A new business carries the highest risk of failure because there is less certainty about market demand.
. It takes time and energy to create an image, build patronage, work the bugs out of new systems and procedures, and reach a break-even level of sales.
. It takes time to cultivate contacts with suppliers and implement a marketing strategy.
. There is the risk that new competition may emerge, or that potential customers are more difficult to attract than you anticipated.
. A new business always runs a significant risk that the time lag between start-up and positive cash flow turns out to be too long.
There are a number of places where you can search for new ideas and new applications for existing products and services.
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Inventors’ Association and Patents Office
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State development authorities
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State small business agencies
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Trade associations and industry groups
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Trade shows
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Overseas embassies’ export departments
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Trade journals and other publications
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Overseas visits
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Ideas can also come from spotting changes in markets. This not only involves detecting new trends, but also interpreting the impact of these changes on how Read the rest of this entry »
When I come to bank and waiting in sequence to meet customer service. I see a man still in serious conversation with a marketing officer. I hear even with low volume their conversation that the client needs a help of this bank to do debt consolidation on his loan in other bank. Look like that man right now stays in the big trouble because when I see his face look like has a heavy pressure. After hear all of information from the client then the marketing officer give a clear feedback because Read the rest of this entry »
