Locating PeanieSutra

location-location-location

So where should we locate PeanieSutra?

Some commercial guru once said that there are three key success factors to winning in the  consumer business, these are three …. location, location, location.

Having only travel within and never lived in any of the countries we intend to establish a business, we surely have our task cut out for us. Not only doe we need the right street location, we need to first identify the country that is best for our business concept.

In fact, in our case, location can be divided into three categories:

  1. Country
  2. Area / Town
  3. Street / Beach

This means we have to obtain and analyse data and information from a macro through to the micro level. Fortunately, and thank god, the internet goes long way to get this done.

You may be wondering what data and information (facts) we are gathering. And secondly how do we go about analysing it.

Okay, so first let’s explore the facts that we are gathering. At the moment we are focussed on reducing a preselected shortlist of countries down to a prioritised 2 or 3.

To aid this process of identifying a suitable country we gather the following information and facts:

  1. Social: Population, Population growth, tourism and tourism growth
  2. Economic: Gross Domestic product and growth rate, inflation rate
  3. Tax: Business-, personal-, and sales tax
  4. Ownership law: Business and property
  5. Business environment: Ease of doing business
  6. Environmental Risk: Cyclone, Tsunami, Earthquake history and predications
  7. Financial Risk: Money laundering/terrorist financing risks, Corruption risks, Governance related risks, Narcotics Major List, Financial transparency risks
  8. Political Stability
  9. Work Ethic

Once we have a country, we need to zoom into identifying specific areas / towns. For this we gather the following information and facts:

  1. Population density
  2. Tourism numbers: visitors, length of stay, accommodation, existing facilities
  3. Current Infrastructure: roads, buildings, communication, internet
  4. Planned Infrastructure
  5. Accessibility: ports, suppliers, medical and hospitals

In the town/area we need a specific street / beach location. This dependent on:

  1. Access to target market: Walk by traffic
  2. Availability, state and cost for buildings / space

Once we have the facts, or even during the gathering process, we score the locations against each criteria. For example, at the country level.

  1. Each of the 9 criteria are weighted. That is, not all criteria are equal, so a 100 points is distributed across the 9 criteria.
  2. A confidence level is given to the quality of the facts gathered for each criteria. 100 = 100% confident that the data is correct.
  3. Then each country receives a score, relative to the other countries and our own expectations, on a scale of 1-10, where 10 = excellent.
  4. The number for the three points are multiplied (1 x 2 x 3 = index score) and tallied up. The country with the highest score is the preferred one.

The current standing, after 65% of the analysis completed, sees the following Island States in the running:

  1. The Cook Islands
  2. Vanuatu
  3. Fiji
  4. Tonga
  5. French Polynesia

Okay, so that is the science behind identifying the right location. How do we bring in intuition, which we believe has a key role to play in entrepreneurship?

Even when gathering the best available data and information, we still lack the first hand feel for the location. For this we need to go to ground zero … stay tuned … in due course will bring you the result of the analysis followed by live reporting when we visit the selected locations around April / May 2016.

In the next post we will chat about how we are filtering our business concept ideas.

Finding A Chill Haven Spot

Jump for joy

It has been a few interesting months since Eltje and I decided to set sail in search for the “Chill Haven”. Our journey has taken us deep into the heart of … your guessed it …. data … yes, good  old data.

You got to appreciate that we have both just emerged from a long life in the corporate business world and still have this lingering need to find data, to crush it, and let it point us in the “right” direction. At this stage still a bit more left brain 🙂

We have about 12 months to finalise what we want to do and where, and launch the business. Trust me “we have lots to do and too little time” …. ALREADY !!!! But we have already learnt form one of our Island Gurus that “there is plenty of time” …. so no stress :-)))

Allow us to offer you a high level overview of  our activities the next months.

  1. We have been in the process of accumulating data and information to help us better understand a part of the world we have only visited on holidays.
  2. We have developed an analysis approach to use this information to help prioritise a short list of locations.
  3. In parallel we have several business concepts that need prioritising and final one selected.
  4. The above 3 points are based on previous visits to these countries and the data obtained through desk research. Desk research can only tell one so much. The natural next step is then to go to the locations identified with the concepts selected to evaluate the practicalities and then finalise the Real-Win-Worth.
  5. Thereafter the entire preparation for launch commences.

In the next two posts we would like to share a bit more about how we are going about, using available data to (a) identify the right location for, (b) the winning business concept.

BTW – By the end of this year we will both be fully dedicated to our journey, meaning we will have lots more to share with you, more often … so keep posted.

If you think of something we have overlooked, please do not hesitate to tell us 😉

Ciao for now, go easy.

Real? Win? Worth?

Which way to go

Many of you have asked what we busy with at the moment.

As you can image, to launch a new venture in a foreign country requires extra research. Currently we have an idea. This idea is very much driven by passion and a vision … two absolutely key ingredients to the eventual success of anything, new of old.

However, we are two practical individuals with extensive business experience, so we know we need to test the viability of this idea. How do we approach this?

We have what is called a Real-Win-Worth analysis. This means, we gather facts and data to verify the:

  • reality of the concept. That is, is it realistic?
  • our ability to win with this idea. That is, can we pull it through?
  • will it deliver the results we want. That is, is it all worth it?

The primary purpose of this process is to prioritise a location and make a final decision on what and where.

Right now we have commenced the long process of gathering data and facts in order to conduct the analysis. This process has two main phases:

  1. Desk research on macro information to identify potential locations.
  2. Location visit to verify facts and gather additional in-depth information.

You may be asking, “So what are some the evaluation criteria we will be using?” And I would respond, “That is a brilliant question, and here are our current thought. These are the questions we are asking and looking to find answers”.

Real

  • Is there a need, want, or problem to solve ?
  • Is there a set of customers able and willing to buy ?
  • Is the targeted market SIZE attractive (e.g. tourist numbers, etc)?
  • Is the targeted market GROWTH attractive (e.g. economic, visitors etc)?
  • Is the targeted market TREND attractive (e.g. accommodation, entertainment, food and beverage trends)?
  • Are there any regulatory or legal barriers to entering the market (also as a non citizen)?
  • Are there any consumable supply chain issues?
  • Do we obtain the right assets to maintain the business (e.g. people, equipment, space, time)?

Win

  • Political, economic and social stability (including cultural practices)?
  • Can our offer be competitive on value, service, and concept?
  • Can we leverage our intangible assets (e.g. knowledge, relationships, strengths)?
  • Marketing, promotion or communication needs for success?
  • Can our business model win vs. our competition?
  • Do we have access to the  necessary capabilities/ resources to execute (internal: people, capital, equipment, expertise, etc.)?

Worth

  • Will we be able to live the lifestyle we desire!?
  • What will it cost to succeed?
  • Is the profitability adequate?

 

But I would immediately add that this where we can do with your input. Tell us what you think.

What else should we consider, eliminate or change?


 

The Journey Has Begun !

PEANIESUTRA ICON

Hi all and thank you for visiting PeanieSutra.com.

Yes, we doing it!

Eltje and I have embarked on a journey to find peace and tranquillity, not just within but around us too.

We have pulled the plug on the corporate world and living in the overly busy western world. We are heading for the South Pacific to find the perfect place to live the lifestyle we want.

We have had the good fortune of being able to travel much and discover different parts of the world and we have both lost our hearts to the South Pacific. At this time, we have an idea where and how we would like to settle in the South Pacific, but this is still a work in progress.

And it is our working concept that we would like to share with you on this site.

We will share our previous travel experiences and keep you posted on how our plans are taking shape and being transforms into reality.

So, we invite you to follow us on our journey to PeanieSutra.

 

Click here to learn a bit more about us.