Skip to content

Category: Business

7FigureCycle Review Starting An eCommerce Business From Scratch!

7 Figure Cycle Review Starting An eCommerce Business From Scratch! After graduating from the university, I decided to enter the world of entrepreneurs by creating an online store where I can employ my skills and ride the entrepreneurial spirit that Saudi Arabia is experiencing these days.

Since then, I have been looking for experiences that preceded me in this field for Saudi youth models who went through this experience to benefit from their stories. Unfortunately, the sources were very scarce. None of them recorded their personal experience in creating their own shop in a complete and detailed manner. So I decided to start from scratch, learn, then share my experience with others.

The first step was to create the team, we were three college fresh girls thirsty for our next adventure in life, so we decided to make our next project an Ecommerce store.

what’s the idea? we do not know.
When will we get it? we do not know.
How will we implement it? Also do not know.

After six months of learning, hard work and effort, on April 17, 2016, we launched our first online shop for the sale and marketing of Roses.

Now that we have harvested the fruit, I think that everyone should share our little experience in 10 easy steps. Perhaps it is a starting point for you to start your first online store, and the next Jeff Bezos

7 Figure Cycle
7 Figure Cycle

How to start your first Ecommerce store in 10 steps?

1. “Idea” is the nerve of the project

Whatever your execution of your project is so perfect and perfect, I fully believe that the idea is the most important thing. Many people I know have all the ingredients of a successful project but have been late in launching their projects for years! Because they can not find a unique unique idea that they can bet on.

I like Paul Graham when they asked him, “How can we choose ideas for new projects?” He replied, “Imagine yourself living in the future, and then building what is missing.”

Take your time searching for an idea for your next e-store, hoping for what’s around, and asking yourself, “What’s the thing I wish there was a special store to sell?” Ask around yourself this question and collect their answers, perhaps you will discover an idea you never thought of before. Do not rush, think well before you decide. (This post-writing column may help you generate ideas)

2. Feasibility study and building business model

Did you choose the idea? Excellent! It’s time for you to move on to the next step.

If you do not know how to prepare a feasibility study for your idea, you can use many consultants that provide services to small and medium-sized enterprises at reasonable prices (such as OceanX or Eastern Business Services It is supervised by a selection of the most prominent Saudi girls in the fields of marketing and accounting.

On the other side of the scale, you should start building your business model. Fortunately, the great publishing house “Jabal Amman” translated the famous book “Creating the Business Model” into Arabic and allowed everyone to download part of it for free through the book site from here. 7 Figure Cycle Review book is a valuable treasure It is important to be in the library of every Arab professional entrepreneur (you find in the library of Jarir and the shop papers).

3. Identity design

Now the features of your project are clearly shaped, the idea exists, the study is there, the plan is there, and now you are preparing for the actual launch. At this particular stage it is very important to give your project a professional character, by designing an integrated identity for your project and choosing a distinctive logo with distinctive design and colors that you will encounter whenever you talk about your project. “I can see how professional you are in designing the identity you chose for your project!” I was surprised that he did not comment either on the idea or on the plan, But on the design of the store logo!

Many young Saudi talents – whom I am truly proud of – have brightened their star in the world of identity design. Such as Sulaiman Abdullah, Abdulaziz Al Jafan, Maha Al Rayes, Abdullah Al Shehri and many others who you can use to design a stunning and wonderful identity for your project. (By the way, my friend Kholoud is offering free logo design for emerging projects as a voluntary initiative. You can communicate with her through the initiative page at Instagram)

4. What will you sell?

Product, the second most important corner of the project.
What products will you sell?
How will you sell it?
How will the outer shape of the product be?
Do you need factories to make containers or similar?

While we were working on a rosette shop we needed to look for factories to manufacture plastic containers, do not hide you. The process was very cumbersome at first because of our previous knowledge of these things. But after the search discovered a great treasure opened to us by the Ministry of Commerce and Industry Saudi Arabia through its website, which is an industrial directory that collects a list of all the factories located in the Kingdom by type of activity or city in which there is contact data in front of the name of each factory.

The final form of your product is very important, as you develop your product imagine yourself that you are the client .. Would you like to buy this product you developed? Are you ready to pay and buy it online?

“Search and compare” is useful at this point, look for products that are similar to your product – whether in the local or global market – and compare your product with these products.

Is there a feature in your product that does not exist in others?
How can you benefit from the features of products already in the market?

Make sure your product is superior to others.

Also important at this stage is “pricing”, pricing is an accurate process that you should take care of and choose the price that best fits your product and achieve a profit margin that benefits you. There are several types of pricing, this topic will benefit you a lot.

5. Resources

I mean all the resources your project needs to show professionally and formally, from financial resources, through the commercial registration of the project – and this is a very important step – and registering your brand.

Of the resources that are also important to you as an Ecommerce store are the suppliers from whom you will bring your goods. If you are cooperating with large companies or for example well-known brands, it is best to make sure that you are done with them at this stage. As a tried-and-true advice, make all your dealings signed by the parties to ensure your right and things are clear from the start. If you are confused about how to draft contracts, I advise you to hire a law firm that provides consulting services to small and medium enterprises.

6. Open bank accounts for your store

Now it is time to start opening bank accounts for your small shop so that your customers can transfer payments to you. (It is important to mention here that you have to issue a commercial register for your store so you can open a bank account on behalf of the institution. All Saudi banks require a commercial register for your project until the account is opened) . When we got to the step in the process of building our shop for refunds, we took care of which banks we choose so that they are suitable for most customers. Ask someone around you and do a quick survey to see which banks are the most convenient and convenient for your customers. More professionally, you can issue a Visa card on your organization’s bank account to use to open your own PayPal account and make it a payment option in your store. I personally trust the stores that allow me to pay using PayPal.

7. Shipping and delivery service

One of the most important fundamentals of your 7 Figure Cycle Review online store is choosing the shipping company that will deliver the purchases to your customers. There are many reliable shipping companies such as FedEx, Aramex, DHL, UPS, Saudi Post. Recently, new carriers such as Alma Express and SLS Express have emerged. It is worth noting that some of these companies offer payment service on receipt “COD: Cash On Delivery”, others do not offer (FedEx, for example).

As a business with a commercial record, shippers will deal with you differently. In other words, you can open an account with them so that the price of each shipment is reduced according to the number of shipments you send per month, the higher the number of shipments the less the amount per shipment (Etgar announced months ago an agreement signed with shipping companies to reduce the cost of prices Shipments to reliable Ecommerce stores, here the news item). Once the account has been opened with your name, the shipping company will deliver you your own shipping policies (printed with the sender’s data that is your store) and all you have to do is fill in the sender’s data – your customers.

8. Packaging Service

After the customer has made the purchase, he must prepare his purchases securely and neatly until he is shipped and delivered to the customer without any damage or shortage. In fact, when we were looking for suppliers who provided packaging services for our small project, we found them very few. Most of them were factories that required that we print large quantities of shipping crates (10,000 cartons as a minimum!), Which of course exceeds the budget of any new project. So we started looking for other destinations that offer us what we want in the amount we want and at the price that suits us. We found that the only competitor in the market currently is: U-Moov Packaging Services. We also found some of the providers of packaging and shipping solutions at small costs suitable for small enterprises (including paper, for example).

10. Congratulations on you store!

Imagine the expected scenario for the client’s shopping process from your store, and let’s check the completeness of all the steps:

Opens your website ✔︎
Browse Products ✔︎
Add them to your shopping cart and complete the payment for your store account ✔︎
You are then processing the application ✔︎
And delivered to the shipping company for delivery ✔︎
Excellent! You are 100% ready now

This is the summary of my experience in building our online store. I hope this post is useful and clear to everyone. If you have a similar experience, please share your experience and tips in the comments below, and I would be happy to read any suggestions or additions that might make this post more comprehensive and useful. You can communicate with us.

Now what are you waiting for? Start immediately by building your first online store!

Reflections On Family Business Centers

Reflections On Family Business Centers In recent years, the number of centers dealing with family business has increased. This raises questions about the reasons behind this HB Swiss Scam increase and the mechanism of these centers and their different methods of providing various services to the communities in which they are located.

Reflections on family business centers

Professor Ken Morse, founding director of the Australian Family Business Center (ACFB) at Bond University in the early 1990s, focused on scholarships to help develop and upgrade the Center to become a large, multi-faceted institution. Morse is currently CEO of Morse, a family-owned consulting and knowledge management firm with his daughter, Anthea. In the following interview, Mr. Morse talks about his experience and expertise in this area and provides a closer look at the family business centers.

Family Business
Family Business

How did you enter the family business sector?

The family business sector attracted me for the first time when I was an accountant. A public accounting firm offered a scholarship to do some research for a national project. I received the grant for the academic year 1992-1993 and adopted a life cycle perspective to explore family businesses. Later, my focus and method of work were developed. The Australian Family Business Center was officially opened in 1994 under the supervision of an advisory board.

In the absence of a family business organization or organization in the country, the Australian Family Business Center developed an initial strategy focused on research and development of networks. There was no academic education at first, so the center instead sought to engage effectively with family business conglomerates, Later, other branches of the Center were opened throughout Australia and the various family businesses and organizations were contacted through newsletters, events and forums. In 1996, the University hosted the first national family business conference. It should be noted that the establishment of an institution or a body concerned with family business was necessary for the research agenda of the Center because it dealt with the issues and issues related to the affairs of family businesses and addressed them in all aspects.

Shortly after the first conference, the activities and activities of the network provided services to the community and the family business sector, eventually turning to the FBA, which is currently the largest family affairs and business organization in the country. And has been hosting the National Family Business Conference annually since 1999. These responsibilities and roles played by the Commission in bringing together HB Swiss family businesses have enabled the Center to add an academic education file to its research series. Over time, a bachelor’s degree program and a master’s degree in business administration specializing in family businesses were introduced. In addition to completing his research, the Center launched doctoral studies, as well as its design and development of the executive education program for the Australian Family Business Authority. Reflections on family business centers

What types of family business centers are present and what are their purpose?

Before the establishment of the Australian Family Business Center, we looked into the family business centers that existed then. Given our long-term plans to build a research center, we have seen that many of the centers that existed then existed within institutions that had little activity in research. We also found that some of these centers served the purposes of extension education and membership, with limited activities and activities to local communities. This is a natural thing that explains why family businesses stay out of mainstream business management programs. Hence, the Center has adopted an alternative educational program through the publication of research and evidence-based materials that have been the product of our research efforts through formal and executive education programs for the Australian Family Business Corporation.

After all, I can say that there are two distinct types of centers, those that focus on instructional education, those that examine and promote evidence-based education as formal programs.

What are the key performance indicators for any family business center?

Performance indicators depend, of course, on the quality of these centers. For example, performance is assessed in the membership-based extension education centers, on the basis of membership in quantity and quality, as well as in accordance with the volume of income. Membership is enhanced through the frequency of activities and activities targeting members and their communities.

Performance indicators in research and education centers are usually based on those used in standard academic assessments, in particular printed research, grants, graduation of students at various levels, and the quality of teaching measured through measures and procedures adopted by the University.

How can communities and institutions benefit from these specialized centers?

The community benefits from effective family business centers between professional development and advocacy. The centers contribute to promoting the development of the professional fields of family businesses through the development of new knowledge (by research and educational centers), or disseminating this knowledge to improve application and practice. Improvement of practices comes directly from family business owners, or indirectly through the recommendations of their advisors. Family businesses also benefit from centers by focusing on their issues and drawing their policy makers’ attention. Advocacy through evidence has shown that policymakers often overlook family businesses and issues. Family business centers can also help different institutions, such as universities, to take on distinguished positions in the competitive higher education sector, and professional institutions can provide excellent services to their members, especially executive education services.

We have seen growing growth of family business centers around the world. What is your explanation of this phenomenon and why now?

That’s true. We have recently noticed an increase in the number of centers, due to a number of reasons, most notably the international recognition of the enormous and significant size of the family business sector. It is generally known that these types of HB Swiss companies dominate the business landscape of most capitalist economies, a fact that, in addition to neglect and lack of research, highlights the urgent need to learn more about these companies. Here comes the centers that focus their efforts on family businesses and carry out various research that helps us understand this neglected sector and learn more about it. In addition, these HB Swiss companies and their distinct nature of work are increasingly recognized as a distinct tool that contributes to the overall management and conduct of business. Another reason is the generosity and generosity of family businesses, a fact whose importance has been recognized by universities in particular who have come to believe that these families can be a major source of donations and contributions.

What is the future of the Family Business Center model?

Given my strong bias and support for these centers, I think there will be several models and not just one model. I also think that centers that depend on local membership will lose their luster and gradually fade, while research and education centers will have a brighter future, Affiliated to institutions and associations that rely on professional membership.

The Life Cycle Of Family Businesses

The Life Cycle Of Family Businesses The story of a family company formation unique story. Uniqueness will depend on the way the family and think about the conditions and the economy in general and other factors within the control of human or abroad. There are, however, typical patterns can be observed in the evolution of family businesses. The way they evolve normally appear in stages and certain challenges and strategies are applied. The success or failure of a family business on many different factors depends. Discusses Dr. Hisham Al-Ajmi Executive Director of the Forum for the wealth of the family and the founder of the Journal of the fortunes of the companies, the life of a family business cycle, and the Omnia Software factors that can be controlled and those that can not be controlled, and how it turns out that the family unit is of great importance and is the basis for the success of the family business.

Puzzle continuity of family businesses

Statistics indicate that the majority of family businesses do not last beyond the third generation. This is in spite of the multiplicity of competitive advantages that the family business may be available, such as the influence of the family name of the significant potential and trust between family members of the company and the long-term trend because of a desire to provide for future generations the family and many other advantages. Why is the failure rate rise to this degree? In fact, the succession is the most common factors in respect of the reasons leading to the suspension of family businesses. The Omnia Software company’s transition from one generation to another requires significant organizational efforts and sometimes emotional as well as the efforts of the family company, facing a lot of family businesses obstacles impossible in this transitional phase. However, the succession is not the only reason for the failure or conflicts; many dimensions of family business management method determines the possibility of continuation.

Family Business
Family Business

It’s interesting, because once you pass the family business to this stage that most frightening and similar companies have failed to overcome, it is clear possess great potential to continue for too long. The success of the family business for decades or even stories spanning centuries until it became a part of history. Collection of historical family businesses are part of the Omnia Software ; a special union family businesses and companies that up to two hundred years in age. There is also a union in the United Kingdom small and medium-sized businesses, a “Altersentnarnz” Tercentenarians which consists of ten companies owned by families, and all of these ten companies older than 300 years. One companies to the Union Bank is C Hoar & CO banking and investment services, which was founded in 1672 and is probably the oldest family-owned bank in Europe. Honorary member of this union are Hugel Winery French company which was founded in 1639 and now run by atheist tenth generation of the family.

In fact, the continuity of family businesses look as if it were a puzzle to some extent. It seems that some people know the solution to this puzzle and continue to manage their businesses successfully even without changing the actual activity often. He wanted “Larry Di Joy” in the magazine article, “Harvard Business Review” to solve this puzzle. The end result reached by this researcher is that a family business that last for decades or even centuries to the companies that possess the most stable personal: “They know the truth themselves, and they realize their position in the world and appreciate new ideas and new employees and save their money in a way that allows them to dominate.” Overall, this is what the family company’s success is attributed to the extent of uniting the family; and the strength of the alliance, which brings together members of the family supporters to mark the company’s business. In spite of that, this is just my opinion and does not provide a lot of adopting him as to how that should be managed by companies in order to ensure the continuity of their success.

It mentioned the challenges associated with the succession to justify the high failure rate of family businesses. However, we know the companies did not cause her any succession difficulties However an estimated her to continue beyond the third generation. The rise and demise of this family business rate just can not be explained by family conflicts, but can be interpreted to the way they are managed and how to adapt to the macroeconomic and microeconomic factors. In fact, he said, “Joey D” (in 1997) that the family business for a long life characterized by a very good ability to “change management.” With the speed of the rhythm of the economic climate has changed, it became logical to say that adapt to the new circumstances, the speed will largely determine businesses’ opportunities to survive. In order to adapt before it is too late, the determination of the needs of the change in time comes in the top ranking in terms of importance.

That is why there is a special interest in following up the various stages that are usually experienced by the family business and when the need for change and thus show the change management become one of the very important things.

The life cycle of family businesses

Normally, the family business going through certain stages of the development of its business. The sequence of these phases can be called life-cycle professional family business (see “The Life of a family business” cycle).

It begins with the establishment of a new family business aspirations of its founder. And starting from this point is the way in which the company is developing a direct result of combining vision of the founder and his position from running risks.
At this stage, it is important to see the impact on the dream of the founder and his vision automatically traditional values ​​of the environment and in the spirit of the times. While his dream is gradually becoming a reality, it is noted how increasing founder keen to protect the fruit of his efforts and thus would prevent the company from carrying out any risks are exaggerated. Look “Innovation and reservation” stage This is a natural result of the owner made his way with difficulty through the company initially cumbersome and desire stage now in maintaining the ground gained.

At a later stage, the company opens its doors to gradually join the second generation, which has its own vision and sometimes sweeping desire to make more strategic thinking and organization work more professionally. Usually gets a new generation of modern education and technological knowledge of contemporary feature, which employed to direct the stage of the “Professional” This is a family company. Pumping the most professional company in the limbs of this approach might happen under the leadership of founder may not occur until after the inauguration of the second generation of the reins. Professional crucial stage as it lays the foundation for the company’s expansion. The best possible scenario to happen is to be the main outcome of this phase of the cycle of professional awareness of the owners of the company Alriisieh activities in which they work and begin to look for new opportunities.

The next stage is the stage of “expansion and restructuring” and requires a lot of effort from the management towards innovation and to do as much as risky. It is a stage based on the reformulation and re-organization strategy. In many cases, it is the new starting point, where the family business is due to the initial vision of the founder and the twins to face more serious current challenges. Normally associated with the expansion needs of family company into a restructuring phase. Often this stage coincides with the increasing number of family members joined to the work of the company (including in-laws and cousins) and requires a more systematic corporate governance rules. This phase is undoubtedly the most crucial stages in the life cycle of the family business. It symbolizes a turning point: You may write to members of the family and their company, or may continue Etcherzmon and disappear from the scene.
If the family company has been able to pass the “expansion and restructuring” phase, they enter into the next stage, which could be called the stage of “integration.” This phase calls for the reservation to the memory founding in the early beginnings of the company. A merger of the need to focus on commercial systematic discrimination of products and services, and this is by integrating distribution channels and further expansion in the local and global markets operations. It’s closer to reviving the company.

The life cycle of a family company

Does this course apply to all family businesses? Is it necessarily requires a succession of several generations of the passage in this session? What happens if a family company from the establishment phase moved directly to the expansion phase? What kind of impact that their culture and traditions of the family (the core values) on the life cycle of her company?
These questions and many other questions related to the life cycle of family businesses and the answers will vary from case to case.
In general, we can say that the best business model in the family business would be fruitless without the family unit to support the different stages. Pass the different stages on the professional way to manage the company will not only support, but in the end always will depend on the combination of professionalism and strength of family cohesion and contiguity who Ademanha. It also requires a sense of reality; the family must pay attention to the most basic indicators to the existence of conflicts and disagreements in the family company.

Application for family businesses in the Arab

One of the key aspects affecting the life cycle of family businesses is the cultural frameworks and traditions surrounding. For family businesses in the Arab, you must take into account the life-cycle model many internal and external factors ins.
First, the installation of family businesses in the Arab world is different. Families live in a more social environment and are often more numerous. This makes issues such as stakeholder structures and redistribution essential part of the continuity of the family business and unity. The importance of this in the “expansion and restructuring” phase, where families often experience changes in institutional structures and the need to modify their ideas, which may represent a challenge based on the number of stakeholders involved and non-participants.

Second, there is debate between the fact that the Arab culture-oriented entrepreneurship and investment, but at the same time is typically used a conservative approach to business performance. This conservative think sometimes interfere with innovation and entrepreneurship. However, the Arab family businesses characterized succeeded in their life cycle developed sense of realism to the extent that it can be applied to this conservative thinking and processed in accordance with the conditions and the status quo.
Third, there is the influence of society on the Arab family businesses. Affect their efforts to protect their reputations on the way they communicate and the decisions they make. Usually it represents the founding contract of trust with the customer values. So The founding of the company trade mark is happening from the beginning as early as the “innovation and the reservation phase.” At the moment, consumers returned again to embrace the thought of saving. Tend to the old way of thinking after the era of overspending the limit as a result of recession-free for years. If possible, keep as much of the traditional family through the company’s life cycle, we’ll Arab family businesses maintain a competitive advantage in today’s markets. Trust and expansion in accordance with the calculated risks should be a strategic goal. And we must not risk the reputation of the company in all phases of the family business life cycle.

There are many special features which may work on the formation and modification life cycle of the Arab family businesses. Above all, though, The management of a family business can be a challenge at any stage of their life cycle. In the end, successful family businesses are what make the family unit and ideas strategic priorities at all stages of their life cycle.