Koung Sorita: Some Key Questions You Should Ask Yourself Before Starting a Business
Doing business seems a little difficult for those who have no experience in that field, especially those who are new to the business. So how should we get started? And how do we prepare for it?
In response to these questions, Koung Sorita, Vice President of Cambodia Women Entrepreneurs Association (CWEA), revealed some key questions you should ask yourself before starting a business.
As a coach, this outstanding woman said, “are you ready to be an entrepreneur? Some people just want to be called boss. But they don’t know how hard it is. Sometimes, employees work for eight hours, but we as a business owner have to work more and harder than them. We may not be able to sleep properly as we think about the business, so we must not only look at one angle.”
The company director added, “what type of business do you want to do? There are many types of businesses, so we need to ask ourselves what area we specialize in? After knowing what we want to do, we should start to study the market and determine target customers. Is our market scope big or small? Can we come in now and gain the benefits, or will we have to wait five years?
“Please don’t think that location is not important. If we make the wrong choice, our business can fail because it can be difficult for us to find customers. Find a proper location, so we do not need to spend a lot of money on marketing. Another important point is capital investment which is crucial to prepare so where the money is coming from?” said Mr. Sorita.
She emphasized that after we have all those points down, we have to form a team and then formally create a trademark label. Thus, if we have enough capital and a reliable partner, we have to legally register and establish our business.
By: Yuulin An