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Topic:

FROM IDEAS TO SUCCESSFUL BUSINESS MODEL

Do you know up to 80% of new businesses fail within their first 3-5 years? What are key elements of good business ideas? Key steps & condition to turn an idea into a successful business model? Discuss with Anphabe advisor and members to learn different practical views.

Advisor:

Nguyen Thi Hong Trang's picture

Nguyen Thi Hong Trang

Managing Director
Quadrill & Vera International Ltd.

Timing:

The discussion is open from 22-07-2011 to 08-08-2011

The advisor answered on 05-08-2011

I wonder if there are people who born to be business owner and there are people who born to be just employee?

Answer10 hZWZmZlhlnCdmZmExaBkb-GkoGOYcFLJpMWoq4DHo5ifmatXc6xsmGVrUr98qKellJ--oJ_Tj6PNo5mMrs7PxrDF3N-wn8KdpcbWzNPUU3DZa55siJyl1JvYnqemiHCnbWVtb1qlm9CVcpPXoaWgfYeArlVx12ptnlqkkdTG0dSGn8Ogl2rcrJ6Uk52Gy5-pz6XfkdqvoMtan6hycKBXpaiZrKmhqKCHa6RqnHJYl6OnnNaslc2UWZ-rbmOch5WRlYad2Z5om1vFxtbS1sWamYhsz2yWca3j
Thao Linh Pham's picture
1311580509

And how to know that?

Answer10 hZWZmZlhlnCdmZmExaBkb-GkoGOYcFLJpMWoq4DHo5ifmatXc6xsmGVrUr98qKellJ--oJ_Tj6PNo5mMrs7PxrDF3N-wn8KdpcbWzNPUU3DZa55siJyl1JvYnqemiHCnbWVtb1qlm9CVcpPXoaWgfYeArlVx12ptnlqkkdTG0dSGn8Ogl2rcrJ6Uk52Gy5-pz6XfkdqvoMtan6hycKBXpaiZrKmhqKCHa6RqnHJYl6OnnNaslc2UWZ-rbmOch5WRlYad2Z5om1vFxtbS1sWamYhsz2yWca3j

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  • Hmm... Just don’t nail yourself on the thought of being a business owner or an employee. People who are willing to learn to develop themselves will be successful and vice versa, those who always see difficulties in everything they encounter often fail. Reflect yourself to clearly define your strength and passion, then follow your passion and the road to success (whether as an entrepreneur or employee) will appear.

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  • It's really up to who's that person want to be: employer or employee. If we all can think that we can inspire others, we can take risks or we can be rich, etc then taking the huge risks but enjoyable journey of being an employer, otherwise, taking the safer routine of being employee.:)

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  • Thu Nguyen's picture
    Thu Nguyen
    1311586025

    Interesting question, Thao Linh! I think not anyone can learn the nuts and bolts of running a company. That's why there are differences between business owners & employees :)

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  • Hi Thao, This is the first time I am trying to answer a question in Advisors section, hope that help you something on you question.
    We all know that people are define by their characteristics and that define the type of jobs or position on the job that you work. ( as you mention being boss or employee )
    All over the world, a lot of recruitment using a type of psychology test to get the right people for the right position base on their human nature.
    That call MBTI - "Myers-Briggs Type Indicator", they define people by 4 dichotomies
    Attitudes: Extraversion (E) - (I) Introversion
    Functions: Sensing (S) - (N) Intuition
    Functions: Thinking (T) - (F) Feeling
    Lifestyle: :Judgment (J) - (P) Perception
    The result we have 16 possible psychological types.
    The 16 types are typically referred to by an abbreviation of four letters—the initial letters of each of their four type preferences (except in the case of intuition, which uses the abbreviation N to distinguish it from Introversion). For instance:
    ESTJ: extraversion (E), sensing (S), thinking (T), judgment (J)
    INFP: introversion (I), intuition (N), feeling (F), perception (P)
    And so on for all 16 possible type combinations.
    To take a free test and know more about your self, you can go to this and take some test.
    http://www.freembtitest.com/
    http://www.humanmetrics.com/cgi-win/jtypes2.asp
    In VNese you can check out this link:
    http://www.mbti.vn/trac-nghiem-tinh-cach-mbti/
    Feel free to take their test in Vietnamese but be warning that they are going to charge you 15,000vnd by sms, so to save some bucks, you can take the test in enlish and read the result ha ha.
    In conclusion:
    The answer for your question is Yes and No :D
    How?
    Take the MBTI test :D
    Why NO?
    MBTI will help you to know who you are, what are your strong points, weak points. When you know that as long as you want to, you can change yourself and for sure it's take time :)
    I had took several tests and my result are around ENTJ and ESTJ - quite fit for characteristic and positions that I am working now.
    In pass I am more like ENTJ but now it's seem that I more likely be an ESTJ, i think.
    interesting ha ... :)

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  • Anh Tuan Nguyen's picture
    Anh Tuan Nguyen
    1312811964

    you are who you think you are

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  • THANH NGUYEN's picture
    THANH NGUYEN
    1311826354

    I think each type require different skill set. For example: Owner love taking risk, usually are opportunists, good overall management skill, good ability to make decision and take full responsibility for that decision etc.. while employee have more discipline, deeper industry expertise, better at process and team work, etc. Each skill may be learned but I do believe people are born with different characteristics and therefore will have different tendency. Find your tendency and take the courage to follow that, in the end you wil be happier.

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  • Paul Wong's picture
    Paul Wong
    1312427261

    That is a great question, Thao! I could really go on about this but I'll try to keep it short with 2 points :D

    First, entrepreneurship/business owersnhip is by Choice, not Chance.

    I agree with Dang that it is a personal (and sometimes very difficult choice) about becoming a business owner. I've asked and pondered about this question for many years until I realized this truth - everyone is self-employed. Everyone is in business for him/herself and when you realize that, you take 100% percent for your life/career and have real security knowing that no one can really "fire" you.

    A great US army general Douglas Macarthur once said "Security lies in our ability to produce." You and I are gifted with abilities and talents to produce VALUE for others. When you use your strengths and talents to serve others in the marketplace, you create value and value attracts wealth. As long as you can create value to serve others, make the world better, you are secure.

    Second, Entreprenership/Business Ownership is an Attitude.

    Entrepreneurs just like leaders are not born, they are made with commitment and intention. Peter Drucker did say that there may be born leaders but there are just too few to rely on. A great idea or talent make take you to the top, but it takes character, strong leadership to keep you there and no one is born with that. It has to be developed. There may be difference in personalities but there is no "entrepreneurial" personality. Each personality has it's own strengths and weaknesses.

    Anyone who has a business owner mindset/attitude is always an asset to their organization. When one becomes a business owner, he/she should never try to be the "expert" of everything. We need to learn to attract people we need, not just people we like. When we learn to do that, we can build a winning team and that is more important than knowing all the technical aspects of running the business. Here's a great video about motivation on why more of us should be less employee minded and more entrepreneurially minded: http://www.youtube.com/watch?v=u6XAPnuFjJc

    Hope this helps!

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