Building a prosperous business

[isaac_clarke22]

Learning is a continuous process. No one knows everything. If you think I'm an amateur, all well and good but all I know is I have been using these tips for my agro- business and it has been working well for me. Although is a small farm but I plan to grow big one day.

Quite a long article you just gathered your sources from, I am curious though OP on how specifically these apply to your "small farm" business. The real reason you're building business is purely to create money/profit unless you are a non-profit organization which rely on things like donations.

There were some of coffee shops in here that serves great, but even though they're "passionate about their business ideas", they still didn't make it. There ain't even Starbucks around here that surely will crush those small businesses. Sometimes it will kinda suck for everyone to just build business and it's not for everyone to be honest.

Network also comes into play. Someone's gotta put your business into your audiences to try it out.

Try to be up to date with what goes on in your industry. We know how the world changes regularly and if you're stuck on something others have moved past it might affect the growth of your business. It doesn't matter the industry you are in, be updated.

I can imagine that this might be a disadvantage to some food stalls out there since they usually just sell or make a specific food with just a little variation. Some shawarma business out here just closed down due to people being sick of the same taste over and over.

[1715251800]

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[khiholangkang]

I agree, those that are into investing should have other support so that if ever their made investment will fail, there's another source which it can help to survive. That's how you do investment so that if you've got an investment that you're believing and it's not doing good and needs some refinancing, you've got its back through your other business/investment.

This might be a good strategy to have active income to meet basic needs, and to be a back up fund when you encounter a failure, but when it comes to investment I don't understand what assumptions I should classify in this side income, because it certainly requires investment with a certain amount of funds. which is great for earning an income that can cover this need.

You only cover the other business or investment you have from your other source when that other is profitable. Of course, you'll have to support it with your other source that's been prosperous as well. But if you're going to support it with another bankrupt or losing investment or business then that doesn't make sense to support the business that you're establishing.

I understand why we don't agree in this case because you may be position oriented the person already has an investment amount that can cover he needs, and I think the position of the person you are referring to has a lot of funds in his investment which gives him income, then opens a new business with results from the investment, the thought is certainly worthy of the case you describe friends, and the people I mean are those who have hard jobs who want to open a new business for him to build from scratch.

And it would be nice if you already get income from the business you open, even if it's small, if the position has a side job, it's better to stop and focus on the business you're building so you can concentrate more.

You have to make profit from any business that you open. But if you're starting out with that new business of yours, much better not to expect a lot from it because you're still trying to take some tests and taste of the business that you've just built. Most likely that it's not going to do well.

I think it will make the development of a business that already has even a little income, it will be slow if you still have work that takes up your time, it will break your focus, but this depends on the business you actually take.

[Minecache]

I can tell you that owning your own business feels amazing. I know it because I own a business which prints money. It gets tiresome sometimes but at the end of the day nothing beats it when I pop a cold beer while counting my profits… Ok maybe having fun with girls in the middle of the ocean beats it but let’s just say this is the second best feeling a man can experience. Working for somebody else is a dead end. Always start your own if can.

It's definitely a great feeling because there's no better job than being your own boss. But business is not easy and not everyone can do it like you. I once opened a small restaurant and I suffered a huge failure and a huge debt afterwards. It can be said that it was an unpleasant experience for me and it took me another 2 years to pay off the debt due to a loss in business. Business is not for the masses and to be successful requires many factors, not just applying the empty theories rampant on the internet today.

I am sorry to hear your story but it looks like food industry is not for you or probably you missed something important.  I also tired to set-up a business and I also failed since I don't managed the business personally and let my friend take it over.  One thing I learned on this experience is that rarely people will be concerned on the business if they are not theirs.  Most of them will just enjoy the salary and don't care if the business will get bankrupt or not.

So it is best to be hands with the business, learn and educate oneself about the left and right of the business and study the trend and competition while implementing financial management.  It is quite a hard task but if we get familiar with it, it will be easier as time pass by.

I don't make the same mistake as you because I'm the direct manager of my restaurant, but I see your mistakes a lot of people are making and they still don't seem to realize like you. Letting someone else manage the business for us is a serious mistake because as you said, they go to work just for a monthly salary, they don't care about the business's existence, so the business goes bankrupt just a matter of course. 

Honestly, running a successful business is not easy and when we fail, we can only realize the mistakes we have made. There are many reasons leading to the bankruptcy of a business, so it is never too much to absorb new things and listen to people's suggestions.

[uneng]

I don't make the same mistake as you because I'm the direct manager of my restaurant, but I see your mistakes a lot of people are making and they still don't seem to realize like you. Letting someone else manage the business for us is a serious mistake because as you said, they go to work just for a monthly salary, they don't care about the business's existence, so the business goes bankrupt just a matter of course. 

Honestly, running a successful business is not easy and when we fail, we can only realize the mistakes we have made. There are many reasons leading to the bankruptcy of a business, so it is never too much to absorb new things and listen to people's suggestions.

It's true. There is a big difference between businesses which are directly ran by the owners or managers from businesses which are ran by employees, especially on the restaurants' industry. Customers who are used to attend to the place instantly notice the difference on the quality and taste of the food prepared, what is really negative for the restaurant's reputation on long term, as customers will lose their trust on the service offered, especially when taking people they want to impress to eat there or during special events.

It has already happened to me when my family hosted relatives and went out to eat expecting the restaurant to offer delicious food, as it was used to do, but it was a fiasco and I immediately noticed the manager/owner wasn't there, rather only employees were operating the restaurant. Result: we aren't going to come back there again soon...

[Unbunplease]

It's true. There is a big difference between businesses which are directly ran by the owners or managers from businesses which are ran by employees, especially on the restaurants' industry. Customers who are used to attend to the place instantly notice the difference on the quality and taste of the food prepared, what is really negative for the restaurant's reputation on long term, as customers will lose their trust on the service offered, especially when taking people they want to impress to eat there or during special events.

It has already happened to me when my family hosted relatives and went out to eat expecting the restaurant to offer delicious food, as it was used to do, but it was a fiasco and I immediately noticed the manager/owner wasn't there, rather only employees were operating the restaurant. Result: we aren't going to come back there again soon...

The problem here is how competent the hired person managing the business is. There is even such a position as crisis manager. It is clear that people who have previously demonstrated their competence are hired for such a position. Therefore, it cannot be said that a hired manager is unequivocally bad.

[blockman]

You only cover the other business or investment you have from your other source when that other is profitable. Of course, you'll have to support it with your other source that's been prosperous as well. But if you're going to support it with another bankrupt or losing investment or business then that doesn't make sense to support the business that you're establishing.

I understand why we don't agree in this case because you may be position oriented the person already has an investment amount that can cover he needs, and I think the position of the person you are referring to has a lot of funds in his investment which gives him income, then opens a new business with results from the investment, the thought is certainly worthy of the case you describe friends, and the people I mean are those who have hard jobs who want to open a new business for him to build from scratch.

I don't think that there's disagreement. It varies from person to person about his support to the other venture that he's doing. While it's true that not all investors and businessmen have a way to support the other one that they're doing. But that's a typical thing to do to at least make that new business of theirs survive.

You have to make profit from any business that you open. But if you're starting out with that new business of yours, much better not to expect a lot from it because you're still trying to take some tests and taste of the business that you've just built. Most likely that it's not going to do well.

I think it will make the development of a business that already has even a little income, it will be slow if you still have work that takes up your time, it will break your focus, but this depends on the business you actually take.

If there's a little profit then that means there's progress right, it is going to be a slow road to take for them but as soon as they're seeing the momentum and believing in the business they establish. It only means that they're on the right path. And whatever your business are, making a profit is just going to be the last because if you've got a passion and mission through that business, it should be the priority. That's what I mostly hear from businessmen.

[Fivestar4everMVP]

I don't make the same mistake as you because I'm the direct manager of my restaurant, but I see your mistakes a lot of people are making and they still don't seem to realize like you. Letting someone else manage the business for us is a serious mistake because as you said, they go to work just for a monthly salary, they don't care about the business's existence, so the business goes bankrupt just a matter of course. 

Honestly, running a successful business is not easy and when we fail, we can only realize the mistakes we have made. There are many reasons leading to the bankruptcy of a business, so it is never too much to absorb new things and listen to people's suggestions.

It's true. There is a big difference between businesses which are directly ran by the owners or managers from businesses which are ran by employees, especially on the restaurants' industry. Customers who are used to attend to the place instantly notice the difference on the quality and taste of the food prepared, what is really negative for the restaurant's reputation on long term, as customers will lose their trust on the service offered, especially when taking people they want to impress to eat there or during special events.

It has already happened to me when my family hosted relatives and went out to eat expecting the restaurant to offer delicious food, as it was used to do, but it was a fiasco and I immediately noticed the manager/owner wasn't there, rather only employees were operating the restaurant. Result: we aren't going to come back there again soon...

Your opinion is valid, but can not be generalized, that the quality of a companies product changed because its been managed by employees depend mostly on who is running the company, it depends on the personality and experience of who ever is running the company.

The same way you feel the reason for the bad food is because the real owner of the restaurant is not there, so also there are still some restaurant you will go to and discover the reason their food is bad is because the real owner of the restaurant, who also is the manager does not know how to cook, or how good food should taste like.

So running or managing a business in this context depends solely on the individual involved, their experience, level of exposure, their level of expertise at what they do , and also their zeal/willingness to do the job and do it well, whether they be the owner of the company or an employee does not really matter.

[lalabotax]

Starting a business may seems easy but this come with alot of challenges which includes the ability to survive after being established.

Even though there have been many theories that have proposed this, which have provided solutions related to building new businesses, and there have even been many promoters, motivators, and other informants who have explained in theory how to build a business to be successful, in reality, this will not be that easy. Because in practice , sometimes a lot of things happen and don't match the ideal in theory. Sometimes I have done various tricks and tips according to theory but still fail. because after all the conditions for each business may be different, not only in capital but in perseverance, environmental conditions, the accuracy of the business opened, and various other factors.

but indeed here, it does not mean that building a business is impossible because of course many people have succeeded in building a business from 0 or from another step. It's just how we run it.

[serjent05]

Honestly, running a successful business is not easy and when we fail, we can only realize the mistakes we have made. There are many reasons leading to the bankruptcy of a business, so it is never too much to absorb new things and listen to people's suggestions.

I highly agree, without basic knowledge about people and financial management, the industry we are trying to enter, it is really hard to be successful.  Aside from these factors, we also need to study the competition, the trend, the psychology of the client, and many more.  As a matter of fact, others even attend workshops and seminars that have a relation to their planned business just to get a further view of what is ahead of them when establishing such kind of business.  The learning, the adaption, and innovation are never-ending.

[Captain Corporate]

Just this week, I looked into a business idea, something that would take me about 2-3 years to master just in case if AI takes over everything and I would have to use it and like as in general I wouldn't be able to work where I work today, as a way of finding if I could do another business if I am forced to one day. And I realized that building a business is not about money but more about hard work, its something regarding how much hours can you put into something per day, and not only that but how long can you keep it going, you can work 12 hours a day for one month, but someone who puts in 4 hours a day for a year will pass you easily, hence its tough. So its always time, both daily, but also for many years.

[KingsDen]

Building a prosperous business is not an easy task because it is tactical requiring on what to invest on based on people's demands, how and where to invest and trade to attract and acquires and to retain customers of patronages.

Before investing you should have an aside finance that would help you with some personal essential needs and don't believe you would so quick going to prosper budgeting your income to solve your problems at your kickstart.

Your cautiousness readiness to lost with a satisfactory priority to gain would engineers you to fit bridge the downfall of your investment.

You must stay creatively efficient and updated to the marketing skills and be endivoired to goods and services provision at all cost of demands.

Enhance and to broad your products never to settle for less with considering that most customers wants to purchase a related items in a particular unit.

The burden of identifying a business and growing it to reliable standard does not lie in maintaining the business or how many hours of your time you give to the business. The success of a given business lies majorly on the idea behind the business. So many people would have easily started a business, but you need to identify a niche which has not been totally harnessed. That burden of getting a new business idea is where the problem lies. Anyone who is able to develop a lucrative business idea and give it a little more attention and time would be successful.

On the other hand, many people do not struggle much to build a good business idea, rather, they will fall into competition with their friends and colleagues who started similar business even in the same environment. To be exceptional you have to do exceptional things and this applies so well in business.

[Litzki1990]

Even if we have a good job, we should create a business of our own. A job is never permanent a job means working under someone else they will pay you as long as you can work for them but they will not pay you if your performance decreases due to physical illness or any other reason. If you try to set up your own business along with the job and if you can spend some labor or time behind that business, it will be seen that the business will go to a good state, when your business will go to a good state, but there is no need to work under someone else. Not necessarily but for that business you can create employment of some people. We should all think like this. Regardless of the profession we are involved in, we need to have an alternative or a business of our own so that we can support ourselves better from our own business in times of danger.

[Jawhead999]

Even if we have a good job, we should create a business of our own. A job is never permanent a job means working under someone else they will pay you as long as you can work for them but they will not pay you if your performance decreases due to physical illness or any other reason. If you try to set up your own business along with the job and if you can spend some labor or time behind that business, it will be seen that the business will go to a good state, when your business will go to a good state, but there is no need to work under someone else. Not necessarily but for that business you can create employment of some people. We should all think like this. Regardless of the profession we are involved in, we need to have an alternative or a business of our own so that we can support ourselves better from our own business in times of danger.

Actually most of the cases when someone have two sources of income, one from working under someone company and another one from small business, the small business mostly not making any profit or even reach break even point. Run a business is only profitable in the first month where majority of the customers are your family, friend and relative, the reality of your business is happen when your customers are strangers.

Most people making money through their profession and spend it mostly for their business which they never know when it will success.

Not everyone can become a businessman, make sure you've learn something that you can work as a freelancer.

[lizarder]

CONCLUSION
Let your purpose of establishing a business be on solving a problem not just to make money. If your reason to creat a business is to make money, you may get discourage within months if good profit weren't made. Establishing a prosperous business isn't easy, there’s a lot that goes into it. As you begin your business journey, keep these tips in mind, focus on planning, and take the time to test as much as possible. The more you prepare upfront, the more likely that your business will succeed.

Building a business to grow more rapidly is not an easy job, it takes a lot of money, skills and relationships as the driving force. Money is intended for capital and promotions that are carried out, while relationships are another important part as a support. The business must also be adjusted to the wishes of the customer and the provisions of the business must also be able to be reviewed before being developed. For example, if someone is building a business in the hotel sector, what must be seen is whether the place where the business we are developing has potential or not, because we need to look at accuracy and necessity.

Usually the hotel sector will develop when the area becomes the focus of tourists because there are unique things that attract tourists to visit the place. One of the attractions has natural beauty, exotic sea, culture and culinary which is quite famous so that it becomes the target of tourists when visiting the place. Business must also be seen as related to thoroughness and when we are forced to build something that is not needed then the business we are in will not develop.

[Gladitorcomeback]

The subject matter requires detailed discussion. In order to start a good and prospering business, you must have a clear business idea and a solid plan so that you can start your business according to your goals and create a better platform for others.
 Another thing is that it is important for an intelligent businessman that his brand and business activities are at an optimum level, and one should provide good service to the customers with full attention.

Additionally, regularly monitor your performance and analyze the ground realities to improve more. Finally, the most important thing is to never let your morale down, always do with determination and enthusiasm in achieving your goals, so that you clear all difficulties in your way and become a known person in the market..

[usekevin]

It's true. There is a big difference between businesses which are directly ran by the owners or managers from businesses which are ran by employees, especially on the restaurants' industry. Customers who are used to attend to the place instantly notice the difference on the quality and taste of the food prepared, what is really negative for the restaurant's reputation on long term, as customers will lose their trust on the service offered, especially when taking people they want to impress to eat there or during special events.

It has already happened to me when my family hosted relatives and went out to eat expecting the restaurant to offer delicious food, as it was used to do, but it was a fiasco and I immediately noticed the manager/owner wasn't there, rather only employees were operating the restaurant. Result: we aren't going to come back there again soon...

The business should be care by the owner directly,So that the business will be very good.Because the Manager is not the owner,So he won’t give his full cent percentage of participation until he get financial benefits from them.Now the many business holding businessman use the Manager to control their different business,but the most of the Manager use the company for their own benefit.The best thing is needed to hire a good manager for your business as compared to hire a employees.Because manager role is more next to owner.

[Silberman]

It's true. There is a big difference between businesses which are directly ran by the owners or managers from businesses which are ran by employees, especially on the restaurants' industry. Customers who are used to attend to the place instantly notice the difference on the quality and taste of the food prepared, what is really negative for the restaurant's reputation on long term, as customers will lose their trust on the service offered, especially when taking people they want to impress to eat there or during special events.

It has already happened to me when my family hosted relatives and went out to eat expecting the restaurant to offer delicious food, as it was used to do, but it was a fiasco and I immediately noticed the manager/owner wasn't there, rather only employees were operating the restaurant. Result: we aren't going to come back there again soon...

The business should be care by the owner directly,So that the business will be very good.Because the Manager is not the owner,So he won’t give his full cent percentage of participation until he get financial benefits from them.Now the many business holding businessman use the Manager to control their different business,but the most of the Manager use the company for their own benefit.The best thing is needed to hire a good manager for your business as compared to hire a employees.Because manager role is more next to owner.

They do not have skin in the game and as such they can allow the business to not do as well as they still receive the same salary either way, so why overwork themselves when they can take a more relaxed attitude towards their job and still make the same amount of money? Then anyone that is thinking about starting their own business needs to be ready to manage it themselves for a very long time, otherwise if they delegate their responsibilities too soon then their business could easily come crashing down and they could lose all the work and money they invested in it.

[_BlackStar]

Even if we have a good job, we should create a business of our own. A job is never permanent a job means working under someone else they will pay you as long as you can work for them but they will not pay you if your performance decreases due to physical illness or any other reason. If you try to set up your own business along with the job and if you can spend some labor or time behind that business, it will be seen that the business will go to a good state, when your business will go to a good state, but there is no need to work under someone else. Not necessarily but for that business you can create employment of some people. We should all think like this. Regardless of the profession we are involved in, we need to have an alternative or a business of our own so that we can support ourselves better from our own business in times of danger.

Perhaps more precisely is to have more sources of income if you do not want to fall into poverty more quickly.

That view may be correct from a financial perspective - I mean the more sources of income you have the more opportunities you have to sustain your financial condition longer. It's always difficult if you have only one source of income - it's too risky to build a better financial status considering the need for money has increased following inflation.

[samcrypto]

Even if we have a good job, we should create a business of our own. A job is never permanent a job means working under someone else they will pay you as long as you can work for them but they will not pay you if your performance decreases due to physical illness or any other reason. If you try to set up your own business along with the job and if you can spend some labor or time behind that business, it will be seen that the business will go to a good state, when your business will go to a good state, but there is no need to work under someone else. Not necessarily but for that business you can create employment of some people. We should all think like this. Regardless of the profession we are involved in, we need to have an alternative or a business of our own so that we can support ourselves better from our own business in times of danger.

This is what we called side hustle that will soon turn into your main source of income once you succeed managing it and yes there's no problem on doing this. The only challenge is that, its not easy to have your business as it requires your full attention and I've done this before and failed many times already. If you really want to make extra income, they keep on trying and one day once you already have the skills and experience, you know already what's business that works for you.

[stomachgrowls]

Even if we have a good job, we should create a business of our own. A job is never permanent a job means working under someone else they will pay you as long as you can work for them but they will not pay you if your performance decreases due to physical illness or any other reason. If you try to set up your own business along with the job and if you can spend some labor or time behind that business, it will be seen that the business will go to a good state, when your business will go to a good state, but there is no need to work under someone else. Not necessarily but for that business you can create employment of some people. We should all think like this. Regardless of the profession we are involved in, we need to have an alternative or a business of our own so that we can support ourselves better from our own business in times of danger.

This is what we called side hustle that will soon turn into your main source of income once you succeed managing it and yes there's no problem on doing this. The only challenge is that, its not easy to have your business as it requires your full attention and I've done this before and failed many times already. If you really want to make extra income, they keep on trying and one day once you already have the skills and experience, you know already what's business that works for you.

If you are on a situation on which you are heavily depending on your paycheck then it would really be just that wise that you should really be mindful when it comes to making some investment because on the time that it

would really be able to make some revenue or income which is bigger than on your current job then sooner or later you would really be finding yourself on having that financial freedom because this what everyone is really that wishing for on which on having that financially free on having no problem when it comes to this matter on which this is why it would really be that worth on having  this kind of plans on which it would
really be giving out that kind of chances but of course not everyone who would really be that successful but at least you would really be having that kind of chance when it comes on risks taking
rather than on having nothing at all.