Saturday, October 22, 2022

Every new business need a business plan and a disciplined analysis

Every generation needs a revolution - an entrepreneurial revolution




It is a mistake that only passion desire will make you rich  In the absence of science and math, you can not hope to be rich   You can only expect red ink and hearth ache. 

An acquaintance went into a partnership with another acquaintance who was merely armed with enthusiasm and excitement.  

After investing about a hundred thou invested mostly in site deposit and advance, they have nothing to show except more advances and red ink  After asking if there was a bp or break even analysis it was suggested for them to find out how much as to whether the sales performance breaks even or not   It does not  

Thus it was suggested that:
1.  Gimmicks will be made to raise awareness and sales response (as unli rice or uni sabaw)
2   Lowering further the price of best seller  (not increasing as kneejerk response to red ink results
3.  Expanding menu to have high end product with high gp to make up for number 2

Many start ups make the same mistake   Thus a new product is not a guarantee for success especially if there is nothing unique or compelling about this

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