i have a very stubborn friend that reckons his biz idea - lets call it X - is a sure thing
he has little biz sense but is super keen
he has done no research on investment amount, demographics, market size, pricing etc etc. he simply thinks its a good idea
biz x - service industry biz in taipei for which he has no contacts nor experience in.
he needs a wad of cash to get it anywhere near starting. he has rented space (lots of $) , has a massive reno required, no investors, no timelines etc etc
i have pointed him toward biz planning resources, tried to sit down with him and a basic spreasheet to show him montlhy incomings and outgoiongs to gain an understanding of his minimum montlhy turnover to stay afloat - ie pricing, no of clients/customers etc etc… but he wont listen.
what can i do? he is a great friend and i want him to be successful (which he alreadt is in another industry) but i worry about his road ahead.