Are you tired of listening to others? Are you tired of taking orders? Do you wish to become your own boss? Well, if this is the case then you definitely have a soul of an entrepreneur residing within your body.
Yes, the idea is tempting to quit your job and
to start something of your own. However, things are never this easy. In fact,
if you look at the stats, then you will realize how difficult and challenging
it is to startup and sustain a business. Around 40% of the businesses fail
during the first year and almost 90% of them do not live to see the light of
the day after a decade. So, to put it simply, the stats are clearly telling us
about how difficult it is to create a business and keep it running.
Now, whenever you will think about starting a
business, you will have your own barriers. Some people have responsibilities,
which they have to fulfill, and starting a business would mean putting those
responsibilities at risk. Some people have steady jobs and while most people
love the idea of working for themselves, when it comes to quitting, they simply
cannot do it. The fear of not being able to make a steady salary is enough for
most people to let go of their plans.
Starting
a Business & the Risks that come with it
Let’s say you have an amazing idea to start your
business. However, it is just in your mind. Most people make the mistake of not
getting it down on paper. Therefore, they simply cannot comprehend the risks,
which they will have to face during their initial stages. Furthermore, not
writing everything up will also make you oblivious to the fact of the
shortcomings in your plan.
Now, if you are starting your business
without adequate planning, then you are simply jumping into a sea of
opportunities like a blind person. You wouldn’t be able to see any of your own
weaknesses and not being able to see your own weaknesses will lead you to make
bad or wrong decisions.
Risk is another name for a business. Without
risk, there are no profits. The higher the risk, the higher are your chances of
becoming successful. Now, this does not mean you do not try your best to
minimize your risk by planning everything to the dot. Having a contingency plan
for when things may not go according to your plan because they often don’t, is
one of the most important things you can do to make sure that your business is
a total success.
Furthermore, you will always be told to come
up with something new. You need to work on a new idea, something that no one
has ever thought of before. As amazing as it may sound, it is extremely difficult
to pull something off like this. See, with a new idea, being a pioneer in the
market will also make you see a lot of the problems, which you might not have
planned about. Yes, you will get the first mover’s advantage and you can charge
a lot of profit for it too but, the burden of making it successful also falls on
your shoulders and if you are going for something like that then you better
roll up your sleeves and buckle up because it will be a bumpy ride.
Few
Amazing Tips to make business Easier for You
Forget Manufacturing & Focus on Trading
Trading has always been one of those
activities, which has helped the world to survive. Therefore, there will always be going to be a place for trading in the world. People will always need to
fulfill their needs and wants and you will always have an opportunity with
trading to satisfy their needs. However, what you need to do is focus on
international trading rather than manufacturing something.
All you need is an account on a b2b website
such as Eworldtrade, Amazon, or eBay and you can buy or
sell anything in the world. You will have access to millions of buyers and
sellers, who are willing to trade on these websites just as much as you are.
Why should you go for international trading and not manufacturing? Well, if you are starting a new business then you need to play it as safely as possible. With manufacturing, there is always the risk of not being able to make the perfect product. Even after making the perfect product, you still might not be able to spend as much as it's needed in marketing for it.
However, using an online trading platform for international trading,
you can easily ensure the trading of any product you want in bulk quantities,
which can help you make a decent profit easily.
Work on Someone Else’s Idea
Coming up with innovation and creativity is
not wrong or bad but when it comes to paving a safe way in the business world,
working on something entirely new can be much riskier than simply working on
something, which has been tested before. Being a fast follower is much better
than taking the first mover’s advantages. Even being a late mover is better
than moving first in the market.
If you have limited resources and if you know that you are not capable of sustaining a loss then why gamble on an idea, which no one has worked on it before? If you think that, your idea is amazing, which it must be, then you need to hold it until you have the resources to make it happen.
Using an idea, which is tried and tested by thousands of entrepreneurs before you will allow you to gain experience in the business world along with earning a profit as well. You will be able to gain confidence about being able to make something work.
Once you think you have enough money or investment to sustain the losses, which are joined together with running a new business idea, then you easily work on it.
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