Why are you so pessimist ?
Why are you so pessimist ?
Hi here,
I just came from two week travel in cambodia. I really enjoyed the country and I want to come back and try my own business in food industry, (not a restaurant but creating a product in cambodia tourist can take home).
I'm reading lots of topic on this forum and I can see there are lot of people realy pessimist about :
Creating a business in Cambodia,
or even work in Cambodia.
Is it really impossible to be wealthy here ?
(I saw some expat people making business, it's true in hotel or restaurant, but can we try something different?)
thanks
Marino
I just came from two week travel in cambodia. I really enjoyed the country and I want to come back and try my own business in food industry, (not a restaurant but creating a product in cambodia tourist can take home).
I'm reading lots of topic on this forum and I can see there are lot of people realy pessimist about :
Creating a business in Cambodia,
or even work in Cambodia.
Is it really impossible to be wealthy here ?
(I saw some expat people making business, it's true in hotel or restaurant, but can we try something different?)
thanks
Marino
Some people are pessimistic about Cambodia mostly because they have no clue about how to set up or how to run a profitable business. They would be just as pessimistic in Thailand or in neighbouring countries and sometimes ended up in Cambodia because they couldn't make it anywhere else in the first place.
Khmers don't have money in general, true, however you can make a reasonable living and money in Cambodia if you find a good niche for your own business and don't depend on the local market.
For instance you can perfectly well sell stuff abroad online with minimum fuss and overhead. Digital nomads with a head for business can make a living regardless of the low wage competition because the local talent pool is so shallow and the Khmer education/knowledge/hard work commitment levels are really low.
There are several members here on 440 who started from nothing and have become profitable entrepreneurs. There is also a large contingent who haven't achieved anything much and are perfectly content to spend their days sipping 50c beer in bars by choice or to teach a few hours a day to make ends meet or bum around hoping to score big time "one day". Eventually it's on you. Not everyone is ambitious or has the right mindset, but if you do you can certainly make it.
Khmers don't have money in general, true, however you can make a reasonable living and money in Cambodia if you find a good niche for your own business and don't depend on the local market.
For instance you can perfectly well sell stuff abroad online with minimum fuss and overhead. Digital nomads with a head for business can make a living regardless of the low wage competition because the local talent pool is so shallow and the Khmer education/knowledge/hard work commitment levels are really low.
There are several members here on 440 who started from nothing and have become profitable entrepreneurs. There is also a large contingent who haven't achieved anything much and are perfectly content to spend their days sipping 50c beer in bars by choice or to teach a few hours a day to make ends meet or bum around hoping to score big time "one day". Eventually it's on you. Not everyone is ambitious or has the right mindset, but if you do you can certainly make it.
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That's a common misconception. Sure, out in the countryside people aren't throwing money at $100 running shoes and protein powder, but in most urban centers there's quite a bit of money around. Most expats businesses tend to overlook the locals are a potential consumer of their product or service because, well, they don't understand locals well. There's plenty of money to be made from any well-run business, be it catering to expats, locals, other businesses and so on.logos wrote:Khmers don't have money in general, true, however you can make a reasonable living and money in Cambodia if you find a good niche for your own business and don't depend on the local market.
As for expats being pessimistic, I think it's also in large part because the longer you've been here, the more businesses you've seen fail. Let's keep things in perspective: only what, 10-30% of businesses ever succeed in the true sense of the word? Even fewer "get rich" of it. If you're dead set on your idea, you just need to develop a good business plan, learn how to do business here, and ignore the naysayers. That's what real business- minded people do. As mentioned, the big naysayers are usually the ones who have never had the guts or inclination to start a business. They're content sitting on their bar stools sipping 50 draft. Not that there's anything wrong with that, I enjoy cheap draft just as much as the next guy.
- chkwoot
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It's not pessimism, but realism, based upon observation, statistics, and probabilities. After only 2 weeks in Cambodia, I can guarantee that you know almost nothing about how business is done here. Come and live here full-time for a few years. Either have enough cash, or work for someone else, until you've done your homework. It's possible for an expat to do well here, just not probable, especially for a newcomer...unless you're already wealthy, and many of them get scammed and lose a lot.
Good luck.
Good luck.
I am sooooo very sorry if you can't understand or appreciate my sarcastic facetiousness.
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I completely agree with Lexus on this, and I have a few great examples from the F&B world. One of the more successful restaurant/bars here is Oskar. I say this as it's full even on a Sunday or Monday night for dinner. Although a "Western" style place, they've done a great job of being able to mix the clientele between expats and locals. Another one is the speakeasy Battbong. Expats go in there and buy a few cocktails, maybe a small bite to eat, and all that. But they make their real money with locals come in and buy a few bottles. Not to even mention places like Topaz that survive on wealthy locals.LexusSchmexus wrote:That's a common misconception. Sure, out in the countryside people aren't throwing money at $100 running shoes and protein powder, but in most urban centers there's quite a bit of money around. Most expats businesses tend to overlook the locals are a potential consumer of their product or service because, well, they don't understand locals well. There's plenty of money to be made from any well-run business, be it catering to expats, locals, other businesses and so on.logos wrote:Khmers don't have money in general, true, however you can make a reasonable living and money in Cambodia if you find a good niche for your own business and don't depend on the local market.
Those might not be perfect examples, but how about pizza. There is Luigi's, for example, which is fairly busy, and sells Italian style pizza to foreigners for about $8 a pie. On the other hand, you have The Pizza Company, which has 25+ outlets, selling large pizzas to locals for over $20 a pie. It's clear to see which market is bigger there. I'd take ownership of a Master Suki Soup franchise (aimed at locals) over a Western restaurant any day. There is a large Western tourist market (mostly in Siem Reap), but there are more Asian tourists as a whole than Westerners, and I wouldn't discount locals' purchasing power.
As for pessimism on the forum, there are some of the reasons that people listed above, but I also think it's just a bit of schadenfreude that enjoys seeing others fail. Also, all around the world, in the last ten years or so there has been this strange global (Western) trend to look down at those with money, such as the whole 1% protest movement in the U.S. really exemplified. So on here TEFLers making $1,200 a month get bitter at those who can afford a nice watch and simply ask where they can purchase a case/winder for it (a bit of an old inside joke). Because of that, people seldom talk about their successes out in public (on the forum) as they don't want to come across as bragging, etc. There are a number of posters on here that have done very well, some with hotels and in F&B, and others in completely random endeavors (as in, whatever JackRossi does).
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Which was promptly copied by a local opening "Ostro" restaurant four blocks away.Miguelito wrote:One of the more successful restaurant/bars here is Oskar.
Follow my lame Twitter feed: @gavin_mac
That's unusual, as they normally open the copy next door.gavinmac wrote:Which was promptly copied by a local opening "Ostro" restaurant four blocks away.Miguelito wrote:One of the more successful restaurant/bars here is Oskar.
If you can’t make it “back home”, you’re unlikely to make it here. Examples of successful expat businesses here tend to have owners who were successful in their home country, or at least had heavy experience & a plan of what they’d do when they got here and executed really well. Just pitching up with a “if it doesn’t work, I guess I can just teach English” is probably going to see you disillusioned with Cambodia pretty quick.
Meum est propositum in taberna mori,
ut sint Guinness proxima morientis ori.
tunc cantabunt letius angelorum chori:
"Sit Deus propitius huic potatori."
ut sint Guinness proxima morientis ori.
tunc cantabunt letius angelorum chori:
"Sit Deus propitius huic potatori."
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Spend a year here before you open a business. You might not like it after a few months here every single day.
Also consider buying an already established business. Some people have done all the work so ride their success instead of starting from scratch. Do your due diligence before purchasing of course but this can be a good way to mitigate the risk of a new venture.
Also consider buying an already established business. Some people have done all the work so ride their success instead of starting from scratch. Do your due diligence before purchasing of course but this can be a good way to mitigate the risk of a new venture.
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Hey Thanks for your encouraging sharing of experience. I know I have to prove myself. Sadly I'm not a digital entrepreneur, I can try to sell stuff on Internet. But I want to begin in selling food stuff I made and I market to tourist.logos wrote:Some people are pessimistic about Cambodia mostly because they have no clue about how to set up or how to run a profitable business. They would be just as pessimistic in Thailand or in neighbouring countries and sometimes ended up in Cambodia because they couldn't make it anywhere else in the first place.
Khmers don't have money in general, true, however you can make a reasonable living and money in Cambodia if you find a good niche for your own business and don't depend on the local market.
For instance you can perfectly well sell stuff abroad online with minimum fuss and overhead. Digital nomads with a head for business can make a living regardless of the low wage competition because the local talent pool is so shallow and the Khmer education/knowledge/hard work commitment levels are really low.
There are several members here on 440 who started from nothing and have become profitable entrepreneurs. There is also a large contingent who haven't achieved anything much and are perfectly content to spend their days sipping 50c beer in bars by choice or to teach a few hours a day to make ends meet or bum around hoping to score big time "one day". Eventually it's on you. Not everyone is ambitious or has the right mindset, but if you do you can certainly make it.
I'm serious, hard worker and I like well done stuff. I also want to work and share experience with Khmer, and the business is profitable for me I want locals to be profitable too.
I hope I will find on my way some entrepreneurs who started with nothing (or not a lot) and succeed.
Thanks for your answer !
Big Thanks for your comment. yes I'm kind of dead set on my idea and I want to try it. I'm starting the execution process. I like your philosophy , it's kind of the same for me. I have to do it to know.LexusSchmexus wrote:That's a common misconception. Sure, out in the countryside people aren't throwing money at $100 running shoes and protein powder, but in most urban centers there's quite a bit of money around. Most expats businesses tend to overlook the locals are a potential consumer of their product or service because, well, they don't understand locals well. There's plenty of money to be made from any well-run business, be it catering to expats, locals, other businesses and so on.logos wrote:Khmers don't have money in general, true, however you can make a reasonable living and money in Cambodia if you find a good niche for your own business and don't depend on the local market.
As for expats being pessimistic, I think it's also in large part because the longer you've been here, the more businesses you've seen fail. Let's keep things in perspective: only what, 10-30% of businesses ever succeed in the true sense of the word? Even fewer "get rich" of it. If you're dead set on your idea, you just need to develop a good business plan, learn how to do business here, and ignore the naysayers. That's what real business- minded people do. As mentioned, the big naysayers are usually the ones who have never had the guts or inclination to start a business. They're content sitting on their bar stools sipping 50 draft. Not that there's anything wrong with that, I enjoy cheap draft just as much as the next guy.
Is there any group or master mind I can join to learn more "how to do business here" ?
Why not working for someone for beginning, I'm not sure about that I think I can try directly on my own cause my business doesn't requires a big investment and don't require any shop in touristic place (BtoB business)
thks!
Oldnews wrote:That's unusual, as they normally open the copy next door.gavinmac wrote:Which was promptly copied by a local opening "Ostro" restaurant four blocks away.Miguelito wrote:One of the more successful restaurant/bars here is Oskar.
Yes I know for exemple if I create a new product who works someone will copy&paste it soon but if U're the first it means the copy/paster are late ).
Someone know What about brand copywriting in cambodia ?
Thanks for your suggestion, but what I will do during one year ?soyoung123 wrote:Spend a year here before you open a business. You might not like it after a few months here every single day.
Also consider buying an already established business. Some people have done all the work so ride their success instead of starting from scratch. Do your due diligence before purchasing of course but this can be a good way to mitigate the risk of a new venture.
My product doesn't require a big investment and I like to work so...
I'm sure I gonna like it