"Seeing healthy profit and high demand in their services, they invested most of their capital into a printing machine to cope with the demand. The investment nearly proved to be a fatal decision for the startup company as the print quality from its new machines was really bad – and it seriously affected sales. Customers rejected orders and cash-flow dried up. At the end of the first year, they struggled with payroll for their 10 staff, as well as payment to suppliers. They were in debt. This was Loc’s lowest point in his entrepreneurship life. Sales were bad, and his co-founder left. He owed his friends and family money, and no one offered help. He was alone. Times were very tough for Loc, and he remembers crying silently into his pillow almost every night."
Deep in Debt, Co-Founder Gone. Here’s How One Vietnamese Entrepreneur Fought Back
Deep in Debt, Co-Founder Gone. Here’s How One Vietnamese Entrepreneur Fought Back
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