Assuming that I am completing my masters degree this summer, my career plan for the next 3-5 years will be as below:
I completed my Bachelors degree in business management and currently pursuing my Masters in Business Administration. I am very much interested in starting my own company since I was young hence I chose business management and administration as my major subjects in college. The company that I would like to start is an online clothing store.
Therefore my career plan would involve me learning about the industry, it’s reach in the market, customer expectations and financial requirements required to start my own business in 3-5 years.
Plan A:
During my college I also worked part time as an intern in a high end men’s clothing brand store. Therefore I have basic knowledge about clothing, stocks and pricing process of men’s wear. Once I complete my college I will start applying for jobs in leading e-commerce companies like Amazon, eBay etc.or any other large retail outlets that has outlets all over the country like Walmart, IKEA etc.
My preferred job position would be Marketing Manager if it’s a retail outlet or Product Manager If it is a e-commerce store.
As a marketing manager I will study the various channels that are present in the industry,middlemen involves, freight options and distribution channels. Also I will be able to study the preferences and choices of customers of various age groups and economic classes.
If I get posted as a Product manager, I will update myself about the technological platforms used to sell products online, management hierarchy,payment methods, and delivery channels, tie ups with freights and courier companies etc.
These experiences that I gain from big corporate companies will mould me greatly to become a successful business person. My target would be to gain these experiences for at least 2 to 2 and a half years. And for the next 1 year or more I will involve myself in field study trying my best to keep working in the corporate too. I will study the market, understand the mindset of the buyers,sellers,distributors as well as customers and form a framework which will be the base for starting my business. I will also be able to save a minimal down payment amount for my business and find a place for operations which can accommodate 10-15 employees.
I must also get links of buyers and create a good relationship with them so that they trust me enough to sell their products in my e-commerce site. Mostly I would prefer buyers from start up companies so that there will be more involvement of both parties and flexibility in fixing prices.
As far as the finances are concerned I will contribute 30% from savings and remaining 70% from bank loans or angel investors who wish to invest in my start up.
By the beginning of the third year I will be starting my company in a small level with 8-10 employees with business carried out within only one state. My main product for sales would be men’s casual wear and I will have a tie up with one freight company.
By the 4th and 5th year my business would be extended to 10-12 states. My buyer/ seller base would increase and customer base also will double. From this 5th year onwards I would target a turnover of 1 million with half of it kept aside for investments. Product base would extend to women’s and kids wear also another corporate office would be set up in another state with the number of employees under me increasing to 25. I will be the Director and CEO of my company. Also I will have a qualified CFO and COO to monitor finance and operations.
My main objectives in my 3-5 year career plan will be
(I) retain employees- as a start up, I have to retain my first employees who will be well accustomed to the challenges and responsibilities in a new company.
(ii) do not go overboard- I must focus on only the main objective and not diversify and think too much on expansion.
(iii) Finances - to keep an eye on the profits and channel them properly in internal development, investment and employee benefits.
(iv) Chose the right channel of sellers and distributors - they are the most important people of the business to ensure quality and efficiency of the company. They must be well treated and payments must be made on time without outstanding.
(v) customer service - quick and timely customer service must be enabled and a separate team for customer service must be implemented.
Contingency PLAN B:
My contingency Plan B would be retaining my job at the corporate for another 1 or 2 years so that I gain more experience and increase my savings. This Plan B will be an option only if banks or investors decline my loan and business plan. In this case I would make improvements to my plan, take additional years time and even think of trying to hire an expert who will help me better my plan.
But whatever contingencies or challenges I face, my ultimate career plan would be to start a successful e-commerce cloth store. If it does not happen in 3-5 years, with more experience gained I will confidently start my own business no matter how long it takes.
Development: Think about, and then briefly describe, your career plans for the next three to five...
Create a 2-year professional career development plan in which you discuss your goals and plans for achieving them. Include your short- and long-term objectives and goals. Evaluate your present position in relation to these goals by listing your current experience and skills. Identify your strengths and weaknesses and those areas that need further development. Prepare a plan of action to achieve your goals.
create a 2-year professional career development plan in which you discuss your goals and plans for achieving them. Include your short- and long-term objectives and goals. Evaluate your present position in relation to these goals by listing your current experience and skills. Identify your strengths and weaknesses and those areas that need further development. Prepare a plan of action to achieve your goals.
Create a 2 year professional career development plan in nursing, discussing your goals and plans on how to achieve them.
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