I am 30 years old and finished my ITC & Entrepreneurship course with Alchemy World in autumn 2012. Before I studied with Alchemy World I was involved in cultural dress making, weaving material and sowing the dresses. After completing my course with Alchemy World I started getting major ideas about a business that I want to start on my own.
In Alchemy World I learned how to start a business, what resources I need, what problems you may face and how to solve them and how to manage a business so you can make it profitable. And thanks to Alchemy World I now have two good business ideas to choose from. I plan to start one of them it in the near future.
The first idea is a shower house. There are two shower houses in the area but they are not good and they are far apart. So the business I want to start is a shower house, a good one. I have very good communication skills and a good network and I am certain that I can provide a better product that the two existing shower houses. I will insure profit by cross checking expenses and profit. The two existing shower houses charge cost 3.5 - 4 birr. I will decrease the price to 2.5 birr. It is realistic to still make money because I don’t have the expenses with the rent of the house. I will focus that business on shower only. No other services.
This is my main idea and I am confident that I can make a good business there. Now I am waiting for the sub-regional office to approve the plan so I can get the license for the business.
The other business idea is to open a restaurant in Shiro Meda. There are restaurants in the area but no good ones with proper service. If I open a restaurant I want to sell good food and give good service; the price will be the same as the competitors but the quality of the product will be better.
I don’t cook so I need to hire a cook. And if I decide to open the restaurant my wife will be the cashier and she will manage the business. And then I can do other businesses on the side. I am a business man and I have entrepreneurial skills so I want to have my own business.
For both ideas I want to compete on the product quality and provide better services for the community. I will not have to compete on the price, for I have a competitive advantage: I own the house where I can open one or the other. But so far I have not decided which of the two business ideas I want to start. If I have to choose I will choose the shower house. It is a better idea and it solves a problem in the community. Also the start-up capital is smaller compared to the cost of starting up a restaurant.
I want to use my training in Alchemy World to make different businesses and to become an independent business man. For Alchemy World has helped me to think in terms of business and to prioritize. I have learned how to build a business starting from the problem in the market, how to make a business plan and how the customers will pay for the product. A major thing I learned is time management. It has also taught me to be open to different perspectives, to discuss the business ideas with my friends and to use my network.
I couch football and work as a driver and a camera man. But for the future my main plan is to become an independent business man with my own business. And every day I want to thank Alchemy World for helping me to get organized, to help me meet other people and to teach me how to make a business.