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This question has been closed, and points have been awarded.
Starting My Own Venture Immediately
Posted By: cuteharika on 5/12/2005 12:53 AM (CST) 250 Points
hello! iam harika.iam in the 2nd yr of BBA & very much interested in setting up a boat manufacturing unit.iam keen on it and want to start off now!.my objective is to set up an unit which will not only cater to domestic needs but also have high standards of quality needed to enter international markets{mainly exports}.plz suggest in this regard .

Posted by: billc24 Member Response
5/12/2005 1:13 AM (CST)
harika,
I am not clear what you are asking. Please elaborate what you would like us to address. Thanks!
Bill
 
Posted by: mgoodman Accepted Answer
5/14/2005 9:10 PM (CST)
Start by understanding your target market. Talk to people who have purchased boats like the ones you're thinking of building. Ask them what they like and dislike about their boat, about the shopping process, and about how they decide on which boat to buy. Don't try to sell them anything. Just ask high-gain questions and listen carefully to what they tell you. Take detailed notes.

After you've spoken with at least a dozen of these people, look through your notes and see if you can identify a positioning for yourself that is truly unique and benefit oriented. Be sure it addresses the expressed needs of your target audience.

Then create a marketing plan and a business plan. Don't rush. Do it thoroughly and carefully. This is the most important part of starting a business.

Only after you've done the planning should you begin to develop the operational elements of your business. Don't fall into the "if you build it they will come" trap. Write down your objectives, strategies, and detailed plans. You'll probably need them anyway in order to get funding. Even if you're independently wealthy, you'd be smart to plan carefully before you do anything else. You'll find it pays back big dividends.

Hope this answers the question. Let us know. BTW, what country are you in? When you say "domestic," what market do you mean? I have a brother-in-law who spent 13 years building boats, and he says it was the most rewarding, enjoyable time of his life ... even if he never became rich or famous!
 
Posted by: coupon man Member Response
5/16/2005 1:30 AM (CST)
don't worry...i've already got the elephant!
 
Posted by: et3dotcom* Accepted Answer
5/26/2005 1:46 PM (CST)
Harika,

Your plans to enter the boat building field are commendable.

I encourage you to build the boats to internationally accepted standards. The following organizations can help you out.

IMCE (International Marine Certification Institute )CE certification for the common European union, http://www.imci.org

NMMA (national marine manufactures assoc. in the USA http://www.nmma.org/ )

The ABYC american boat & yacht council) http://www.abycinc.org/

I was a design engineer (via 3-d computer modeling) for a major boat manufacture for 6 years. In addition to design and manufacturing documentation, I was also responsible for certifying the boats for export, ensuring safety compliance, and writing and illustrating owners manuals, and various test procedures for handling and stability.

The most effective marketing is via a dealer network, boat shows (local and international) and local word of mouth following. Dealer direct is the best way to start small. Focus on value and reliability. If you need specific help let me know.
 
Posted by: cuteharika Author Response
5/27/2005 2:29 AM (CST)
thankyou et3dotcom & mgoodman. i live in india & i was refferin to the same local mrkt. somehow boating is not a part of our lifestyle in here like in the west & no custom of buying boats exists.it is yet to develop n i want to capitalise on that.also,that is why i donot know the intricasies of the industry.it is only through people like you can i get the most valuable & practical infomation needed for the venture.i would post the required queries as & when required.keep ur responses cumin.
thanks for showing interest.
 
Posted by: carrie77 Moderator Response
5/28/2005 3:03 PM (CST)
Hello all. I am closing this question since it's more than 2 weeks old. We do this to reward the contributions of participants in a timely manner + to give increased visibility to the newer questions.

Thanks for participating!
Carrie (Production Editor)
 


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