Act as a Business Consultant and Provide Counsel on this Issue

[FUCKBSVFUCK]

Fishery is a well-known and well-financed business. She doesn't have a lot of money to start with, but she has a lot of experience and knowledge about the business. She has an eye for detail and knows how to deal with the customer's needs. She is known for her skill and knowledge in the field of forex trading. She has a good track record of working with small and medium-sized businesses. She has a good management team and a good product management team. She has a good customer support team. reputation in the industry. She has a good

[MarjorieZimmermanGinger]

There are two problems faced by people who come to you and if he wants to continue the business, what steps should he take? And make sure he has made the right studies, so that the business he is running will not be in vain and will provide opportunities to continue to improve to a better financial level.

1. Experience
For this problem he can study before starting a business, because in my opinion the fish farming business is not too difficult to learn and currently there are many places where he can go to learn how to fatten, provide fish feed and medicine, because what I you know fish farming is also the same as the business of fattening chickens, goats and cattle, although the way it works is slightly different.

2. Funding
Financial issues are a little more sensitive to discuss, especially when the economy is unstable. My advice is to avoid loans that have large interest rates such as loans from banks or other places, it's a good idea to try to find capital loans from the closest people, be it family or relatives.

In conclusion
If indeed he has done research and has made a plan for the business, then he can take a loan as I suggest because the monthly burden will be slightly lighter than a loan from the bank. But most importantly he has carefully considered the business he will run.

Starting from production costs to the sales stage when the harvest arrives, because if no one wants to accommodate the harvest it is feared that it will be difficult to market the harvest. In the end, he will have difficulty paying off the loan and will make it difficult for the business he is running, because he cannot take out the crops and there is no place to accommodate them.

[Rruchi man]

lack of experience may cause the business to fail ?

As much as Lack of experience can be a factor that can lead to failure in business, it should also not be something that should discourage you not to start the business at all. since you've already mentioned that she has another source of income, it is also possible that she gets to employ people that have the experience in this business and she can learn under them for a while and get experience before she can run it on her own.

Multiple sources of income is always advised, she is trying to increase her source of income, and that is good. Lack of experience should not discourage her.

[Flexystar]

A client comes to me with a potential business idea - Fishery. She has conducted her market research. It is a viable business. She has written down her business plan and the rest of them. Here is are the main issues:-

a) Experience - She lacks the experience in fishery. All she knows about the potential business is hearsay, her research both online and offline, and the Facebook groups she joined. She claims she's going to have a guide from a friend who has done the business in the past.

b) Funding -  She has no funding or rather, she has less than 10% of the funds needed to kick-start the business. She is therefore considering debt financing.

Furthermore, according to her, this is going to be a side-hustle for the main time as he already has a job that brings in income every one. When I quizzed her on how she intends to pay the debts she said from her main job.

I want you to act as a financial analyst and provide advice to her. Should she go ahead with the business, since she said it is serving as a side hustle or should she not even venture into it considering that she has no experience and even though she may be able to pay off the debt from her main job, her lack of experience may cause the business to fail ?

I think she does not have clear thoughts about this. Business is something that can not be taken for granted just like that. It's effort, funds, roadmap, and most importantly at least a prior experience of the field in which one is going to invest.

You can't just do business in anything without experience. Many of them will say nah it doesn't work like that. You get the experience as you grow the business. That kind of motivation is really fine but in her case, she does not have funds which means she will either take the big loan or may mortgage something big (like a house, property, etc) which won't be good. In this scenario, it would be terrifying for her if she loses her business with time.

Things will escalate to complicated financials and may end up with unwanted debts.

It's far better to consult with accountant first locally. Have clear path of the whole thing.

[Zlantann]

I want you to act as a financial analyst and provide advice to her. Should she go ahead with the business, since she said it is serving as a side hustle or should she not even venture into it considering that she has no experience and even though she may be able to pay off the debt from her main job, her lack of experience may cause the business to fail ?

The business will collapse within a few months or years. Agriculture businesses need a lot of experience because you are dealing with living things. Any mistake can lead to the death of the fish which will lead to fatal loss. Maybe she wants to learn on the job but the cost is usually high. She has to employ the services of an experienced farm manager to monitor the fish or the business will close down.

Fish farming is highly risky so using a loan to finance the project might have negative consequences if something goes wrong. The worst part of it is that she lacks knowledge about farm management and the fish business. So she will just be experimenting with a loan.

Unless she employs a reliable farm manager the farm will not be productive. Fish farming needs a lot of attention, especially at the tender stage. The farm needs constant monitoring so fish farming might not be a right side hustle.

If she feels she can afford to pay the loan with her income, then it could be a platform for her to learn about the business. But I guess that the business will not be successful from what OP has explained.

[siniminomorocomunisakito]

I want you to act as a financial analyst and provide advice to her. Should she go ahead with the business, since she said it is serving as a side hustle or should she not even venture into it considering that she has no experience and even though she may be able to pay off the debt from her main job, her lack of experience may cause the business to fail ?

My advice is to approach fishing business ideas with caution, given the lack of experience and potential risks associated with debt financing and I think it is important here to gain more knowledge about the industry and seek expert advice before proceeding and alternatively, wait for more favorable conditions. is probably the best choice.

[slapper]

I want you to act as a financial analyst and provide advice to her. Should she go ahead with the business, since she said it is serving as a side hustle or should she not even venture into it considering that she has no experience and even though she may be able to pay off the debt from her main job, her lack of experience may cause the business to fail ?

The business will collapse within a few months or years. Agriculture businesses need a lot of experience because you are dealing with living things. Any mistake can lead to the death of the fish which will lead to fatal loss. Maybe she wants to learn on the job but the cost is usually high. She has to employ the services of an experienced farm manager to monitor the fish or the business will close down.

Fish farming is highly risky so using a loan to finance the project might have negative consequences if something goes wrong. The worst part of it is that she lacks knowledge about farm management and the fish business. So she will just be experimenting with a loan.

Unless she employs a reliable farm manager the farm will not be productive. Fish farming needs a lot of attention, especially at the tender stage. The farm needs constant monitoring so fish farming might not be a right side hustle.

If she feels she can afford to pay the loan with her income, then it could be a platform for her to learn about the business. But I guess that the business will not be successful from what OP has explained.

One of the doubters has arrived! Agriculture and fish farming are both high-risk activities, yet they need not end in disaster. Anyone can win in this world as long as they have the right information, skills, and support. Risks? All OK, but name one worthwhile endeavor that doesn't include any danger. How about the benefits? Possibly quite large. Our chum has the tenacity and potential to establish a successful business. Naturally, you should use caution when handling money and make wise decisions. But there's no reason for failure if everything is planned and managed well. So, hold off on giving up on them just yet

[Baoo]

To begin with, the first main issues you have mentioned is common  in a lot business owners or CEOs specifically the new ones, they would like to achieve success without knowledge, skills and the ability to leadership and manage the business. Regarding lack of funds, that would not be an obstacle unless your  business does not have the potential to succeed, for example you could  prepare a professional pitch deck, it is a necessary tool to attract investors, partners and sponsors. Furthermore, hesitation in starting a business may have a negative impact on the result. You must take your time by making researches , analyzing your competitors and add a value on your project, something they don’t have.