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Answers

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

80% Failure is quite normal.

Answer2 hZWYnZljlXKVm5SExaBkb-GkoGOYcFLJpMWoq4DHo5ifmatXc6xsmGVrUr98qKellJ--oJ_Tj6PNo5mMrs7PxrDF3N-wn8KdpcbWzNPUU3DZa55siJyl1JvYnqemiHCnbWVtb1qlm9CVcpPXoaWgfYeArlVx12ptnlqkkdTG0dSGn8Ogl2rcrJ6Uk52Gy5-pz6XfkdqvoMtan6hycKBXpaiZrKmhqKCHa6RqnHJYl6OnnNaslc2UWZ-rbmKch5yWhp_VoJxqg5rH19HVw8-VV6GaoGKhs60.
Alexander Kopriwa's picture
1311340031

Rating all the risks (as do the analysts) is probably leaving you with paralysis (by analysis).
Subsequently you end up doing nothing (like some civil servants).
A day only has 24 hours - sometime you can trick a bit and make it 30 (not for long time).
Finding the market can be difficult (some times).
Going national and global is also challenging (how, with whom, what channels), Investors are not easy to find and then they do not understand anything else than cash flow or make life miserable for the CFO and the CEO.
I am advisor in High Technology area and I coach start-up to success - I have seen some client go bankrupt due to cash flow crisis and poor front and back office procedures coupled with unrealistic go to market decisions.
Many valid product do not make it to market glory because current incumbent dinosaurs do block new entrants and stifle innovation. Some investors deliberately under invest to kill off or take control of a "diamond" opportunity.

The current financial crisis (a systemic break down and unlimited greed of the liberalized western financial community) we are in now will continue. One must be extremely careful with the money you spend, how you spend it. One needs near real time analytical information on where do we stand now (this can be automated - ask me how) - the cost of mismanaging information is huge - when well manged the decision making processes are easier however one is still dependent on micro and macro economic realities.

Right product too early (or too late), poor competitive SWAT analysis and you are cooked !

One must be very capable of choosing the right and loyal team - ideally from very different areas and experience - then take step by step forward to test market, get client, monitor competition, add value, improve product, network with many people and organisations.

Feel free to contact me and connect.

Answer2 hZWYnZljlXKVm5SExaBkb-GkoGOYcFLJpMWoq4DHo5ifmatXc6xsmGVrUr98qKellJ--oJ_Tj6PNo5mMrs7PxrDF3N-wn8KdpcbWzNPUU3DZa55siJyl1JvYnqemiHCnbWVtb1qlm9CVcpPXoaWgfYeArlVx12ptnlqkkdTG0dSGn8Ogl2rcrJ6Uk52Gy5-pz6XfkdqvoMtan6hycKBXpaiZrKmhqKCHa6RqnHJYl6OnnNaslc2UWZ-rbmKch5yWhp_VoJxqg5rH19HVw8-VV6GaoGKhs60.

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Answers

  • STRONGLY AGREED!:)

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  • Super Technologies's picture

    I think 80% Failure is quite normal. I've seen a lot of people who have tried their best, but they failed because they didn't know what to do. Go to this Flower bed concrete curbing hanover for more ideas.I think it's important to try your best and even if you don't succeed, that's okay. It's not the end of the world because there are always new things to learn in life, so don't give up.

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