Business Suggestion needed, ready to invest

Discussion in 'Growing and Managing a Business' started by mcpraveenkumar, Sep 15, 2014.

  1. mcpraveenkumar

    mcpraveenkumar
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    Hi All,

    I'm new in here, registered today. I want to start my own manufacturing/Industry. Looking for opinions, suggestions and thoughts on which product to choose. Which line of business is a steady and stable one ?
     
  2. Mark Robinson

    Mark Robinson
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    I will suggest you clothes business as this is very popular business in the world and it can never fail, but you have to do much hard work to establish this business. You can also work in food industry. It is also very popular business.
     
  3. daytrader

    daytrader
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    Food sound better for people eat. We can't afford not to eat in hours. If I would have to this will be where i'd invest, a bakeshop or a restaurant on a strategic location.
     
  4. Joseph.Shivell

    Joseph.Shivell
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    There's an old saying that says, "Find something you like to do, and you'll never work a day in your life". Mark and ownedbox have given you good suggestions, but the question remains "what are you interested in?". Years ago, my brother was interested in gas-powered remote control cars, so he startted a website devoted to gas-powered remote control cars. It doesn't exist anymore, for reasons that have nothing to do with his level of interest in the cars, but he started it because that was what he was interested in, so he was more likely to enjoy working. That also leads me to another question. Do you have the knowledge, ambition, and resources to keep the business going? If your business is related to something you like, you are more likely to be willing to do what is necessary to keep it alive.
     
    #4 Joseph.Shivell, Sep 15, 2014
    Last edited: Sep 19, 2014
  5. CoolHandCol

    CoolHandCol
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    I disagree. The most common business mistake is starting a business in something you are interested in. Most of the time there is not enough of a business and the owners judgement is clouded because it is also his hobby
     
  6. MikePeterson

    MikePeterson
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    Hey, first think that which type of business you want to do, means whether it will be online or not. According to your preference make a strategy for business and select the product or resources for which you want to do a business.
     
  7. Joseph.Shivell

    Joseph.Shivell
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    There have been instances where people have turned a hobby into a business, but that brings up another business rule - Find a need, then fill it. There have also been products that have been created that are new, that no one ever thought they needed, but once they bought it, they wondered how they ever got along without it. You do, however, bring up a valid point. Before you actually start a business, do some research to find out if there would be enough customers to sustainthe business over an extended period of time.
     
  8. LeroySimpson

    LeroySimpson
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    Find the need of the customer or user according to that make your related strategy for establishing your business. If you had already decided that in which resources you have to start your business then it is better to check or to do a survey about that resources that you are going to start.
     
  9. SteveWilliams

    SteveWilliams
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    I agree. Notice, social media sites nowadays are full of advertisements mostly about shoes and apparels.
     

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