Answers
FROM IDEAS TO SUCCESSFUL BUSINESS MODEL
Advisor:
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
If you are an investor, by which criteria do you judge a new business idea?
I plan to open my own business in the next three years and need to call for investment, what should I do from choosing the investor, to how to persuade them, etc. Want to learn from your experience, especially when negotiating with your partners. Thanks!
Pages
- Nguyen Thi Hong Trang1312535921
Hi Khe. Interesting question! I believe it should be feasible and meets the market demand. For example, we used to introduce “high-tech” underwear product which ensured the natural look and feel for women who wear it. However, it was the “not-so-nice” design of the product that made it fail to reach the customers. They simply didn’t accept that product.
As well, I definitely would consider carefully the return on the money invested (ROI): how much profit, in how long etc.. And there should be a proper product strategy, pricing strategy, promotion strategy, distribution channels, differentiation of the product, and clearly segmentation.
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There are plenty of new and good business ideas daily, the key to transform from idea to real actions based on the ROI (return of investment) for the investor. I wouldn't invest into the new business ideas if the returns less than bank interests.:)
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hZWZmZlhlnCcmJWExaBkb-GkoGOYcFLJpMWoq4DHo5ifmatXc6xsm2pTcdGrrZenVW7VbW6eUp3Zppeky9TSg5_XnJeYaoOgydel0tHTlqPad9Wk01hr2XKab1qox6eVoKdbcJlzZJ-rpGqccliTo6aqx6WVzZRZn6tuY5yHlpmUhp3ZnmmbW9Pa0MjWxaaeylOhpaBpaohtnWpac-Oy - Super Technologies1670929285
I think the first and most important criterion is how well does the business idea fit into your overall business strategy. If it doesn't, then it doesn't matter who has come up with the idea or how good it is. Some companies use the concept of business model to define their strategy. I would recommend this Cisco Meraki MR Series San Francisco for best reviews. They will look at the market and determine what they need to do in order to get customers, make money and satisfy investors. The company's strategy will be based on this analysis.
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