Failed business model...

[Stereobox]

if one has a business model which has been proven time and time again to be full of risks, prone to failure and highly susceptible to loss...what does one do in order to effect a noticeable improvement?

a lot of businesses fail due to unforseen or unpredictable external forces. but if one particular factor has been proven to be the main cause of predictable failure, is it not advisable to rectify and protect the business against it?

 

[hazekang]

:bigeyes: :think: :dunno:

 

[Caspere]

if one has a business model which has been proven time and time again to be full of risks, prone to failure and highly susceptible to loss...what does one do in order to effect a noticeable improvement?

a lot of businesses fail due to unforseen or unpredictable external forces. but if one particular factor has been proven to be the main cause of predictable failure, is it not advisable to rectify and protect the business against it?

In my experience, even good ideas fail because for poor execution.

A lot of times, things like inconsistency with standards, corner-cutting, doing the easy small matters and failure to manage the big difficult issues instead, etc..

It's all in the execution after the good ideas.

How to reduce the instances of failures? Good business plan, and .... experience.

 

[Stereobox]

:bigeyes: :think: :dunno:

will it suffice to say - will you be able to differentiate between poor business management, or an outright scam?

 

[Paul_Yeo]

will it suffice to say - will you be able to differentiate between poor business management, or an outright scam?

scam usu. promises unbelievable good returns

 

[yanyewkay]

if you can see thru a scam.. then it isn't a scam anymore.. it's a joke. :bsmilie:

Well.. to TS, a 'winning' formula that succeeds may not work all the time. One man's meat is another man's poison.

I guess you've got to be a guru to get it right the first time. Else you just got to keep trying and trying.

 

[ortega]

a good business plan takes into account the risks involved and have a counter measure for it.

 

[yanyewkay]

a good business plan takes into account the risks involved and have a counter measure for it.

even so, if a person is 'suay' all plans will fail. In short, there is no 100% sure win formula but through experience and good planning, the chances of survival is higher.

 

[ortega]

even so, if a person is 'suay' all plans will fail. In short, there is no 100% sure win formula but through experience and good planning, the chances of survival is higher.

risks include failing and being able to fund the business for 6mths to a year b4 calling it quits

 

[jopel]

risks include failing and being able to fund the business for 6mths to a year b4 calling it quits

at least 2 years

 

[ortega]

at least 2 years

normally the measure is that if you can survive for at least 3 years then OK already

 

[yanyewkay]

normally the measure is that if you can survive for at least 3 years then OK already

towkay in the making?

 

[ortega]

towkay in the making?

been there, done that

over 10 years

 

[pai]

will it suffice to say - will you be able to differentiate between poor business management, or an outright scam?

you sound like you have a certain business in mind

 

[BBTM]

Talk abt business. Few years back, I got a lot of ideas but too bad, no one support me. In the end, I saw some ideas were using now. See, sgporean just not that daring at all. :thumbsd:

 

[wind30]

talking about business model,

my wife just told me that her friend went to this SUPER expensive investment strategy course. Reason was that they are so confident that their investment strategy works that they allow you have a "dummy" test on the stock market one month after the course. If you lose money, they will REFUND the whole course fee back to you :bigeyes:

Like that also can. I think I should start an investment course myself.

 

[eikin]

Talk abt business. Few years back, I got a lot of ideas but too bad, no one support me. In the end, I saw some ideas were using now. See, sgporean just not that daring at all. :thumbsd:

so you are putting the blame on others?

1. are the ideas that are being used now exactly the same as what you had in mind?
2. were you daring enough to go all out to look for partners who believe in your ideas then?
3. are you 100% confident that what works now also could have worked back then?

if your answers are 'YES' to all the questions, why not share with us your brilliant ideas that are being used now? then we can sympathise with you.

 

[contaxable]

talking about business model,

my wife just told me that her friend went to this SUPER expensive investment strategy course. Reason was that they are so confident that their investment strategy works that they allow you have a "dummy" test on the stock market one month after the course. If you lose money, they will REFUND the whole course fee back to you :bigeyes:

Like that also can. I think I should start an investment course myself.

Dear wind30

Be weary of investment opportunities that seemed too good to be true. There are several variations of MLM/time shares out there right now, and the trend is using credit card account to invest into an overseas account with high dividend yields monthly. Some returns can get as high as 20% with no admin charge. Many such investors are seeing cash back, but when the bubble burst, that chap will be laughing his way to the bank.

The money back guarantee would not mean much. Check their T&C to find out if there are admin charges, local/overseas tariffs, withdrawal fees, misc charges, etc. Those fees will rip off from the principal sum.

The best investment is to invest on your own family and save up for rainy days.

Just a humble opinion here.

 

[contaxable]

if one has a business model which has been proven time and time again to be full of risks, prone to failure and highly susceptible to loss...what does one do in order to effect a noticeable improvement?

a lot of businesses fail due to unforseen or unpredictable external forces. but if one particular factor has been proven to be the main cause of predictable failure, is it not advisable to rectify and protect the business against it?

Hi Stereobox,

Your question is quite vague, without hinting the product/services the firm in question operates to sell. If there are unforseen threats, buffer them with higher prices and a leaner/flatter reporting structure. If your gut feel suggest that a certain element was the root cause of future problems, then attack that spposed problem area. If it's an sme, it would be a lot easier to effect changes as the boss is in control.

Effecting changes will destroy people's comfort zone(s). People might hate you for rectifying the working model.