Business Portfolio

FloralHOUSE Anthurium Nursery

Anthurium is a popular floricultural product since it has high ornamental and economic value. It can be used as a tropical cut flower and pot plant for various personal and industrial events all over the country as well as around the world. The demand for ornamental pot plants is increasing day by day. Though the demand is high, many customers are concerned about the quality of the product as well. Many Anthurium pot plants available in the market are in plastic and there is a big issue related to the quality of the product. So in our business, we would like to focus on the production of high-quality Anthurium pot plants for indoor decorations.

1.1. FloralHOUSE as an Entrepreneurial idea

In our Anthurium Nursery, we hope to produce high-quality Anthurium plants with more than five flowers that are potted in special pots made of terracotta. The plant height is maintained averagely about 12 inches and they are used as indoor decorative plants.

Our business idea is considered to be a new entrepreneurial idea because,

§ Decorative Potted plants are natural

§ Anthurium plants are potted in attractive flower pots made of terracotta instead of plastic pots

§ The decorative plants with more than 5 flowers

§ The products can be of 3 Anthurium species pink champion, red champion and white champion

§ Plants are of height 12inches

Challenging product for the plastic ornamental flower decorations

In normal scenarios, most of the plant nurseries just sell the plants in polythene covers for the customers. They are not concerned about a creative way to sell the plants with a little effort. We have understood this gap and then we plan an entrepreneurial idea. In addition to selling the Anthurium plants in the normal procedure, we make decorative potted plants using Anthurium plants to sell for a higher price. With a little effort, we can earn huge profit from this because there is high demand for natural floral decorations from individuals who are interested in ornamental plants, institutes such as Hotels, Banks, private companies, buying agencies and floral export companies. Therefore this kind of business is a new innovative idea to start the entrepreneurial career and reach success in it with low start-up cost.

In Sri Lanka, there is a poor tendency of performing the horticulture industry because of the prevailing laws, low facilities provided by the government so existing competitors for the business is quite low in this area therefore the risk of overall business failure is low.

1. Supportive Entrepreneurial Qualities

1.1. Creativity that does not value when doing a Job in a Company

Normally in the corporate world, they have caged into a monotonous daily routine and rarely take risks to experiment with new products or services. Since this lifestyle is not valued by the creativity of the employees, starting a new entrepreneurial business is much more profitable. Thinking out of bound or experimenting with new products are outcomes of talent creativity.

As an example, suppose a person is carrying out a plant nursery and he just has plants planted in polythene covers and no much effort to increase the sales. In this kind of scenario, the competition for capturing the market is low. Creativity is an advanced weapon to capture the market. In our entrepreneurial business, we think out of the box and apart from the normal plant selling we maintain an Anthurium plant nursery and we can sell cut flowers separately. The uniqueness of our business is we make special decorative Anthurium pot plants for decoration purposes and it totally depends upon the creativity of the entrepreneur. Since I am enriched with this capability I think we can reach success out of it.

1.2. Flexibility in working

In a normal company, there is a time allocation for working for the employees. The employees may be passionate or not regarding these working hours. When starting our own entrepreneurial business there is no time limitation for working and no inquiries related to it. However, it is not possible to overuse this freedom because to reach success in a business we need to work hard and dedication is important. As for my capabilities, I am quite passionate to work in a flexible manner so by starting my own business I can work without any stress. If we are working with an actual passion then success is not too far.

As an example, suppose if an employee is attending to his company by late then the heads of the company will blame him. With all these circumstances he cannot perform his duties well to the company because of the mood that created early in the morning but if this particular person can start his own business then he has the freedom to work in a flexible manner. Even he can work on weekends or at night as well, as he desired. This kind of quality with a strong ambition will show the path of success because there is freedom to work as desired without any third party involvement.

1.3. Keen to Learn

Normally the horticulture industry is evolving day by day with the experiments. Then as an entrepreneur, we should have a strong desire to move with the evolving methodologies in order to reach success. With respect to Anthurium nursery, we need to update you about the remedies for the emerging pests and weeds in order to rescue the plants. Further, we need to learn new Anthurium varieties that evolve out of the experiments. Continuous learning about the domain of the business is important to reach success in the business.

As an example, a new pest attack came for Anthurium species and if we are not keen on learning new remedies then we are not able to rescue the entire cultivation from the pests and ultimately ended up with a business failure. Another example is that suppose new Anthurium variety is introduced with a planting process to the cultivators which produce flowers with a shorter period of time, then as an entrepreneur, we should try out it before the competitors so as to capture the market and earn high profits. Therefore having a quality of curiosity to learn new things about the business domain is important to achieve success in the business.

1.4. Risk Taker

In order to be a successful entrepreneur, we need to challenge ourselves. Without doing any experiment we cannot produce new products to the customers.

As an example suppose the market sales of the business reduced at a certain time period. In such scenarios, it is important to experiment with new market strategies to capture the market. As a solution, we can give discounts to trustworthy customers to increase sales. Further, we can give a free fertilizer packet along with plant purchase. This can be a risk to the business because if we cannot achieve the target sales within the allocated time period, it will be double the prevailing issue. Therefore when taking a risk regarding the business we need to work hard to achieve a positive impact out of it.

Another example can be illustrated as follows, suppose a new soil variety is introduced by the agricultural company stating that it contains all the necessary nutrients required for blooming of Anthurium flowers within a short period of time and as a risk-taker, we should use this product in experimental level without purchasing a huge quantity. By doing so we can minimize the cost expended for it. If there is progress in that we can introduce it to the entire cultivation. This shows how I can use my entrepreneurial quality of risk-taking without hindering the business income.

1.5. Ability to listen to others and accept their feedbacks

Listening is an important quality of an entrepreneur. As the owner of the business, it is important to listen to fellow workers, customers and suppliers. We should accept their feedback without any hesitation. It is important to maintain a friendly relationship with the people who ever interact with the business.

As an example, suppose if a customer comes with a complaint to the plant nursery it is important to talk with him/her about the issue patiently and give out a suitable solution without making him into any trouble. For such kinds of scenarios, listening is very important to overcome any misunderstandings and rescue the good name of the business. As a good listener, always ask questions from the customers than answering to identify the requirements of the customers and work accordingly. When interacting with the suppliers, always talk with them, listen to the products and offers that have, by doing so we can obtain the goodwill of the suppliers and can purchase the most advantageous raw materials to the business. Therefore we can say that listening to others is an important quality that I am enriched with to be a successful entrepreneur.

1.6. Look for related business opportunities

As an entrepreneur, it is important to continuously look for opportunities to increase the sales of the business and increase the quality of the product without increasing the expenditure of the unit cost.

As an example, sometimes there are floral exhibitions conducted by various organizations and if we can take part in those we can introduce our Anthurium floral decorations to new groups of customers and we can increase our sales. For this kind of activity, we have to pay money for the transportation and rent but we can sell the plants, floral decorations to a new group of customers and build up new connections to the business.

As another example, there are several floral buying agencies advertised in the newspapers and online platforms. As an entrepreneur, it is important to frequently check those media and apply for them. Sometimes after inspections, those companies may like to make contracts with our business to buy the floral decorations and distribute them to various events, hotels, companies and even for export. Therefore in order to expand the connections with our business, it is important to check opportunities and grab them as much as possible.

1.7. Potential to rise from the failure

In order to reach success in an entrepreneurial business, we should have the potential to face failures and rise against them. Normally failures are common for all but there are few people who faced them successfully. In my case as an entrepreneur, I have the experience to face failures and find out solutions for rising again.

As an example, suppose if the entire cultivation is attacked by pests and the plant leaves are damaged. In such scenarios, we should carefully identify the type of pests attacked and apply the remedies for that. In order to prevent the failures in the product supply process, we can shift to quick cultivation of new plants with high protection and with the use of pesticides. Sometimes due to this sort of attack, we may lose several orders but it is important to take courage and work hard to minimize the loss counted for the business. In this type of situation, we can claim for business insurance and that claim has to be carefully used to cover the main loss. Another important thing is that we should learn from the failure, though this example is a natural attack we should be properly prepared for this kind of attack the next time. It means that we should carefully examine the plants daily, apply pesticides, use home remedies for proper plant protection etc.

Another example is that, suppose if we are unable to pay the monthly payment for the loan taken, it means that we have failed to achieve the monthly success so without being discouraging we can discuss with the bank for extending the payment period and we can use strong marketing strategies as mentioned earlier to overcome the loss and settle the payments. This shows that applying business strategies at the right moment is very important when doing a business

Out of these qualities, we can start up our entrepreneurial business but more importantly, we should add new advantageous qualities to ourselves in order to reach success in our business.

2. Entrepreneurial Qualities to be developed

2.1. Improve far-sighted decision making

As a shareholder of the business, it is important to plan the business for the future. In my case, I am very much focused on the current goals and have less attention on long term planning which I should have developed to become a successful entrepreneur.

As an example sometimes we need to have a proper long term plan in selecting which species of Anthurium is to be planted according to the season because the buying patterns change with time. As an example companies request red champion more during the Christmas season and during the wedding seasons. Therefore by studying the buying patterns of the customers we need to cultivate the species. If we are unable to do so, we cannot supply the products according to the demand and ultimately the orders granted to our business will be lost. This will affect badly for the good name of the business. Therefore this quality should be compulsory to master in order to be a successful entrepreneur.

2.2. Improve patience

When doing a business we need to work as a team with the fellow workers to achieve the business targets. In my case, I am quite a hot-tempered person who should be minimized when conducting a business. As the owner of the business, it is important to practice patience or tolerate others to maintain the team spirit.

As an example, suppose one worker in the nursery is always lethargic at work, then it is not good to blame him every time. Instead of that, we can assign him to work according to his level of capabilities. As a good entrepreneur, we should make the working place comfortable for the employees. As the owner of the business, it is a must to be patient and listen to the problems, requirements of the nursery workers because they are the human resources that bring profit to the plant nursery. Therefore patients should be compulsory to master in order to be a successful entrepreneur.

2.3. Improve communication capabilities

Communication skills are essential for building strong relationships with the interactions of the business. In my case, I am quite a silent character who does not frequently talk with others but with my passion to start up a new entrepreneurial business I need to develop my communication skills in order to become a successful entrepreneur.

As an example scenario, suppose if a new agent from a company came to the business in order to give an order, the first impression is very much important. As the owner, if it is unable to communicate with him to identify his requirements correctly then we cannot retain this customer for the future. Out of all, we need to identify that greeting the customers, talking with them in a friendly approach and treating the raw material suppliers politely are good communication qualities that we should adhere to.

2.4. Improve positive-minded behaviour

To continue a business we always need to think in a positive manner as we can do. In my case, I am quite disappointed when someone criticizes one of my work. Therefore this quality should be mastered by me in order to resist the criticisms and continue the business with a positive mindset. When conducting a business it is common that drawbacks are raised and when workers are fed up with the business it is important to have the courage to fix their moods. As a leader, it is our responsibility to be optimistic and allow all the team members also to be positive about their work.

As an example, suppose if one company returns the Anthurium flower decorations back complaining that they are not properly designed and decorated. Then without getting discouraged about the complaint, our team should be strong enough to decorate them correctly or prepare new decorations for that company in return. Receiving the complaints is not a failure to be worried. Complaints are the key learning points to add to the working profile and reach success with the help them. We should practice thinking like that in order to achieve business success.

2.5. Improve Financial Planning

Normally our main aim of starting a business is to work with our own rules and our own goals to earn income without any third-party intervention. With all these flexibilities, it is our duty to work hard to reach the business mission and vision. For that, managing finance plays a vital role. In my case, I am not a good money saver so I need to master my Financial Planning capabilities to achieve my targets.

According to our entrepreneurial idea, we have low start-up costs because we do not need any building for this. We can plant Anthurium in the home garden at the beginning and then we can make ornamental plants at home. It is not suitable to invest huge money at the beginning. The best option is to make Anthurium plants in small quantities and distribute them to the target customers to capture the market. After making a stable market we can invest more money to expand the business. It is important to select appropriate material suppliers for the business after having a careful inspection about the supply quotations because sometimes due to improper inspection business may spend the high cost for raw materials which is an unnecessary expenditure.

These points will illustrate what are the qualities that I should add to my entrepreneurial life and are qualities that I should master to complete my business targets. To reach success in any kind of work, dedication, team spirits are much more valued. Apart from them, we need to learn through experience, mistakes, complaints and many more.

In this portfolio, I have analysed my personal traits and it will help to find out the entrepreneurial potentials, weaknesses of mine and improve myself to be a successful entrepreneur.

3. Social benefits from FloralHOUSE Anthurium Nursery

3.1. Provide new Job Opportunities

Unemployment is a huge issue prevailing in our country as a developing country so starting a new FloralHOUSE Anthurium Nursery entrepreneurial business makes a dozen of new job opportunities for the people around Kandy. For our business, we hope to give 7 job opportunities to unemployed individuals. We hope to join a General Manager, 2 Foremen, 2 Retail Associates, Labourer and a security officer to our plant nursery. It is a pleasure to contribute to job creation instead of being a typical employee. Therefore we can say that providing new job opportunities to the people is one of the social benefits that we have created.

3.2. Capture foreign income to the country

Our entrepreneurial business is an Anthurium Nursery. Anthurium is a popular cut flower that is exported to foreign countries. Apart from exporting the cut flowers, we can export our Anthurium decorative ornamental plants too for foreign countries. This will create huge foreign income for the business. Since this is done as a Sri Lankan business, the profit is transferred to Sri Lankan rupees and the Sri Lankan economy also benefited as a result. It is a proud fact that as a business, we can contribute to local economic development which is very much essential right now for the country. Therefore we say that capturing the foreign market is one of the social benefits that we have created.

3.3. Improve air and soil quality

Our plant nursery is a business that is related to the horticulture domain. Since this is a nature lover business, it provides too many benefits for the environment, humans and animals. Anthurium plants help to increase the fertility of the soil when they are planted on the soil as seeds. This barren land can be used for different cultivation after they are rooted in terracotta pots. This way shifting and cultivating helps to maintain the soil quality. When conducting a plant nursery, Anthurium plants are planted in large numbers so collectively they can absorb a significant amount of Carbon dioxide gas which is a greenhouse gas. That will help to improve the air quality. Therefore we say that improving the soil air and soil quality is one of the social benefits that we have created.

3.4. Reduce household waste through composting

For our plant nursery, we need compost fertilizer for Anthurium cultivation. We hope to have a homemade compost pit for that. The raw materials (food wastes) can be collected around the area from nearby neighbours. This will be a proper solution for garbage collection around the area and ultimately reduce methane production. Though we are a start-up business; we can contribute to minimizing the common issues prevailing in the country at our level. This is what we need to do as responsible citizens of the country. Therefore we say that reducing household waste through composting is one of the social benefits that we have created.

3.5. Provide natural floral decorations for events

In our business, we are producing Anthurium potted flower decorations for events. For this, we have used terracotta pots which have a better appearance than plastic pots. These decorations are rarely found in Sri Lanka because most of the nurseries provide cut flowers to the customers. In addition, synthetic/ plastic floral decorations are found frequently in events but if we can provide natural decorations for them at a concessionary price then it will be more valuable. Natural flowers have the potential to reduce the stress of the people and they can soothe the mindset of the patients. Therefore we say that providing unique natural floral decorations for events at a concessionary price is one of the social benefits that we have created.

4. Entrepreneurial Benefits

4.1. Ability to make money by doing something that I am passionate

In order to reach success in any activity, we need to have a passion to do it. As I am not passionate about working in a company, I have decided to start a new plant nursery. I quite like to be with nature and starting a business related to nature will persuade me to do work comfortably.

4.2. Self-satisfaction

By having our own business we have the freedom to change the products that we like to manufacture. Suppose if we want to add new colours of terracotta pots for the decorations then with the opinions of the working team we can implement that. This means that we have the freedom to add on whatever beneficial to the business. At the end of the year as an entrepreneur, we can be self-satisfied with the profit because that is an achievement of team hard work.

4.3. No limitation for income

Suppose if I am working in a company as a typical employee, how much the company is getting profited does not significantly affect the income growth of mine. I am getting the normal salary income and the yearly bonus but this is different if I am starting an entrepreneurial business because the profit earned through hard work is totally vested upon the owner of the business and we can give out a reward for the workers also since the employee count is less.

4.4. Can do experiments without any restrictions from others

Suppose if I am an employee in a company in order to do a specific project or an experiment we need to send a proposal and make it accepted by the board. Sometimes due to unavoidable circumstances, the proposal can be rejected. If I can start up my own plant nursery I can invest money for profitable experiments without any hesitation. As an example, suppose I want to experiment with a production of hybrid species of Anthurium which produce flowers within a short time period than with the approval of all the shareholders I can do it without any restriction.

4.5. No fixed working schedule

When working in a company there are fixed working hours for employees to work. Though there are personal issues, there won’t be any excuses for that. If we can do our own business there are no fixed working hours, we can adjust our working schedule according to the requirement. If we have a huge order, we can extend the working hours to work even at night and if we don’t have much work we can allow the workers to take a rest.

4.6. Independent as no boss to control

When we are entrepreneurs, we can apply our own rules and business approaches to reach the targets. The advantage is that there is no boss to say no to the strategies, plans and skills applied for the business. This can be a disadvantage as well if we don’t have proper business experience and knowledge.

4.7. Stress-free life

Nature is the best medication to release stress conditions. Conducting a plant nursery is giving out many positive facts about life. Inspecting how plants grow, how flowers are blooming is really mind relaxing incidence to look at. In addition, the flora is effective care to rescue from several disease conditions like heart disease etc.

All of these key advantages are gifted to my personal life when I am being an enterprising person