9. WHAT DO WE WANT TO
GIVE?
Gain insights and
experience from the PLDT
SME Community
Mentorship and
Stewardship
Exposure and
Recognition
WHY DO START UPS
FAIL?
Disconnected from their
customers
No real differentiation in
the market in terms of
value proposition or
failure to market it
http://www.forbes.com/sites/ericwagner/2013/09/12/five-reasons-8-out-of-10-businesses-fail/
Inability to nail an
effective and profitable
business model
13. Go do’s
Meet and talk to
partners & investors
Work with folks from
other backgrounds
Turn to customers
and to press
Move on and back to
the drawing board
http://www.inc.com/christine-lagorio/chris-poole-on-drawquest-failure.html
With technology as the greatest equalizer, going digital has enabled entrepreneurs to surface and compete in an arena of aggressive market players
-it has radically changed the way we interact, the way we work, the way we live
-everyone has become empowered since they are more informed, they are more exposed, they are more visible
Before, traditional companies grow linearly while digital companies now are progressing like a hockey stick (exponentially) - this has created a tremendous halo effect for all aspiring young people/ entrep
Platform business - Uber, Facebook, Google, Airbnb, Twitter, Youtube
There is a whole new breed/segment of entrep that are digitally inclined/capable
READY TO take over this emerging (business) space
They are paving the waving the way for future, ASPIRING entrepreneurs – starting up their own business
START Ups
-Everyone wants, dreams of having a start up nowadays
-BUT 9/10 START UP FAIL
http://fortune.com/2014/09/25/why-startups-fail-according-to-their-founders/
http://www.forbes.com/sites/neilpatel/2015/01/16/90-of-startups-will-fail-heres-what-you-need-to-know-about-the-10/
-good at creating product but not at marketing it
START Ups
-Everyone wants, dreams of having a start up nowadays
-BUT 9/10 START UP FAIL
http://fortune.com/2014/09/25/why-startups-fail-according-to-their-founders/
http://www.forbes.com/sites/neilpatel/2015/01/16/90-of-startups-will-fail-heres-what-you-need-to-know-about-the-10/
-good at creating product but not at marketing it
But when starting anew, ready to fill a blank canvas – they must learn from the past WHY DID THEY FAIL?
Top 4 reasons why start ups fail:
Disconnect from customers
No unique value prop
Failure to market value prop
Ineffective/ not profitable business model
WHAT DO WE WANT TO DO IN THE PHILIPPINES, WHAT DO WE WANT TO GIVE
It’s not just about the passion – it’s grit
It’s not just about the passion – it’s grit
It’s not just about the passion – it’s grit
WHAT HAPPENS TO THEM AFTER THEY FAIL?
-Failure is hard to accept, but when you look at your business’ future and your future. You want to keep it from bleeding further. You’d want to salvage what you could.
-Usually, they talk to partners/investors to debrief them
-They help their employees move on, find new opportunities
-Turn to existing customers and to press – keep it running so customers can make the most out of it and save/salvage/buy what they can (like stores closing down have sales up to 75-80% off)
-move on, go back to the drawing board and accept that for their next venture, there will be bad times as well as good.
http://www.inc.com/christine-lagorio/chris-poole-on-drawquest-failure.html
But when starting anew, ready to fill a blank canvas – they must learn from the past WHY DID THEY FAIL?
Top 4 reasons why start ups fail:
Disconnect from customers
No unique value prop
Failure to market value prop
Ineffective/ not profitable business model
PLDT SME NATION YPFG been around for around 8 years already…