Good interaction is an implication of the leadership style adopted by the owner. Leadership style influences the form of interaction between the owner and the employees. 26% of owners said that good leadership has a positive influence on fast moving business continuity. Good leadership could be formed as democracy in opinion, proper delegation related to the employee skills, personal empathy, and the owner’s attention to the employees needs.
In another side, fast moving goods businesses need to maintain a strong capital turnover. 30% of respondents stated that they chose to run the kind of business because it could gave them profit as quickly as possible through high sales turnover. Moreover, the fast moving goods business is a kind of business that can be run with relatively affordable initial capital, that was become the reason why the SMEs entrepreneurs choose fast moving business as a promising sector for making a quick profit to enlarge business scale in a short time.
It is inevitable that the fast moving goods business is a business with intense competition and a large number of participants. Therefore, other success factors of doing this business, is constantly innovating to attract new customers and retain the current customers. 30% of the owners support the statement. One small decision in innovation will trigger a significant impact for business. Innovation could shape as form changing, naming, new colors in the product, as well as taste. Innovation can be realized by better business instincts for what will be liked or disliked by consumers. Therefore, the enterpreneur need to expand his network and knowledge to sharpen business instincts.
In this descriptive analysis, respondents were asked to choose 5 of 21 factors that are considered critical to their business. Once the reason was selected, then it was sorted by level of importance, followed with scoring and weighting. The factors was weighting where priority 1,2,3,4,5 each of them weighted as 5,4,3,2,1. The data result was describe through this following table. Based on weighting result, it could be defined five major success factors based on respondent’s experiences. Those five factors and its priority for the respondents, stated at this following table. High motivation plays important role in achieving success in fast moving goods business. This finding confirmed by Pena that level of motivation is related to positively for venture performance. Generally, employers have high motivation due to the strong influence of family or environment. Entrepreneurs chose the particular type of business because they were surrounded by relevant suppliers and similar businesses, which mutually influence each other for triggering their motivation to succeed in business. High motivation is needed not only to maintain the business in tight competition, but also wants to expand its business. Over 50% of respondents in this study had at least one branch of business in another place at this time.
The entrepreneurs have high motivation in business because they create supporting business environment, for example by opening networking with other businesses in the same field so indirectly strengthened the entrepreneur business knowledge and experiences. there
Table 3. Success Factors based on Respondent Opinion
|5||Interested in the Business||37||12,2%|
|6||Hiring high integrity employees||31||10,2%|
|9||Involvement in the process||119||39,3%|
|10||Good business instincts||81||26.7%|
|13||Good interaction between the owner and the employees||105||34,7%|
|14||Adopting information technology and communication||8||2,6%|
|17||Extensive experience of business||23||7,6%|
|19||Maintaining ethics in business||10||3,3%|
|20||Good marketing strategy||73||24,1%|