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maydna
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June 09, 2018, 11:07:40 AM |
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You need to be aware of:
1. Your market (Target Audience)
2. Correct advertising
3. It will take alot of time. Do not expect instant results
4. Do not give up on your ideas
(IF YOU ARE WORKING WITH OTHERS)
5. Know your team INSIDE OUT.
you are correct. besides that, we need to know who is our competitor and how we can give more good services to our customer so our customer will move to our business and buy some product in our store. we need to have a plan and strategy to make our business grow from time to time so we can expand our business to a new level and reach more customer in the future. maybe it will be difficult for the first time, but I think if we keep trying, then we can get success like the others. |
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Every time a block is mined, a certain amount of BTC (called the
subsidy) is created out of thin air and given to the miner. The
subsidy halves every four years and will reach 0 in about 130 years.
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arinalwa
Newbie
 Offline
Activity: 76
Merit: 0
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June 15, 2018, 10:00:04 AM |
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You need to be aware of:
1. Your market (Target Audience)
2. Correct advertising
3. It will take alot of time. Do not expect instant results
4. Do not give up on your ideas
(IF YOU ARE WORKING WITH OTHERS)
5. Know your team INSIDE OUT.
you are correct. besides that, we need to know who is our competitor and how we can give more good services to our customer so our customer will move to our business and buy some product in our store. we need to have a plan and strategy to make our business grow from time to time so we can expand our business to a new level and reach more customer in the future. maybe it will be difficult for the first time, but I think if we keep trying, then we can get success like the others. The first thing before starting a regular business is environmental scanning. It is about the situation and conditions of people trend and the right place for starting business. KYC, advertisement, patience, strong commitment etc. are after that. No doubt that the things you mentioned here are mandatory for business, but all these things are of no work in cryptocurrency investment except few things. |
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Question123
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June 15, 2018, 10:18:22 AM |
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Many people did not have plan or can't apply this characteritics before starting business or anything. Thse characteristics is very useful when you have business or invesment to any ptoject. You can apply this characteristic you can become successful or you will reach your target profit. Better to have also unique startegy to earn more money that you know will works for your business.
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Tigorss
Member
Offline
Activity: 308
Merit: 10
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June 15, 2018, 10:25:20 AM |
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1. Do not invest your own money
Since most businesses are risky, seek partners. So, if things do not go all the way, you will not go bankrupt because of the start-up funds, and not pursued debt.
2. Work hard
If you are not willing to work hard, overtime, forget personal gain and health, then entrepreneurship is not for you. At first, you definitely will not be able to pay employees, even if the employees are cheap. So, your employees are your own.
3. Use the latest technology
New technologies such as software and data storage with small companies are able to compete with large companies. Take advantage of low cost technologies on the market.
4. Respect the time
Rate the money in your time, for example Rp20 thousand per hour. This will help when you have to make a decision: If a store charges Rp10 thousand for shipping every week, and it takes you 2 hours to go to the store itself, then pay for the postage from the company, because it is cheaper.
5. Realistic
When creating a business model, look around and look for a successful example of the business model you want, then learn. If you can not find, whether you are an incredible genius, or your business model will not work in the real world.
6. Sell excess, not price
You start a business, you are naturally frustrated marketing it. But, if you compete on the price, you will end up selling at barely or even under capital. Master the skills of communicating with customers, to explain that your product price is higher because it has a better value
1. Not necessarily. Greater risk, greater reward. 2. Obviously. This is the number one factor to success in any business. 3. No-brainer. Look at what happened to Blockbuster. In 1 decade they lost everything to Netflix. 4. Time is of the essence. It is the most important thing we have. If you do not respect your time, and think about starting a business, you better think twice. 5. Nothing hurts a business more than overestimating goals. It is better to slightly underestimate and over-achieve than always overestimate what can be done and constantly under-achieve. 6. I was thinking of this the other day. I always used to compete on price, and wonder why my competition could sell at higher prices... usually WAY higher. And the other day I was in a supermarket that sold the same thing as Walmart but 10% more expensive and wondered why do people shop here? But there I was... thank you for having complemented each other to help the beginner how to do business and what to consider hopefully this can be useful. |
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adpinbr
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June 15, 2018, 12:52:05 PM |
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1. Do not invest your own money
Since most businesses are risky, seek partners. So, if things do not go all the way, you will not go bankrupt because of the start-up funds, and not pursued debt.
2. Work hard
If you are not willing to work hard, overtime, forget personal gain and health, then entrepreneurship is not for you. At first, you definitely will not be able to pay employees, even if the employees are cheap. So, your employees are your own.
3. Use the latest technology
New technologies such as software and data storage with small companies are able to compete with large companies. Take advantage of low cost technologies on the market.
4. Respect the time
Rate the money in your time, for example Rp20 thousand per hour. This will help when you have to make a decision: If a store charges Rp10 thousand for shipping every week, and it takes you 2 hours to go to the store itself, then pay for the postage from the company, because it is cheaper.
5. Realistic
When creating a business model, look around and look for a successful example of the business model you want, then learn. If you can not find, whether you are an incredible genius, or your business model will not work in the real world.
6. Sell excess, not price
You start a business, you are naturally frustrated marketing it. But, if you compete on the price, you will end up selling at barely or even under capital. Master the skills of communicating with customers, to explain that your product price is higher because it has a better value
You should also add the importance of the location of the business. Know your competitors and your neighbourhood so in that way you know what's their most need and want. You shoulf study people well (this is a form of marketing strategy where you also have to specify your target audience or consumers. |
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yousbabtle
Jr. Member
Offline
Activity: 75
Merit: 2
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June 16, 2018, 05:59:55 AM |
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You need to be aware of:
1. Your market (Target Audience)
2. Correct advertising
3. It will take alot of time. Do not expect instant results
4. Do not give up on your ideas
(IF YOU ARE WORKING WITH OTHERS)
5. Know your team INSIDE OUT.
you are correct. besides that, we need to know who is our competitor and how we can give more good services to our customer so our customer will move to our business and buy some product in our store. we need to have a plan and strategy to make our business grow from time to time so we can expand our business to a new level and reach more customer in the future. maybe it will be difficult for the first time, but I think if we keep trying, then we can get success like the others. Regular business is different than bitcoin investment. There are more obstacles in regular business, while bitcoin is very easy way of making good money. There are no extra expenses in bitcoin investment because of Decentralization. If you have extra money and can survive without that money then I think that bitcoin investment is the best option. |
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i_iz_vins
Newbie
Offline
Activity: 107
Merit: 0
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June 17, 2018, 03:26:42 PM |
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1. Do not invest your own money
Since most businesses are risky, seek partners. So, if things do not go all the way, you will not go bankrupt because of the start-up funds, and not pursued debt.
2. Work hard
If you are not willing to work hard, overtime, forget personal gain and health, then entrepreneurship is not for you. At first, you definitely will not be able to pay employees, even if the employees are cheap. So, your employees are your own.
3. Use the latest technology
New technologies such as software and data storage with small companies are able to compete with large companies. Take advantage of low cost technologies on the market.
4. Respect the time
Rate the money in your time, for example Rp20 thousand per hour. This will help when you have to make a decision: If a store charges Rp10 thousand for shipping every week, and it takes you 2 hours to go to the store itself, then pay for the postage from the company, because it is cheaper.
5. Realistic
When creating a business model, look around and look for a successful example of the business model you want, then learn. If you can not find, whether you are an incredible genius, or your business model will not work in the real world.
6. Sell excess, not price
You start a business, you are naturally frustrated marketing it. But, if you compete on the price, you will end up selling at barely or even under capital. Master the skills of communicating with customers, to explain that your product price is higher because it has a better value
I have learned when I was high school that if you want to start a business or become and entrepreneur, you should remember the acronym SMART. Stands for specific, measurable, attainable, realistic and time bound. Before starting a business, you should refer to that acronym and that can become as basis if you are ready to start your new business. |
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Soots
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June 17, 2018, 04:21:34 PM |
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Many people did not have plan or can't apply this characteritics before starting business or anything. Thse characteristics is very useful when you have business or invesment to any ptoject. You can apply this characteristic you can become successful or you will reach your target profit. Better to have also unique startegy to earn more money that you know will works for your business.
I think it should be right timing in the same time and place with the enough funds to be needed. Business is what we all aim for a lifetime source of income. We need to consider the good time and the place weere we want to start our business. Most importantly is know the business you want to have. Ask advice from different people to have some ideas remember many heads are better than one. Lastly checked your funds if its enough to go for business without hassle and can finance the whole project you want to start. |
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Daniel91
Legendary
Offline
Activity: 3374
Merit: 1824
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June 17, 2018, 04:31:29 PM |
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I started real business a whle ago so here is my experience.
First, you must have concrete idea or vision about product or service which can help your clients.
Next step is to check out legal aspect. where to register company, what kind of company etc.
After that, you have to find right people and build good team.
Financing is very important and finally marketing.
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crypto90
Jr. Member
Offline
Activity: 92
Merit: 1
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June 17, 2018, 04:45:15 PM |
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Most of it is true. But the last one isn't really true. It depends on the business and the niche. Also before you start it you'll need to put it all "on paper" make a business plan and do some real financial projection, I honestly recomand that you use real and even pessimistic numbers for the financial projection, be as objective as you can or better yet hire an expert to do it for you and cut the profit numbers he gives you to half to be as pessimistic as you can and see if it is still worth it and what can you do to optimize your profit. There are a lot of financial analysts out there that can really help. Some even over the internet and some aren't that expensive. It does require some work and data gathering (the ones I did took more then you can imagine for small projects). All in all you need to be carefull and be careful especially if you can't aford loosing
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kristineirene
Newbie
Offline
Activity: 126
Merit: 0
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June 24, 2018, 09:43:34 PM |
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1. Do not invest your own money
Since most businesses are risky, seek partners. So, if things do not go all the way, you will not go bankrupt because of the start-up funds, and not pursued debt.
2. Work hard
If you are not willing to work hard, overtime, forget personal gain and health, then entrepreneurship is not for you. At first, you definitely will not be able to pay employees, even if the employees are cheap. So, your employees are your own.
3. Use the latest technology
New technologies such as software and data storage with small companies are able to compete with large companies. Take advantage of low cost technologies on the market.
4. Respect the time
Rate the money in your time, for example Rp20 thousand per hour. This will help when you have to make a decision: If a store charges Rp10 thousand for shipping every week, and it takes you 2 hours to go to the store itself, then pay for the postage from the company, because it is cheaper.
5. Realistic
When creating a business model, look around and look for a successful example of the business model you want, then learn. If you can not find, whether you are an incredible genius, or your business model will not work in the real world.
6. Sell excess, not price
You start a business, you are naturally frustrated marketing it. But, if you compete on the price, you will end up selling at barely or even under capital. Master the skills of communicating with customers, to explain that your product price is higher because it has a better value
Your analysis is very good, it seems this is complete to be a consideration when we invest money. actually a lot of things that we must prepare when investing our money including the risk of analysis. One things to always remember treat the employees like you're own family.Because for having a business is not a easy job there is a lot of things that you need to be considered but you need to start it to have enough funds and patience |
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sepeda karat
Newbie
Offline
Activity: 70
Merit: 0
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June 25, 2018, 03:26:23 AM |
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I think most important things to consider are "your target customers and what you sell."You always make sure that your products you have plan to sell should have customers who will buy it. Also,you should study first if there is a market for it before you begin.
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s2sallbygrace
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June 25, 2018, 04:08:36 AM |
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In starting up a business I think you have to consider your target market. Make some surveys in different places or in social media Before putting up a business plan plan. Think of different ideas, concepts or even ask a family member for some good ideas that might help you in the long run. Most importantly make sure you have the capital for your business, and also consider the location of your business. You can also ask ideas
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mackhoy
Newbie
Offline
Activity: 83
Merit: 0
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June 25, 2018, 04:12:10 AM |
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2. Work hard
If you are not willing to work hard, overtime, forget personal gain and health, then entrepreneurship is not for you. At first, you definitely will not be able to pay employees, even if the employees are cheap. So, your employees are your own.
3. Use the latest technology
New technologies such as software and data storage with small companies are able to compete with large companies. Take advantage of low cost technologies on the market.
5. Realistic
When creating a business model, look around and look for a successful example of the business model you want, then learn. If you can not find, whether you are an incredible genius, or your business model will not work in the real world.
These are the best pointers to consider in starting up a business. I believe that these 3 are the most important and basic step to consider if you will start up a business of your own. Being realistic always creates a real profit over a profitable plan, it makes sense anyway. Would like to try those in starting up a business by the way and see how it will help me in creating a success. |
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Pattart
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June 25, 2018, 05:12:08 AM |
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You need to be aware of:
1. Your market (Target Audience)
2. Correct advertising
3. It will take alot of time. Do not expect instant results
4. Do not give up on your ideas
(IF YOU ARE WORKING WITH OTHERS)
5. Know your team INSIDE OUT.
you are correct. besides that, we need to know who is our competitor and how we can give more good services to our customer so our customer will move to our business and buy some product in our store. we need to have a plan and strategy to make our business grow from time to time so we can expand our business to a new level and reach more customer in the future. maybe it will be difficult for the first time, but I think if we keep trying, then we can get success like the others. Your tips are really very build mate. yeah what you mentioned above is highly recommended to do. and you're right is usually the most difficult is at the beginning how to grow your business in order to grow and progress. you must have the unyielding, patient and hard-working nature |
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BitProCoin
Member
Offline
Activity: 238
Merit: 10
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June 25, 2018, 05:54:01 AM |
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Regarding the price aspect, I do not think that you can really convince a customer to pay more than average price these days. There is so much competition and people are ready to provide same service for cheaper.
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The_Dark_Knight
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June 25, 2018, 07:06:47 AM |
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1. Do not invest your own money
Since most businesses are risky, seek partners. So, if things do not go all the way, you will not go bankrupt because of the start-up funds, and not pursued debt.
2. Work hard
If you are not willing to work hard, overtime, forget personal gain and health, then entrepreneurship is not for you. At first, you definitely will not be able to pay employees, even if the employees are cheap. So, your employees are your own.
3. Use the latest technology
New technologies such as software and data storage with small companies are able to compete with large companies. Take advantage of low cost technologies on the market.
4. Respect the time
Rate the money in your time, for example Rp20 thousand per hour. This will help when you have to make a decision: If a store charges Rp10 thousand for shipping every week, and it takes you 2 hours to go to the store itself, then pay for the postage from the company, because it is cheaper.
5. Realistic
When creating a business model, look around and look for a successful example of the business model you want, then learn. If you can not find, whether you are an incredible genius, or your business model will not work in the real world.
6. Sell excess, not price
You start a business, you are naturally frustrated marketing it. But, if you compete on the price, you will end up selling at barely or even under capital. Master the skills of communicating with customers, to explain that your product price is higher because it has a better value
Your first point is not possible most of the time, after all if you want to invest the money of other people then you need to prove that you are the kind of people they can trust with their money and that you can multiply their money as well, and if you have no experience doing that no one is going to give you their money, so at least when you are starting out your journey as a businessman you have no option but to use your own money. |
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Limar0
Newbie
Offline
Activity: 154
Merit: 0
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June 25, 2018, 08:32:06 AM |
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A lot of things are to be consider in starting a business.One of those is what type of business you are creating,is it in demand or not?Second is your location of choice whether it is accessible or not.And finally is how much capital you will be needing to start a business.
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SirEGB
Member
Offline
Activity: 142
Merit: 10
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June 25, 2018, 08:55:26 AM |
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The most sweetest thing one can start a business is having it financed from a money that is acquired for free. What i am trying to imply is that since bounty campaign can make you earn bitcoin for free through your bounty token rewards, then you can already have a capital for you to start a business. So when you have already the money, planning and having a business plan is already essential.
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Daniel91
Legendary
Offline
Activity: 3374
Merit: 1824
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June 25, 2018, 09:02:00 AM |
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From my own experience, before you start your own business, you have to consider several factors:
1. If demand for your product or service exist.
2. Clear idea and plan.
3. Finance
4. Market
5. Programing, technical work etc.
6. Legal matters
It's very difficult to start and run successful business.
I heard that maybe one third of new businesses collapse in first year.
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