Building a prosperous business

[AmoreJaz]

From what I have seen so far in the crypto world, or any other world for that matter, loving what you do is always the key point to this. I am not saying that it is not going to be a big deal, of course it is going to be a big deal, but it is going to be a bit different in the end.

I feel like there is some type of situation where it is going to be a bit different situation and we should be considering that as a big deal. Like if you really really really love your job, then you are going to probably make money, or at least even if you don't, you are going to be happier than anyone. I know a painter who paints for houses to hang it up, like regular paintings, but he does it on commission based, and he makes very little money and yet he is one of the happiest persons I know.

if you are already financially stable, you will be happy to pursue your passion. however, if you are stilly trying to make both ends meet, you will be practical on things. your passion will just be secondary in this case.
i admire those people who will still pursue their passion even if they barely have decent meal on their table. but that's just personal choices.

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[Razmirraz]

It looks funny when someone can't walk teach others how to walk properly. I don't think Op is a successful businessman, what is written is a combination generated from ideas obtained from related sources. The post you made seems boring to anyone who reads it, there is no attachment to something as valuable as your experience starting a business from 0 to reaching a level of success. Theory alone is not enough to make the explanations that you have produced attractive in Op, it needs to be complemented by the practice that you have been running so far.

[Asuspawer09]

Most beginners in starting a business would probably choose a business that is on a trend since they think that if they copy other businesses they might get the same success, I mean it might actually work but most of the time it wasn't go as planned, I see a lot of business owners who try to start a coffee shop because it's kinda trendy here on my country everywhere you go you could probably find a small coffee shop business, you could probably try to learn it but it if you're not good at it it's better to find other business that will work for you, I learn that you should create a business on your field or where your good at, like for example if your good at cooking at stuff the most obvious business is a restaurant something like that. If you are good at graphics or something like that you could start a printing shop because that is just what you are good at you could put your time into that and for sure it's going to be a great business because you're already good at it and you know what you doing. You have a point we need to plan everything not just the goal of creating money.

[Sexylizzy2813]

Having a business that would go a long way doesn't mean you just have to start it up without the financial ability to get the business going. Quite alright you have a business to start up and you're ready to go, but you don't expect it to always go positive at first. There are some challenges that would pop up and your financial strength would be needed to support it if not you're going down with the business. Ones you devote your time in the business always remember that those sacrifices are part of the responsibilities you need to face before you can succeed.

[dothebeats]

Op need not post the content of the whole article he just has to extract a part of the article and then make a reference to the article

This reminds me of those finance youtubers and influencers, who actually get rich by selling you a course on how to get rich, they weren't rich before.

This is so popular in social media, especially on Tiktok and Youtube, there is a big demand for courses about how to get rich if we check these influencers they have many followers and they have many shares and likes, they are making money from teaching money how to get rich this is probably the best way to get rich, you do not only get rich and you've also become popular.

I have noticed this as well. They somehow found a way to earn just by sharing a few tips here and there. What is funny is some of these influencers doesn't even have any actual background in doing and handling any business. Really smart tho, their strategy works and as long as they keep their audience engaged and interested then it will keep working for them.

[uswa56]

I have noticed this as well. They somehow found a way to earn just by sharing a few tips here and there. What is funny is some of these influencers doesn't even have any actual background in doing and handling any business. Really smart tho, their strategy works and as long as they keep their audience engaged and interested then it will keep working for them.

In fact, being able to attract the audience to pay attention to them even in some content is a success that is not easy to get, even though the content of the content is not fully controlled by the influencer.
But it's undeniable that the current digital era is quite promising in a number of ways, including creator content that can attract a lot of enthusiasts. I think this is inseparable from technological sophistication and can be accessed by almost all people today.

[adiksau0414]

Im not a business minded person, i dont have the talent of selling or anything else about business. But i am eager to learn cause i want to establish something that i can call my own. I don't want to stay to an average salary job, i want to be stable. This maight be helpful with the touch of luck and determination.

[Cookdata]

Reference: https://articles.bplans.com/14-tips-for-starting-a-successful-business/

The original author did great work but you did a jargon copy and paste, the author has passed his message, you should have read the article deeply and passed what you understand about the context of the article and not paste every text on the forum, with that it will help summarize original contents without plagiarism even when I see that you included the link not intending to be the original publisher but explaining it on your own terms would've made it engaging than the original content, that been said.

All business have their challenges regardless of how you give tips to make them successful, you will certainly come across some difficulty but experience and competency is what helps to bridge those wall, you may even give good tips here and you may find out that it will not be similar to real-life sense because of environmental differences, the type of economy and the government that rule where your business is operating, good points you highlighted though.

[Mario Yamasaki]

Building a business is something that will make our descendants get many benefits, if we have a long term business vision then we must build it with honesty, unfortunately most people only focus on profit so the business cannot last long.

[puloweh555]

🗝️🗝️Have enough cash on hand🗝️🗝️
Cash is crucial for every business. Without it, you can’t cover your expenses, handle a financial crisis, or grow sustainably. Avoid starting your business with a loan. It doesn't look healthy for a new business. A business can look good on paper without actually being healthy. If cash is on loan, then how do you pay back when business isn't bring good profit at start.

Agree, starting a business, try not to take loans because this is not good for future business. Very many of us want to start a business but we always think about how to get big capital. looking for big capital to rent a place, looking for big capital to buy equipment. I think the most important thing is that we have to change the mindset like that, we don't need to have big capital, but how do we use small capital to be able to make a profit? Because with the small capital that we have, we will focus on what we have to be able to get profits little by little. Because for me it is not the biggest capital to build a prosperous business. Of course, it must also be accompanied by the points conveyed by Op.

If we can profit from very small capital, then our business can grow over time, and capital can be rotated again and again. Because the important capital is profit.

Theory alone is not enough to make the explanations that you have produced attractive in Op, it needs to be complemented by the practice that you have been running so far.

Agreed, when it comes to theory, everything is very easy, but when it comes to practice, it's not necessarily easy.

[AnonBitCoiner]

🗝️🗝️Don’t quit your day job🗝️🗝️
It isn't a good idea quitting ones job when establishing a business. Instead, start your business off as a side hustle. Do the groundwork of researching and testing while you still have the income to support yourself. If it takes off, look at what financial milestones you need to hit in order to go full-time. If you find that you have the financial runway to go full-time immediately and are willing to take on more of a risk, go for it. Just be sure that you have a backup plan if your business idea fails to gain traction.

Yes exactly if you are establishing a businesses then try to continue your job too because business can be handled as a part time job and there are also online business which does not need to go for work but you can continue it at a same time when you are doing your actual job.

Sometimes businesses does not allow passive income therefore if you unfortunately leave that business then you will already have job that will give you passive income. At the same time you will find another business which will be suitable for you or you will work to eliminate the things responsible for your failure in business.

[Yatsan]

With reagrds to quitting your job; it would be fine as long as you can sustain your daily expenses using your savings. You may create a period perhaps 12 months of your monthly salary should be the amount of your savings before you do so. One reason or advantage of quitting your job is to be able to focus to your business. No successful business have been taken lightly especially on its early stage. You need to build it foundation which is why you need to exert 100% of your effort into it. Sometimes it would work having a job and a business at the same time but expect that you would be spending more given that you'd be hiring someone to do it for yoy, or simply choose to embraace burnout by pushing too much of your daily energy;you decide.

[Unbunplease]

With reagrds to quitting your job; it would be fine as long as you can sustain your daily expenses using your savings. You may create a period perhaps 12 months of your monthly salary should be the amount of your savings before you do so. One reason or advantage of quitting your job is to be able to focus to your business. No successful business have been taken lightly especially on its early stage. You need to build it foundation which is why you need to exert 100% of your effort into it. Sometimes it would work having a job and a business at the same time but expect that you would be spending more given that you'd be hiring someone to do it for yoy, or simply choose to embraace burnout by pushing too much of your daily energy;you decide.

If you are thinking of starting your own business, it is advisable to work as a manager, make connections and attract clients. Then you can start your business. Starting a business from scratch is virtually impossible today because of the huge competition in any field of activity

[serjent05]

Creating a business is not a simple thing but I believe we should not complicate things too much if we are planning to set up a small store.  Just knowing that we have enough funds to open the store is enough.  Besides creating such business is not intended to solve the national or global crisis.  It is just intended to solve the neighborhood's access to some food and beverages.

I agree that if we have our stable job, it is unwise to quit it just to focus on this small venture but if our business has grown enough that it even gives us a steady 2x or more of our job pay, then I think it is time to think of a change of career and focused on our growing business.

[Adbitco]

OP, you could just link to the article where you got all your ideas from. Why decorate your post if you do not own your own experience?
I see your effort, but apart from the fact that you simply paraphrased with the addition of the source, you could not tell anything about yourself. In fact, without experience, you are just an amateur talking about theory.
But, yes, my family has a small rental business in my area. Partners have found excellent suppliers who supply them with a wide variety of bakery products, and since our store is located next to a residential area, it is convenient for residents. But I would not call it big business, since taxation works far from favoring the seller.

Op is working on the words that often says "be creative or make a constructive post" I didn't even expect this from op bases on the fact he would have only posted the conclusion of the article and then create a room for questions maybe the link would had made people to constantly click on it for them to read the full details of what that content is conveying.


However, I am replying this post based on your conclusion since the conclusion is a summary of what the body of content is saying; At some point we often understand that we must venture into business with the mindset of maybe your friend is running such a business making serious profits and you think is something you too can also handle. Let me speak it louder and clearly there is what we called a dreamed business and dreamed job, these things are what people don't usually understand and get it right that is why today many business has folder up because of the taste for money.

Like I said
A dream job is something you have been wishing to start up not because it's lucrative or they pays higher than any other sectors today but you found it pleasing and willing, suitable to operate in that field because it's somehow a kind of task or job you like right from your kid days so you had it in mind to start operating in that same field when you might have finished your educations. This kind of job you don't find it stressful, rather you are always happy doing it not because the pay is huge enough for you.

Same as the dreamed business, though I won't spend much time explaining it as it's just same as what I have explained above.
Dream business is a business you've always been seeing yourself establishing and at some point you feels whatever that made you ventured into it you find yourself like the world richest man having it in mind that it's an in-depth love, whatever that made you venture into it there's every possibilities that you will Excel because you aren't going into such business because of money but it because the passion you or they had for it. At first there must be passion then comes problems solving. Because you can't render a solution without having to love (Zeal) for such business which would likely made you to fold up because there's no love. For a successful business to stand passion and problems solving is the utmost priority.

[Captain Corporate]

Most people I know that built a very successful business had 3 things in common and those three things will always be the case no matter who you look into, doesn't matter if its the richest person you know, or if its just a grocery shop around the corner. First of all they were ready to take a risk, a lot of people looking for investors for their idea because they are afraid of taking a loan, go to a bank and get the highest amount of money you can, if you can't then you shouldn't even try to start a business, that would be important part, and if you can that's your capital, start something that fits that budget. Secondly they were really hard working, and I do not mean like a regular amount of hard work, its not like studying for a quiz, I mean literally working 18 hours a day but not just sitting in front of a PC, actually doing work non stop. Lastly, having people who can fill the places that you can't, this is not a must for some business ideas, but its good to have. If you can't do every part of a job, having someone else do it for you is great.

[icalical]

👉👉POS was introduced to help banking sector reduce bank queue arising from people who want to make deposit and withdraw.

👉👉Solar system was introduced has well to reduce the cost of fuelling your generator to get power supply.

These just like your first point and these are very wrong or maybe weird thing to say. POS is never about Bank or people making deposit and withdrawal, it's initially made to fasten the restaurant and retail payment proccess. And the SOLAR SYSTEM is as we know it, it's already exist even before humanity.
Tho your point after that was valid and kinda make sense nothing weird, but with those two point I mentioned above I don't think you quiet understand what you are writing here.

[gunhell16]

As for me, from my experience, I can't deny that it is difficult to manage a business, because you will really spend time, physical effort, and when it comes to capital, even if the investment is small, if you know how to circulate money in the business, you will definitely be able to grow it. .

And the most difficult thing is that establishing a customer page is actually not easy, and once you can establish the customer and maintain the quality service and quality of the goods of the business, for sure the regular customers will come to your business first.

[jaberwock]

starting a business, try not to take loans because this is not good for future business. Very many of us want to start a business but we always think about how to get big capital. looking for big capital to rent a place, looking for big capital to buy equipment. I think the most important thing is that we have to change the mindset like that, we don't need to have big capital, but how do we use small capital to be able to make a profit? Because with the small capital that we have, we will focus on what we have to be able to get profits little by little. Because for me it is not the biggest capital to build a prosperous business. Of course, it must also be accompanied by the points conveyed by Op.

That's only if you start a brick and mortar business, like one that is either a shop or an office, because that's how it works. But when we are talking about a situation like online business, then you are not going to need much, I could probably start the first VIP under 100 dollars if you know what you want to do. A friend of mine started a dropshipping business, I know it's a cliche, for just 200 dollars, and they handled every time from start to finish within that much money.

All in all I think if you live in 2023, you shouldn't look to start a shop right away, not as a business idea, sure if you personally want that then that's fine, aim should be starting a cafe, aim shouldn't be becoming rich, if that's your aim then online is better.

[Mame89]

Building a successful business certainly requires a lot to learn and of course action is very important, a good roadmap without the right action will not produce anything. What the OP said is good, but without strong determination and belief, the business will not work as it should. then from the need for stages in building a business and building a brand in the business. I am not experienced in business but my brother owns a business and I learned a lot about business with him. The knowledge that I got is as follows when building a business:

stage 1 :
1. Market survey
2. Look for supply agents if product-based, Look for organizational relationships if service-based.
3. Prepare Capital (products), Prepare mentality and skills (services)
4. Build relationships if retail marketing, Land, or places that are easily accessible if services or wholesale.

stage 2 :
1. Bookkeeping/manual/computerization.
2. Management of stock, sales, and profits.
3. Monitoring.

stage 3:
1. Increase the market.
2. Market development.
3. Sales development.

stage 4:
1. Competitor self-defense.
2. Prizes.
3. Dividend yield and profit.
4. Join the new market model.

Stage 5: DIGITAL MARKETING.