Entrepreneur’s Journey
Here in 910ths, we’ve summarized the Entrepreneur’s journey in simplified steps with suggested solutions to overcome challenges for a healthy and sustainable business.
Here in 910ths, we’ve summarized the Entrepreneur’s journey in simplified steps with suggested solutions to overcome challenges for a healthy and sustainable business.
Reserving or selecting a suggested trade name through the Ministry of Commerce official website
Cost: no fees applied
https://ecr.mci.gov.sa/Account/Login?url=http://ecr.mci.gov.sa/Home/Index
Issuing an electronic copy of commercial record and certificate of membership in the Chamber of Commerce through the Ministry of Commerce official website including register a business in MLSD and open an account in social insurance organization
Cost: issuing general CR 200 SR per year and 100 SR for subsidiary commercial register per year.
Issuing and renewing subscription of chamber of commerce: it depends on the type of business starting from 300 SR maximum 10000 SR
https://ecr.mci.gov.sa/Account/Login?url=http://ecr.mci.gov.sa/Home/Index
Register your business in general organization for social insurance
Required documents:
Registering the establishment information at the Ministry of Human Resource and Social Development
Send or submit a Social Insurance Subscription application after printing it and approving it from the establishment to the General Organization Social Insurance(GOSI)– E-services
Process steps:
Through the home page of GOSI -Online, select “register in social insurance”, then choose “business owner”
Following, select “register a new establishment”
Enter the office number in the Ministry of Human Resource and Social Development
Enter the establishment number in the Ministry of Human Resource and Social Development
Enter the ID number (if it is a Sole proprietorship owned by a Saudi citizen) or recruitment number (if it is a Sole proprietorship owned by a non – Saudi or a firm)
Select calendar type
Select legal entity
Enter activity type
Enter establishment location
Select the hospital (the hospital which the establishment deals with)
WASEL or P.O box
Enter the information related to the supervisor in the accountID number or Residence number - supervisor name – Email - Mobile number –Agreement Approval Acknowledgment
A message to confirm information and save the application form will appear” please verify the correctness of information before saving and continuing or select “back” to edit information”A window will pop out to confirm your registration process is completed successfullyRegistration application form will be displayed, you can print, sign and send the form to the General Organization Social Insurance office in your region – E-servicesAfter completing the registration process, the account holder will receive an email containing the username and password through mobile.
Renting a location and applying for a permit of location (an initial approval) at the municipality.
Issuing a license from the municipality
Commercial shop license Issuing procedures (Vocational licenses)
The requested documents:
Copy of ID and vocation proof(My data service)
An effective lease contract stating the business to be practiced
Copy of commercial record of trade names and the actions required
Copy of the construction license to assure that the location abides by the formal specifications or a copy of the neighboring shop.
Copy of Construction Completion Certificates
An authorization ratified by the Chamber of Commerce or a legal power of attorney of the applicant from the owner
Site inference drawing
Procedures:
Fill the application and the Vocational License issuing form and set the observer visit date
The technical observer visits the location to define the area, boards and requirements implementation
In case of health activities: the health observer visits the site to assure the implementation of health requirements
Obtain approvals from the related parties
Pay the due fees
Print the vocational license, approve and submit to its owner or authorizer
Issuance of Instant Business License can be completed through The Ministry of Municipal and Rural Affairs Balady Platform
Cost: It depends on the type of business and the store dimensions. You can calculate the cost using the following tool click here
Recruitment of labor force is considered one of the labor market balance mechanisms utilized to provide foreign workers to fill professions, skills and specialties that are not sufficiently available in the Saudi labor market or cannot be occupied with citizens.
Through integrating some recruitment services under the umbrella of the National labor Gateway, establishments can perform the following:
Provide requests of labor force recruitment balances to the Ministry of Human Resource and Social Development through the National labor Gateway and track the status of the submitted requests.
Easy access to a wide range of national competencies registered on the National labor Gateway through job vacancy announcements, search services, and automated matching, before applying for recruitment of such vacancies.
Linking establishments’ requests for recruitment balances with the National labor Gateway for job seekers listed on the platform allows access to the jobs and professions offered by establishments signing in
Further, the establishment’s authorized officer approved by the Ministry of Human Resource and Social Development (the establishment representative) can access recruitment services displayed on the National labor Gateway (Taqat) through the main list of “Employer” page after signing in
Cost of issuing visa: 2000 SR
All applications for having contracts of establishing companies to be submitted electronically, except the joint-stock companies, as well as the electronic record of companies that have been already established to be issued automatically. Meanwhile, there are two types of contracts:
Fast Contract, which does not need study, and it is referred directly for documentation at the notary public.
Detailed Contract, dedicated for companies activities and various purposes that require a license, and in case one of the partners status needs verification, such as non-resident foreigners, or in case the capital is in-kind, or any other cases that need scrutiny, then the contract to be studied before it is referred for documentation at the notary public.
Issuing an electronic copy of commercial record, certificate of membership in the Chamber of Commerce, Opening an establishment file and Registering for social insurance through the Ministry of Commerce and Investment official website unified services
cost: no fees applied
Partners will be allowed to complete the incorporation procedures and extract the Commercial record after submitting a commitment letter from the partners to deposit the cash capital in one of the banks within one month from the issuance of the Commercial record. The failure of the partners to deposit the capital will expose them to the penalties stipulated in the Companies Law
Renting a location and applying for a permit of location (an initial approval) at the municipality.
Issuing a license from the municipality
Commercial shop license Issuing procedures (Vocational licenses)
The requested documents:
Copy of ID and vocation proof(My data service)
An effective lease contract stating the business to be practiced
Copy of commercial record of trade names and the actions required
Copy of the construction license to assure that the location abides by the formal specifications or a copy of the neighboring shop.
Copy of Construction Completion Certificates
An authorization ratified by the Chamber of Commerce or a legal power of attorney of the applicant from the owner
Site inference drawing
Procedures:
Fill the application and the Vocational License issuing form and set the observer visit date
The technical observer visits the location to define the area, boards and requirements implementation
In case of health activities: the health observer visits the site to assure the implementation of health requirements
Obtain approvals from the related parties
Pay the due fees
Print the vocational license, approve and submit to its owner or authorizer
Issuance of Instant Business License can be completed through The Ministry of Municipal and Rural Affairs Balady Platform
Cost: It depends on the type of business and the store dimensions. You can calculate the cost using the following tool click here
Recruitment of labor force is considered one of the labor market balance mechanisms utilized to provide foreign workers to fill professions, skills and specialties that are not sufficiently available in the Saudi labor market or cannot be occupied with citizens.
Through integrating some recruitment services under the umbrella of the National labor Gateway, establishments can perform the following:
Provide requests of labor force recruitment balances to Ministry of Human Resource and Social Development through the National labor Gateway and track the status of the submitted requests.
Easy access to a wide range of national competencies registered on the National labor Gateway through job vacancy announcements, search services, and automated matching, before applying for recruitment of such vacancies.
Linking establishments’ requests for recruitment balances with the National labor Gateway for job seekers listed on the platform allows access to the jobs and professions offered by establishments signing in
Further, the establishment’s authorized officer approved by Ministry of Human Resource and Social Development (the establishment representative) can access recruitment services displayed on the National labor Gateway (Taqat) through the main list of “Employer” page after signing in
Cost of issuing visa: 2000 SR
Commercial Register Renewal Service
This service allows companies of all types except the shareholding companies to renew their commercial register fully electronically through the Ministry of Commerce main website. The company will simply submit a renewal request by their agent to the ministry’s unified portal and provide the requested information, and then the commercial register will be ready to be print.
The service conditions:
The service process steps:
Every successful business starts with an idea. Your ideas can be about:
New technology / service
Existed product/service with unique customer experience
Study the market needs
Identify your value proposition. Your value proposition can be:
Newness, performance, customization, getting the job done, price, design, accessibility, usability, risk reduction
Identify your competitors and look for competitive advantages
Remember: Don’t fall in love with your idea until you are able to sell it.
Business model canvas will help you to capture the big picture of your idea. The business model represents your customer, value proposition, channels, customer relations, revenue stream, key resources, key activity, key partners and cost structure.
Most startups adjust their business model when they test it with customers or clients. It is normal to keep adjusting until you reach a model that you can start with.
Assist in the re-design and innovation of the business model with ( B2B - back to business basic program) run for 1 month of training and consulting with field visits to the location of your business by our team of trainers & consultants certified from the University of Leipzig - Germany
Your customer could be individuals, companies or entities.
You need to know more details about your customers since you are building the product/service for them. Identify the work they need the product/service for; which could be a task they are trying to perform, a problem they are trying to solve or needs they are trying to satisfy.
Address customer pains (pains describe anything that prevents a customer from completing a certain work due to lack of solutions, existing solutions not being effective, high risk, high price, low quality and so on)
Address customer gains (gains describe the outcome and benefits your customers want, which could be a new solution, better customer experience, low risk, better price, better quality and so on.
Build a customer profile. Include any details about your customers (age, gender, status, budget/spending, etc..). Use these information when you adjust your business model to better understand your customers and how to create solutions that fit with their lifestyle.
Download Talking to humans book, it shows effective techniques to understand your customer’s needs
Download the value proposition canvas, it will help you map your value proposition with the customer job, pain, and gain
Prototype is an early sample, model, or release of a product built to test a concept or process or to act as an example to be replicated or learned from.
After building your first draft of business model, now you need to shape your idea with quick, cheap and rough prototype to illustrate how your product/service will look like.
This simple visual representation of your product can be shared with potential customers, immediately generating an unambiguous understanding of your product.
Remember that you are not selling the product, but are merely iterating with customers so that you can understand more thoroughly the strengths and weaknesses of your product specifications . This is very important. There is still a lot left to learn before you are sure you have the right product and know how you will make it, price it, and distribute it.
Remember constantly that the prototyping is an explanatory tool, don’t waste your time on the details of a prototype that is likely to change radically anyway.
You can use the following tools for web and mobile prototyping.
Now, it is time to test your business model with people outside your zone , let people try your product/or discuss the idea with your targeted customer and listen to their feedback.
The goal of this step is to validate all your hypotheses, in addition to taking all valid feedback and adjust your business model accordingly.
Take feedback form your targeted customers. Feedback from customers can come from focus groups, interviews or online evaluation.
Capture every hypothesis, everything you tested, and everything you learned, use value proposition and business model canvas to track your progress. Keeping track of your progress and evidence produced along the way allows you to refer back to it if necessary
Remember that testing is an iterative process, once you get the testing results you will go back to your business model and customers again. The faster you iterate the more you learn and the faster you succeed
At this stage, you need to use your savings, support from friends and family or seed fund (microfinance) in order to build the first version of your product/service.
The key successful funding is to choose the right type of finance at each stage of a company’s early growth. Startups usually begin modestly, with self-funding and help from friends, family and anyone else who is prepared to take the high risk.
Crowdfunding: large number of supporters, each contributing with a small amount of money usually using specialized online platforms.
Business Angels: investors who use personal money to buy shares from the startup, business angles focus in company’s success more than the profit.
Venture Capitals companies that provide capital for new businesses in the hope of reaping profit.
You have few minutes only, don’t waste your time in describing the amount of time you spend on working. Put emphasis on the value
Be specific regarding how much fund you need, how you will spend it and when you will return it
Present your team’s experience and capabilities
This is a very critical step where you will start building your product/service after you validate your hypothesis with the customers.
At this stage you need to identify all the key features and product / service functionality (Product Specification)
Make sure to use suitable software or manual tools that help you track and document your business rules and requirements.
Ask your consultant: A one to one advisory meeting with our team of male and female consultants specializes in the fields of (management/marketing/finance/operation)
Branding is one of the most important components of your startup, branding is your way of communication with your customers.
Get a great logo. Place it everywhere.
Develop a tagline “Slogan”. Write a memorable, meaningful and concise statement that captures the essence of your brand.
Design templates and create brand standards for your marketing materials. Use the same color scheme, logo placement, look and feel throughout. You don’t need to be fancy, just consistent.
Integrate your brand. Branding extends to every aspect of your business, use it everywhere you can on business cards, stationery, letterhead, brochures, ads, your Web site and any other place where you mention your company name. This will help build your image, raise your company’s visibility and, ideally, generate more business.
Be true to your brand. Customers won’t return to you or refer you to someone else if you don’t deliver on your brand promise.
Your logo will appear on multiple devices and across social media, you must design something that transcends paper. It must look great on different backgrounds, work for apps, icons, avatars and print, and it must be flexible in size.
It is recommended to register your startup as a company or establishment in order to legalize your business, please click on the options below to view the process.
Every product/service launch requires planning to make sure messages about a new product/service reach the right types of consumers, are communicated through the most effective channels , and have the relevant content and style.
Marketing planning includes knowing your targeted segments, the goal if the marketing campaign weather it is for brand recognition or increase sales or both.
Use Digital Marketing channels: By using the internet and social media marketers can connect directly and instantly with current and potential customers to build brand recognition, collect data and encourage word-of-mouth recommendations. Marketing channels includes (google ads, content marketing, mobile app, Search engine optimization (SEO) and so on.
Use Content Marketing
Content marketing includes text, images and videos that consumers seek out online, especially on social media site, or in person at events. Potential customers respond to inbound marketing because the business or brand is offering interesting and relevant information, entertainment, or content with emotional value.
Blogs, how-to guides, images, infographics, videos, testimonials/reviews and so on
Offer incentives to users when they use your product/service for the first time.
Turn your customers in to marketers, make your product/service sharable on social media
You can utilize BAHR to find expert freelancers to create content, manage your social media accounts and create a marketing campaigns
This is your big day where you officially launch your product/service onto the market, remember that you will still in the process of improving and enhancing your business model.
Your product/service is ready to fly
Your branding is in place
You have registered your trademark and completed your commercial registration successfully
You have planned for your marketing campaign
Now you need to execute your marketing campaign to find paying customers. Ideally, this is just the first of many launches to come.
If you don’t have a team yet, it is important to build it at this stage; you need resources in marketing, accounting, technical support, operations etc.. Two to three resources are enough and can play multiple roles at this stage.
Follow up with your customers by sending emails or surveys to maintain your relation with them.
When you launch your product / service, it is important to have after sale services. This will increase customer satisfaction, sales and loyalty.
Scaling is the main goal of any startup, and is a very important process that ensures the continuity and growth of businesses. Inelaborate scaling, however, is highly un recommended.
Businesses measure their scaling geographically or in terms of revenue or number of employees. Growing businesses are defined as companies that witness high rates of growth in their most important criterion, which depends on their business model. This can be revenue growth, number of active users or clients, or the amount of funding the company receives.
Scalling imposes several challenges on startups, including sourcing the right funding, dealing with different regulatory environments and sourcing efficient labor forces. Those businesses need large investments, unlike startups which siff ice with minor funding, and investors will want to guarantee that those businesses are operated by a strong staff and system through which they will be able to grow.
Use 910ths services to grow your business*
Expand your business through Access to Bids to bid on opportunities submitted by the government and the private sector.
a package of serveries ( in all of the businesses aspects ) to help SME`s:*The mentorship program *ERP system *Workshops*Events*one-day training
