You are young, want to start a business and are looking for practical business lessons, let’s consult with Sapo for practical and meaningful business lessons that you must know before the age of 25.
1. Business lessons from the ground and the spoon
Business Lessons The first came from a noodle shop that was very crowded and almost always overloaded. Due to the delicious processing, the number of customers in the alley is always crowded and always in a state of customers waiting for a table to sit. So every time I go there to eat, I keep listening to the owner “telling suffering” about the ground; If you want to put a few more tables in front, you will be fined by the police for encroaching on the roadside. If you want to buy two houses next door, you can’t buy it (and maybe people won’t sell it), if you want to put a table upstairs, you can’t buy it. there’s no place to sleep… Is that a puzzle?
But there is another problem that I think is the cause of the above problem, which is probably that many people are also annoyed with a small matter like this that no one speaks up, or someone speaks up but the mistress refuses to listen. . It’s a spoon and a pair of chopsticks, a smaller spoon than usual, so the amount of food (maybe vermicelli or water) put on its mouth is small, while the plastic chopsticks keeps making the vermicelli slippery, it has to be done many times. bring what needs to be brought to the mouth, it also makes the customer uncomfortable.
But the important thing here I want to talk about is time. For example, the average person starts eating and finishes in 10 minutes, if you create more “favorable” conditions, you can finish earlier, it may take 7 minutes for a bowl of vermicelli. And each person finishes a few minutes earlier, the tables and chairs will be available sooner, the area will be “more”. Business more favorable!
2. Business lessons from ideas or ego?
Once I read a newspaper and saw an article about an international student in Singapore who came home to start a business, although he was only 22 years old, he had very bold and unique ideas that attracted investors. invested 7 billion to open a coffee shop. Reading through the article, I understood that it was a polishing technique to advertise this popular restaurant that was about to open. Well, with my inquisitive nature and learning, after a while, I went there to visit and see where the uniqueness was.
That day was not very crowded, sat watching and felt not good at all, so whispered to my friend: This shop might close early. My friend told me it was normal, so I just pointed out some initial impressions: The floor of the first floor is made of glass, so the girls wearing skirts or dresses can walk or sit, if the customers are on the floor When the ground floor looks up, there will be an “explosion” incident.
The second thing is that it’s too stuffy, the shop itself doesn’t have any vitality to breathe, but it made an airplane model and put tables and chairs in it. The next thing was that the service staff was so bad, they were jealous of each other, so they kept going back and forth but couldn’t do the job… Later that shop sold it to a computer corporation. The business lesson here is very simple, young talent is one thing, but you also have to listen and find out what customers need, not what they want!
Business lessons from ideas or ego
3. Want to do something to understand the nature?
A shop is about to open selling a walkman (music player) in the backpacking area. I want to analyze why this business model will not succeed because of the following reasons:
– Machinery through Vietnam has been taxed, so the price will be higher than that party, or some of you there buy it in installments, just spend a small amount of money and you will have a device and then pay it in installments. times (some countries but not all)
– When traveling to Vietnam, almost everyone brings at least one, so the need to buy is almost nonexistent.
– Going through Vietnam to learn, explore, enjoy travel, not to listen to music
– Backpacks are very “candy” so the shopping problem they calculate very carefully, the unnecessary or expensive items they never buy.
– It is said that traders have friends to sell and have wards, so Vietnamese tourists come to this area mostly to learn and buy tours, but no one has the need to buy machines, if they want to buy they will go to the centers, the The famous street has many shops selling this kind of goods…
Even though at that time they rented 8 million a month (1 year contract, 24 million deposit in advance) they hired two employees, one paid 2 million a month (2007’s price) to calculate rent and rent. staff, taxes, electricity and water and other incidental expenses are 15 million a month. They sold only 6 months… 1 piece, in fact, the owner took all the deposit because of the new one-year contract, but the kind owner felt so sorry, so she returned the 24 million deposit. Consider that after 6 months they lost 90 million.
Business lesson – want to clarify the nature
4. Customer – who are you?
The last story is a new shop that opened about 2 months ago and is still operating now. In my opinion, that shop is good enough to survive for about a year and then go bankrupt, the owner is a famous supermodel in the fashion industry.
– That one-way road is not very convenient.
– For customers with a lot of money, they can travel around Asian countries and buy there because it is cheaper, for example, if it is more expensive, it is also a unique product.
– Middle-class or low-income customers do not visit there to buy because the price is much more expensive than other shops.
– Relying on popularity is also not right, because the owner has never stood there selling goods that customers will meet there.
– Based on the relationship of friends is also uncertain, in highly competitive industries, it is not certain whether the “implicit” relationship is good or bad that people come to buy to support….
The last thing I want to say is: When doing business, you must understand very well what you are doing, who are the customers and where do they come from? The business lessons are simple, practical, but perhaps because of their simplicity, people easily overlook them.