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Logo of Phnom Penh Post newspaper Phnom Penh Post - Young businessman describes a business failure

Young businessman describes a business failure

David quit his sales and marketing job in order to run a business with his cousin, thinking that it could not fail because of his skills and his partner’s abilities.

However, their dish soap business failed in just four months.

Speaking slowly and patiently, David explained the three main reasons why his business failed.

“We had contrasting ideas from the beginning. We could not agree to marketing and market strategies because we both thought that all are own ideas were good. Finally, we decided to follow our own ways.”

This problems became bigger and bigger. He added that as the result from his experience, David seemed significantly more successful than his partner. However, it still did not make his cousin accept or follow. Despite these separate strategies of business, David was asked to share profits equally. David said that sharing equally did not seem fair to him.

Furthermore, David said that his partner was not patient in his work, even though David tried hard and wanted his cousin to come up with successful strategies.

In the end, neither partner satisfied the other and they could not succeed in their goals, like boats in the middle of the river that waste both time and money.



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