Just like what the title described, we have a lot of discussion in relation to potential business, struggle with income and expenses and the thought of opening and running business to change for the better. Like most that tried, many failed and succumbed to failure to which some have resorted running back to existing 9to5 worklife.

Platform like dropship, food trucks and Ride-sharing businesses have given opportunity to many looking for temporary life support in our expanses while waiting for other opportunity to arise. As much as it is, its no way a long term sustainable platform anymore for those late comers and any new ideas or concepts tend not to last before being obsolete, leaving owners srtruggling to even break-even on the investment.

Although this may not be the case for all, it is to the majority. We hear Lots of vent in frustration and panic when economy aren't lively as how it used to be and discussion over job security, salary and income tend to be quite critical now.

What this can provide is for us to read, learn and understand from others in areas that have failed. Probably gives better insight to those plannning to start on the do and don't. But this can also be an opportunity for hunters looking to invest in areas that may have failed due to insufficient capital; opportunity to re-start and finding candidates and partners with streetwise capability; where in most cases... not listed on resume.

The more you share, the more we understand and the more others know your potential. Not due to the failure you've gone through, but the potential you have that could be channeled in areas that can be a success.

As for me, I'm an investor. I run several businesses and have been looking for opportunity to invest in niche areas if exist. Also, looking for candidates not from what qualification they have... but what they can contribute from the experience they have.

Do share. Thank you.

i see a lot of my friends come 2 me n say tis n tat, without any proper business continuity and contingency plan
didn't join n 1 of them fail in 4 months n dissolved

start small n move up, u need 2 have enough capital 2 sustain ur business for 1 year without profit income
& another 6 months without salaries

those who take share take share those take salary take salary,
if multiple stakeholder ensure decision making power are properly discussed & given & written in black and white

This post has been edited by junsheng: Oct 9 2016, 04:56 AM

way too many youngster over confidence in business.
way too many born rich second gen which know nothing but act like big boss.

Join scammer azizan osman to learn to scam others

some never attend enough motivational seminar
so not skill enough to grow their business to its full potential and drive their downline to success
oh wai-

Motivational seminar is the best. Join one seminar, your entrepreneur skills can improve by 20%. Sales also improve 20%

It's not fail. Just a setback.

TS, why not share your experience first.. What problem u face how u overcome?

Why dont u post this in finance and business subforum?

I started my engineering business more than 10 years ago. Our customers are all kinds of factories and industries all over the country. We serve utilities such as power plants, water treatment plants, car assembly plants, chemical, food, biotech etc. We are very lucky we do not serve or concentrate heavily on oil and gas and as such are largely spared from the mess.

Despite stiff challenges and many ups and downs I would describe myself as modestly successful and stable in my niche engineering field. My company has amazingly low overheads as we threw out all the deadwood since last year. Hiring regular staff (mainly fresh graduates) to maintain company business and to serve customers has been our chief disappointment. All seem promising but none delivered at all, not even remotely close to expectations.

We have fixed this problem for the near future and continue to seek talents who can deliver performance results. We presently have 12 vacancies waiting to be filled. We are still in the black and our company look forward to the future to acquire more business to meet our profit target.

the following are some of the factor of business failure;

1. Lack of market knowledge
2. Limited cashflow
3. Hired wrong employee/high staff turnover
4. Contingency plan
5. Too many shareholders with profit mindsets
6. Unrealistic APEX/OPEX

DSEcomp

ever watch Steve Jobs? jobs refuse to give big share to investor coz they got money but no contribute much instead sabotage. meaning investor invest little the rest is loan from investor.

This post has been edited by iwubpreve: Oct 9 2016, 09:39 AM

registered back in 2014.

usually 2,3 project per year as doing during my spare time.

planning to go 50% more effort in next 2 year.

cant hardly say good. but yeah, will be there sooner or later. just need to minimise risk along the way, dont have enough capital if things go south.

I sold my sister to my neighbor. Then my mother slapped me and made me give back the money.

#failed_entrepreneur

i'm actually interested in knowing more about your company, mind PM?

imo, companies rarely hire the right people, it's whether they can turn them into the right people

what kind of business can do part time?

so cold even though the air cond is off

Business is overrated. If you cant get thru college what makes you think you can succeed in business. Lets not get started on the bill gates example.

I'm in engineering bro, doing part time in site investigation, boreholes and geological stuffs.

interesting, i'm also in engineering but not the same field
but where do you get the necessary equipment and machines? rent?

Usually we have these kepala, he will usually have 5-6 boring rig for freelance use.

I just find project, then have them quoted their price. Then i mark twice or thrice depending on client.

I do quotation, meetings (also sometime upah kawan go meeting) report submition and claim only.