If research samples were large enough, there would be clear and definite answers to many of these questions, although some answers may depend on a company’s characteristics.
Harvard University offers courses that teach students about the possible pitfalls for start-ups. However, in Taiwan, most academics and experts rarely do research that could be instructive for start-ups, nor do government agencies carry out basic research. Once they set objectives and methods for a plan, they begin to implement it, hope to meet short-term key performance indicators quickly and disregard long-term development. With such guidance, company founders often lose their partners and their businesses fail. Many entrepreneurs encounter problems and even financial losses. Unfortunately, such poor guidance is also a waste of social resources.
If academia and the government really want to provide guidance for entrepreneurs, perhaps they should begin by conducting more research to help people avoid the pitfalls that commonly hinder start-ups.
Tu Jenn-hwa is director of the Commerce Development Research Institute’s business development and policy research department.
Translated by Eddy Chang