Which business profit model do you prefer?

[Rruchi man]

I've been giving this a lot of thought lately, Which kind of  business model would you prefer, will you prefer the kind of business where profit can be  from both the rich and poor, that is huge profits occasionally and small profits daily?

 Or the the sort that only attends to the rich, and the poor cannot afford it, that is your profit is from the rich alone and usually huge, and comes occasionally?
Please give reasons for your choice

[1714503556]

1714503556

[1714503556]

1714503556

[1714503556]

1714503556

[1714503556]

1714503556

[maju69]

I've been giving this a lot of thought lately, Which kind of  business model would you prefer, will you prefer the kind of business where profit can be  from both the rich and poor, that is huge profits occasionally and small profits daily?

 Or the the sort that only attends to the rich, and the poor cannot afford it, that is your profit is from the rich alone and usually huge, and comes occasionally?
Please give reasons for your choice

In the business world there will be ups and downs, as you say. But if you ask about it, I'd choose a consistent business. Where the business that I do reaches all, and of course has a long-term income. Not sometimes there, sometimes not. It's fine for me to make a small profit as long as it's continuous.

[Fortify]

I've been giving this a lot of thought lately, Which kind of  business model would you prefer, will you prefer the kind of business where profit can be  from both the rich and poor, that is huge profits occasionally and small profits daily?

 Or the the sort that only attends to the rich, and the poor cannot afford it, that is your profit is from the rich alone and usually huge, and comes occasionally?
Please give reasons for your choice

The second type of business (selling expensive items to the rich) tends to require a different kind of knowledge and sales pitch. It requires more salesmanship and higher quality goods, so it can be harder for someone starting out to achieve. It is much easier to start a business model where you can sell to anyone and covering a large range of prices, you can even pitch different grades of product as your budget allows. If there is ever a problem with your products and you've only targeted rich people, if that bad message spreads you could find it impossible to recover because you've priced yourself out of the market. It really depends on the product type you're selling though - a generic warehouse will find much easier business than a specialized suit company.

[Coyster]

Please give reasons for your choice

It all depends on what you sell, and most importantly, Capital. what you sell determines who your customers will be, for example if you deal on gold wristwatches, your customers would definitely not be average people who can barely handle their daily needs, people who would patronize you would be individuals that are fairly very comfortable and somewhat rich. Then if for example you sell groceries, then your customers will cut across both the rich and the average cause it's an essential commodity that everyone needs.

Having said that, my point is, not everyone can afford to start a business that requires huge amount of capital, thus if you don't have that much capital, it's better to go for something that doesn't require too much money, but on the other hand will be sought-after by both the rich, average and the poor.

[Mauser]

Please give reasons for your choice

I prefer the business model that focuses on all customers and not only on the rich. Focusing only on a particular group of people has some drawbacks, like you always need to stay ahead of the market. If the rich people don't like your product anymore you are screwed, there is no real alternativ. As for other strategy it's much better, if the rich don't like it anymore you can still sell it to the poor and average people. Also why not just make two variants of the same type of product. You  could make one look more expensive and sell it to the rich and the other one to the poor. Same product, just two different marketing campaigns and two different prices.

[mindrust]

You should already be rich, to be able to afford rich customers.

A very quick example; Let's say you are a Rolex dealer. Obviously, your customers will be very rich people. But can everybody become a Rolex dealer? No.

Selling junk to small people is tiring af and you are not a robot. So if you have a choice, (sounds like you got one) then get them rich customers. Screw the broke street scums. The less you interact with people the better it is.

[YOSHIE]

China is known to the world in the trading business, generally buying / selling, one principle they pursue in business, (small profit, but routine all the time), if you ask me personally obviously I choose small profit, this is outside crypto.

The reason is simple:
• In business if you sell a product at a high price and make a big profit, of course people will buy it only once, so your product turns in slow (expensive) buying and selling.
• In the business of buying and selling for small profits, the rotation of your product is fast, your business will grow in minutes, hours or per day, automatically your products are selling well because (cheap).

with a small profit taking business, your economy is growing fast, instead of selling a big profit business one month one product sold.

[cheezcarls]

I've been giving this a lot of thought lately, Which kind of  business model would you prefer, will you prefer the kind of business where profit can be  from both the rich and poor, that is huge profits occasionally and small profits daily?

 Or the the sort that only attends to the rich, and the poor cannot afford it, that is your profit is from the rich alone and usually huge, and comes occasionally?
Please give reasons for your choice

If I were to start my own business, it should be very consistent like it can sustain no matter if we are under pandemic, or the technology and adoption advancement (e.g., e-commerce, online shopping, etc.) and unsaturated in customers’ demands (e.g., video games, health and essential products, etc.).

Traditional businesses nowadays aren’t prepared for the pandemic, that’s why most of them got shut down or not lasting long because of government’s restrictions in containing the virus or just simply having more losses than revenue at this state.

[Wexnident]

I'd probably go for both markets? I mean if it was possible, I'd go for both. It's a very niche market imo, though you'd probably have some issues with trying to serve a LOT of customers, but well if you're at the top of the chain, you'd hardly have any problems later on. Having a market for the rich requires you to be rich yourself, so it's going to be pretty hard to actually start it out if you aren't, well, rich. But if you are, both options are pretty plausible imo, though the rich market would probably be easier to set up your business in.

[Bttzed03]

Ideally, I like to make big money with less effort. Who doesn't? With that said, I prefer one time - big time kind of sales. The reality is different though. Selling luxuries and retail items to respective customers both require skills and effort. The main difference between the two is the capital - you can start a retail business selling items for cheap to a wide audience.

[Findingnemo]

I've been giving this a lot of thought lately, Which kind of  business model would you prefer, will you prefer the kind of business where profit can be  from both the rich and poor, that is huge profits occasionally and small profits daily?

 Or the the sort that only attends to the rich, and the poor cannot afford it, that is your profit is from the rich alone and usually huge, and comes occasionally?
Please give reasons for your choice

More the customers then more the profits as well so its good to start the business which targets all kind of people from rich to poor and kids to adults.

Also it really depends on what kind of business, its not really get exposure with new start up of an existing business module.

[Hypnosis00]

I think the food business industry is one of the most profitable businesses right now. I don't see a losing chance if we can manage this perfectly or at least. Yes, of course, this can't be easy work for the owners and it certainly needs focus and aggressiveness as this only be the way to help it succeed.

Ideally, I like to make big money with less effort. Who doesn't? With that said, I prefer one time - big time kind of sales. The reality is different though. Selling luxuries and retail items to respective customers both require skills and effort. The main difference between the two is the capital - you can start a retail business selling items for cheap to a wide audience.

You've just be kidding mam...but I'd love to see how an instant can be in reality. But unfortunately not, that seems impossible in crypto and even in another business platform unless we run an illegal business.

[naira]

I've been giving this a lot of thought lately, Which kind of  business model would you prefer, will you prefer the kind of business where profit can be  from both the rich and poor, that is huge profits occasionally and small profits daily?

 Or the the sort that only attends to the rich, and the poor cannot afford it, that is your profit is from the rich alone and usually huge, and comes occasionally?
Please give reasons for your choice

For me personally, a business that can run in the long term and can employ people around me. Regardless of the type or name of the business, in general, the business sector that is built must be in accordance with the strategy where we are and utilize the available resources to be continuously updated. Because of that, businesses using a prolonged method will be better at supporting daily needs, especially the people we employ. Especially when this pandemic has taken many people's jobs, I am very happy because it has opened jobs for them. Even though his monthly income is still below the Reginal Minimum Wage salary.

[bitzizzix]

It all depends on the person because any business knows neither rich nor poor, and as long as there is a will and a search for ways, you are sure to find a business that fits your circumstances.
because there are some of my friends whose condition can be said to be poor and are currently not poor anymore since becoming a courier or any delivery service which in my opinion is a promising business during the pandemic so they can buy their own goods to sell and send to buyers with two advantages, namely the profit from goods and delivery services.

[Husires]

The law of supply and demand is the ruler, but you look at the wrong part of supply and demand. What you are looking at is a small part of the whole market, and therefore it does not matter the amount of supply and demand inside the platform if it is possible to deposit and withdraw quickly.

For example, if the price rises in many platforms, the price will start to rise in other platforms because they have a future view of the price, and if the price does not rise, the demand will increase because the price of Bitcoin here is cheaper and it will be an opportunity to make some profit for trading between platforms.

Speed of updating orders, buying and selling orders and withdrawing from the platform will reduce manipulation.

[teosanru]

I've been giving this a lot of thought lately, Which kind of  business model would you prefer, will you prefer the kind of business where profit can be  from both the rich and poor, that is huge profits occasionally and small profits daily?

 Or the the sort that only attends to the rich, and the poor cannot afford it, that is your profit is from the rich alone and usually huge, and comes occasionally?
Please give reasons for your choice

To be honest when I am doing a business I won't really think about differentiation between the rich and the poor. I think in business all you have to think about is your profitability, your margins, thing is different pricing for two different people is a bad idea because then the rich would eventually stop buying your product. I think if you really want to help the poor then do charity outside your business but don't make your business a charity in itself.

[Juse14]

If we talk about it, I will definitely choose a large and prolonged profit. But we can't just get that desire, there needs to be a process. So in the process, it must start with something small first. We can not immediately reach something big without something interesting to offer in the business that we run. I will reach from the smallest first, after what we give makes them satisfied, I think something big will also follow by itself.

[Mometaskers]

I've been giving this a lot of thought lately, Which kind of  business model would you prefer, will you prefer the kind of business where profit can be  from both the rich and poor, that is huge profits occasionally and small profits daily?

 Or the the sort that only attends to the rich, and the poor cannot afford it, that is your profit is from the rich alone and usually huge, and comes occasionally?
Please give reasons for your choice

Depends on the product really. I would prefer both since they tend to have different cycles so there's always money for me but that would be hard to do, better to focus on one.

Also, if you want to try to make money out of both, you'd probably have to make them separate businesses. The rich don't exactly like the idea that poorer folks also use the product/service they use. They find that revolting LOL.

I'd like to have a rich clientele but I don't think I have any skill or product for them so I'd probably end up with a more "mass" market business instead.

To be honest when I am doing a business I won't really think about differentiation between the rich and the poor. I think in business all you have to think about is your profitability, your margins, thing is different pricing for two different people is a bad idea because then the rich would eventually stop buying your product. I think if you really want to help the poor then do charity outside your business but don't make your business a charity in itself.

I don't think OP is talking about discriminatory pricing but asking whether which would be our preferred target market.

[kryptqnick]

I like a socially responsible business model. The one that cares about ecological impact and about vulnerable people, the one that gets profits but is also good for the local community (not tending only to the rich but having initiatives to help the poor). I think this is the way, a perfect balance of capitalism with socialism. This way the profits are justified and everyone's winning. It's possible and it's done on some level by some businesses. I hope there will be more like that in the future.

[jossiel]

I apply the logic selling of the Chinese people.

They don't mind whatever is the status of your life, whether you're rich or poor as long as you're adding to their sale. In some cases, it really depends on the product you're selling.

But if I'm a businessman, I'll choose those products that are affordable so that everyone can avail that. There are those businesses that have luxurious products and they have the target market only for the rich.