Must everyone venture into business?

[programmer3666]

You don’t just rush and open a business because you have got the money, you have to go learn the business from people that has been successful in that line of business for long, so you learn how to run the business when you finally open your own. The mistake most people do is just rushing out to open their own business without first gaining the knowledge about how that business works. Anyone can run a business, provided they are willing to learn about the business first.

Encouraging people to learn from successful bosses is a smart and brilliant idea but we should also acknowledge the fact that a whole lot of successful people will hardly or almost never share their true money making secrets with you. In reality of things and in the business world nobody will love to train their future competitor. The only way to gain absolute business knowledge is through experience so just jump into the market with your own little capital and make your mistakes and learn from them. Sitting in a classroom or being an apprentice for years will just hold you back, while the fast risk takers will keep forging ahead.

[Bluedrem]

To be honest, nowadays it becomes difficult to fulfill the basic needs with the money that can be earned through a job. So people try to find an alternative source of income, in that case they search for all the businesses that can be done along with their jobs, many times they start a business with little capital, in that case I have seen many people succeed from here. I know of some people who consider business as a second source of income, but at some point they are using this business as their main source of income, leaving their jobs behind.

[Humblevirus]

Actually this question is a bit weird knowing that lot of people are looking for a diverse way of earning an income, whereby they would be looking for business to do in other to sustain themselves. But one question I keep asking is that “must everyone venture into business“?

The reason why I draw this question was as a result of someone I knew too well that wasn’t able to maintain the business he owned. Every two years he kept jumping from business to another yet no results to show up about becoming successful through that business.

What contribution you would you give to someone like this?
The floor is open for discussion.

Most people do not have alternative ways to increase their sources of income, and that is the reason why many people go into business. Even when they fail in one particular business, they continue to try another business.If most people had easy alternative ways to increase their sources of income, it is very possible that most people would not be going into business, but rather, they would choose other ways to make money.In many places, if there were places where people could work hourly, if someone finished at their main workplace, they would likely just go there to work. But there are not many places like that. As a result, businesses have been the only other option for many people, especially those who are living in underdeveloped nations.

The reason why many people fail in business is because they are not properly prepared. They do not follow the necessary steps they need to follow before starting a business or even after they have started one. For example, they may not choose the proper location for their business or they are selling their things to people on credit without having proper plan on that,the business will likely run down.

[puloweh555]

Actually this question is a bit weird knowing that lot of people are looking for a diverse way of earning an income, whereby they would be looking for business to do in other to sustain themselves. But one question I keep asking is that “must everyone venture into business“?

The reason why I draw this question was as a result of someone I knew too well that wasn’t able to maintain the business he owned. Every two years he kept jumping from business to another yet no results to show up about becoming successful through that business.

What contribution you would you give to someone like this?
The floor is open for discussion.

No, clearly not everyone has to dive into business. Because many people sometimes are actually more suited and successful as employees, professionals or skilled workers in services because they have the talent.

So in business usually we are required to be more focused like having specific knowledge, capital, time and high patience. People who often jump from one venture to another without mastering a field usually just end up facing repeated losses like your friend did. Also, when someone keeps changing businesses, they might just have the desire to make quick money without a strong foundation. The advice for your friend is that they should recognize their own strengths and choose the path that suits them best rather than forcing themselves into the business world.

[MorganaX]

The truth about this is that not everyone has what it takes to venture into business and the reason for that is because starting a business involves not just capital which is important but also patience and consistency as well, this is something that most people don't have. It is very difficult to do business because you can put in a lot of capital into it and then wait for more than 6 months before you actually start seeing returns, this is how difficult it is and a lot of people are not caught out for that.

[DYOR+BTC]

I think it is something very much important for someone to go into a business, and that is if you really want to get financial relief. Even if you are working somewhere, starting your own personal business can be very useful. Every business has a secret, and before you venture into anyone, you really have to take proper feasibility study before engaging in any form of business, and without proper analysis of a business, one can easily get confused, and eventually give up with time. In the case of these your friend, not as if he can not do a business but what he needs is some orientation. Before starting any business, it is important to know your targeted customers within the area you want to site the business, this is very important because any business lacking petronage will never succeed.

Business orientation is a perfect primary procedure required for establishing any business as it will help educate and improve once knowledge on that particular desired business choice. Business is one of the best step required for gaining financial freedom in life,  although to an extent many dislike it but it is so before they don't have the orientation and required knowledge for establishing that specific type of business.
Behind every successful man or woman,  there must be a secondary source of income which is business, so its of great importance getting involved in any desired kind of business because it is very helpful in this present economy.

I agree with you. It isn't enough to simply start a business to become financially independent. Before starting in business it is important to have a clear idea of which business is suitable the risk the amount of capital needed and the long term viability of the business. Many individuals get into business without much knowledge and planning only to lose their investment and get demoralized. I think it's even more important to get real world, small scale experience in business learn the market and create a plan that fits your ability before you start a business. A business can be a great alternative to earning money but if not prepared it can cause a lot of financial risk.

Yes lack of preparation is a very serious challenge that most never be neglected in business, starting a business is one thing the other is getting prepared in what to do at any point in time.
Before choosing a business it will be advisable making all necessary preparation to identify one's weaknesses and strength because that is the easiest way of coming out successful in business.  Of a truth business is a very good option to consider,  but it must be with a well organised preparation to help stand against any challenges that may come our way on the process.

[Ryu_Ar1]

Actually this question is a bit weird knowing that lot of people are looking for a diverse way of earning an income, whereby they would be looking for business to do in other to sustain themselves. But one question I keep asking is that “must everyone venture into business“?

No, everyone does not have to do business because when all do business then certainly the economic turnover will not run well besides that we know even though there are a lot of people who try to do business but when it does not have the blood of business then it also will not work.

I've done some business especially for the food and basic needs sector but because I don't have business blood sometimes forcing things that really can't be forced is difficult.
Don't think I give up easily but I am quite realistic because I realize that sometimes being a businessman is not only having capital and determination but this requires many things including in terms of mental so I don't think everyone should do business and I will be one of those people who are not on that road and looking for other alternatives to get income.

Profits that have always been an expectation may always be an initial intention we do business because we will be the boss for ourselves but it seems too beautiful to say but too difficult to do for some who do not have the blood of business in them.

[coupable]

The reason why I draw this question was as a result of someone I knew too well that wasn’t able to maintain the business he owned. Every two years he kept jumping from business to another yet no results to show up about becoming successful through that business.

What contribution you would you give to someone like this?

I believe a person should think about the good things in the previous investment and its shortcomings before deciding to switch to a new venture. If mistakes aren't learned from and corrected, then the same mistakes are liable to be repeated over and over again.
It is always important to remember that you don’t need to have a business to have the highest level of success. Some manage to build a stable life through work or do the routine work of any other worker in any industry.

[Pi-network314159]

The reason why I draw this question was as a result of someone I knew too well that wasn’t able to maintain the business he owned. Every two years he kept jumping from business to another yet no results to show up about becoming successful through that business.

What contribution you would you give to someone like this?

I believe a person should think about the good things in the previous investment and its shortcomings before deciding to switch to a new venture. If mistakes aren't learned from and corrected, then the same mistakes are liable to be repeated over and over again.
It is always important to remember that you don’t need to have a business to have the highest level of success. Some manage to build a stable life through work or do the routine work of any other worker in any industry.

You are actually right, doing a business requires you to continue without switching so that they can learn the the mistake and adjust or correct it in the near future instead of running away from it and look for another business. I think this is the major challenge among those business men that jump from one business to another. It is easy to start business but how to be able to continue and learn the risk involved and how to mitigate it is where the problem lies. Business is all about passion, the passion for the business is what keeps them
going and not given up regardless of the challenges they pass through.

[Smartvirus]

To be honest, nowadays it becomes difficult to fulfill the basic needs with the money that can be earned through a job. So people try to find an alternative source of income, in that case they search for all the businesses that can be done along with their jobs, many times they start a business with little capital, in that case I have seen many people succeed from here. I know of some people who consider business as a second source of income, but at some point they are using this business as their main source of income, leaving their jobs behind.

It’s absolutely okay to venture into business as an alternative, given that the cost of living is rising everyday, working a 9-5 doesn’t provide the money you would need and people don’t have the time to work a second job which wouldn’t pay as much anyway. The way out has always being trying to run something of your own, something you can control and something that doesn’t have a fix pay. You just have to be good at it.

[LogitechMouse]

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What contribution you would you give to someone like this?
The floor is open for discussion.

Everybody can venture into business.
Everybody can try and build their own business.
There are no restrictions to it, but let's not forget the quote when it comes to business. "Everybody can build their own business, but not everybody can be successful businessman."

I admit that I'm not a business-minded person, and I also believe that there are many out there who doesn't know that they aren't fit to build their own business. Sure anybody can try, but always expect for the worst possible scenario. A quick search shows that 50% of the small businesses fail in their first 5 years, and in some categories, this might be higher or lower depending on some factors. Let's not also forget the possible stress that you can get while maintaining your business, and if you're not ready for it, you're not ready to be one.

As for the one you know, I don't know about this one, but I think it's better for him to just partner with some starting businesses out there instead of building his own, or maybe invest it on different assets out there.