Some things to consider before starting a business

[SiNeReiNZzz]

Thanks for this shares of a well-organized tips on how to start a business. Have copied in my notes for reference and also for study purposes. It is not an easy thing to do business but with determination and adaptation to what is trend it will be starting point on that journey.

I want to be called as businessman someday. A well respected one not the scam entrepreneur. If I have enough capital I would start one on small scale first. I have an eye for a bitcoin related business someday.

There is nothing more beneficial than having your own business. This is a very good approach to start the business on a small scale and then increasing the scale of your business from time to time. But before putting your head in any sort of stuff, you need to know about that especially in case of Bitcoins. Only then you can get what you aimed for.

Indeed! In today’s world where everything is hell expensive, you can’t move in few steps with empty pockets. Money is needed for each and everything that we want whether it is good education, a safe home etc. private business is the best option to meet your all needs but again we need to know all details of anything we are setting up as a business whether they are bitcoins or something else.

Precisely! The problem here and out is all about money, and as you have said even education already has a price, and if you would sum up it would only end up having trouble with money. For now it is really wiser you have business while you still have money and it would be really nice before having business is that learn more and study the details about what you are going to build as business.

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[guoyu78]

I think that trade is a job that requires a lot of factors, and it is tied to all the changes in the money market. For bitcoin and all altcoins, the value is always changing, we need to learn how to capture the moment accurately. In addition, we also need assertiveness to make timely decisions. Lastly, what you must have in order to be able to trade.

Perfectly said. These are things which matter the most before you start some sort of business. You cannot do anything in a better way till the time you don’t have an idea of what to do and how to do. You need to be a learned man.

[chickenado]

I think that trade is a job that requires a lot of factors, and it is tied to all the changes in the money market. For bitcoin and all altcoins, the value is always changing, we need to learn how to capture the moment accurately. In addition, we also need assertiveness to make timely decisions. Lastly, what you must have in order to be able to trade.

Perfectly said. These are things which matter the most before you start some sort of business. You cannot do anything in a better way till the time you don’t have an idea of what to do and how to do. You need to be a learned man.

Indeed. Let's aways put in mind that when starting a business, you have to think the location all the time so that customers won't be hesitant to purchase of the products yoi are going to introduce. For instance, you already have the budget for a particular kind of business but what if the customers don't like the products so it's still a waste. So in order to not to be wasted for your effort. You have to consider the accessibility of customer's security whenever they visit a shop.

[yvesp110]

I think that trade is a job that requires a lot of factors, and it is tied to all the changes in the money market. For bitcoin and all altcoins, the value is always changing, we need to learn how to capture the moment accurately. In addition, we also need assertiveness to make timely decisions. Lastly, what you must have in order to be able to trade.

You are absolutely right. Doing Business is an art and not everyone is an artist. You need to have a very clear mind regarding what to do. Only then you can excel in your life. Before starting of any kind of Business, you need to learn and learn well about that. Only then you can succeed.

[Yatsan]

I think that trade is a job that requires a lot of factors, and it is tied to all the changes in the money market. For bitcoin and all altcoins, the value is always changing, we need to learn how to capture the moment accurately. In addition, we also need assertiveness to make timely decisions. Lastly, what you must have in order to be able to trade.

You are absolutely right. Doing Business is an art and not everyone is an artist. You need to have a very clear mind regarding what to do. Only then you can excel in your life. Before starting of any kind of Business, you need to learn and learn well about that. Only then you can succeed.

But making an perfect Artwork have process to undergo and several draft to make and person can be an artist just by practicing. So I think in business that's make sense too, you just need a one big perfect timing that your business will became successful no matter how many draft or fail because you only just need a perfect one to become a rich. Only people that is not afraid to take the risk are the one that is becoming rich.

[syaripudin]

I think a lot of things to be prepared before starting to do business. Calculation errors can make the business we live will go bankrupt. The calculation of operational biyaya be one of the things that must be considered in starting a business that we will live. the business world is a world full of manipulation. lest we be fooled by our own business associates. choose a business partner who really can be trusted for the business we live can run smoothly. and also need a great marketing system. so we must have a very reliable marketing. so that the business we live can be right on target.

[yrreg ger]

I think a lot of things to be prepared before starting to do business. Calculation errors can make the business we live will go bankrupt. The calculation of operational biyaya be one of the things that must be considered in starting a business that we will live. the business world is a world full of manipulation. lest we be fooled by our own business associates. choose a business partner who really can be trusted for the business we live can run smoothly. and also need a great marketing system. so we must have a very reliable marketing. so that the business we live can be right on target.

Yes this is true, we need to make a plan before we in a business. Planning, Organizing, Staffing, Leading and Controlling this strageties will help us to make a successful business. We need to plan first before we go in the business then we need to orginize to arrange eveything, statfing that needs to asign a task to person with their own skills, Leading are most important to check if this will in the flow of plan and the last controlling that needs to control the in and out, the price and everything.

[onyok]

Well I just want to share some information regarding on how to start a business because as we can see, we are all want to have a stable business and we want to be a very good entrepreneur someday because if we're just working and working to earn money then if we can't work anymore we won't be able to sustain our needs anymore. I think this is worth reading especially those who are planning to build an ICO or a project. I've got this from my professor on college :

NOTE-REFERENCES :  Webster’s College Dictionary (Random House/McGraw Hill)
What is an Entrepreneur?
Entrepreneur: A person who organizes and manages an enterprise, especially a business, usually with considerable initiative and risk.
Initiative: Readiness and ability in initiating action.
Risk: The hazard or chance of loss.

NOTE-REFERENCES : The Portable MBA in Entrepreneurship, 2nd Ed.; William D. Bygrave, Editor. John Wiley and Sons Publishers, 1997.
What Does it Take to Be Successful?

• “In entrepreneurship, luck is where preparation and opportunity meet.”

• “The idea is not what is important. In entrepreneurship; ideas are a dime a dozen. Developing the idea, implementing it, and building a successful business are the important things.”

• “Would-be entrepreneurs who are unable to name customers are not ready to start a business. They have only found an idea and have not yet identified a market need.”

• Somehow, someday… you are going to have to earn POSITIVE CASH FLOW. You need more than a revenue model (but you do need that). You need a VALUE model.
  

• Market share is great, but you can’t pay bills with it.
  

• You can do some financially stupid things to build market share.
  

Where Do You Start?
Think about WHO is going to want your product/service, what they will PAY for it, what you will NEED to carry it off, and how you will MAKE MONEY someday. That is, make a PLAN.

Success depends on
positive cash flow, growth,
 and value creation.

   Owners and investors who forget that tend to get “naturally deselected.”

The Importance of Value Creation

• A successful business is one that delivers value to its customers and creates value for its owners.

Value is delivered to your customers when you do something for them
Better
Cheaper
Faster
Cooler
Different
However, it is likely that none of these will work for long, so continuous improvement and innovation are essential.

Value is created for the owners when:
-You do more with their money than they could do with it themselves
-You invest in productive activities that earn rates of return greater than their risk-adjusted costs of capital.
-The present value of future cash flows exceeds the startup costs.

Value is created by:
-Exploiting proprietary physical resources
-Possessing proprietary knowledge or expertise
-Creating a new or improved product, process, or service
-Staying ahead of the competition through constant improvement and innovation
   
Planning for Success

-Don’t plan a business for today – Plan it for at least a year from now.
-Moore’s Law: Computing power will roughly double every 18 months.
-Bandwidth will continue to increase for most users almost ad infinitum.
-People will live longer and maintain active lifestyles far after retirement.
-Energy sources and consumption patterns will change drastically.
-The world will continue to be a very dangerous place.

How To Not Get Funded


-Have a half-baked idea
-Have a meatless business plan
-Can’t articulate your value proposition
-Can’t identify your market potential
-Can’t justify your sales projections
-Can’t show your investors an exit
-Can’t show your investors a reasonable expectation of a reasonable return on investment
-Don’t think about risk
-Take no risk yourself
-Don’t take time to do your homework
-Try to fund a “lifestyle” venture

Funding Your Venture

-The hardest funding to raise is the first funding. You are probably on your own.
-Later funding gets progressively easier depending on the results you can show to investors and what you need to fund.
-BANKS are probably not going to help.
-The best funding is INTERNAL funding (reinvested earnings).
-PRIVATE EQUITY is the current buzzword for the major capital source for business ventures.
Closing thoughts

picture source :https://wealthygorilla.com/23-wise-warren-buffett-quotes-on-success/

For me, if  you are planning to build up a business even if its big or small be sure that you have a capital that support your to your business. secondly you have a knowledge on how to manage an effective business, therefore you are hard working not during there is costumer but also when there is no.Thirdly you are willing to accept all attitude of your costumer probably there are some costumer that boastful sometimes in that point you are also open-minded for that particular case. thanks.

Yeah your correct. In every business there should be an enough capital for the sustaining if the needs of your business..and also you should be well determined and hardworking for your business..you should also keep studying about your business. Dont base of what you only already have about your business. You should also be a risk taker because though i am not already  a business man but base on the articles and informations that i have red. Every people who are going to engage in a business shuold be ready to take any risk on your business..

[Pakboy]

Thank you! I've been reading a lot of articles about how to start a business because I really want to start one.
I have a stable job but I want to have my own business as well.
This is very informative.

     Its good to you to think to have a new business even though you have a stable job, just consider somethings before you build a business as like as do some research to want demand business today or make a your hobby a business, if you love to baked then start a bakeshop or online shop. Nowadays, Online shop is more convenient business. I'm looking forward to the success of your business.

Yeah that is true. Before we start a business be sure first that we have a lot of knowledge to our business like in investing in trading, we should have a lot of knowledge to it for us to earn money.

[Sled]

If you want to start a business you need to do some research first from the place that you will build a business. Do some research to find out what is the best business for that place and what are the most people need in that place and after you find out what is the most necessary thing in that place then just build a business with a solid team or employees and also don't forget to accept bitcoin.

[ilovefeetsmell]

Thank you! I've been reading a lot of articles about how to start a business because I really want to start one.
I have a stable job but I want to have my own business as well.
This is very informative.

That's why I've shared some words that I've got from my professors lecture. Well its not really what that can bring you up but this can bring you a glimpse and a thought of what will you do in order to start some business or a really valuable asset. Businesses ain't good to us nowadays because everyone want to start one and only few became really successful. It's still up to us on how we will make the climb.

Starting a business or becoming a certified entrepreneur is a big dream come true for many. There are many employees right now who are part of the rat race that are already tired of the stress, the long commute, the office politics and of course tired of their bosses and they want to one day be their own boss and be at the front seat.

Of course, getting into a business can be easier but the hardest thing is making the business thrive and flourish -- this is where we have to apply the entrepreneurial skills learned or just natural into the situation. One must be prepared for such a venture and one must be adept and be agile for any possible problems that can come anytime. Only around 1 in 5 start-ups would survive in a 5-year period and this is discouraging in the first place if one is not really prepared for the whole thing.

Start a new life with business was a best idea. Businesses today was become successful. There is a lot of business opportunities that are getting rich rather than employee of their business. Make and start a new business with yours and it will help your life become better.

[Hamstead]

Thank you! I've been reading a lot of articles about how to start a business because I really want to start one.
I have a stable job but I want to have my own business as well.
This is very informative.

That's why I've shared some words that I've got from my professors lecture. Well its not really what that can bring you up but this can bring you a glimpse and a thought of what will you do in order to start some business or a really valuable asset. Businesses ain't good to us nowadays because everyone want to start one and only few became really successful. It's still up to us on how we will make the climb.

Starting a business or becoming a certified entrepreneur is a big dream come true for many. There are many employees right now who are part of the rat race that are already tired of the stress, the long commute, the office politics and of course tired of their bosses and they want to one day be their own boss and be at the front seat.

Of course, getting into a business can be easier but the hardest thing is making the business thrive and flourish -- this is where we have to apply the entrepreneurial skills learned or just natural into the situation. One must be prepared for such a venture and one must be adept and be agile for any possible problems that can come anytime. Only around 1 in 5 start-ups would survive in a 5-year period and this is discouraging in the first place if one is not really prepared for the whole thing.

Start a new life with business was a best idea. Businesses today was become successful. There is a lot of business opportunities that are getting rich rather than employee of their business. Make and start a new business with yours and it will help your life become better.

I could say 95% of business owners have fully succeed in their first attempt in business world. Because some of them have lack of knowledge in operation and not enough capital. When you plan for putting a business you must first seek for any suggestions around you and you should prepare enough capital that could sustain it for a long time. And you should monitor your business flow and profit daily in that way you know how profitable is your business.

[feelideb]

My question here is how can peoples start business with bitcoin if they are not tech savvy?

[Casdinyard]

Thank you! I've been reading a lot of articles about how to start a business because I really want to start one.
I have a stable job but I want to have my own business as well.
This is very informative.

OP thanks for the helpful thread.
Well for me if you're planning to start a business you should start by asking yourself what really interest you. Your likes and hobbies or where are you fond of. Then out of these you can think what business you'll put up. You should also know your target market and you should analyze carefully the market. You can also get some useful informations in business books and some are in internet. There are a lot of sources that can be helpful to start up.

[d1ceplayer]

Well I just want to share some information regarding on how to start a business because as we can see, we are all want to have a stable business and we want to be a very good entrepreneur someday because if we're just working and working to earn money then if we can't work anymore we won't be able to sustain our needs anymore. I think this is worth reading especially those who are planning to build an ICO or a project. I've got this from my professor on college :

NOTE-REFERENCES :  Webster’s College Dictionary (Random House/McGraw Hill)
What is an Entrepreneur?
Entrepreneur: A person who organizes and manages an enterprise, especially a business, usually with considerable initiative and risk.
Initiative: Readiness and ability in initiating action.
Risk: The hazard or chance of loss.

NOTE-REFERENCES : The Portable MBA in Entrepreneurship, 2nd Ed.; William D. Bygrave, Editor. John Wiley and Sons Publishers, 1997.
What Does it Take to Be Successful?

• “In entrepreneurship, luck is where preparation and opportunity meet.”

• “The idea is not what is important. In entrepreneurship; ideas are a dime a dozen. Developing the idea, implementing it, and building a successful business are the important things.”

• “Would-be entrepreneurs who are unable to name customers are not ready to start a business. They have only found an idea and have not yet identified a market need.”

• Somehow, someday… you are going to have to earn POSITIVE CASH FLOW. You need more than a revenue model (but you do need that). You need a VALUE model.
  

• Market share is great, but you can’t pay bills with it.
  

• You can do some financially stupid things to build market share.
  

Where Do You Start?
Think about WHO is going to want your product/service, what they will PAY for it, what you will NEED to carry it off, and how you will MAKE MONEY someday. That is, make a PLAN.

Success depends on
positive cash flow, growth,
 and value creation.

   Owners and investors who forget that tend to get “naturally deselected.”

The Importance of Value Creation

• A successful business is one that delivers value to its customers and creates value for its owners.

Value is delivered to your customers when you do something for them
Better
Cheaper
Faster
Cooler
Different
However, it is likely that none of these will work for long, so continuous improvement and innovation are essential.

Value is created for the owners when:
-You do more with their money than they could do with it themselves
-You invest in productive activities that earn rates of return greater than their risk-adjusted costs of capital.
-The present value of future cash flows exceeds the startup costs.

Value is created by:
-Exploiting proprietary physical resources
-Possessing proprietary knowledge or expertise
-Creating a new or improved product, process, or service
-Staying ahead of the competition through constant improvement and innovation
   
Planning for Success

-Don’t plan a business for today – Plan it for at least a year from now.
-Moore’s Law: Computing power will roughly double every 18 months.
-Bandwidth will continue to increase for most users almost ad infinitum.
-People will live longer and maintain active lifestyles far after retirement.
-Energy sources and consumption patterns will change drastically.
-The world will continue to be a very dangerous place.

How To Not Get Funded


-Have a half-baked idea
-Have a meatless business plan
-Can’t articulate your value proposition
-Can’t identify your market potential
-Can’t justify your sales projections
-Can’t show your investors an exit
-Can’t show your investors a reasonable expectation of a reasonable return on investment
-Don’t think about risk
-Take no risk yourself
-Don’t take time to do your homework
-Try to fund a “lifestyle” venture

Funding Your Venture

-The hardest funding to raise is the first funding. You are probably on your own.
-Later funding gets progressively easier depending on the results you can show to investors and what you need to fund.
-BANKS are probably not going to help.
-The best funding is INTERNAL funding (reinvested earnings).
-PRIVATE EQUITY is the current buzzword for the major capital source for business ventures.
Closing thoughts
[im g]https://i.imgur.com/GI4Ui2E.png[/img]
picture source :https://wealthygorilla.com/23-wise-warren-buffett-quotes-on-success/

Before starting a new business you need to have done your job, by this I mean you need to have done your homework of doing research and knowing whether or not the business would be evergreen and profitable in the long run

[Intersan]

If you want to start a business you need to do some research first from the place that you will build a business. Do some research to find out what is the best business for that place and what are the most people need in that place and after you find out what is the most necessary thing in that place then just build a business with a solid team or employees and also don't forget to accept bitcoin.

This time if you use bitcoin in the business it is not a good idea, this is because the popularity and the legalise of bitcoin. Some countries did not accept the bitcoin cause its illegal, and some people have no idea about in bitcoin.

To start a business you need to plan, think the possible result, like what you said it needs a place were it is demand and has many people. Or start a business that in your place is nothing, you have no competent.

[darkangel]

Well I just want to share some information regarding on how to start a business because as we can see, we are all want to have a stable business and we want to be a very good entrepreneur someday because if we're just working and working to earn money then if we can't work anymore we won't be able to sustain our needs anymore. I think this is worth reading especially those who are planning to build an ICO or a project. I've got this from my professor on college :

NOTE-REFERENCES :  Webster’s College Dictionary (Random House/McGraw Hill)
What is an Entrepreneur?
Entrepreneur: A person who organizes and manages an enterprise, especially a business, usually with considerable initiative and risk.
Initiative: Readiness and ability in initiating action.
Risk: The hazard or chance of loss.

NOTE-REFERENCES : The Portable MBA in Entrepreneurship, 2nd Ed.; William D. Bygrave, Editor. John Wiley and Sons Publishers, 1997.
What Does it Take to Be Successful?

• “In entrepreneurship, luck is where preparation and opportunity meet.”

• “The idea is not what is important. In entrepreneurship; ideas are a dime a dozen. Developing the idea, implementing it, and building a successful business are the important things.”

• “Would-be entrepreneurs who are unable to name customers are not ready to start a business. They have only found an idea and have not yet identified a market need.”

• Somehow, someday… you are going to have to earn POSITIVE CASH FLOW. You need more than a revenue model (but you do need that). You need a VALUE model.
  

• Market share is great, but you can’t pay bills with it.
  

• You can do some financially stupid things to build market share.
  

Where Do You Start?
Think about WHO is going to want your product/service, what they will PAY for it, what you will NEED to carry it off, and how you will MAKE MONEY someday. That is, make a PLAN.

Success depends on
positive cash flow, growth,
 and value creation.

   Owners and investors who forget that tend to get “naturally deselected.”

The Importance of Value Creation

• A successful business is one that delivers value to its customers and creates value for its owners.

Value is delivered to your customers when you do something for them
Better
Cheaper
Faster
Cooler
Different
However, it is likely that none of these will work for long, so continuous improvement and innovation are essential.

Value is created for the owners when:
-You do more with their money than they could do with it themselves
-You invest in productive activities that earn rates of return greater than their risk-adjusted costs of capital.
-The present value of future cash flows exceeds the startup costs.

Value is created by:
-Exploiting proprietary physical resources
-Possessing proprietary knowledge or expertise
-Creating a new or improved product, process, or service
-Staying ahead of the competition through constant improvement and innovation
   
Planning for Success

-Don’t plan a business for today – Plan it for at least a year from now.
-Moore’s Law: Computing power will roughly double every 18 months.
-Bandwidth will continue to increase for most users almost ad infinitum.
-People will live longer and maintain active lifestyles far after retirement.
-Energy sources and consumption patterns will change drastically.
-The world will continue to be a very dangerous place.

How To Not Get Funded


-Have a half-baked idea
-Have a meatless business plan
-Can’t articulate your value proposition
-Can’t identify your market potential
-Can’t justify your sales projections
-Can’t show your investors an exit
-Can’t show your investors a reasonable expectation of a reasonable return on investment
-Don’t think about risk
-Take no risk yourself
-Don’t take time to do your homework
-Try to fund a “lifestyle” venture

Funding Your Venture

-The hardest funding to raise is the first funding. You are probably on your own.
-Later funding gets progressively easier depending on the results you can show to investors and what you need to fund.
-BANKS are probably not going to help.
-The best funding is INTERNAL funding (reinvested earnings).
-PRIVATE EQUITY is the current buzzword for the major capital source for business ventures.
Closing thoughts

picture source :https://wealthygorilla.com/23-wise-warren-buffett-quotes-on-success/

I am not a good business expert so when business needs to note:
1. Are you really capable in this field.
2. Do you have money to spend?
3. The field you invest is really true, customer needs how.
4. How much profit does it bring?
5. Development.

[Nahl]

thanks for sharing and it is very usefull informations however mentally also the main thing before we starting a business because the theory won't working well if we don't have good mentally especially when we starting business for the first times there will be plenty of constraints to be faced such as loss or low support market and do not expect instant profit in business because usually good business only for long term

[LordDisick]

Thank you for the insights. I've been wanting to start a small business at home and this article is very helpful. Since i still dont have the capital to start my dream business i still have to work hard here and earn more bitcoin since its the only way I can save up.

[richkellj]

Well I just want to share some information regarding on how to start a business because as we can see, we are all want to have a stable business and we want to be a very good entrepreneur someday because if we're just working and working to earn money then if we can't work anymore we won't be able to sustain our needs anymore. I think this is worth reading especially those who are planning to build an ICO or a project. I've got this from my professor on college :

NOTE-REFERENCES :  Webster’s College Dictionary (Random House/McGraw Hill)
What is an Entrepreneur?
Entrepreneur: A person who organizes and manages an enterprise, especially a business, usually with considerable initiative and risk.
Initiative: Readiness and ability in initiating action.
Risk: The hazard or chance of loss.

NOTE-REFERENCES : The Portable MBA in Entrepreneurship, 2nd Ed.; William D. Bygrave, Editor. John Wiley and Sons Publishers, 1997.
What Does it Take to Be Successful?

• “In entrepreneurship, luck is where preparation and opportunity meet.”

• “The idea is not what is important. In entrepreneurship; ideas are a dime a dozen. Developing the idea, implementing it, and building a successful business are the important things.”

• “Would-be entrepreneurs who are unable to name customers are not ready to start a business. They have only found an idea and have not yet identified a market need.”

• Somehow, someday… you are going to have to earn POSITIVE CASH FLOW. You need more than a revenue model (but you do need that). You need a VALUE model.
  

• Market share is great, but you can’t pay bills with it.
  

• You can do some financially stupid things to build market share.
  

Where Do You Start?
Think about WHO is going to want your product/service, what they will PAY for it, what you will NEED to carry it off, and how you will MAKE MONEY someday. That is, make a PLAN.

Success depends on
positive cash flow, growth,
 and value creation.

   Owners and investors who forget that tend to get “naturally deselected.”

The Importance of Value Creation

• A successful business is one that delivers value to its customers and creates value for its owners.

Value is delivered to your customers when you do something for them
Better
Cheaper
Faster
Cooler
Different
However, it is likely that none of these will work for long, so continuous improvement and innovation are essential.

Value is created for the owners when:
-You do more with their money than they could do with it themselves
-You invest in productive activities that earn rates of return greater than their risk-adjusted costs of capital.
-The present value of future cash flows exceeds the startup costs.

Value is created by:
-Exploiting proprietary physical resources
-Possessing proprietary knowledge or expertise
-Creating a new or improved product, process, or service
-Staying ahead of the competition through constant improvement and innovation
   
Planning for Success

-Don’t plan a business for today – Plan it for at least a year from now.
-Moore’s Law: Computing power will roughly double every 18 months.
-Bandwidth will continue to increase for most users almost ad infinitum.
-People will live longer and maintain active lifestyles far after retirement.
-Energy sources and consumption patterns will change drastically.
-The world will continue to be a very dangerous place.

How To Not Get Funded


-Have a half-baked idea
-Have a meatless business plan
-Can’t articulate your value proposition
-Can’t identify your market potential
-Can’t justify your sales projections
-Can’t show your investors an exit
-Can’t show your investors a reasonable expectation of a reasonable return on investment
-Don’t think about risk
-Take no risk yourself
-Don’t take time to do your homework
-Try to fund a “lifestyle” venture

Funding Your Venture

-The hardest funding to raise is the first funding. You are probably on your own.
-Later funding gets progressively easier depending on the results you can show to investors and what you need to fund.
-BANKS are probably not going to help.
-The best funding is INTERNAL funding (reinvested earnings).
-PRIVATE EQUITY is the current buzzword for the major capital source for business ventures.
Closing thoughts

picture source :https://wealthygorilla.com/23-wise-warren-buffett-quotes-on-success/

Before starting a new business you need to have done your job, by this I mean you need to have done your homework of doing research and knowing whether or not the business would be evergreen and profitable in the long run

Starting a business without studying our audiences, respective market, and competitors in details is just like sitting in an examination hall without preparation and hoping to clear it. Business is nothing fun; it is a proper profession, a subject. We need to work hard before starting any business so that it does not fail.