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
