ThailandBusinessPlatform mentors do assist in the management and development of promising Thailand start-ups, by the following
Thailand business start-ups services (Thailand incubator class);1
• Business Support (outsourcing of expert services)
• Start-up Valuation
• Training Services
• Business Plan Competition
• Thai Advisory Board
• Access to Finance
• Market Research
Making a decision to establishing a Thai company is most likely the simple part. However how to discover the ideal business opportunities? That is much easier said than done. Do you require additional local advise of an business consulting firm, is there a demand for extra capital, assets and resources, expertise as well as capabilities?
For sure, start-ups are fragile businesses. Some will not get not even get beyond the idea stage. Some throw in the towel when they find a launching customer for their prototype, and others crash, despite the huge investments or have built up client base of hundreds or more satisfied customers.
There is no such thing as one reason why start-ups go under. Each death is unique and is caused by a combination of factors.
But let us mention the top five of start-ups killers;
• Lack of confidence
– great ideas that never came to anything, due to the potential entrepreneur do not fully dare.
• Lack of knowledge
– if one of the functions like sales, marketing, product design, human resources, finance, accounting, legal department breaks down, a company will fail
• Lost of feeling and commitment
– entrepreneurship is doing what you like and what makes feel you good – if things begin to feel no longer right, then there is a fundamental problem
• Too little stamina
– there is no overnight success you must have sufficient power, capital and time to survive and really put the business on the map
• Timing & market demand
– today there is only room for originals at the right time, followers and copiers are doomed to fail
So what is the solution, also realizing that risks are inherent to start-ups?!
An possibility to minimize risks – could be that we as ThailandBusinessPlatform facilitate by
• Adding an experienced business coach / mentor to advise and supervise the Thailand start-ups (conditions to be determined).
In Thailand incubator class we determine the possible success rate of the Thailand startup and the specific support we can as ThailandBusinessPlatform are able to provide and which may provide and which we consider necessary.
We provide a solution by offering Thailand start-ups our Thailand Incubator Class a mentor whether or not as a member of Thailand start-up Thai Advisory Board.
In next phases we provide the following services;
• Monitoring & Mentoring
We will help you achieve business goals, will avoid common pitfalls and thus will certainly increase the success of business venture.
• Coaching & Training Services
These trainings are developed to assist start-ups in preparing their company strategies, introduction of the specific requirements of Thai business conditions and also to prepare the planning of the start-start-up phases.
The distinction training modules are
– business planning
– marketing and sales
– product and service development
– human resource management
– finance management
• Business Plan Drafting
A realistic business plan is a guide for execution and monitoring results and progress. Furthermore, if funding for working capital and investments is required, all capital providers (banks, venture and/or equity capital) clauses of the business owner a trustworthy company strategy including of a 5 years economic projection of cash flow. Such a company strategy ought to make very clear;
– capital demands as well as monetary forecasts,
– past history and also achievements,
– legal identity,
– corporate governance,
– administration team as well as Thai advisory board of directors,
– services or product with competitive edge,
– market; target or introducing consumers, size, competition, competences,
– sales approach,
– earnings potential; gross margins, growth,
– trademark (protection) as well as technology, innovation
– mitigation of risk,
– critical path as well as milestones,
– needed assets,
– investment stage: seed, early (start-up, first), formative, later (third, expansion, mezzanine),.
– recommended framework of the VC funds; role, payment, exit approach
• Thai Advisory Board
Mentoring is an essential services we consistently provide to Thailand start-ups companies. However these activities lack formal programming and structure and are reliant on interest and succession of each individual entrepreneur. The Thai Advisory Board Service structures upgrades mentoring – advise and supervise – into more regular and more substantial formal proportion to the benefit of the entrepreneur and the start-up businesses. This service is often an imposed requirement of capital providers for an active Thai Advisory Board, which members advise and supervise start-ups and add value based on their own knowledge, experience and network.
• Access to Finance
• Market Research
• Partnerships Development
A business strategy might make also a statement regarding partnerships or business alliances. Founding a partnership appears a sensible option for both a start-ups and established companies entering and expanding Thailand business. Generally partnership do have significant benefits. Nonetheless, there are conditions where this is not the situation. So some rethink needs to be done on (official) partnerships and alliances.
The benefits of a partnership could be;
– accessibility to essential capital resources,
– costs reduction,
– concentrate on main capabilities,
– extra expertise,
– shared responsibility (and risk),
– added value in strategy planning as well as decision making.
As stated, there could be circumstance when a collaboration is less advantageous. Drawback of an business partnership could be;
– inappropriate cultures,
– changing understandings or developments can create an inequality,
– stringent contractual arrangements,
– (financial) liability,
– legal as well as tax obligation issues,
– revenue sharing.
To accomplish optimal effectiveness and also to prevent future issues in the partnership, best is focus on preferred partner skills to compensate own weak points. Likewise the structure of the collaboration must have clear objectives consisting of obligations and responsibilities. Examples in this, regarding an entire or partial co-operation – yet duplications in functions ought to be avoided – are partnerships in;
– business partner investors (shareholder) with or without management role,
– business services (f.e. shared service facilities),
– distribution & logistics,
– innovation & development,
– expertise, information (informal),
– market & sales (agents, representatives),
– products & services (share product lines and services),
– manufacturing capacity (outsource).
Affiliate – become our associated mentor - coach Thailand start-ups (obtain psition in Thai Advisory Board)!
Are you an independent professional expert, a top-level business start-up mentor for Thailand incubator class – we could be interested to collaborate with you. Just contact us by sending an email and convince us of your competences as a Thailand start-ups mentor / member of Thai Advisory Board.