Latest news with #BlueOceanStrategy
The Sun
2 days ago
- Business
- The Sun
Sabah UDA Carnival boosts MSME growth with BizFrancais Pernas
PENAMPANG: The Sabah UDA Carnival with BizFrancais Pernas has become a key platform for strengthening the entrepreneurship ecosystem for MSMEs in the state. Held at Buhavan Square, the three-day event concludes tomorrow with a focus on expanding market opportunities for local businesses. A total of 70 entrepreneurs from BizFrancais Pernas and UDA showcased diverse products and services, targeting RM4.25 million in sales. Minister of Entrepreneur Development and Cooperatives Datuk Ewon Benedick highlighted the carnival's role in fostering conducive market access for entrepreneurs. He emphasised the ministry's commitment to developing strategic networks and branding to nurture competitive and sustainable businesses. The collaboration between UDA and Pernas demonstrates strong synergy among KUSKOP agencies in empowering grassroots entrepreneurs. 'This carnival provides direct services and support to both current and aspiring entrepreneurs,' Ewon said during the opening ceremony. Under the 13th Malaysia Plan, KUSKOP will prioritise franchise, MSME, cooperative, and social enterprise development in Sabah. UDA Holdings Bhd President and CEO Johari Shukri Jamil noted the event aligns with the Blue Ocean Strategy, maximising resources for entrepreneurial impact. Since 2022, the UDA Carnival has served as a key outreach platform for local entrepreneurs. The partnership with Pernas through BizFrancais reflects a shared commitment to expanding franchise opportunities nationwide. Johari reaffirmed UDA's support for KUSKOP's mission to strengthen Malaysia's entrepreneurial ecosystem. - Bernama
Yahoo
09-06-2025
- Business
- Yahoo
A financially independent real estate investor shares the book that changed his strategy and helped him build a profitable portfolio of rentals
Before buying his first property, Manny Reyna read as many books about real estate as he had time. The knowledge he gained gave him the confidence to buy when interest rates hit record lows in 2021. His favorite business book, 'Blue Ocean Strategy, changed the way he thought about his portfolio. When Manny Reyna struggled to find a tenant for one of his investment properties, he turned to a principle he learned from "Blue Ocean Strategy." The book, co-authored by Chan Kim and Renée Mauborgne, breaks down the market universe into two main categories: "red oceans" — the industries in existence today, or the known market space — and "blue oceans," the industries not in existence, or the unknown market space. While "red ocean strategy" is all about competing in an existing market space, "blue ocean strategy" is about creating an uncontested market space and capturing new demand. "One of my homes was not picking up on Airbnb," Reyna, who rents two single-family homes and two tiny homes in San Antonio, told Business Insider. "So, I shifted my strategy to something called mid-term rentals. I took the playbook right out of 'Blue Ocean Strategy': Everyone's looking at this shiny object — short-term rentals — but what about mid-term rentals?" He listed the property on Furnished Finder, which specializes in 30-day plus stays and is geared toward traveling professionals. It's less mainstream than sites like Airbnb and VRBO, and Reyna had to spend time familiarizing himself with a new platform. "Furnished Finder charges you to post your home, they bring in tenant leads, and then you have to engage them, so that's a whole other thing," he said. "I had to make templates and figure out the whole process, everything from screening tenants through a third-party app called KeyCheck to taking deposits and writing leases." The upfront work paid off, he said: "When I went to mid-term rentals, I was able to pick up a lot more bookings. For whatever reason, in the area where the home is in San Antonio, there are a lot of medical professionals that go there, a lot of construction professionals, and a lot of business professionals." Reyna spent years working in the US Army before purchasing his first property. "I was a medic, so we wouldn't really have too much to do unless somebody got hurt. With that downtime, I read so many books about business and real estate and finance," he said. "We didn't have a way to get internet a lot of the time, so I just read anything I could get my hands on." When he was wrapping up his service in 2021, he had about $12,000 in savings, a family to support, and a career to figure out. "I was super concerned about a lot of things," he said. But, as interest rates started to drop to historic lows in 2021, Reyna recognized an opportunity to buy property and start building equity. The knowledge he'd acquired reading "Blue Ocean Strategy" and other books, including "Rich Dad Poor Dad" and "Profit First," helped him turn the idea of buying a home into reality relatively quickly. "I won't say that I was an expert, but I had some confidence," he said. The mindset he developed in the Army also helped him act quickly. "They teach you to make a decision and act on it. I was just thinking, 'This is a now-or-never moment. The interest rates are super low. I know they're going to go back up soon.'" He found a single-family home, financed it with a 0% down VA loan, and locked in a 3% interest rate. He and his family moved in in the spring of 2021. That property is now one of four rentals that he owns. Self-education is one lever you can pull if you're cash-strapped or starting from scratch. "I really just read anything I could get my hands on because I felt like I was so behind and needed to figure out a way to make money for my family," said Reyna. "So that was the fastest thing I could do — just read, read, read, read, read, and try to get caught up on everything." Read the original article on Business Insider Sign in to access your portfolio
Business Insider
09-06-2025
- Business
- Business Insider
A financially independent real estate investor shares the book that changed his strategy and helped him build a profitable portfolio of rentals
When Manny Reyna struggled to find a tenant for one of his investment properties, he turned to a principle he learned from " Blue Ocean Strategy." The book, co-authored by Chan Kim and Renée Mauborgne, breaks down the market universe into two main categories: "red oceans" — the industries in existence today, or the known market space — and "blue oceans," the industries not in existence, or the unknown market space. While "red ocean strategy" is all about competing in an existing market space, "blue ocean strategy" is about creating an uncontested market space and capturing new demand. "One of my homes was not picking up on Airbnb," Reyna, who rents two single-family homes and two tiny homes in San Antonio, told Business Insider. "So, I shifted my strategy to something called mid-term rentals. I took the playbook right out of 'Blue Ocean Strategy': Everyone's looking at this shiny object — short-term rentals — but what about mid-term rentals?" He listed the property on Furnished Finder, which specializes in 30-day plus stays and is geared toward traveling professionals. It's less mainstream than sites like Airbnb and VRBO, and Reyna had to spend time familiarizing himself with a new platform. "Furnished Finder charges you to post your home, they bring in tenant leads, and then you have to engage them, so that's a whole other thing," he said. "I had to make templates and figure out the whole process, everything from screening tenants through a third-party app called KeyCheck to taking deposits and writing leases." The upfront work paid off, he said: "When I went to mid-term rentals, I was able to pick up a lot more bookings. For whatever reason, in the area where the home is in San Antonio, there are a lot of medical professionals that go there, a lot of construction professionals, and a lot of business professionals." Using books to get his foot in the real estate door Reyna spent years working in the US Army before purchasing his first property. "I was a medic, so we wouldn't really have too much to do unless somebody got hurt. With that downtime, I read so many books about business and real estate and finance," he said. "We didn't have a way to get internet a lot of the time, so I just read anything I could get my hands on." When he was wrapping up his service in 2021, he had about $12,000 in savings, a family to support, and a career to figure out. "I was super concerned about a lot of things," he said. But, as interest rates started to drop to historic lows in 2021, Reyna recognized an opportunity to buy property and start building equity. The knowledge he'd acquired reading "Blue Ocean Strategy" and other books, including "Rich Dad Poor Dad" and "Profit First," helped him turn the idea of buying a home into reality relatively quickly. "I won't say that I was an expert, but I had some confidence," he said. The mindset he developed in the Army also helped him act quickly. "They teach you to make a decision and act on it. I was just thinking, 'This is a now-or-never moment. The interest rates are super low. I know they're going to go back up soon.'" He found a single-family home, financed it with a 0% down VA loan, and locked in a 3% interest rate. He and his family moved in in the spring of 2021. That property is now one of four rentals that he owns. Self-education is one lever you can pull if you're cash-strapped or starting from scratch. "I really just read anything I could get my hands on because I felt like I was so behind and needed to figure out a way to make money for my family," said Reyna. "So that was the fastest thing I could do — just read, read, read, read, read, and try to get caught up on everything."
Mint
23-05-2025
- Business
- Mint
Twenty years of SpiceJet: The no-frills airline's journey through many highs and lows
SpiceJet marks its 20th anniversary on May 24, 2025. From its modest beginnings in 2005 to becoming a household name in Indian aviation, the airline's journey has been nothing short of turbulent — filled with rapid growth, intense competition, financial turbulence, and resilience. However, the fact that SpiceJet started earlier than IndiGo, and IndiGo is now over 12 times its size, speaks a lot about the missed opportunities of SpiceJet. On the other hand, SpiceJet is one of the two carriers (the other being IndiGo) which has managed to survive as many years with the likes of Air Deccan, Sahara, Jet Airways, Kingfisher Airlines and Go Air not able to sustain the Indian aviation landscape, apart from many other smaller players. SpiceJet took to the skies on May 23, 2005, with its first flight from Delhi to Ahmedabad. The airline was quick to expand and look for routes, both non-stop and one-stop, which were immensely popular. Its catchy tagline, ' set the tone for a bold and energetic brand in the making. It held some prime spots at major airports and offered competitive fares. The airline grew rapidly in the late 2000s, expanding its fleet and adding new routes across India. However, like many carriers in the fiercely competitive Indian aviation sector, SpiceJet faced its share of headwinds — rising fuel costs, regulatory hurdles, and price wars took a toll. In 2010, it changed hands from Ajay Singh to Kalanidhi Maran of the Sun Group. The expansion saw the airline focus on Chennai, move from a single fleet type to dual class, with the Bombardier Q400 turboprops being inducted. The airline was at the cusp of a major expansion, planning expansion with Blue Ocean Strategy. However, a debt-free company in 2011, the airline piled up debt quickly due to rising oil prices and market headwinds, coming to a near standstill in December 2014, grounding its fleet and alarming investors and passengers alike. Ajay Singh returned to the helm as white knight, orchestrating a dramatic turnaround. Under his leadership, the airline renegotiated leases, cut costs, and refocused on profitable routes. SpiceJet began to stabilise and even diversify, venturing into cargo (SpiceXpress) and regional connectivity under the UDAN scheme, which was announced in 2016. The tailwinds looked favourable once more with the airline placing an order for the MAX aircraft with Boeing and being the second in India to take delivery. This would have set the airline on a different course with fleet renewal firmly in place and an MoU with none other than Emirates as a codeshare partner. Its regional arm helped connect underserved Tier-II and Tier-III cities, in alignment with the government's vision for accessible air travel. The fall of Jet Airways was a high point of sorts for the airline, which saw an immediate opportunity to scale back to 2014 levels and go beyond in due course of time. With Jet Airways planes grounded in India, the lessors found a white knight again in the form of SpiceJet, which took 30 of former Jet Airways planes, along with pilots. This was followed by Vistara adding these former Jet Airways planes and crew. It became a win-win situation for everyone, the lessors, the staff and the airports. The government linked slots of Jet Airways to additional capacity, and by the end of 2019, within months of the fall of Jet Airways, the Indian skies were buzzing again with planes still showing remnants of Jet Airways livery and crisscrossing the country. This also coincided with the grounding of MAX after two deadly crashes. What seemed like a masterstroke became the backbreaker for SpiceJet. It clearly was trying to gulp more than it can chew but was the opportunity which was presented. However, less than a year after the fall of Jet Airways and SpiceJet taking as much liability in the form of new planes and additional staff, the pandemic hit which grounded aviation in India and across the world. The airline hardly managed to come out of this hit, with the financials being even worse than what 2014 had in store for the airline. The airline was hit by court cases along with liquidation petitions filed by lessors and others. The airline has recovered partially by monetising SpiceXpress, the cargo arm, and attracting investments worth INR 3,000 crore last year from multiple investors. However, its market share has remained below 5 per cent in a market which has more than doubled since 2014, when it hit its first major setback. New entrants like Akasa Air have managed to have a larger presence at key airports. The newly raised funding has helped the airline retire some debt, but it is still struggling to get the capacity in the air as it had once thought and committed it would. Sustenance has been the first goal for the airline, and it would hope that the base remains strong to build on it without any external shocks this time around.
