This volume brings together eight case studies of young Georgian entrepreneurs, men, and women who had the courage to take a risk and set up their own businesses. The eight case studies allow readers to accompany these entrepreneurs on the challenging journey of doing business in a very difficult environment, with very limited access to finance, knowledge, and modern technology. They worked in a very small market inundated by low-quality but cheap imports, and with many small competitors producing roughly the same (basic) goods and services, thus driving each other’s profit margins to zero, and with no skilled and disciplined labor to count on and hardly anybody to approach for advice.
This volume is not a regular textbook. The main idea is not to teach, but to inspire and show that people can change their own lives and the lives of others by taking calculated risks; to show that one should not dogmatically stick to any business model or idea, but rather be quick to admit to their mistakes (which will always happen) and use them as an opportunity to learn, make adjustments and start again.
Our cases are presented in a manner that will allow readers to appreciate the importance of different stages in the process of establishing and running a business.