Business Ideas

[Kasabus]

Being popular is not really necessary before making a business, though it helps, but just let your business makes you popular in the long run, when your business has already established its name in the market, and in the near localities around.

One thing that could really help your business to succeed, more than research and capital, is having a clear and concrete plans on how you will execute your business, with back up plans ready if ever those first attempts will not work and won't turn out successful.

[Josefjix]

Starting business with friends had been the source of many chaotic partnership ever, as time goes on, the business owner title becomes a major priority that will results to fight among all the friends supported by their wives and husband. I only value sole proprietorship is the highest kind of business that doesn't need external help to continue.

Every income and outcome had been calculated by one person, doesn't need the attention of others before owner will decide what to do or not.

[Cryptomultiplier]

I won't advise anyone to start a business with any close friends because it would always end in disaster and the friendship would be broken up, simply because money is involved.

As for being popular before starting a business, I don't think it really matters because all one needs is to showcase their products and services in ways that people can't ignore it or the right niche would find it. Visibility, consistency, discipline, good manner of approach and handling issues, understanding of budgeting and record keeping, would help a business idea grow faster than popularity would. So focus on your skills and personal development and success is guaranteed.

[cryptomaniac_xxx]

I will play devil's advocate here. Or something that you don't need to be a business man. It's called affiliate. I have seen people locally specially in tiktok (since we are in the social media this days), that they don't have their own business, but just started to promote something and they are raking a lot of money per month.

But it's not that easy though, you really need to have a good promotional strategy to spread your videos and be somewhat well-known. But if you can find this formula, you can promote a product that his not yours but still making money as they are the one going to make the logistics, and not you. So will just be given commissions, a win-win situation for your and the entrepreneur.

[Oluwa-btc]

Yes, in the present time, there are many companies that can provide you with machines. However, they may set certain conditions, which might reduce your profit margin slightly. Even then, you can still establish your business and build your company. If you don’t want to do business this way, another option is to start a business by pooling small amounts of money with a few friends and growing together.

Then you're having good prospect about how one should run a business but the headstart ain't going in line with what should be described as a business ideas, that's meant to be shared amongst individuals from different niches. Looking at the headings of your post I was thinking that you' will be sharing some useful business ideas to the forim members that'll be beneficial in so many ways. Mind you I don't necessarily advice anyone to start up a joint business with friends cause the outcome isn't appalling mostimes.

[coin-investor]

.. you must produce goods according to consumers’needs.

Businesses, products, and services come from consumers' wants and needs, and to understand what the market wants and needs, we need to conduct a feasibility study.
A feasibility study is very important, as the success of the product lies in it.

I understand this because I once participated in a taste test, and before they launch a food in the market, they need to undergo hundreds or even thousands of taste tests by testers coming from consumer and if one set of food satisfies the majority of testers, that will be time to launch the product in the market.

There are thousands of business ideas, but they should first undergo a feasibility study because, without it, the product or service will fail miserably

[Kelvinid]

To do business, the first thing you need is to become known and trusted by people. The quality of the product you choose to start your business with must be good, and you must treat people well.

Quality is already subjective nowadays due to the introvert of cheap items from China. It’s hard to compete with products even if you have quality if there’s an alternative that cost much cheaper and perform the same even on a short period of time.

I preferred business on services such as laundry shops and so on which people use it as necessity without competition against China cheaper products.

That's also my point. It's hard to establish your business and compete with the big companies already when your items are just the same with those sold in cheaper prices. No matter how we convinced our customers that its should be quality over quantity, but with high inflation these days, only those who are rich can prioritize quality but expensive items, the rest would just fit their budget on cheap ones.

So if you think of new business, much better if it would be those kind of businesses that people can't live without, like restaurants, pharmacies, and laundry shops.

[Stalker22]

I am going to be honest with you.  This sounds like something that someone who has never actually had to make payroll would say. 

Most "short supply" gaps exist because the business is too expensive or too risky to run.  If it were easy, someone with more capital than you would have already filled it.  That "zero to hero" story is a fairy tale for people who dont want to work.  In the real world, the "hero" usually starts with a pile of debt, three years of no sleep, and a couple of failed attempts you will never hear about.

What businesses have you actually built, or what credentials do you even have to be giving out this kind of "zero to hero" advice, if you dont mind sharing?

[silpersurfer]

That is true. It, therefore, implies that when setting up a business, the primary needs of the people should first be identified and not our personal wants. If our products or services correspond to their needs, they will willingly purchase and thus have trust in our business.

This also makes the business grow more easily since we are not spending time and money on something that is not really needed by the market. When you focus on assiting or helping to meet people's needs, the probability of success and sustainability in the long run is better.
Also, making trust is key. People do not only get items; they also gain a feeling of safety and belief that they will not be let down. Thus, the quality of our goods and how we serve our clients must always be kept up.

At the beginning of a business, we don't need to immediately think about big and complicated things. Start with simple things, learn the process, and gradually improve our skills, and eventually new opportunities will come naturally.

[HONDACD125]

You are right about how one should go about it, because someone who wants to start a business must do their homework properly. The first step is to find a business that you should start, and then you should see where the business should be started so that it gets enough customers based on the demand of the business, and then the last step is to make the investment in the business, and it isn't necessary for a business to have machines and be producing their own products right from the beginning, one can also start as a reseller, and use the products of other companies that are already available.

And, I wouldn't recommend the pooling system or starting a business with partners, because no matter what, partnerships where money is involved often end up in fights, and those fights could get dirty sometimes. That's why, I would rather suggest someone start a business on their own instead of making friends join them in it, I know that people mostly do partnerships because they need extra funding, but either take a loan or start a smaller business, but avoid partnering up at all costs.

[Ocham]

This guide that you mentioned is easier said than done. For a business to be successful, the operator should have the necessary skills and experience to handle the pressure of running a business.
I have a lot of businessman friends, and many of them run and lose their businesses on their first tries. The money and the products are there, but they lack experience; experience gives you insight as you run your business. Business is not an 8-to-5 job; it's a 24/7 venture, it's imposing but rewarding.

Alongside your studies, start a small business. You’ll see that by the time you finish your education, your business will have grown significantly. I have another friend—back when we were in sixth grade, around 2006, he started a small poultry business near the city. Now it’s 2024. Over these 18 years, he has become a millionaire and has expanded into many other businesses. This shows that you need to invest and be patient; success will come in time, Insha’Allah.

[Jateng]

I expect you to start about the competencies in a potential entrepreneur that he must possess before starting a business, because this goes a long way in determining for how the entire ideas and operations goes with the business we are doing, planning before the start up is very important, so that we cant afford to later stop along the way when we couldn't move on the operations at the middle of the way because of some minor challenges.

Everyone knows that basic skills and abilities are very important for developing any business. These skills prove how daily activities will progress. If a business person does not have these skills even the smallest problems can create difficulties and the business can stop. That is planning is an important skill because planning shows how much we can run this business and what difficulties it will face and how much profit it will make. It's important for a person who is starting a business to make every decision right which will strengthen the business and this person will also have experience in dealing with risks.

[DiMarxist]

The first thing that, should come to your mind when trying to setup a business is customers need. This is were business starts your ability to understand and know what people needs in your environment is very important.when starting a business it's not just enough to just start any business but you have to identify a problem in your environment and then try to solve it.your ability to solving a need that society have is what will determine how successful your business will grow and do well. Anyone can have a Business idea but it doesn't end at that level you must translate that business idea into solving a problem.

[bhadz]

another option is to start a business by pooling small amounts of money with a few friends and growing together.

This looks a good idea but I tell you that never do this. Getting funds from friends and growing it together looks a dream come true but, you'll never know who's going to blame you once the business or startup is failing and there are no sales and revenue. These people that you will be partnering with should be aware of the risk they're taking. Because many think that if they invest, they're going to make profit easily from that startup you're building. And this is the reason why I don't like this strategy, you'll be blamed and you're likely to cut ties and connections when things go south with this kind of partnership.