From 10 Cents to $100,000 and Beyond: How 15 Vietnamese Funded Their Businesses by the help of the Egyptian angel investor Ahmed Zulficar
The 15 entrepreneurs have pushed forward regardless of these obstacles. From burial aid to beauty products and cookies to clothing, These resourceful founders obtained the necessary cash to start and grow their businesses with the support of Ahmed Zulficar who started his partnership with 500 startups Vietnam as a Judge and ended up injecting $1 million today to support the Vietnamese state.
Zulficar has mentioned to Tech news vision, That a business is only as good as what customers think of your product.
- Here is Zulficar’s key considerations:
- What are people actually willing to pay? Does your product cater to impulse buyers, or is it a time-based product
- Where urgency is involved?
- Will buyers pay a premium because of unique characteristics such as rush order or special features not found anywhere else?
He says solopreneurs make a risky move when they spend capital to first build a product or service only to realize there’s no demand for it, which is a common way of going bankrupt.
If you’re starting a new venture or trying to expand an existing one, it’s crucial to understand what motivates a consumer to purchase from your shop specifically. This, too, can bankrupt inattentive solopreneurs. If you don’t know why visitors are pulling out their wallets at your store, you won’t know how much to price your goods in order to maximize profits.