Give your business a fighting chance
By Dan Cheeseman Co-Founder & Director of Inspire eMagazine
Before I start, this blog is not designed to merely beat the drum of Inspires emergence into this local market, nor is it to be deluded in grandeur of thinking I have all the answers. I certainly don’t. The objective of this blog is to get us all thinking about what could be possible.
There are lots and lots of potential with Pattaya if you are willing to work hard but also drive new innovation. I remember when I started my career with Coca-Cola and my manager kept telling me to stop trying to reinvent the wheel and if it ‘aint broken don’t fix it’. I never agreed with her then I absolutely don’t agree with her now. I think the very foundation of business growth is built on innovation and new ideas. It stimulates consumer interest and that, in commercial terms, is very good.
How to Innovate
I do see some innovation in Pattaya but it tends to lack thought or depth, just because you are doing something different does not equate to success. Does the customer want it? Have you got the right location? Who is the customer? I am sure most do not fully build a business model with robustness needed to embed, capture the hearts and minds of its customer and ultimately flourish.
This is why I see real opportunity in town to stand out: But the winners will need to be good
I have a battle with being able to relax as when I do I daydream about what if and I very quickly find myself building some plan in my head for the next cool add on to inspire and working out how it fits into the plan, how it can be managed and how it will work. But, and this is important, allow yourself to day dream and be consumed in your own thoughts. Sometimes I get lost in my thoughts, and when I snap out of it I become aware of my surroundings again. I love it when I get into this zone as this is when true creative thinking happens.
Don’t settle on your first idea
You may hit on a good idea, but don’t settle on it, add to it, refine it. The outcome is a better idea which now includes the semantics.
Listen to others, but make your own decisions
By all means consult and share your idea, but trust your own gut feeling when ultimately deciding what to do. If you are going to start a business in Pattaya, do not invest a baht until you know the plan. Who is your customer? How will your business attract these customers? Have you got the location right? Whats the image and branding of your business – and why (don’t just choose an image as you like it)? Have you a promotional plan? What are your margins – and is your pricing correct for the market? Why are you launching this business (and be tough on yourself)?
If you copy others, you will fail
The town does not need another beer bar or massage parlour. It may, however, need an 80’s retro diner or gravity free massage centre. I am playing here with the ideas, but the message is in trying to be something a little different while still satisfying a specific consumer need.
I am not sure my rationale for writing this blog, I think it is more from frustration at seeing many expats (not all, by the way) open a business that is doomed to fail. The perception therefore in town is that it is difficult to make money. I disagree.