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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