What are the best strategy to Open a business in this our dying economy?

[pawanjain]

Business is what every individuals does to support and protect his or her  daily income anybody without a business in the world today is never a complete man/woman,there are some personnel's who are working class but still there monthly salary is always not enough for there daily consumption, and they decide to open business and now the business was not moving well as expected
,I have a friend who was working in an oil and gas company but he still complaining of his fund not always enough,
When he came to me to advise him I asked him to make an investment with his discretionary income instead of wasting it with things that are not essential
At the end he chose to open a water factory business and this my friend has no knowledge about the water factory business now he has spend a lot of money in running the water factory and as I'm speaking the business is not producing as expected
In my own perspective I think the cause of it is,Lack of management ,Employing wrong people and Wrong location
What are your thoughts on this, your opinion and advice are welcome

I don't agree with your statement that anybody without a business is not a complete man. Why do you say so ?
If everyone starts doing business on their own, whom would you employ ? There won't be anyone doing a job then.
Everyone has to do a job at some point and if they are earning well then there's nothing wrong with that.
You can't really judge them saying they are not a man/woman. I see so many successful people who are filthy rich but do a job.
There are many high paying jobs in the world and there are many failed businesses in the world. We can't undermine both.

[Cryptoprincess101]

It's not about opening a business do you have the ideas on how to manage a business? Some people just thinks that business is about buying goods then stock it and start selling but that's not it. Business also requires studies that is the reason why some persons do courses on business administration and management. That notwithstanding, there is no guarantee that you can be successful in a business because what you expected before you start up a business may not be what you will be seeing when you finally put it up together because the patronage may not be coming especially within the early stages of the business so before starting a business, it is necessary that you have some amount that you have kept aside to manage with while waiting for the business to get a balance but if you don't have any money left with you after starting up a business you can become frustrated because any little money you make, you will use it to settle some personal and necessary needs when that amount is supposed to be kept for running the business especially to restock goods when you have ran out of stocks.

[Mhizlove]

From my own view, business isn't something that is been rush into without proper planning or having the understanding on what exactly you are about to do, what matters most is you having the understanding and also planning on the business type you want to do. The issue on this your friend's case is not about him investing, but how he invest. Going into business without proper Understanding, no research, no management or good location can consume your money quickly.

What I can say, like an advice I will give is that before going into a business, make sure you learn more about it, study the Market in form of market survey, ask questions on how the particular business you want to go into is, and lastly start on a small scale like gradually. When it comes to employment of workers do employ the right people, the ones you know you can trust and also your location matters too. You see business can also be of help to those who earn salaries but if it's done without good planning it will turn out to be problem instead of helping you

[Cheema02]

We human are not satisfied even after several jobs and businesses we won't still be okey with it.
Before starting any business we are supposed to some little knowledge about the business, your friend never had any water factory experience he was supposed to ask those that are into the business so they can him some guild lines regarding the business and when he was also employing people to work for him he never hired those who has the experience about the business, business is consistency environment and also who people around needs some much.

Your point is really valid and its true that humans never statiafied with there doing jobs or own business. The reason behind is that is the lack of preparation not the lack of opportunity. When we start a business we should be gain a lot of knowledge about it but unfortunately we don't research and just start the business and its the basic reason of failure and interest in new business. Many owners done the same mistake during hiring instead of experience they prefer random guy because they gave him low sallery but this step weakend the foundation of business. Every bussiness success is depends on consistency of product quality and right environment and skilled people investment and ideas not alone behind success. The learning point is that before starting a business we should have accurate knowledge about our business then we make proper plan and hire skillful staff.

[el kaka22]

Online ones, no matter how many times it has been tried, you can try once more. You can try to have an online business for a dozen times, fail a dozen times, and go up and try again. One of the main reasons is because it's cheap, you can have just a thousand dollars and start any business you want, you want to sell digital calendars on easy? Can be done.

You want to have an AI business where it tells you fortune cookie stuff? Can be done. You want to start an affiliate marketing business? Can be done. You want to start html5 game website where you only host games that can be played on the browser? Can be done. There is infinite amount of business ideas, and they are all very cheap and can be tried and eventually one may work.

[Makus]

if you are trying to go into any business the first thing to do is to study yoir environment, use the strategy of low supply high demand to your advantage, sell something that is in short supply, meaning what you offer should be something that is needed and not in wide circulation. Take out time to know what people need and what's lacking in your environment. A lot of people start up what others have going on already and complian about their business not growing, your strategy shouldn't be about competition it should about solving problems.