attracted with creative and unique events. So we can hold some events to catch the eyeballs of customers. For instance, we can hold promotion maybe once in a month to sell accessories of motorcycle with a lower price. Helmets that are limited edition or special design can be selling to attract customers that are interested in helmet collections. Sometimes, lucky draw events also can be held to attract customers that are curious with the mystery prizes. All of these activities can help our workshop to maintain relationship with current customers and attract more new customers.

                      

Business Model Canvas (Value proposition, Channels, Customer Relationships)

VALUE PROPOSITION is solve the customer problems and satisfies the customer demand. So, the value proposition in our business were 24 working hours, door step service, washing motorcycle service and paying road tax service and rental motorcycle.

• 24 working hour and door step service- We cannot expect when the motorcycle will break down and to give the convenience to the customers, if the customer's motorcycle break down suddenly we can provide this service by go to the place and we will serve the customers all the time. 
• washing motorcycle- There are not service washing motorcycle in the campus, so this service will give the convenience to the customers and the price is more acceptable for the students and they not need to worry the hygiene problem. 
• paying road tax service- help the customers especially the students having the problem in paying the road tax because of not have a suitable time to pay due to having classes very office hour.
• rental motorcycle- give the convenience to the students who not have their own transport. Motorcycle also avoid from traffic jam.



24 operating hours



Washing service

CHANNEL is how a company communicates with and reaches its customer segments to deliver value proposition. At this level, we using the social networking website to promote our service. the social networking website we use are Facebook and Twitter. Other than that, we also using the poster and  banner to promote around the campus. We put the poster at the place which are most of the students will go, there are bus stop, notice board of faculty and college while the banner we hang it at the place more conspicuous to attention of people. In addition, we will send the e-mail to their Siswamail because students and staff have the Siswamail, so this also the ways to promote our service. Lastly is advertising in newspaper of University Malaya. Through the newspaper there will be more people know our service.

CUSTOMER RELATIONSHIPS is what types of relationships that company establishes with specific customer segment. In this part, we use the point system. Every customer will get points when they using our services.  When they collect enough points, they can change the points with the mystery gift, for example, discount when buy the motorcycle accessories. By this way, we can attract more customers and maintain the old customers. Another way is using the feedback from the customers to alter the service to become more better, thus we need to more communicate with the customers.