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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

Keep the business bigger or remain the same

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Thuc Anh Nguyen's picture
1311827201

I own a small company that currently run Ok. To push it to the next level, it will need big organization changes and investment. I’m currently torn between 2 ideas of keeping the business at this current scale (I can live well in this current situation) or to really change, invite more investor, make the team bigger and push out for new business.Have you ever experience this situation before, any advice?

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Answers

  • Hi Thuc Anh. I think it depends on what you really want. If you feel happy with the current scale, try to do better to maintain the business and to cope with changes in the market effectively. Don’t take the plunge if not knowing what you’re doing for, do not see the meaning in life. However, there are people who have strong desire of devotion and they never feel enough, always want to leverage their business to higher levels. If they have the right capacity and enough resources, why not?

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  • Alexander Kopriwa's picture

    If you do not grow the business (and the market is growing) you are loosing ground.

    If the market is slowing down (due to recession) you must try maintain positions to loose as little as possible while making sure your credit exposure risk is minimal and cash flow is high.

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  • Super Technologies's picture

    I think that if you keep the business bigger, you will be able to make a lot more money. You can hire more employees which means that you can get an even bigger market share than before. As a result, it will also help you to grow faster and there are many other benefits like that. Try this professional carpet cleaners suwanee to get your carpet clean professionally. However, if you remain the same size, then it will be hard for you to compete with other companies that have grown bigger than yours. In addition, if someone else comes up with a better product or service than yours, then it may be more difficult for you to keep up with them because they have more resources available than yours do.

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