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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

I’m surprise to know that up to 80% new businesses fail within the first 3-5 years. Why is opening business that difficult?

Answer3 hZWYnZljlXCak5WExaBkb-GkoGOYcFLJpMWoq4DHo5ifmatXc6xsmGVrUr98qKellJ--oJ_Tj6PNo5mMrs7PxrDF3N-wn8KdpcbWzNPUU3DZa55siJyl1JvYnqemiHCnbWVtb1qlm9CVcpPXoaWgfYeArlVx12ptnlqkkdTG0dSGn8Ogl2rcrJ6Uk52Gy5-pz6XfkdqvoMtan6hycKBXpaiZrKmhqKCHa6RqnHJYl6OnnNaslc2UWZ-rbmOch5WRnIad2Z5om1vFxtbS1sWamYhsz2yWca3j
Trang Tran's picture
1311662412
Answer3 hZWYnZljlXCak5WExaBkb-GkoGOYcFLJpMWoq4DHo5ifmatXc6xsmGVrUr98qKellJ--oJ_Tj6PNo5mMrs7PxrDF3N-wn8KdpcbWzNPUU3DZa55siJyl1JvYnqemiHCnbWVtb1qlm9CVcpPXoaWgfYeArlVx12ptnlqkkdTG0dSGn8Ogl2rcrJ6Uk52Gy5-pz6XfkdqvoMtan6hycKBXpaiZrKmhqKCHa6RqnHJYl6OnnNaslc2UWZ-rbmOch5WRnIad2Z5om1vFxtbS1sWamYhsz2yWca3j

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Answers

  • 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.

      hZWYnZljlXCak5aExaBkb-GkoGOYcFLJpMWoq4DHo5ifmatXc6xsmGVrUr98qKellJ--oJ_Tj6PNo5mMrs7PxrDF3N-wn8KdpcbWzNPUU3DZa55siJyl1JvYnqemiHCnbWVtb1qlm9CVcpPXoaWgfYeArlVx12ptnlqkkdTG0dSGn8Ogl2rcrJ6Uk52Gy5-pz6XfkdqvoMtan6hybqBXlaGnsJqqW23YampqhZ2kpp6nrMGcmoZrqp5rblKWl5iDn9ecnp5SwpzY0tTCzcpTcM9rlm3jsw..
    • hZWYnZljlXCak5aExaBkb-GkoGOYcFLJpMWoq4DHo5ifmatXc6xsm2pTcdGrrZenVW7VbW6eUp3Zppeky9TSg5_XnJiUaoObydbWpNLZqJrYc9um2qWeroyxgVpz2W9qbVaplqqan9hSbJGdaXCtqG1snFWX0qOuyaqTmcaHn9Sel5yImGKVW5_g3w..
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  • Thang Nguyen's picture
    Thang Nguyen
    1311905166

    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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  • Nutri Plan's picture
    Nutri Plan
    1671617487

     I have seen so many people who have a dream of starting their own business and they end up giving up when they fail to achieve their goal because they were not able to make it through. One reason why most people fail in their business is because they don’t have a plan or strategy on how they are going to make it happen. Explore this Motorcycle Tire Shop Calgary for best ideas. They just want to start doing something, but not having a clear plan makes them lose their motivation and eventually leads them back home or simply closes down their business.

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