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Think Innovative, Act Creative A Female Entrepreneur Should Know Presenter: Justine Liu ENJEWELED CO., LTD.

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Presentation on theme: "Think Innovative, Act Creative A Female Entrepreneur Should Know Presenter: Justine Liu ENJEWELED CO., LTD."— Presentation transcript:

1 Think Innovative, Act Creative A Female Entrepreneur Should Know Presenter: Justine Liu ENJEWELED CO., LTD.

2 Current: CEO & Founder of ENJEWELED CO., LTD., Founded in 2009 Education: –MS Degree, The Pennsylvania State Univ. USA –EMBA Degree, National Cheng-Chi Univ., Taiwan Past Experience: –3 years: Special Assistant to Chairman of MiTAC International Corp. –8 years: Global Marketing Director & Spokeswoman, MiTAC International Corp. –1 Year: Global Marketing Director, ADATA Technology Corp. Awards: –2012 Small Business Innovation Award, SME, Taiwan –2013 Female Entrepreneur Award, Business Startup Phoenix Plan, MOEA Patents: –Real Flower Jewelry Production Process Patent in Taiwan & China Who is Justine?.....

3 Key Factor about Justine Past Experience: 3 years: Special Assistant to Chairman of MiTAC International Corp. 8 years: Global Marketing Director & Spokeswoman, MiTAC International Corp. 1 Year: Global Marketing Director, ADATA Technology Corp.

4 The brand I want to say…..

5 We believe …… Real flowers brings out the caring and subtle nature of women’s beauty and personality. Each jewelry is so unique as no flower looks exactly the same and requires delicate handcraft and skills. Innovative materials and techniques in conjunction with creative designs is the key to success A business most suitable for woman as 90% of our customers are women, the initial investment is low, and the craftsmanship is a key.

6 Year of Founded: 2010 Technology: Real flower element development, patented in Taiwan & China Number of Office Employees: 4 Number of Factory employees: 8 Type of Business: Manufacturer, Exporter and Wholesaler Products: Imitation Jewelry and Decorative items made from real flowers Sale Proportion Domestic 30% : Export 70% Capital NT$15 M Annual Capacity: 200,000 flowers What we are…. A small company with a potential of GROWTH: Real Flower Jewelry Real Flower Elements Real Flower Craftsmanship Real Flower Franchise

7 Help more women to found their own businesses in real flower jewelry space We Have Mission……

8 燈飾 香氛燈 VIP 禮品 How the real flowers are made? Fresh flower processed & dried shaping the flowersFlower coated by natural resin Jewelry design Real flower jewelry finished products

9 Turn real flowers into jewelry….. Daisy Cosmo Orchid Carnation Peach Blossom Sun FlowerGebera Orchi d Mum Cosmo Water Lily China Aster Hydrangea Rose

10 Real flower elements is an INNOVATION… Peach blossom orchid Mum cosmo water lily rose China asterhydrangea carnation Sun flower daisy gerbera

11 Design is a value-added key…

12 Why we are unique….. Grow in Taiwan: Our products were 100% made of real flowers in Taiwan as flowers grows full year in Taiwan and has a great mix of species, which help reduce the material costs dramatically. Work with farmers: Each real flower are carefully hand picked to ensure the quality and size of the flowers. Environment consciousness: We use only environmental friendly and GMP certified materials to make flowers. Technology: chemical knowledge, preservation technique Craftsmanship: it takes 2-3 years to grow a skill worker and we teach women who needs this techniques to found their own business An work environment for women: 90% of our employees are working mothers or second employed women, flexible work hours A place for woman entrepreneurs: We help woman to found their own businesses through franchising

13 Woman Entrepreneurs in Taiwan Background

14 Most female entrepreneurs age 31-40, married. 6% of adult women (age 18-64) in Taiwan engaged in TEA (Total entrepreneurship activity) vs. 12% in US and 17% in Peru, Global Entrepreneurship Monitor, 2012 Woman’s Report 70% of female founded company, capital less than NTD1 million (USD35K) and annual revenue NTD8.4 million (USD250K) Women have low perceptions about opportunities and fear of failure is generally high few women have personal affiliations with entrepreneurs. Female entrepreneurship stipulation and program is few: the flying goose program, the business startup phoenix plan A quick look of Taiwan’s female entrepreneurs

15 Work-life balancing Knowledge on how to run a small business Leadership experience Access to funding No mentors to show them the ropes The liabilities of newness and smallness Constraints of Female Entrepreneur

16 Focus Time Management With directions and vision: what I want to be in 5 and 10 years Confidence Work smarter not harder: outsourcing the job you hate Think like a business owner Surrounded yourself with other successful people Picture of a Super-Productive Female Entrepreneur

17 Great Idea = Business Model No One Did Before = I will be Successful Paradox of Entrepreneur

18 Self Evaluation: Performance Index of a Entrepreneur Personal Characteristics Motivation Attitude Resource Knowledge asset Social capital Financial capital External Opportunity Environment

19 born in a traditional Chinese family, where no one has the experience of entrepreneurship I have been working in a public company and multi- national enterprise that I could stay working until I retired Woman in traditional Chinese society are viewed as the 2nd income to the family. My background

20 I have established a global marketing team for Mio GPS I have established a global brand – Mio I have founded a foundation for Mitac group I have published a book for Chairman miau My experience

21 My IT background in the past decades encourage me to see things from a global view My mentor is chairman Miau, who is one of the greatest entrepreneurs in Taiwan Since 2009, Taiwan government encourages the growth of Culture and Creative industry I studied in an EMBA program between and met a lot of small business entrepreneurs. I studied in jewelry design, silver smith and semi-precious stone class since 2007 My motivation

22 I am ready to face my fear and failure I am confident of myself and products I know what I truly love I am persistent: be ready to work when things are going fabulous and terrible Am I able to turn risk into opportunity I have a right attitude to do so

23 External environment

24 Environment: spot silver 10 years price trend

25 Opportunity: 2010 Taipei International Flora Exposition

26 Opportunity: My EMBA colleague offers me a rental space in a tourism spot

27 Resources

28 Initial stage I got supports from research institutes Then I got a partner in the research institute who wants to invest me I registered the process patents in Taiwan and China My partner found me to work in a college incubator I know how to sell product overseas I am an expert in establishing brand Knowledge asset

29 My EMBA classmates become my best social capital resources My network with Mitac Group has become an important social resources My award in woman entrepreneurs has won me good connection with venture capitals and angel funds. Social capital

30 I use my saving in Mitac group to start the company Then I partnered with my EMBA classmate to found this company In the 3rd year, I collected investment from my EMBA classmates who are also entrepreneurs and an venture capital who invested in woman entrepreneurs only I was accepted to enter an incubator in my first two years I got government supports for research projects Financing capital

31 Personal characteristics Environment and opportunity Self development and realization Personal economy pressure Not satisfy to previous job Family reasons Self-Evaluation: Motivation to be an female entrepreneur v v v

32 How to build a sound business

33 Product quality Key activities: SOP, management, control, budgeting Value proposition: what customers really want Key resources: can you own the key resources? Revenue: added-on revenue in addition to core product itself Key partners Customer relationship A beautiful picture of a good startup business

34 The first challenge is teammate

35 Honesty Common Value of Life complementary personalities, expertise, experience How much resource my partner can devote to our company: time, money, relations, expertise? A right partner can bring much more chance to win

36 No man wants to be my partner No women dare to be entrepreneur Met someone who we used to achieve something together in EMBA program My investment is 80% vs. 20% from my partner She has complimentary knowledge, background in chemical and quality control We share common value of life My initial partner

37 What’s your competitive edge?

38 A brand new creation of product, service and process and monetize these into market values Any change in product, process or service is viewed as innovation 。 Any small scale to large scale of improvement of product, process or service is considered as innovation. Is my product innovative?

39 Turn real flowers into jewelry materials Branded the real flower jewelry and elements Business model innovation: from selling to teaching and help grow other women by franchising My innovation

40 Product innovation Production innovation Sale and marketing innovation New markets exploration New material application You also can choose other innovations..

41 Customer Segments: age, occasions, channels Value Propositions: do I satisfy customer’s needs Channels: how do I deliver my product value to customers Customer Relationships: SNS on line, and grow with your customers Key Resources: do I own key resources Key Activities: streamline the production process Key Partnership: is my partner a silent partner or an active teammate Cost Structure: reduce labor costs is a key Revenue: scalable growth, franchising my business Am I able to convert innovation into a revenue generated business model? 《 Business Model Generation 》 by Alexander Osterwalder Business Model Generation

42 Perseverance Passion Customer Relation Encourage internal (employee) startups Quality assurance Stable financing Scalable business model Factors to continue growth

43 Knowing market status Own competitiveness Have a growth plan Have a clear goal Have a good startup partner With financial capital support Leveraging government resources My Advice: Must-have knowledge to run a new company

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