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.

MOST VIEWED

  • New US bill ‘is a violation of Cambodian independence’

    After a US congressmen introduced bipartisan legislation that will enact sanctions on Cambodian officials responsible for “undermining democracy” in the Kingdom, government officials and the ruling Cambodian People’s Party on Sunday said they regarded the potential action as the “violation of independence and sovereignty

  • Long way to go before Cambodia gets a ‘smart city’

    Phnom Penh, Siem Reap and Battambang will struggle to attain smart city status without adopting far reaching master plans, according to officials tasked with implementing the program. The brainchild of the Association of Southeast Asian Nations (Asean), the smart city program seeks to link up

  • Japan bank buys major stake in ANZ Royal Bank

    Japan's largest bank acquired more than half of ANZ’s shares in Cambodia on Thursday, according to a statement from Kith Meng’s Royal Group. Japan's JTrust Bank, announced that they had acquired a 55% of stake in ANZ Royal Bank. According to a Royal Group

  • Ministry’s plan for net sparks fears

    The government has ordered all domestic and international internet traffic in the Kingdom to pass through a Data Management Centre (DMC) that has been newly created by the state-owned Telecom Cambodia, in a move some have claimed is an attempt to censor government critics. Spokesman