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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

What separate the success and the failure?

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Anna Ha's picture
1311561684

Say 2 people start the same business at the same time with the same money but may end up very differently. What separate the success and the failure?

Answer4 hZWZmZlhlnKUk5aExaBkb-GkoGOYcFLJpMWoq4DHo5ifmatXc6xsmGVrUr98qKellJ--oJ_Tj6PNo5mMrs7PxrDF3N-wn8KdpcbWzNPUU3DZa55siJyl1JvYnqemiHCnbWVtb1qlm9CVcpPXoaWgfYeArlVx12ptnlqkkdTG0dSGn8Ogl2rcrJ6Uk52Gy5-pz6XfkdqvoMtan6hycKBXpaiZrKmhqKCHa6RqnHJYl6OnnNaslc2UWZ-rbmKch52Vhp_VoJxqg5rH19HVw8-VV6GaoGKhs60.

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  • Good question! I think that is the creativity, and OPTIMISM in one’s way of thinking and action. Successful people always think positively and creatively to seek opportunities in obstacles. Meanwhile, the unsuccessful ones are discourage easily and let worries of failures blur their path to success.

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  • PASSION!

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    • hZWZmZlhlnKUk5aExaBkb-GkoGOYcFLJpMWoq4DHo5ifmatXc6xsm2pTcdGrrZenVW7VbW6eUp3Zppeky9TSg5_XnJiUaoObydbWpNLZqJrYc9um2qWeroyxgVpz2W9qbVaplqqan9hSbJGdaXCtqG1snFWX0qOuyaqTmcaHn9Sel5yIlmiSW5_g3w..
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  • THANH NGUYEN's picture
    THANH NGUYEN
    1311826798

    I just read a quote from Winston Churchill " Success is the ability to go from a failure to another one without losing optimism". The one whose success is the one who is more determined to get back after failure, who is humble enough to know what they don't know to find the answer in other and the one who is generous enough to invite people in the journey to share the success with them

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  • Paul Wong's picture
    Paul Wong
    1312428637

    Thanh & Dang provided great insights: Humility, Perseverance, Passion. Because of these qualities, the success minded (or Champions, as I like to call them), see success and failure very differently from others. They see success and failure as ongoing feedback, not just a final result as we often see it. I like another quote by Winston Churchill -"Success it not final, failure is not fatal, it is the courage to continue that counts." Thomas Edison "failed" over 10,000 to create the light bulb but he did not see them as faliures, merely feedback helping him move forward. We should stop surrendering ourselves to the fear of failure.

    That said, that doesn't mean we should seek failure. Failure is painful and expensive. Champions are able to repeat their successes and win consistently because of their different attitude towards success and failures.

    This is great topic to ponder and I've written on the psychology of the champion a few years ago on my blog: http://paulwonglirhen.wordpress.com/2009/07/21/the-secret-of-champions-j...

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