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Discussion in 'Growing and Managing a Business' started by daytrader, May 1, 2012.
when did you conclude that the business you're in is really the right business you've gotten into?
If my business brings money to me, it's a right business for me and I will go on doing this. As soon as I feel that my business is non-profitable, I will try to find something else immediately.
which business are you into?
I have also felt that way when i got into forex months ago. but these few days, i lost hundreds when it seem like all my positions went bad. I still got my websites up though. and i think I'm gonna have to stay in my adsense business till i can figure which way I'm going later.
Consider these things when you're going to start a business.
Choose a business with low start-up costs. If possible, start your business in your home.
Purchase second-hand or rent equipment or furniture.
Do industry research and follow market trends.
Check out your competition and try to determine what you can offer that will make customers choose you over the others.
Join your local Chamber of Commerce or local industry group. You will find both customers and peers that will benefit your business.
Treat your customers like royalty. Go the extra mile for your customers. Your customer relations will encourage people to come back and spread the word about your product.
Market aggressively. Make customers think they need your product.
Be sure to give your marketing strategy careful consideration for optimal results.
you gotta do research. If you concluded that the business have good potential after research, then that's the business you can go into
It become the right business when I am enjoying it as well as growing my business well in my chosen market/industry.
If you going to be new business than first you decide your business because in now days there are best two businesses, one is real estate and second is furniture development in real estate, both are well growing businesses.
The feeling of passion. You do your business in easy ways and you always manage to get your business going. You are able to create ideas in simple manners and does not stress you so much. It is quite hard to know what business you are actually into - but knowing that it is your passion, your interest says it all.
Every one has dream that he make own business or he can do business.. But in meter to how will i start? And which product should i start? the most important is the finance? Without it not start... And if business give me so much money or name. Than why should i go next... I love what to i do n i am doing my business. And it's going good so far...
as long as i make a decent amount of money then thats what i stick with
so actually its all about money@
Below is my personal measurement:
1. Cost and income - is the business profit
2. Effort - How many effort I need to spent to get that amount profit.
3. Duration - How long can get the money. Supplier business require to deliver products first, then only collect payment in 2-3 months later. This may freeze business capital.
4. Superman business - is the business only you can do it, others people hardly continue it? e.g. if you are a art and craft architecture, the moment you fall down others hardly continue.
5. expansion - is the business potential to franchise and branch.
6. Is the business risky?
i am working in a accounting firm
For me it is very simple, i always consider the demand of the market, if the demand is high, then i will work out on the cost study to see whether it has potential to generate good profit to me. If yes, then i will go ahead
Well I think if the business really gets a lot of profit then I will consider it is mine and it is the right business.
I have also felt that way when i got into forex months ago. but these few days, i lost hundreds when it seem like all my positions went bad.