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
I’m surprise to know that up to 80% new businesses fail within the first 3-5 years. Why is opening business that difficult?
Pages
- Nguyen Thi Hong Trang1312534778
Opportunities are always available in the market, the most important thing is about yourself. Are you eager enough for learning new things and dare to win? If you have an idea and are determined to start your own business, go for it. However, be noted that not any good idea can be easily planted in the market and the path to a successful business model from some initial ideas is very long with many difficulties. It requires us to clearly identify the purpose of starting-up, understand the market, well-equipped with management skills, and build a strong team. There are other factors including finance and timing, etc. Lots of people start their own business while having not met the sufficient conditions, thus fail easily.
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Totally, I think there are many reasons : high investment cost, no relationship, week marketing & sales, problem human resources and finally business plan.
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