Associate Dean and Professor for Small and Medium Enterprises and Marketing of Faculty of Business and Economics of Pannasastra University of Cambodia

Having a plan in hand, as a businessman, is important because it is a road map, guiding and directing you where to go and what to achieve in the business. This plan really can help you achieve your goals, fulfilling your dream/vision. It is like the statement made by Prof Eng Kimsan that “Vision without action is like a day-dream”, but “Action without vision is like a nightmare”; therefore, it is necessary for any businessman to develop a business plan before entering a real life business. In this regard, a business plan can show you the entire layout of the business operation and its core elements, structures and the management system and strategies that you have to undertake to succeed in your business goals and objectives even short, medium or long term.”

WE SPEAK

The top three finishers in ANZ's second annual business plan competition talk about their ideas

Heng Tokyo, 23

Biz plan: The CAMMEAT SHOP

My business plan is to open a meat store. Nowadays, people go to the market when they want to buy beef, pork or other meats and mostly they have to wake up early in the morning; otherwise, sellers will run out and you will be forced to buy low-quality products.

My plan is to open a modern meat store that will be equipped with air conditioners to store meat in ideal condition just like I have studied. We will be open from 6am until 9pm. We also have discount or promotions.

Phlek Mealea, 23

Biz plan: Twinkle Child Care Center

The Twinkle Child Care Centre, which cares for children from three months to six years old, is my business plan because I think that when people become busier, they won’t have time to look after their children. So, if we run this business, we can reduce a lot of their concerns and we also can make a lot of profit because currently, there are not many places that offer these services.

Ung Keang Cheang, 19

Biz plan: The Student Memory Tour

I decided to plan the Student Memory Tour as my business because I see improvements in this sector, especially among students. I have also developed a very creative strategy that will allow me to capitalise on the current demand and beat out all of my competitors.

I also urge other people to think of an idea of making a business plan related to energy that we can derive from the sun, the air and wave so that we can get rid of something that can be affected to the environment.

Do you think these ideas will fly in the kingdom? If not, do you have ideas that will? Tell us what they are at angkorone.com/lift