Reasons Start-ups Succeed

There’s no doubt about it: startups are hard and they’re risky. In fact, on average, 9 out of 10 startups will go out of business. Although founding a startup is inherently risky, there are a few things that can increase your chances of success. American investor Bill Gross conducted a famous speech at Ted Talk, where he talked about what he learned from the data he gathered from hundreds of companies

Person Holding Pen Pointing at Graph

The Three Most Important Factors


Above all else, the most important thing is timing! It actually accounts for 42% of the differences between success and failure for startups. Success is dependent on whether people need or want your product. If you enter the market when there won’t be demand, you won’t make any sales. So before you anything else, be honest with yourself and truly assess whether the world is ready for or in need of your product.

After timing, the team and idea behind a startup are the second and third most impactful factors (accounting for 32% and 28% of differences between success and failure, respectively).

Clear Glass With Red Sand Grainer

The Team

Your team should be a communicative and complementary group with the necessary knowledge, skills, determination, passion, and willingness to work. The leader should have the social ability to network, build partnerships, seek out investors and other funding sources, talk to the press, and recruit and inspire workers. As startups don’t typically have large teams, the employees you choose are important.

People Looking at Laptop Computer

The Idea

The product itself must also be based on a strong idea and executed well. While the product doesn’t have to be entirely unique or the first of its kind, it does need to differentiate itself from other products in some aspect or another and it shouldn’t enter the market after it is already saturated with similar products. Ideally, you want your product to be so appealing and interesting that people will want to talk about it and, in a way, advertise by word of mouth for you.

Clear Light Bulb Placed on Chalkboard

Other Important Factors


If you are going into a startup, you have to be passionate about it and love the work. After all, you are embarking on an uncertain journey. If you aren’t passionate about it, how can you put in the necessary time and effort to make it all work. You must be determined and refuse to give up when things get difficult or you face challenges. At the same time, you must also believe in your startup. If you don’t believe in it yourself, you can’t expect others to do so. Additionally, to succeed, you need to make profit which won’t happen if you don’t take risks. And you won’t take risks if you don’t believe in yourself and your startup.

Asian freelancer working at home

A Well-Defined Vision

With startups, you need a well-defined vision; it’s best to have an idea of where your business is headed from the get-go. One of the biggest things is to have a sensible business model and financial plan. Not running out of money is crucial to your startup actually functioning so have a plan that includes a budget and how to raise funds. Second, as a startup you will almost certainly have limited staff and resources. This means you’ll need to figure out how to be productive and know what to prioritise.

Black Binocular on Round Device


Successful entrepreneurs know when to shift their plans a little. It’s important to observe what is working for both yourself and your competitors, to listen to feedback, and to learn from your mistakes. When things aren’t going quite as well as you’d like or you see opportunity for improvement, adapt and make the changes you need to make!

Woman Sitting in Front of Macbook


If possible, having a good mentor to guide you can make a world of difference. Mentors have gone through the process themselves and often experienced similar, if not the same, challenges. This can make their advice an invaluable resource when you find yourself in a tough spot or are unsure of what to do.

Photo of Men Having Conversation

美國投資家Bill Gross在2015年進行了一場Ted 演講,講述他在多年投資初創經驗的數據中得出的結論。究竟決定初創是否成功的因素為何?讓GoBuddy和你看看吧!

人脈支援 mentorship


適應力 Adaptability


意念本身 The idea


團隊能力 The Team


時機 Timing

最後,Bill Gross的發現竟是大家都不太討論的因素—-時機!的確,Microsoft誕生在電腦科技剛開始起步的年代,Uber誕生在APP潮開始萌芽之時。時機或是不可或缺的關鍵!是時代造就成功,還是這些成功帶起熱潮呢?


How to stand out in E-commerce

With many businesses providing an online shopping platform for their customers, staying visible in the e-commerce era can become challenging for a lot of companies. Customers are overwhelmed with millions of options and often check out various online stores to receive the best deals.

1) Spend Money to Make Money

Very cliche but very true. When businesses are at their initial stage, they get so engrossed with the idea of success and making profit that they forget that they will continuously need to invest a lot at first to be able to yield rewards in the long term. If you have an online store, know that it’s important to spend on advertising.

2) Become Socially Active

If you are an E-Commerce business, you NEED to be active on all social media platforms- Instagram, Facebook, Twitter and LinkedIn. Having social media presence really does help with raising awareness about your brands, connecting with potential customers and it is also a great way to answer your customer’s queries! The best thing about using social media to promote yourself is that it is FREE, unless you use different tools like FB/IG ads or sponsoring yourself through them.

3) Showcase your USP (Unique Selling Point) at every chance you get

As an Entrepreneur, it is crucial you know what your USP is and that you’re able to ensure that other people know about it too. Your USP is what makes customers choose you over your competitors. It is something which reflects your brand and sends out a message about why you started this business in the first place. Your USP should focus on your target customers because if it doesn’t, your USP will have no meaning. What is the point of having a unique selling point if it isn’t directed to anyone, right?










5 books you must read if you are an Entrepreneur

No matter how successful you are, knowledge and powerful advise is one thing which is never-ending. Below are some of the best books with god-tier advise that can help entrepreneurs and to-be entrepreneurs.

1) How to Win Friends and Influence People by Dale Carnegie

One of the best books to help improve people skills and a step-by-step guide to make lifelong connections.

2) The 7 Habits of Highly Effective People by Stephen Covey

This book written especially for Entrepreneurs and how they can achieve success by imbibing certain qualities and further help build their business.

3) The Art of the Start by Guy Kawasaki

If you are looking for some inspiration or just anything to take your first step as an Entrepreneur, this is your go-to book.

4) Getting Things Done by David Allen

Looking for ways to get rid of that procrastination? and stress? This book will help you get organised and clear your mind.

5) Think and Grow Rich by Napolean Hill

One of the most popular and best books out there used by millions of people and business owners. It will help you get perspective and a positive mindset and just the perfect advise that you are looking for.


How to digitalise your business

The idea of starting your own business can be very exciting. As an entrepreneur, you are your own boss, work more flexible hours, and have greater ability to dictate the direction of your future. Moreover, you can follow your passions and feel a sense of pride in your business’s growth and accomplishments. And for many people, online business poses a very attractive alternative to traditional offline business. Without costs like rent or utilities, online businesses are often much cheaper, and they can be open 24/7 for greater customer flow. Over the past few years, online commerce has become a very profitable market as well as more and more people turn to the internet to shop for both products and services. Moreover, there are many avenues you can take when deciding what kind of online business you want to start so you’ll be sure to find one that suits your interest and skills.


One option you can choose to take is the entertainment route. With the global connections the internet has established, it’s never been easier to reach such a large audience.

Blogs are one such option to consider. You may think they seem out-of-date or that the market is already saturated, but if you believe you have valuable information and love writing, blogs may be a fantastic business for you. Just look at your passions and hobbies and think about what you can share with others. All you need to start is a website, and this renders the start-up cost close to, if not, nothing. Blogs, however, aren’t an easy way to make money quickly. You have to be consistent in posting, post quality information, and interact with your readers. If you succeed in building up a sizeable following though, you can make quite a living through ad space, product sales, sponsored posts, etc. Vlogs provide a slightly more modern update to blogs, and you can similarly monetize your videos.

Alternatively, podcasts have also become a popular form of entertainment in recent years. As with blogging, start-up costs are low and allow you to focus your business around your interests, but growing your business enough to reap a sizable profit can require substantial time and effort.









If you’d rather stick with a more traditional form of business however, you may prefer to stick with selling a product.

One possibility is to run an e-commerce store store. Much like a physical store, simply sell products of your choice but just do so over the internet. Admittedly there is a large amount of competition for ecommerce and customers may be more comfortable buying from a large, established business like Amazon. However, you can do a few things to increase your odds of success. First, look for profitable markets where there is still room for growth. And second, make sure to consider all the costs associated with your product (like manufacturing and distribution costs) to make sure the revenue will be enough to offset them.

Another option is to try your hand at dropshipping. If you’re wary of the costs associated with creating and selling your own product, this business idea may suit you better. With dropshipping, you act as the middleman sending customer purchase orders to a third-party seller, taking a commission from each sale or setting the price on your site slightly higher than that of the third-party seller. Entry costs are lower than for e-commerce as you don’t have to pay to produce your own product, and you don’t have to worry about losing money if the product doesn’t sell.







Lastly, perhaps the most diverse category of online businesses is those centered around a service.

Digital courses are a booming market. Online classes give you the opportunity to monetize your knowledge and skills. There are already courses for a large range of both academic and nonacademic subjects, and during the recent Covid-19 pandemic, people have only become more creative in finding ways to teach new subjects and activities online as customers seek new ways to learn from home. In addition, you can also sell prepared materials or downloadable content that compliments the course.

Consulting is another way for you to turn your expertise and experience into profit. If you have a deep understanding of a subject and manage to build up a reputable name, people may be willing to pay a pretty penny for your advice. In fact, it can be one of the most profitable online businesses. From finance to business to social media consulting, the options are plentiful and you’ll be sure to find your niche.

Another popular online business option is marketing. Within marketing itself you have a few options, two of which are affiliate and SEO (Search Engine Optimization) marketing. With affiliate marketing, you promote someone else’s product for a commission with each purchase. Using advertising, social media, blogging, or other methods, affiliate marketers aim to draw customers to the producer’s store. SEO (Search Engine Optimization) marketing is a sought after service, however it does require a greater skill set than some other marketing types. SEO refers to the process of working a website so it appears higher up on search engine result pages. As the ease of finding a website can greatly impact an store’s success, other online businesses are eager to utilize these services and to pay handsomely for them. One thing to keep in mind though is that Google’s search algorithms are constantly changing so you will have to make sure to continually educate yourself on these changes and understand how they will affect SEO.

Web design and development are two more options for your online business. If you have the creative inclination and program knowledge and access to do so, web design simply consists of putting together an attractive and engaging website that will draw in readers. Web development has a slightly higher barrier to entry as you do need the coding knowledge of how to build a website from the ground up. But if you put in the time and make the effort to learn, the payoff can be well worth the cost, and the demand for such work is fairly consistent.

Yet another service your online business can provide is virtual assistantship. Such a service typically consists of completing basic administrative tasks like answering phone calls, responding to emails, and making travel plans, as well as others like entering data or conducting research. As you need only organizational and task management skills, the startup requirements are low.

Last on this list is SaaS (Software as a Service). With SaaS, you develop and sell a software on a subscription basis. Of the business ideas on this list, it is perhaps among those with the most potential for profit. It’s all digital so input costs are low, and as long customers find the software worth the price and keep their subscriptions, you have a steady source of revenue.

While this article already ecompasses several potential online business models, it is nowhere close to an entirely comprehensive list. The options for online business are nearly limitless, so make sure to thoroughly consider and think through your options before choosing the one that suits you best!

Copy blogger

Gary Vaynerchuk

Tim Ferris

HK Start-up fund resources

【初創公司可以拿到甚麽資助?4個政府資助計劃大整合!】 Start-up fund resources for your business in 2020!


Are you thinking of starting your own business? Are you already an owner of a start-up and are looking for funds? Well, lucky for you, you’re at the right place! The Hong Kong Government is very committed to support existing or newly startups!

SME Export Marketing Fund 中小企業市場推廣基金


  • 中小企業市場推廣基金」旨在向中小企業提供資助,以鼓勵中小企業參與出口推廣活動,藉此協助其擴展香港境外市場。2020年1月20日起,每家合資格企業的累計資助上限已由40萬元提高至80萬元! The SME provides financial support to small and medium sized businesses and encourage them to expand their markets outside Hong Kong. They provide up to $800,000 on expenditure related to export promotion activity.

Cyberport Accelerator Support Programme

  • 「數碼港加速器支援計劃」為準備開拓海外巿場及投資的數碼港培育公司或已畢業的培育公司,提供最高達30萬港元的資助額,申請者必須成功獲得認可的加速器計劃成功取錄。

Dedicated Fund on Branding, Upgrading and Domestic Sales (BUD) – ASEAN FTA Programme 發展品牌、升級轉型及拓展內銷市場的專項基金 (BUD專項基金)- 東盟及自貿協定計劃

香港生產力促進局 HK productivity council








  • This programme provides a fund of HK$2,000,000 on a matching basis for maximum 10 projects and targets ASEAN/FTA markets. The HK SAR Government set up a “Dedicated Fund on Branding, Upgrading and Domestic Sales.” They provide a reimbursement of 50% of total approved cost.

Researcher Programme 研究人才庫 The Researcher Programme subsidises 2 researchers for 36 months each- max monthly allowance of $21,000. This programme encourages university graduates to pursue a career in Innovation & Technology.

「研究人才庫」於2020年7月推出,旨在提供資助予獲「創新及科技基金」(基金)資助進行研究及發展(研發)項目 的機構/公司,以聘用研究人才進行研發工作。「研究人才庫」整合了較早前推出適用於基金資助研發項目的機構/公司的「研究員計劃」和「博士專才庫」。





Each ITF project can engage  at any one time up to 4 research talent

The maximum engagement period for each research talent is 36 months in general.

The maximum monthly allowance is HK$18,000 for research talents with a bachelor degree, HK$21,000 for those with a master degree, and HK$32,000 for those with a doctoral degree.

Different Types of Entrepreneurs

We all understand who entrepreneurs are and what they do. Surprisingly, even though most of them share similar traits, they are not all the same. In this blog, we will talk about the different types of entrepreneurs who run businesses.

  • Innovative Entrepreneurs

As the word “innovative” suggests- this group of entrepreneurs love coming up with and introducing new ideas and creations into the business world. They love to take risks and are great at anticipating people’s needs and turning them into wants!

Clear Light Bulb Placed on Chalkboard
  • Imitating Entrepreneurs

Imitate? Wait.. does that mean they copy others? Well, you guessed it right! This group of entrepreneurs love copying other people’s ideas and replicating them.

  • Fabian Entrepreneurs

This group of entrepreneurs love to play it safe! In order to incorporate a new technique or design or innovation, they wait for it to be tested by others and if it ends up having a positive response, they include it in their own companies too!

  • Drone Entrepreneurs

These entrepreneurs are reluctant to change. And.. why wouldn’t they? No one likes change. We all prefer our comfort zones and like things the way they are. However, this quality ends up becoming a barrier in their business since they are not willing to adopt to new techniques even if they are burdened with losses.




複製?等等..這是否意味著他們會抄襲他人? 好吧,你猜對了⋯⋯ 這群企業家喜歡複製他人的想法並加以復制。不過複製而加以改善,未嘗不是好事呢。