Planning on starting any business?

[CageMabok]

Before starting a business, if it is planned according to the plan, then it acts as a guide. The plan shows a businessman a specific path to achieve his goals. Planning is important in keeping a clear account of capital, expenses, income and profit in the business. Proper planning in the business is the basis for growth and expansion. If the business is done according to the plan, it reduces risks, shows the right path and helps in accumulating wealth.

Theory is always easier to write than practice. Business owners who want their businesses to run long-term certainly need to plan beyond simply recording capital, expenses, and income. They must also consider competitors who offer services and products of similar quality to theirs, as these competitors are real competitors in every business. Therefore, the plan must be truly comprehensive, as every step carries risks that business owners must understand.

[DanWalker]

The question now is, do you want your business to grow quickly or slowly but sustainably? Fast-growing businesses are likely to only last a few years, while slow-growing businesses usually last longer. This is a phenomenon I've experienced myself: when I started a business, the growth rate was so rapid, but ultimately, it all disappeared within a relatively short time.

As I said, fast or slow, sustainable or not, it all depends on your strategy and plan. Your business grows rapidly because you made the right decisions. But you cannot maintain its existence because you become complacent with victory, subjective or slow to adapt, because the opponent always finds a way to surpass you.

Slow growing businesses may be because they have a more conservative strategy or have not yet found an effective strategy to help the business grow faster.

Just like bitcoin is considered the fastest growing asset in history, do you think that because it is growing so fast it will soon collapse?

[mumang siat]

Exactly, depends from your knowledge and skills and the venue where you'll put up your business, there's no assurance but if you have the right sets of skills, the chance is better to succeed, and same with you, small capital can go big if you locate the right business for you, there's always a big possibilities but without taking actions there's nothing that can be achieved.

It's you that will generate whatever the outcome, if you plan well and execute well you might harvest the success that you are aiming, it can't be concluded if there's no action yet coming from you.

 A rapid impact on business comes in the form of appropriate skills and management. Readiness to take risks also plays a crucial role in facing potential risks. In other words, mental readiness plays a key role in this. The chance of measuring the success of a business idea is uncertain, whether it's large or small capital. It's only the volume that determines it. It's simply about how you manage it well. With small capital, I believe it will grow over time, and you can reinvest it.

Large-capital traders are indeed relatively dominant, making it much easier for them to achieve success. However, with improper management, I believe this is completely useless. Skills and knowledge must be paired when you want to start a successful business.

[hedgeh0g]

Before starting a business, if it is planned according to the plan, then it acts as a guide. The plan shows a businessman a specific path to achieve his goals. Planning is important in keeping a clear account of capital, expenses, income and profit in the business. Proper planning in the business is the basis for growth and expansion. If the business is done according to the plan, it reduces risks, shows the right path and helps in accumulating wealth.

That is why they say that a dream differs from a goal only in the presence of a plan and specific dates.
But I don’t understand why the author of the topic devalues the fact that a large amount of capital is needed to make a business truly successful.
If someone who wants to start a business has a lot of money, then he is able to correct his mistakes at the early stages with additional investments so that his business, which he has just started, does not go bankrupt immediately. It is actually like playing with a big bank in hand in poker. This is an advantage.

[Y3shot]

I prefer building a business for the long term rather than achieving short-term success because businesses that grow quickly also experience setbacks quickly. Capital is indeed a crucial factor in determining the steps we take to develop a business, but that doesn't mean having little capital means you can't start. To build a business with small capital, we must be able to see opportunities and how the business can become a necessity for most people.

The growth rate and longevity of your business depends on your planning, strategy and management skills. Fast growing businesses are those that make the right decisions from the start, so it would be incorrect to say that if a business grows fast it will also fail fast.

Also, you can start a business with a small capital but the chances of success will be lower than when you have a large capital no matter how perfect your vision and plan are. Because between theory and practice, between saying and doing, there is a huge gap. Things don't always turn out the way we think.

Another thing that plays a significant role in the growth of a business is the location where the business operates. If it is in an area with a low population rate, it might influence the growth of the business.

Additionally, if the location is inhabited by very poor people, it can also affect the business's growth. That is why, when planning a business, it is important to carefully consider whether the location is suitable and if the type of business you want to pursue aligns with what the local population truly needs for daily use. Other factors that also influence the growth of the business need to be considered as well.

[Fredomago]

Exactly, depends from your knowledge and skills and the venue where you'll put up your business, there's no assurance but if you have the right sets of skills, the chance is better to succeed, and same with you, small capital can go big if you locate the right business for you, there's always a big possibilities but without taking actions there's nothing that can be achieved.

It's you that will generate whatever the outcome, if you plan well and execute well you might harvest the success that you are aiming, it can't be concluded if there's no action yet coming from you.

 A rapid impact on business comes in the form of appropriate skills and management. Readiness to take risks also plays a crucial role in facing potential risks. In other words, mental readiness plays a key role in this. The chance of measuring the success of a business idea is uncertain, whether it's large or small capital. It's only the volume that determines it. It's simply about how you manage it well. With small capital, I believe it will grow over time, and you can reinvest it.

Large-capital traders are indeed relatively dominant, making it much easier for them to achieve success. However, with improper management, I believe this is completely useless. Skills and knowledge must be paired when you want to start a successful business.

Yeah that's the advantage of large-capital investment as they can really takeover and make an impact, though same with what you said, even you only got small amount of investment if you manage it well the chance to bring it to another level is not by far, as long as you really know what you are doing eventually you can just reinvest all the profits and along the way if fate permits, then you'll be able to make more and established your business/investment.

[hedgeh0g]

In the country where I live, marketplaces have become widespread for a long time now, there are several types of them, and it seems that only the lazy have not tried to create their own page, which would be like a store for distributing some goods. And I recently read articles about those people who create such shops, and even try to trade on them with varying success.
And I was very surprised that many of them do not count their profits at all, but simply trade and periodically withdraw money. They are not familiar with economic concepts at all. This is how low the level of modern entrepreneurs turns out to be.

[TopT3ns]

In the country where I live, marketplaces have become widespread for a long time now, there are several types of them, and it seems that only the lazy have not tried to create their own page, which would be like a store for distributing some goods. And I recently read articles about those people who create such shops, and even try to trade on them with varying success.
And I was very surprised that many of them do not count their profits at all, but simply trade and periodically withdraw money. They are not familiar with economic concepts at all. This is how low the level of modern entrepreneurs turns out to be.

Some times I even get surprised to find out that many people are able to sell online yet they are unaware of what they are making. As we have all heard, the money in your balance sheet does not always translate into profit as the profits are more likely than not eroded by hidden costs. This is because you have heard people say that the most important thing is to just keep your business on its feet but when you think so then you only remain stagnant in case you wish your business to expand in size. I think that in this case, inspired people who plan to build a business should be able to consider all the incomes and expenditures, though this may be difficult initially. Luck, without rationality, will not always save the firm since a company that lacks proper records will find it easy to fail.

[MarjorieZimmermanGinger]

But on account of proper management structure on ground with even the small size of capital, it can be sustaining to such business's success in the long ... Experience should be considered as a key asset in business planning and as a key factor it's important to always involve those with experience in the area of business when planning. Never neglect this!

While this is absolutely true, it's important to conduct research before starting a business because not all locations will have the same business suitability. I once built a small-scale business in my neighborhood, and from my experience, those businesses thrive when people need them. Small capital can be adjusted, and experience is also very important before deciding to start a business. The mistake many people make is building a business that doesn't meet the needs of the local community, which results in the business not growing as expected.

[Cipherpz]

Effective use of small capital, and sufficient research and experience before starting a business should be the basic foundation for an entrepreneur. Conducting a preliminary market analysis before starting a business is not only important to establish the business, but also to make the business sustainable through accounting. The first step to becoming a successful businessman is to become an accountant for your own business. Creating a budget and making decisions based on it, keeping records of all income and expenses, and analyzing profit and loss on a monthly basis are essential for any business.

[Leahized]

But on account of proper management structure on ground with even the small size of capital, it can be sustaining to such business's success in the long ... Experience should be considered as a key asset in business planning and as a key factor it's important to always involve those with experience in the area of business when planning. Never neglect this!

While this is absolutely true, it's important to conduct research before starting a business because not all locations will have the same business suitability. I once built a small-scale business in my neighborhood, and from my experience, those businesses thrive when people need them. Small capital can be adjusted, and experience is also very important before deciding to start a business. The mistake many people make is building a business that doesn't meet the needs of the local community, which results in the business not growing as expected.

You are right to say that it is important to have an experience before doing any business. I'd like to give a fast food shop in my town (Means Restaurant). I do not currently have that amount of money to restaurant. Because of this, I am investing the most Bitcoin at the present time, which will make a restaurant if you can make a good amount of profit later. In comparison, if I build a restaurant in the rural area and it will require a lot of money. However, what I expected will not be achieved, because it does not work in the village area. Moreover, it will be seen that I will be lost, I do not want my business to deteriorate. That's why at the present time I am taking two ways to be trade first and secondly to invest Bitcoin. Because I will invest the amount of profit that I will get through the trade. So that 6 months, 1 years after twice the profit. If that is not the case then I will hold the hold for a long time and wait for enough profit.

[yslyv]

I generally agree. Moreover, the fact that a business you plan to start is being successfully run by others and that they are making a lot of money does not mean you will also earn a lot and achieve the same success. Even within the same line of business, there are many variables and different factors at play.

[bubilas]

I generally agree. Moreover, the fact that a business you plan to start is being successfully run by others and that they are making a lot of money does not mean you will also earn a lot and achieve the same success. Even within the same line of business, there are many variables and different factors at play.

This is exactly how many beginning businessmen succumb to the mistake that they see other successful stores or marketplaces and seeing the successful number of sales they believe that there is nothing complicated about it. They succumb to the mistake that it is easy to do the same thing and there will be exactly the same success.
But in reality, they absolutely do not see how much effort, thoughtfulness, targeting and promotion has been invested in the development of this business.

[ancafe]

As I said, fast or slow, sustainable or not, it all depends on your strategy and plan. Your business grows rapidly because you made the right decisions. But you cannot maintain its existence because you become complacent with victory, subjective or slow to adapt, because the opponent always finds a way to surpass you.

Slow growing businesses may be because they have a more conservative strategy or have not yet found an effective strategy to help the business grow faster.

Just like bitcoin is considered the fastest growing asset in history, do you think that because it is growing so fast it will soon collapse?

The mindset of achieving wealth in a relatively short time is a misconception because most of us focus on who can achieve it faster. On the other hand, we ignore the process, which leads to expectations not going according to plan. Most people struggle with the process because they're too hasty to achieve success. Businesses should also start in a relaxed manner, allowing us to test effective strategies and implement them so that the business can slowly develop well before achieving success.

If the hope of doing business does not have the ability to survive in the face of a lot of competition, it is the same as people not having the ability to recognize potential and now we can see that there are many methods applied in business to maintain the existence of the business running well.

[Bitcoin_people]

We know that in business, you should plan well in advance, moreover, it is very difficult to succeed in business. Moreover, it is always important to take advice from experienced people in business, to get good advice from those who have already done business and seen success. I think that before starting a business, you should talk to experienced people and after taking their advice, you should go into business with a good fund. When a person becomes fully experienced in business, he will have a plan on how he can improve this plan in the future to implement it. Every businessman should plan in advance according to various practical frameworks. Experienced people always plan in advance and later they can succeed very easily, gaining experience is also very important in business.

[Hewlet]

Before starting a business, if it is planned according to the plan, then it acts as a guide. The plan shows a businessman a specific path to achieve his goals. Planning is important in keeping a clear account of capital, expenses, income and profit in the business. Proper planning in the business is the basis for growth and expansion. If the business is done according to the plan, it reduces risks, shows the right path and helps in accumulating wealth.

Theory is always easier to write than practice. Business owners who want their businesses to run long-term certainly need to plan beyond simply recording capital, expenses, and income. They must also consider competitors who offer services and products of similar quality to theirs, as these competitors are real competitors in every business. Therefore, the plan must be truly comprehensive, as every step carries risks that business owners must understand.

the only way you get details about a business is when you get started and then you can learn so many things as the business progreses because fact is that before the business starts, everything will look alright as though your plan will just work realy fine untill you get started and then it downs on you that there is more to the business than just setting up mere plans. it is the reason why it is best to start small, watch the business grow and then you can add more income into the business and scale it up to something bigger.

if because of the plans you have and the prospect you see just at the point of doing analysis on the potential returns your business will yield, it leads you into starting too big, you might end up buying things you never need in the business and discover that you have as well left important things that you need in the business. it takes taime and process to run a business.

[Xcode7]

We know that in business, you should plan well in advance, moreover, it is very difficult to succeed in business. Moreover, it is always important to take advice from experienced people in business, to get good advice from those who have already done business and seen success. I think that before starting a business, you should talk to experienced people and after taking their advice, you should go into business with a good fund. When a person becomes fully experienced in business, he will have a plan on how he can improve this plan in the future to implement it. Every businessman should plan in advance according to various practical frameworks. Experienced people always plan in advance and later they can succeed very easily, gaining experience is also very important in business.

Running any business requires significant capital, so naturally, everyone will make thorough plans for all aspects. However, I don't think it will be easy, as there are always risks involved. Therefore, we must prepare and face all possibilities.
Currently, I see that many people are starting to enter the business market, and this applies across all sectors and regions. Therefore, the most important thing is competition. This is what we must be able to do to dominate the market.

[katanic97]

Before starting a business, if it is planned according to the plan, then it acts as a guide. The plan shows a businessman a specific path to achieve his goals. Planning is important in keeping a clear account of capital, expenses, income and profit in the business. Proper planning in the business is the basis for growth and expansion. If the business is done according to the plan, it reduces risks, shows the right path and helps in accumulating wealth.

I agree, but you always have to be ready for complications; it’s the same in life. Of course, a plan makes running a business easier, but some unexpected situations have to be resolved without a plan.

[Rockstarguy]

Before starting a business, if it is planned according to the plan, then it acts as a guide. The plan shows a businessman a specific path to achieve his goals. Planning is important in keeping a clear account of capital, expenses, income and profit in the business. Proper planning in the business is the basis for growth and expansion. If the business is done according to the plan, it reduces risks, shows the right path and helps in accumulating wealth.

I agree, but you always have to be ready for complications; it’s the same in life. Of course, a plan makes running a business easier, but some unexpected situations have to be resolved without a plan.

Apart from planning, one should be able to handle the things that are unexpected because in business, it is not only what you plan for that you will come across; sometimes emergencies happen, and if you are not prepared to handle the unknown, it can affect the business. In business, we plan, and sometimes what we plan for is different from what we experience.

In this case, if you are prepared, it can positively impact the business. If one is not careful, it can lead to a failed business. What helps in sustaining a business is when one is able to think outside the box and handle problems rather than running from them or allowing the problems to overwhelm them due to a lack of ability to manage the situation. Every business has expected and unexpected challenges that must be solved for the business to grow and succeed.

[Unknown Op]

We know that in business, you should plan well in advance, moreover, it is very difficult to succeed in business. Moreover, it is always important to take advice from experienced people in business, to get good advice from those who have already done business and seen success. I think that before starting a business, you should talk to experienced people and after taking their advice, you should go into business with a good fund. When a person becomes fully experienced in business, he will have a plan on how he can improve this plan in the future to implement it. Every businessman should plan in advance according to various practical frameworks. Experienced people always plan in advance and later they can succeed very easily, gaining experience is also very important in business.

Running any business requires significant capital, so naturally, everyone will make thorough plans for all aspects. However, I don't think it will be easy, as there are always risks involved. Therefore, we must prepare and face all possibilities.
Currently, I see that many people are starting to enter the business market, and this applies across all sectors and regions. Therefore, the most important thing is competition. This is what we must be able to do to dominate the market.

Starting a business is not new for anybody because everyone want to invest him money but most of the people don't know the skills required which will make rich person in the future. Every business required different skills and people need to work on these skills to be successful in their field. But business is not for everyone because many people want to live life with stable income which will make them not rich and not poor but they will live life with costly things which they don't deserve but they have to work on the personality development before to be successful in life .Many people want to earn more by doing effort actively which is not good step because they can earn money passively by doing smart work.