Jump starting a business, adapting for Industry 4.0

Danial Norjidi

Founder of fashion company Mayang Couture and a group called Femmoghul Nurul Izzati Naqibah binti Zaidi spoke about the importance of adopting technology and Industry 4.0 in business during a Women Entrepreneurship Sharing Session at Universiti Teknologi Brunei (UTB) last Saturday.

The session was organised by the Career Guidance Unit of the Student Affairs Office of UTB. Nurul Izzati’s talk titled ‘Jump start you business and adapt technologies for becoming Industry 4.0-ready’ aimed at encouraging students to do business, while having a university life and operate businesses with Industry 4.0 capability.

“Business is a process that is not easy. Having a business, you think about your products and you think about profit. How does this generate profit? You think about what the cost is, what the margin is when you want to sell something.”

She highlighted the importance of focussing on products, profit and customers.

“When you have a product, it is supposed to be in demand. If you like it, but no one else likes it, do you think people will buy it?

Founder of Mayang Couture and Femmoghul Nurul Izzati Naqibah binti Zaidi speaks during the sharing session. PHOTO: DANIAL NORJIDI

“Mostly, business is about sustainability. If you have big ideas, but you don’t want to sustain it, then what are you doing it for? You have to think long term.

“When you have the right products, you manage to get the right profit, you manage to get the right market, and therefore you will get sustainability.”

Nurul Izzati also highlighted the importance of being passionate. “Passion will drive you and motivate you. It will make you want to learn and will push you. Having passion means having something that you really want.

“Having a business, you have to know your interest, your passion. Other than that, you have to know what products you are selling. What type of things people will need, want and keep wanting – things that people will always want to have.

“If you have something that’s just one time, do you think it will sustain? If you have an idea, what are you going to do? Have something that is sustainable.

“If you see mass market production, it has a high level of demand, because people keep on buying it,” she said, noting examples of necessities such as toothpaste. “Some things that are unique and highly customisable are also high in demand. That’s why we have to see what type of market we are looking at. We have to identify our potential customers and what products they want.”

“Things that are unique on their own and satisfy people’s needs are very important. It would be good if you like and are passionate about the products you are making.”

She also highlighted the importance of doing research and having a good understanding of what people want.

“Once you know what product you want to sell, you have to understand what makes it different from others. You have to think, what is the uniqueness you are going for?”

Nurul Izzati spoke about Industry 4.0, or the Fourth Industrial Revolution. She said Industry 4.0 sees the integration of technologies and software with the Internet including Internet of Things (IoT), machines and automation as well as artificial intelligence (AI).

“With the Internet, software and technologies are integrated into one. This gives a very big advantage to businesses because it can give a competitive advantage and efficiency.”

She also said social media provides a platform for businesses to reach and communicate with their customers.

Another topic of her presentation was branding. Among the points she highlighted was that it is key to make packaging presentable, have a memorable logo and iconic colours.

Nurul Izzati’s presentation also touched on having a team, sharing that start-up journeys are often begun alone. She added that one is lucky if they have partners. She affirmed that a team is important because it helps to divide more tasks and be more productive. When choosing members for a team, it is important to have people with the same interest as you. “If you are alone, it’s okay, eventually you will have a team when your business grows.”

She also highlighted some important characteristics for an entrepreneur including willingness, being motivated, determined, skilful, creative and building a network.

“If things fail, there is always a restart button. Go back to step one. What is my product? Why wasn’t it successful? What about the packaging? All these things come again. If you fail again, do it again. What doesn’t kill you definitely makes you stronger. You will become better because you know where your hold is,” she said.