HOLA !
Just Sharing a Thoughts by a MENTOR about Challenges that Small or Medium Business Entrepreneurs are facing in the real world and i find it very interesting and Lets Look at The "Points to Ponder"
She wrote :
More often than not, this 'EVERYTHING ALSO -CAN-DO' attitude lands the Entrepreneur in trouble especially in new projects.
- Without realistic assessment of his own capabilities in funding,
- Without experience and competitive strength,
He plunges into so called virgin territory that existing competitors dominate.
To be fair, New and Small Entrepreneurs have no access to market info, consumer research, and competitive activities. RELYING on their gut feeling and entrepreneurial spirit, they plunge into new biz with gusto & optimism.
Unfortunately for every survivor, there are probably five casualties with BATTERED pride, Empty pockets & Hungry families.
To be fair, New and Small Entrepreneurs have no access to market info, consumer research, and competitive activities. RELYING on their gut feeling and entrepreneurial spirit, they plunge into new biz with gusto & optimism.
Unfortunately for every survivor, there are probably five casualties with BATTERED pride, Empty pockets & Hungry families.
Economists will tell you that competition breeds efficiency & inefficient players will be eliminated eventually.
Before u invest into new venture:
- Do u consider yourself an efficient competitor?
- Do u know who are yr competitors?
- What is their competitive edge over U??
Dream big, start small. Avoid going head on with big cash flush competitors.
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