This study aims to analyze the success factors of fast moving goods business based on success factors of many SMEs in various countries include the real experiences from respondents from this research. Data were obtained from 500 samples; exploratory analysis is used to find the major success factors of fast moving product SMEs in Indonesia.
Data processing was completed by using tabulation, gradually filtering techniques, and scoring techniques. Tabulation technique is used to classify data from questionnaires, to determine the success factors of fast moving business. Furthermore, success factors choosen was filtered by weighting mode techniques using score to describe the main success factors of fast moving goods business.
The following table include fast moving products of SME in Indonesia which were become respondents of this research. In this research, primary data was collected to examine the fast moving goods success factors of SMEs in Indonesia. Through the distribution of questionnaires to 500 respondents of the research, questionnaires were successfully collected as much as 303 questionnaires. Following table describe the success factors choosen by every respondent.
Based on the table above it can be seen the respondents’ opinions about success factors running the fast moving goods business based on the frequency chosen by respondents. 172 respondents or 57% stated the importance of discipline in running the business, they mentioned that the discipline of ensuring customer needs is critical success factors since fast moving goods have a very high purchase frequency. Negligence in this factors will endanger the business because consumers tend to spread negative rumors about the business. The high level of sales in fast moving goods business, made the customer satisfaction become one of the success factors that is also important to maintain business continuity. In addition, hard working will affect a lot to the business success; the enterpreneur must ensure their products match consumer expectations. On the other side, the business turnover force the owners to ensure products supplied and well-managed capital.
The fast moving business owners also consider the involvement in the process is one factor that could determine the success or the failure of the business running. The owner is forced to master the business conditions at any time and conquer the products knowledge. 39% of the enterpreneur found that total involvement is required in the business process to ensure the business is well-managed. This means, managing the fast moving business requires total commitment from the owner, otherwise, the business will face strong difficulties to survive in market. Moreover, to run the fast moving goods business, the entrepreneurs must have a very high motivation to stay committed while facing various challenges. In fact, motivation was possessed naturally by businessman when they decide to run a business, because most of them make the business as the main income. So the business continuity is a priority in their lives. Create a business which can survive in a long term, enterpreneur is required to establish good relations with all his employees. 35% of business owners stated that the importance of creating a good interaction between the owner and his employees. For fast moving goods business owner, employees were valuable assets to maintain products turnover and inventory. Employees were the best informants, where the boss can rely upon to make decisions related to the business. Valuable information from employees could be a method of sales, promotions, inventory, product update that customers will buy, and so many more. Most employees owned by the owners were the employees who work long since the company was founded. Source
Table 2. Fast Moving Product