Sindy

My Experience Managing a Business

Chief Executive Officer

“The best things in life don’t come easy, but those things are the ones worth the sacrifice.”

Hello there! I am Sindy, an ordinary humanities (Linguistics) student pursuing a Minor in Entrepreneurship.

Since young I have been exposed to entrepreneurship; both my parents and grandparents were once entrepreneurs. Growing up, the mindset of entrepreneurship came in naturally to me.

I have seen the successes and failures that my family had encountered along the way. I know that the path of entrepreneurship is trecherous but it adds flavours into my life. The biggest takeaway I had from their endaevors was that good things are worth thriving for. With that in mind, I decided to take a leap of faith, endevoring on a new adventure of my own.

My entrepreneurship experiences will be documented here!

It's a wrap! Thank you for following me!

In the past few months, my team and I have learnt and grown together; from the initial failures of drying our own flowers to our current successes made from sales. Friendships and memories were forged along the way, I am grateful to have such an awesome team to support me. Failures to us, was a step to success. Along the journey, we had to constantly pivot and innovate in order to improve our outreach.

After this module ends, all of us will walk different paths, but that does not mean the end of our friendship! Thank you all for such an AMAZING journey! It is a module, you definitely will not regret taking.

#32: Final Presentation!

Today is the day where we showcase our past few months of hard work. Kimmy and I arrived early to set up the booth before Aaron arrived. In the midst, we created our solar panel led terrarium; an order recieved not long ago. Many that walked by was fascinatted by what we have done. Perhaps our solar panel led designs could be something we to look into.

Prof Adrian came on behalf of Prof Roderick to assess us. The feedback provided by Prof Adrian was that our slides was concise and the learning process was reflected.

Other than having to present, I've got to see how the other groups presented and was impressed by their sales. The other teams seemed to be earning, unlike us. Despite so, we were reassured by Prof Adrain that making a loss does not mean we will do badly for this module; rather, it is the learning experiences that counts. From the presentations, I was able to better understand how the other teams marketed their business. For example, Hydra does it through word of mouth, Instagram and Whatsapp. They highlighted that the use of Whatsapp has greatly helped to send mass messages and spread awareness. Peachy, relied on Influencers, Sponsorships and Packaging to reach out to their audience. The different marketing approaches taken by the others is something we can look into if we intend to further our business. It was an insightful evening!

4/9/2019 (WED)

#31: Back to the warehouse

Kimmy and I went to the warehouse today to purchase the supplies we lacked. This would probably be our last time here as we still have existing supplies. Our current exit strategy is to sell our existing products and see how things goes as we will all be busy with school.

4/9/2019 (WED)

#30: Preparing our DIY kits for sales

Today we met to do the measurements for our DIY sets as some of it has already been sold. By measuring the amount of supplies needed, we are able to reduce wastage of resources and accurately guage our finances.

While packaging, we realised that we listed the wrong DIY product; the Owl Land Product should not be up. Due to that, we have to go to the warehouse to purchase more supplies required. Stay tuned for our latest DIY!

2/9/2019 (MON)

#29: DIY Kits Making

My team and I met up with a few agendas in mind:

1. Complete the DIY Videos (To post on Instagram).

2. Film our Funny Viral Video.

3. Measure the amount required for DIY Kits.

Before the day ended, we managed to complete the agendas mentioned above.

I was the Director and Cameraman for the filming of the viral video. Kimmy has previously drafted the video online and I had to rely on it to create the shots. As we did not bring a weighing scale, we had to gauge the amount of measurement required, while filming the DIY video. It was a fruitful day!

Flashback!

Do you still remember our previous logistic issue in delivering our pre-made products? The creation of our DIY sets will greatly reduce our cost of shipping.

26/8/2019 (MON)

#28: New products in the making!

Most of our products sold are pre-orders to customise, more pre-made products have to be made to attract our customers. It seemed like our pre-made products are more sellable than the customised ones.

As we have been constantly producing new products, the time taken to produce a new product reduced. In about 2 hours, I managed to complete 3 designs. It is a great achievement than before as we arethen able to reduce our manpower cost over time. Presenting our new products!

18/8/2019 (SUN)

#27: New Carousell Order!

I have recieved notification for a new order today. It seems like Carousell is an ideal platform for sales. As there is a shortage of manpower, I have to act as the Public Relations Officer (PR) and liase with the customers.

From my previous encounter, customers on Carousell tend to negotiate the price of product sold. This particular customer however did not negotiate with us and paid us the price stated. Through this, I am able to infer that the prices are highly dependent on the percieved value of individual. If the price is right, customers tend to not bargin as they see the value of the product. We are then able to gauge the cost of products and set different pricings.

17/8/2019 (SAT)

#26: Lights Camera Action

Today we met up at school to film the our giveaway lucky draw. Kimmy helped to consolidate the number of participants in the Excel sheet while Aaron and I cut the numbers to draw.We also worked together to film the video. As the CEO, I was honourned to be the person choosing the lucky winner. After the selection of our winner, I was responsible to contact them for the price collection.

Flashback!

Previously we managed to boost our Instagram post, which helped increase the followers from 190+ to 272. Although there is a significant increase in outreach, the number of followers does not equate to sales. Even though, we are able to successfully reach out to people, the call to action is low.

Marketing is a key aspect of any business, hence it is something that we have to continuously work on. Everyone in the team is helping Kimmy with marketing as we are short-handed.

16/8/2019 (FRI)

#25: Carousell Success!

Today, I recieved an order on Carousell from someone interested in our product (Tundra). I liased and negotiated with her on the price, the buyer was responsive and needed the product urgently. With urgency, the buyer wanted us to deliver the product directly to her home. As all the products are stored in my house, I had to deliver it; but it is unsafe to deliver alone. Hence, I phoned Kimmy and we went to deliver the product together.

As I was delivering, I realised that regardless of how mindful I was to keep the product intact, the figurines and the sand will still be moving. This post a challenge for us as we have to constantly check and fix our products before it is delivered. Another problem, is the safety aspect, we should not go on deliveries alone it is unsafe (unless we know the party personally). Therefore, I have to revamp the deliver service and set pickups instead. This is something I have to learn and change along the way.

Flashback!

Do you still remember our plans to do the DIY kits? After selling all our pre-made products, I have decided to just focus on the sales of the DIY product as self-delivery of the products is not ideal. When we think Singapore is small, it is not as small as we think and transportation can take up to 2 hours (depending on location). Thus, this method is not feasible.

12/8/2019 (MON)

#24: Time to Pivot!

After our consultation with prof, we realised that it was key to fall back to our initial plan; to allow our customers to diy. The rationale behind it was so that we can reduce our logistics (self-delivery) and manpower cost.

To make our DIY more unique, our kit will come with a DIY Youtube Tutorial (Available only to those with the link). With that objective, I met up with Aaron and Jiacheng to purchase the supplies. Kimmy could not make it as she was down for School Orientation Camp. When we went to the warehouse, we realised that it is not open. Hence we went to NTU to film our video tutorial instead, utilising our remaining materials.

In the evening, Kimmy joined as in the discussion of our marketing plan. Collectively, we felt that our marketing reach was not ideal (though at that time we had 190 plus followers). After discussion, we plan to have a giveaway and boost our post to increase our exposure. Will it work? Let's find out!

5/8/2019 (FRI)

#23: Beauty in the making

Today, the four of us met up to create more products, source for more supplies, and did our product photoshoot. I made three products on that day using the remaining supplies we had. After that, we went to Chinatown Daiso in hopes of purhasing more white sand, but all the other coloured sands ran out except for the green ones. Thus, we ended up getting all the green sands on the rack.

28/7/2019 (SUN)

#22: New Orders Up!

I recieved an order from my friend for her aunt's birthday gift. She told me that her aunt likes things that are colourful and is born in the year of the sheep. With these requests in consideration, I went with Jiacheng to purchase the supplies required for this product. After purchasing the supplies, Aaron met up with us to do some products. Here is how my friend's order look!

23/7/2019 (TUES)

#21: Website Building

During our consultation, Prof said that we can do without a company website if we are able to make our social media, "the website". Though that is a valid point, our marketing efforts on social media is not as ideal as we seek to be. There is a need for us to have a website in order to make our business seem more "official". The initial marketing plan that we had was not appealing enough to attract audience.

With the need of a website, I met up with Kimmy to do the website. We spent about 3 hours doing it. This is how our current website look, here is the link https://flormierememories.wixsite.com/flormiere

15/7/2019 (MON)

#20: Orders Up!

Today I met up my teammates with the goal to complete the 3 pre-orders received.

As the CEO of the company, constant pivoting is required. I felt that an augment we can provide our customers is a story behind their gifts. All our products have a story. When an order was made, I went an extra mile to understand the purpose of the gifts, to create a story: one was for gratitude, one for farewell and the other not occasion specific. These are the designs I have made!

14/7/2019 (SUN)

#19: Shopping Spree

Today, I called the supplier and was delighted that they were still open thus I went down to the warehouse to purchase the products myself.

The rationale behind our need to purchase the supplies onsite is so that the quality can be maintained. Our company's aim is to be able to sell quality products, not quantity.

As my teammates were not available today, I had to video call them to discuss which supplies are required.

One takeaway I had while purchasing the supplies was that the type of business I am doing requires lots of R&D (research and development) as well as quantity. It was cheaper for us to purchase our supplies in bulks rather than individual products. Being rather conservative at the start, we only purchased individual items and hence it is more costly. What I learnt is that, it is important for me to visualize the end product and know what materials are required before purchasing the supplies. Before, we were open to buying materials to try without having a clear objective. Now, as everything starts to add up, every little cent counts, I learnt to spend wisely with a clear objective.

13/7/2019 (SAT)

#18: Gem in the Sea

It has been a while since my last update. During this period of time, I have been sourcing for supplies as we have to start our product going.

For the past week or so, I recieved 3 pre-orders for our product but we lack the materials. Hence, there was a pressing need to purchase it. While researching, I came across a warehouse selling terrarium products. The warehouse is located in Singapore, in excitment I told my team about it. We were elated to find a local supplier as we are then able to save on time (shipping) and money (shipping fee). With limited time, I decided to contact the suppliers to enquire. However, as it was late, the stores were closed. I guess I will have to call in tomorrow!

12/7/2019 (FRI)

#17: Product Making Day

Our products from abroad are all in and we have met to consolidate our products as well as produce more of it. We are kinda falling back in time, so we have to keep producing and continue the streak. Presenting to you our products for sale!

That aside, remember our 1st prototype? I checked it today and to my horror, the flowers went mouldy. This pose a new problem for us: how are we going to prevent it from getting moulding? I could not figure out, the only explaination is that either the flowers are not completely dried, or, the sand have moisture causing the reaction with the flower.

23/6/2019 (SUN)

#16: Supplies Sourcing at JB

Supplies sourcing has been one of our biggest challenges faced. We need to find quality supplies at reasonable prices to produce our products and it has to be sustainable. Before going on our trip sourcing, Jiacheng and I had looked up some suppliers in Johor Bahru (Malaysia), as we felt that it will be more value-for-money.

With the research done, we met up to get our supplies for our products. We met up at 8.30am, hoping that we are able to reach by noon. Unfortunately, due to some custom clearance issue, we reached JB at around 3.30pm. The jar supplier that we initially sourced for, seemed to have been closed as it was a weekend. With little hopes, we went to KSL to see the other possible supplies we could get. Thankfully, we were able to purchase the supplies we required and even found potential products to use.

The possible issue we realised is that going to JB to purchase the supplies is not feasible in the long run. It is time consuming and a waste of resources.

15/6/2019 (SAT)

#15: Consultation cum prototype 2 making!

Our team managed to meet up today as there was a consultation, it has been a fairly long time since we met due to our hectic schedules.

Today was a bountiful day as I managed to assign the responsibilities to my fellow partners and set a direction for the business. It is also the day where we will evaluate the sample supplies purchased to ensure quality. Some of the supplies purchased from Ali Express did not meet our company's standards as it was of sub-par quality. Hence, we feel that it is better to purchase the supplies onsite. Therefore, we will be go to Johor (Malaysia) to source and purchase the supplies we need on 15 June (next Saturday).

8/6/2019 (SAT)

#14: Sawadee Kha (Product Sourcing)

Sawadee kha! I was away in Thailand from 28 May, for the past few days, I have been sourcing for more dried and preserved flowers around Thailand. The shop which I initially sourced and ordered samples from was ideal. Thus, I got my Thai friend to drive me there; the location stated was located in another province near Bangkok. Upon arrival, I was taken aback as there were no shops in the vicinity, only semi-detached houses can be seen. When I called to ask the exact location of the shop, they told us that they did not have a physical shop and that I can only purchase through pre-orders. There is a miscommunication between the shop owners and I as I was not aware that there isn't any physical shop when we communicated via Facebook Messenger. At that time, I felt cheated as I was told that they are both the manufacturers and suppliers, but they did not have any ready stocks... They advised me to pre-order and collect another day. This is the downside I encountered while liasing with suppliers from a non-native language; communication was only made possible with the help of my Thai friend.

Regardless of the circumstance, I had to purchase the dried flowers for the business. Hence, my friend wanted to drive me to another dried flower shop in Bangkok. On the way there, we got lost as the GPS brought us to a wrong location. So much luck ...

After that, my friend and I decided to take a bus to Chatuchak Weekend Market to try our luck for the last time. Fortunately, I managed to stumble upon a shop that sells different types of dried flowers. The place felt like heaven as I was able to get everything required.

I managed to get one box filled with different spieces of dried flowers and it costs 760 baht. It was more value for money than the online shop from Facebook. The online flower shop I initially found only sells preserved baby breaths, and it is 115 baht per brunch unless we got more than 30 brunches, each brunch will then cost 105 baht. In order to meet the order quantity, my team wanted to get 30 brunches. Luckily we didn't managed to get it and got something else instead. Oh well, all I can say is that when one door closes, another opens. A blessing in disguise!

1/6/2019 (SAT)

#13: Truly Asia (Product Sourcing)

Today Kimmy and I went to Malaysia to source for some supplies we needed and is glad to be able to find the sands needed to complete our prototype.

It is a rare sight, as the decorative sand in most Singapore Daisos are either limited or out-of-stock.

25/5/2019 (SAT)

#12: Prototype Mission Accomplish

In case you are wondering, I did not mia (missing in action), I spent the last 2 days trying to finalise the design for our prototype. I realised that adding glitter and glow in the dark glue was not ideal as the color is dull. Hence, I have washed off the glitter and paint. Today Kimmy went to buy the remaining items (sand, uhu glue and blue tac). Presenting our 1st Prototype!!

20/5/2019 (MON)

#11: Protoype in the making

Today is the day where the dried rose is ready, went to check but sadly, it turned black. We found out that it is not ideal to dry the roses ourselves. I told the group about it and they mentioned that we should order the preserved rose aboard instead. That aside, Kimmy and I met in the afternoon to get baby breaths and sand for our prototype. Unfortunately, we did not manage to find the sand we needed even though we went to two Daiso stores. Hopefully we can find it soon. Stay tune for our design!

18/5/2019 (SAT)


#10: Sample arrival

The flower samples I have ordered previously is now at my friend's house in Thailand. I will be going there at the end of the month to take a look at the samples, if it is ideal, I will buy from there and bring it back to Singapore directly. By doing so, I am able to save costs and time for shipping. This will allow us to start making our products soon.

18/5/2019 (SAT)

#9: Supply sourcing

Today I liaised with the supplier in Thailand for some samples, we will be getting some of our supplies from Thailand as it is nearer than China. The cost of the baby breaths (flower) in Thailand is relatively cheaper than that in China, also, the flowers in Thailand are of better quality. The shipping period however, is the same as that of China, requiring about 2 to 3 weeks to arrive. I will probably be purchasing the flowers when I am on holiday in Thailand.

Apologies for the late update, I have been working so there is little progress made. However, during this period, I have been sourcing for potential suppliers. The roses we previously gotten are also in the midst of drying, so there is nothing much to update at the moment.

16/5/2019 (THURS)

#8: Painting in progress

I painted the glow in the dark paint 2 days ago, left it to dry. I have yet to get all the materials needed; thus little progress have been made until today.

Today, I repainted the 2nd coat, didn’t turn out as ideal after drying as the 1st coat worn off...Also, I checked on the flowers, it is drying well and it looks ideal! Here is how it looks!

P.s. My storeroom is a little messy...

9/5/2019 (THURS)

#7: Let's get it rolling!

We have finally started on our product!! These are our behind the scenes (BTS)!

Today Kimmy and I went to purchase the materials for our prototype, travelling from Alexendra to Chinapoint. After that, we started creating our prototype design. As we purchased real flowers, we had to dry the roses ourselves, this process takes about two to three weeks.

Fun fact! In order to dry flowers, you have to put it in a dark and dry room thus it is now lying in my store room XD (This is according to Google haha)

Stay tuned for more progress on our work!!

3/5/2019 (FRI)

#6: 4 Peas in a pod

Update!

One of our friend, Sarvash, has successfully dropped the course. Now we are left with 4 members. Wishing him all the best in his future endeavours!

2/5/2019 (THURS)

#5: D'Sketches

Hey there, sorry for the long wait! Just ended exams not long ago.

Presenting to you...our design sketches!!

The Chief Marketing Officer, Kimmy and I have met and came up with some sketches for our product.

ps. Our sketch may be ugly cause I am not an art student...but...our product will definitely awe you!

Product prototype, coming soon...

30/4/2019 (TUES)

#4: D-Day (Presentation Day!)

I have just ended my idea presentation, it is now time to improve the idea! Prof has provided valuable feedback on potential areas of improvement. He mentioned that we should target the Western market instead of China, as it was pointless to compete with the existing businesses there. The current market price for the cheapest product is $35 (based on established dried and preserved flower stores). As a new company, I felt that we should have a competitive price system, below the market rate, this is so that we are able to penetrate into the market shares. However, Prof felt that we should not compete based on price as it might make us seem 'cheap'. He asked us to sell the product at normal market rate.

One interesting observation made by Prof was that we could add some sense into our dried flower products. This is a refreshing point that we did not initially thought of. He told us to add essential oil on the product to produce a fragrant. This unique aspect could poentially allow us to be part of the blue ocean.

Prof also asked us to tap into the market of Singaporeans that do not have a culture to purchase flower products. He highlighted that the market for such people is much bigger than those who are already interested in purchasing flowers.

The feedback provided is crucial us as it will differentiate us from other competitors.

Update on our manpower!

Our group’s Creative Director, Sarvash, might be dropping the course, there is a need for assistance in product design. Being the CEO of the company, I have to ensure that all departments runs smooth; hence, I will work with the Chief Marketing Officer in product design. I used to come from Chinese Media & Communication in Polytechnic, hopefully that helps? Additionally, the classmate who proposed the marketing idea has dropped the course.

More design ideas will be updated!

20/4/2017 (SAT)

#3: I see some light!

Yay! Our idea is choosen! We will be doing on the dried flower business.

Do you remember what we initailly planned to do? At the start, we were slightly ambitious and wanted to produce different products such as dried flower bouquet and phone cases etcetera. However, after consideration, the group have come to consensus that we will only start with 2 genre of products; the dried flower terrarium and bouquet, as these products are more receptive in the market.

To fully substantiate my idea, I have conducted online research and interviews to understand the market for dried flower terrariums. The feedback garned war relatively good, people are inclined to purchase it as desk decorations.

In order to pivot from the red ocean, I suggested that we should provide free workshops both online and offline. This means that, in an event if our customers would like to DIY their product but is unable to make it for the workshop, they can attend it online instead. We will ship the required materials with a Youtube link (only accessible with a QR code) to them. That way, our customers are able to create their own floral memories in the comfort of their homes. This is a unique aspect that none of our competitors are currently doing and will be our competitive advantage. As dried flowers does not fade, I told my group that our core shall be memories. All of our products will come with its own unique story.

Flashback!

After the dropping and addition of members, my group is now back to square one with 6 members. However, one of our friends might be dropping the module as he will be away for a period of 3 months. Now, our group has 6 members but it will become 5 by next week…Stay tuned for more updates!

18/4/2019 (THURS)

#2: Manpower Shift

Our group is currently faced with a manpower issue...

There has been lot of 'drama' in our group lately. My friends and I, a group of 6 was formed long before the start of the course. However, one of our friend decided to drop as she will be on an overseas internship programme for 6 months; leaving us with 5 people.

With the leaving of 1 group member, we had another classmate that joined us. The addition of a new member came new ideas. He proposed the pursuing of a marketing business, suggesting that we help companies produce their Electronic Direct Mail (EDM). This is a relatively fresh idea to most of us, some of our group members were for that idea as they felt that the business is generally of a low cost. After serious consideration, we proposed the idea to the Professor (Prof). However, Prof was concerned of the value that the business would bring and was afraid that we became a third party business. As many concerns were highlighted, we decided not to carry on with that idea.

17/4/2019 (WED)

#1: Idea Germination

Ideation was one of the biggest challenges I faced at the start of this module. My group has to generate an idea that is both scalable and feasible. We had to consider the value and the prospects of the business. Initially, many ideas were proposed by the group, we had ideas such as food delivery service within NTU, laptop sticker printing service and breakfast sales at the bus stops in the mornings. All these were valuable ideas obtained and proposed by all of our group members, each with its learning points and concerns.

I am a nature enthusiast, with that passion and interest, I proposed to my group to start a dried flower business. One of my member supported my idea stating that the terrarium business by the previous batch was relatively successful. This strengthened the feasibility of my business as the both are relatively similar.

Dried flowers are of low mantaince and can be used as a decorative item. After serious considerations, my group members are agreeable on its possibility. The cost for dried flowers is relatively low (ignoring the Mean Order Quantity), the only concern we had was the quality of these flowers. After researched conducted, I felt encourage by the fact that people are into the use of dried flowers as decorations. Research has also shown that there are not many shops in Singapore that sells dried flower products; giving us an edge over others. The products that we will be selling will be based on a competitive pricing system.

With the idea taken into consideration, we started to think of the possible products to be sold. We have thought of items such as phone cases, terrariums, accessories, bouquet and cup holders. The greatest problem we will face in our business would be the lack of special occassions we can tap into. We will not be able to make it in time for Polytechnic Graduation, Convocations or even Mother's Day.

Now, we have have four ideas to work with, which idea will we be doing?

14/4/2019 (SUN)