If you don't discover and develop your talent, you will tempted to do this

[Juicyhome]

Op any business that'a not competitive the. Such business has no value, if a business has a good value many people will definitely do it, not minding how many people are into it. The only thing that can different you from others could be your price and how your package and treat your customers. Every business is doable if the have the right place to start or capital with skill to manage it.

Bitcoin investment is not for untalented people, Bitcoin is for all , anyone can be rich in Bitcoin investment it's open for everyone depend on how you approach it, to have money to invest in Bitcoin show that people has other means of income, Bitcoin investors are not lady people, it's just another form of investment, it doesn't stop anyone from starting a business or improving their skills.

[SamReomo]

The only time it may be OK to do similar businesses is if the original businesses aren't living up to expectation such as delivering good quality products/services. Or if the original are becoming too crowded, congested, slow and overwhelming to the owners.

One can always start a similar business to others and if he/she does the job somehow differently then he/she can build his/her own customer base. We know business like Amazon is on top when it comes to e-commerce but that doesn't mean new e-commerce businesses can't be started.

There are many food related businesses out there but that doesn't mean a new food related business can't be created or it can't gain any customers. Every business idea can be recreated by someone else and again the new version of the same business idea can gain customers.

[Youngrebel]

One can always start a similar business to others and if he/she does the job somehow differently then he/she can build his/her own customer base. We know business like Amazon is on top when it comes to e-commerce but that doesn't mean new e-commerce businesses can't be started.

There are many food related businesses out there but that doesn't mean a new food related business can't be created or it can't gain any customers. Every business idea can be recreated by someone else and again the new version of the same business idea can gain customers.

You are right, tho success in business is not always about having a completely original idea sometimes it is actually about or should I say execution, because so successful businesses we see today entered markets that were already crowded, but they differentiated themselves through maybe a good customer service, their quality, convenience, or even the price at which they sell something just need to be different from that of others. And as you have said Amazon did not eliminate the possibility of other e commerce businesses succeeding and to me the main thing I see in this business of a thing is identifying what customers needs and delivering it in a way that stands different from other with good quality.

[MRY]

You are right, tho success in business is not always about having a completely original idea sometimes it is actually about or should I say execution, because so successful businesses we see today entered markets that were already crowded, but they differentiated themselves through maybe a good customer service, their quality, convenience, or even the price at which they sell something just need to be different from that of others. And as you have said Amazon did not eliminate the possibility of other e commerce businesses succeeding and to me the main thing I see in this business of a thing is identifying what customers needs and delivering it in a way that stands different from other with good quality.

All this will make your business be special in the eyes of your customers since you will be focused on how to serve your customers. It is not required that you absolutely possess a new idea never done before, you just have to operate your business with passion. I firmly believe that it is because of convenience that customers continue to come back. Offer optimal experience to all the people that purchase your products today.

[hafiztalha]

Today there is no limitation of Bitcoin relevent business models it almost related to every field and industry. It's the behavior of our societies that if an individual makes good money every one wants to copy his business model without having any knowledge about it's business and even they don't know they have the abilities or skills to adopt this business model. It's the mentality of almost all countries in the world that individuals feels save in doing that business what other are doing but they don't have courage to built a more authentic business instead of copying others for for financial stability. Mostly who copying other business models whiteout having knowledge about it they can lead to loss. So at the end success is always support to pattern of skills in the form of good knowledge about your business or any way so to run a successful business you should have calculated knowledge about it.

Those people who enter in an already existing business does not mean that they are talents less or they lack creativity, competition is part of any healthy economy either it is bitcoin based or it is any thing else. There are many businesses who were not the starting one or the first one in their businesses and their fields but within the passage of the time they have found different and better ways to provide services to their customers or they have improve their qualities with the lower prices they bring innovations to their businesses and day becomes successful people mostly developed their skill while working through experience and with help of competition. It is completely okay to be a part of an existing business and then improve because not everyone has unique talent before they enter into any business.

[junder]

All this will make your business be special in the eyes of your customers since you will be focused on how to serve your customers. It is not required that you absolutely possess a new idea never done before, you just have to operate your business with passion. I firmly believe that it is because of convenience that customers continue to come back. Offer optimal experience to all the people that purchase your products today.

Passion alone isn't enough many other factors need to be considered to prevent losses or business decline. I believe everyone who runs a business does their best, but on the other hand, we also need to consider other aspects of running a business.

A well-managed business will yield good results, and running a business is actually easy, but not easy, because we must be smart in the competitive environment.

I agree with you that customer satisfaction is one of the factors that keeps customers coming back to us. Providing the best service and quality products will ensure customer satisfaction.

[Abdulzuruku01]

You are doing wrong when you enter into any business venture without adding any actual value but you are driven with the assumption of the potential profits which means you are looking to where to invest and only capital you have is money without intellectual knowledge or experience of the business, we find this kind of people not only I bitcoin but all other business in real life where people rush in because the potential profits.

seriously, this is one of the biggest problems we have today. A lot of people just enter into business because they are seeing others making money, not because they understand the business or because they have passion for it. Their main issue is that they are too focused on profit. They will just say "this business is paying" and without thinking twice, they will just bring out their money and invest, without making any necessary research about it or have experience of the business, and they are not even ready to learn, the only thing they have is capital.

We see this a lot with bitcoin and other online investments. Once people hear that someone made money from it, they will rush in. Some even borrow money while some sell their properties just to invest, and once the market didn't work for them they started unnecessary complain which caused by their ignorance.

[Ab de villiers]

Op any business that'a not competitive the. Such business has no value, if a business has a good value many people will definitely do it, not minding how many people are into it. The only thing that can different you from others could be your price and how your package and treat your customers. Every business is doable if the have the right place to start or capital with skill to manage it.

Bitcoin investment is not for untalented people, Bitcoin is for all , anyone can be rich in Bitcoin investment it's open for everyone depend on how you approach it, to have money to invest in Bitcoin show that people has other means of income, Bitcoin investors are not lady people, it's just another form of investment, it doesn't stop anyone from starting a business or improving their skills.

If you do not develop your talents or develop them, then because of this you may be attracted to things that cannot be beneficial for you. Due to this, you cannot use your true potential. Allah has given every person some or the other talent. If they do not find their talent and do not work on it, then you do not know what to do. This can harm you because you do not recognize your talent. Due to this, you may get busy in wrong things and waste your time. Later, a person will regret that if he had worked on his talent, he would have been successful today. Sometimes people are not happy because they improve the work of others instead of repairing themselves. If a person recognizes his talent and works on it, then confidence is created in him. But if a person does the work in which he is interested, then only then can a person be successful.

[MRY]

All this will make your business be special in the eyes of your customers since you will be focused on how to serve your customers. It is not required that you absolutely possess a new idea never done before, you just have to operate your business with passion. I firmly believe that it is because of convenience that customers continue to come back. Offer optimal experience to all the people that purchase your products today.

Passion alone isn't enough many other factors need to be considered to prevent losses or business decline. I believe everyone who runs a business does their best, but on the other hand, we also need to consider other aspects of running a business.

A well-managed business will yield good results, and running a business is actually easy, but not easy, because we must be smart in the competitive environment.

I agree with you that customer satisfaction is one of the factors that keeps customers coming back to us. Providing the best service and quality products will ensure customer satisfaction.

Indeed, managing a business involves planning to prevent losses. Enthusiasm is not enough to be successful without working strategy. Excellent service is one of the factors in customer maintenance. I believe that quality of the product and service can form the basis of a business that endures. In putting emphasis on these, will produce highly stable profits on monthly basis.

[CryptopreneurBrainboss]

The only time it may be OK to do similar businesses is if the original businesses aren't living up to expectation such as delivering good quality products/services. Or if the original are becoming too crowded, congested, slow and overwhelming to the owners. Or their products/services have become unaffordable or more expensive due to low supply and high demand

There are many successful businesses today that they aren't original thoughts instead they are just copy of something that already works. A lot of things that we consider new innovations aren't original but again they are only copy and paste and this should answer your question as you don't necessary have to invent something new but as far you can do something better then you should go ahead and do it. If you think that the business is already successful and it does not need any competition then you don't have a business mindset, although money should not be your only motivation to go into a business but it should at least be something you make while running that business as running a business in losses isn't good for a business to sustain itself.

[slapper]

You are doing wrong when you enter into any business venture without adding any actual value but you are driven with the assumption of the potential profits which means you are looking to where to invest and only capital you have is money without intellectual knowledge or experience of the business, we find this kind of people not only I bitcoin but all other business in real life where people rush in because the potential profits.

seriously, this is one of the biggest problems we have today. A lot of people just enter into business because they are seeing others making money, not because they understand the business or because they have passion for it. Their main issue is that they are too focused on profit. They will just say "this business is paying" and without thinking twice, they will just bring out their money and invest, without making any necessary research about it or have experience of the business, and they are not even ready to learn, the only thing they have is capital.

We see this a lot with bitcoin and other online investments. Once people hear that someone made money from it, they will rush in. Some even borrow money while some sell their properties just to invest, and once the market didn't work for them they started unnecessary complain which caused by their ignorance.

Opening a restaurant if you do not know how to cook, you do not understand margins, you never managed staff, yep, that is a pain in the ass. No debate. Bitcoin, however, is not a business. It just is not. Buying bitcoin is closer to making a monetary choice than a business choice. It is related to where you wish to keep your value over time. But that does not mean you need to "add value" to anything. Because, what would that even mean? You do not add value to gold either. You make up your mind about it, or you do not. The people selling property and borrowing money to chase pumps though. Yeah. That is something else entirely.

There, though, I doubt if it is just the ignorance. Some of them have a clear understanding of what bitcoin is. They have seen the charts, read the threads, and know what they think the halving cycle is. All they are missing is emotional control. Thus, calling both of them "ignorance" kind of flattens the conversation in a way that I do not think helps anyone.

Who decided what counts as "intellectual knowledge" for bitcoin anyway? The first users were anonymous forum posters and cypherpunks. Not your average MBA students. Sometimes the people who "do not know what they are doing" are just early.

[justdimin]

Opening a restaurant if you do not know how to cook, you do not understand margins, you never managed staff, yep, that is a pain in the ass. No debate. Bitcoin, however, is not a business. It just is not. Buying bitcoin is closer to making a monetary choice than a business choice. It is related to where you wish to keep your value over time. But that does not mean you need to "add value" to anything. Because, what would that even mean? You do not add value to gold either. You make up your mind about it, or you do not. The people selling property and borrowing money to chase pumps though. Yeah. That is something else entirely.

There, though, I doubt if it is just the ignorance. Some of them have a clear understanding of what bitcoin is. They have seen the charts, read the threads, and know what they think the halving cycle is. All they are missing is emotional control. Thus, calling both of them "ignorance" kind of flattens the conversation in a way that I do not think helps anyone.

Who decided what counts as "intellectual knowledge" for bitcoin anyway? The first users were anonymous forum posters and cypherpunks. Not your average MBA students. Sometimes the people who "do not know what they are doing" are just early.

One has to realize, even if you are the greatest cook in the world, like better than Gordon Ramsay, and you also went to college and graduated from accounting, none of it guarantees you to have success. Sometimes, we have to accept that business is based on luck as well, sure not all of it is based on luck, but it does play a role.

So let's say you started a restaurant, and you spent 100k on the place, and then you hired the best chef, and also spent 100k on marketing. If it doesn't work, it doesn't work, there is no guarantee that you will be suddenly super rich because everyone wants to come in and there is a line out the door. You could literally have a place nobody shows up, it does happen and its not impossible.

[Sticky Bomb]

The only time it may be OK to do similar businesses is if the original businesses aren't living up to expectation such as delivering good quality products/services. Or if the original are becoming too crowded, congested, slow and overwhelming to the owners. Or their products/services have become unaffordable or more expensive due to low supply and high demand

There is always room for competition, competition forces the older business to live up to expectation or face clients loss to competitors. Competition drives creativity, better products being available and clients prioritized. If the newer businesses are of low quality or creativity, then they would not get patronage as they cannot measure up to existing ones, but in a situation where they are stealing the older businesses clients, then it says one thing, they are delivering quality products and/or services with a unique niche that interests clients, so the older companies needs to level up to dominate or phase out into history.

[junder]

Indeed, managing a business involves planning to prevent losses. Enthusiasm is not enough to be successful without working strategy. Excellent service is one of the factors in customer maintenance. I believe that quality of the product and service can form the basis of a business that endures. In putting emphasis on these, will produce highly stable profits on monthly basis.

One of the things that needs to be considered is the way we must be able to maintain our own customers we must provide the best for our customers in order to make these customers comfortable and return to us because they have put their trust in us. I've experienced it where I already feel comfortable and believe in food products, but over time maybe because they sell hard they make changes in terms of portions ayang become less, honestly this makes me less satisfied and maybe who feel this is not my own but with other customers may also feel it.

[coinrifft]

There is always room for competition, competition forces the older business to live up to expectation or face clients loss to competitors. Competition drives creativity, better products being available and clients prioritized. If the newer businesses are of low quality or creativity, then they would not get patronage as they cannot measure up to existing ones, but in a situation where they are stealing the older businesses clients, then it says one thing, they are delivering quality products and/or services with a unique niche that interests clients, so the older companies needs to level up to dominate or phase out into history.

Competition is good because you are going to be force to give good services to your customers, otherwise you will lose in the end. However, if the market is saturated already, sooner or later you have to re-invent yourself if you want to stay relevant.

That's why there are business that survived in the long run, while others die because they can't adjust and evolved. Good example is the mobile phone business, Nokia was one of the top cell phone at some point in time. But they disregard the competition and they didn't think that they cannot be overthrown in the top. But Apple and Samsung take over the market and they slowly die.

[dezoel]

Honestly speaking good marketing can attract people's attention, but can not keep customers forever if the product do not deliver. People can buy once because of attractive advert or hype, but if the quality disappoints, they will not come back again. In this digital era, businesses needs both product and a strong marketing that Will truly solve people's problems. Social media algorithm can help brand grow faster, but it's good reviews, customers satisfaction and consistent quality that helps a business to remain successful over time. At the end of the day, the best marketing is when a satisfied customer recommends your business or product to others

In todays world, building something that can last generations is not what people are after I am afraid. Because they are living a bad life, where we are all in debt and living very poor life and sometimes you worry about what food will come next because you have no money left. In that world, you do not care about quality, you do not care about people coming back, all you care about is making a few bucks so you can save the day.

If I can build a business, that pays me 6 months of salary, plus pay of all my debts, but then bankrupts, I will still be very happy.

[gracreavix]

Copying most times don't actually reduce value. What copying does is to improve on an existing product. Everyone will normally shift to business that will give them returns well. That's the whole essence of business. But one unique thing to point out is that talent is not really the issue here. Problem solving is. One may not have talent, but when a problem is being solved, he or she gets paid for solving that problem if turned up to a business. But at the end of the day, skill will always beat talent.

[MRY]

In todays world, building something that can last generations is not what people are after I am afraid. Because they are living a bad life, where we are all in debt and living very poor life and sometimes you worry about what food will come next because you have no money left. In that world, you do not care about quality, you do not care about people coming back, all you care about is making a few bucks so you can save the day.

If I can build a business, that pays me 6 months of salary, plus pay of all my debts, but then bankrupts, I will still be very happy.

In the current world, survival is really a tough demand in the form of very realistic decisions. It is commendable that the needed solution to get out of debt was to create a business. Being free of debt will make you have a lot more breathing space. There are instances when even minor successes in raising your living standards at a certain moment are much more significant than putting your future in big plans.