Pages:
Author

Topic: Building a prosperous business - page 5. (Read 1035 times)

hero member
Activity: 2940
Merit: 627
Vave.com - Crypto Casino
July 27, 2023, 08:51:32 AM
#67
Building a prosperous business is not an easy task because it is tactical requiring on what to invest on based on people's demands, how and where to invest and trade to attract and acquires and to retain customers of patronages.
And it's not going to become prosperous at its beginning. Establishing it is going to take a lot of time and tests and trials. Defining it prosperous will based on how the results will be and how it's going to be stable.

Before investing you should have an aside finance that would help you with some personal essential needs and don't believe you would so quick going to prosper budgeting your income to solve your problems at your kickstart.
I agree, those that are into investing should have other support so that if ever their made investment will fail, there's another source which it can help to survive. That's how you do investment so that if you've got an investment that you're believing and it's not doing good and needs some refinancing, you've got its back through your other business/investment.
hero member
Activity: 2548
Merit: 578
Next Generation Web3 Casino
July 27, 2023, 08:09:59 AM
#66
Of course having funds is a really great advantage when you are starting a business. Not only will you have more than enough funds to set up everything your business needs, you will also be able to have marketing projects that will surely attract customers faster. There are many ways to get funds, but you need to be smart in using those funds.

Even though there are many ways to get funding to be able to run a business along with a marketing project, I don't think everyone can have the ability to get initial funding to start their business and marketing projects. Unless some of them get help from other people in certain ways so they can have capital at first, because seeking capital from the bottom is not an easy matter for everyone even though everyone's desire is to develop a business in their life.

Actually, what you said is also true and not wrong at all, because everyone must have the ability to manage and use all the funds they need for business purposes, but this can only be done by those who have received raw funds to start with. As for those who still have to struggle from scratch, I think they still need to find fresh funds while learning how to manage it well enough so that the business can run according to the plans they made or arranged beforehand.
hero member
Activity: 1344
Merit: 738
July 27, 2023, 07:13:40 AM
#65
Let your purpose of establishing a business be on solving a problem not just to make money.
Why hide behind words and run a business basically to create a much better income and that's how we can make money.

If your reason to creat a business is to make money, you may get discourage within months if good profit weren't made. Establishing a prosperous business isn't easy, there’s a lot that goes into it. As you begin your business journey, keep these tips in mind, focus on planning, and take the time to test as much as possible. The more you prepare upfront, the more likely that your business will succeed.
That's the actual process that occurs, setbacks and ups and downs in managing a business is something that usually happens when we first start out because no one can be successful without struggling through this long process. Focus, planning, strategy, promotion are parts that cannot be separated from the business we live in, when we are able to be patient and always consistent, in the end we will produce the best.

It's not easy to do all that and not everyone is able to live it, but whoever is able to be patient and stay consistent, then they will enjoy the results. It is important to see the accuracy of the business we are in and most importantly we must master the market before running the business.
full member
Activity: 322
Merit: 146
July 27, 2023, 07:00:07 AM
#64
Building a prosperous business is not an easy task because it is tactical requiring on what to invest on based on people's demands, how and where to invest and trade to attract and acquires and to retain customers of patronages.

Before investing you should have an aside finance that would help you with some personal essential needs and don't believe you would so quick going to prosper budgeting your income to solve your problems at your kickstart.

Your cautiousness readiness to lost with a satisfactory priority to gain would engineers you to fit bridge the downfall of your investment.

You must stay creatively efficient and updated to the marketing skills and be endivoired to goods and services provision at all cost of demands.

Enhance and to broad your products never to settle for less with considering that most customers wants to purchase a related items in a particular unit.


legendary
Activity: 3276
Merit: 2442
July 27, 2023, 06:20:15 AM
#63
I can tell you that owning your own business feels amazing. I know it because I own a business which prints money. It gets tiresome sometimes but at the end of the day nothing beats it when I pop a cold beer while counting my profits… Ok maybe having fun with girls in the middle of the ocean beats it but let’s just say this is the second best feeling a man can experience. Working for somebody else is a dead end. Always start your own if can.
legendary
Activity: 3542
Merit: 1352
Cashback 15%
July 27, 2023, 06:04:35 AM
#62
Even before getting into it and start following the above points one should have basic component at their hands called as “funding”. Depending on the nature of business one needs to decide funding prior to planning an idea to make it reality. This is important because adjusting funds after getting into funds could be disaster or in other words it could bring unwanted struggles on our way. I have seen this example very closely with relatives. It’s another fact that they managed to pick up a speed after bank approvals went through and they had money to spare. Rest is obviously what you mentioned in the article is all about step by step workflow to successful business.
Of course, it must be recognized that funding is essential before any business venture can be consulted. When a person makes a plan to start a business he must first raise money, and plan afterwards. of course, you are right, basically in business, it is never possible to go ahead with a loan from the bank, many times it poses a huge danger. However, in the first case, if he does business with money from a specific fund instead of taking money from the bank, then it is possible to move forward in the future. and moving forward step by step must depend on something good, so before starting the business, various plans must be made seriously.
There is only a few business that money doesn't really matters but if you have money, especially a nice amount, you will gain more advantage. There are some who just look for a partner or run a funding campaign and ask the public to invest on them. This might be a good idea to gain funds.

Another way is to get a loan although this one seems risky because we are not sure yet if our business will be successful or not. As on what I've noticed, only those business who are already big are the ones who take a loan but for me, I think it's not necessary anymore. Planning should still come first before anything. It's like our map so that we won't get lost in our destinations.

Of course having funds is a really great advantage when you are starting a business. Not only will you have more than enough funds to set up everything your business needs, you will also be able to have marketing projects that will surely attract customers faster. There are many ways to get funds, but you need to be smart in using those funds.
legendary
Activity: 2520
Merit: 1073
July 26, 2023, 04:12:39 PM
#61
Even before getting into it and start following the above points one should have basic component at their hands called as “funding”. Depending on the nature of business one needs to decide funding prior to planning an idea to make it reality. This is important because adjusting funds after getting into funds could be disaster or in other words it could bring unwanted struggles on our way. I have seen this example very closely with relatives. It’s another fact that they managed to pick up a speed after bank approvals went through and they had money to spare. Rest is obviously what you mentioned in the article is all about step by step workflow to successful business.
Of course, it must be recognized that funding is essential before any business venture can be consulted. When a person makes a plan to start a business he must first raise money, and plan afterwards. of course, you are right, basically in business, it is never possible to go ahead with a loan from the bank, many times it poses a huge danger. However, in the first case, if he does business with money from a specific fund instead of taking money from the bank, then it is possible to move forward in the future. and moving forward step by step must depend on something good, so before starting the business, various plans must be made seriously.
There is only a few business that money doesn't really matters but if you have money, especially a nice amount, you will gain more advantage. There are some who just look for a partner or run a funding campaign and ask the public to invest on them. This might be a good idea to gain funds.

Another way is to get a loan although this one seems risky because we are not sure yet if our business will be successful or not. As on what I've noticed, only those business who are already big are the ones who take a loan but for me, I think it's not necessary anymore. Planning should still come first before anything. It's like our map so that we won't get lost in our destinations.
legendary
Activity: 1638
Merit: 1036
6.25 ---> 3.125
July 23, 2023, 09:30:44 AM
#60
Starting a business may seems easy but this come with alot of challenges which includes the ability to survive after being established.

Some people just start a business because they want to have a business.

This isn't enough point to start a business because a business based on this may collapse with time. When starting a business, you must put in mind that you want to solve a problem. It may be community, country or world problem. This various company have been in existence to solve various issues among people.

I don't think anyone thinks that starting a business is easy, at least speaking locally. I don't see anyone trying to start one of their day job, or preparing to take a leap of faith. I think that the reality is that people are scared to start a business, and those who think it is easy and do so without a plan are just idiots, destined to fail and learn from their mistakes (maybe, for the better, maybe not).

🗝️🗝️Be passionate about your business idea🗝️🗝️
Take action immediately an idea is been gotten. Another person may have thesame idea you have just gotten in mind. Getting into market before him/her may be an advantage.

🗝️🗝️Determine if there is a viable market for your idea🗝️🗝️
Don’t launch without testing your idea. Idea may look great to friends and families but this doesn’t guarantee that actual customers will actually love it. You need to determine if there is anyone clamoring for your solution.

🗝️🗝️Don’t quit your day job🗝️🗝️
It isn't a good idea quitting ones job when establishing a business. Instead, start your business off as a side hustle. Do the groundwork of researching and testing while you still have the income to support yourself. If it takes off, look at what financial milestones you need to hit in order to go full-time. If you find that you have the financial runway to go full-time immediately and are willing to take on more of a risk, go for it. Just be sure that you have a backup plan if your business idea fails to gain traction.

🗝️🗝️Prepare a business plan🗝️🗝️
 Creating a business plan early will make starting, managing, and growing your business easier. This is your roadmap for success that you can actively review, revise, and share. Without a plan, you’ll just be making guesses and hoping that you’ll find success.

🗝️🗝️Find the right partners🗝️🗝️
Find the right individuals to work with. This should be individuals with same objectives and goals. Working with the right individuals who complement your skillset will elevate the potential of your business.

🗝️🗝️Track finances early🗝️🗝️
Even if you’re not a numbers person, you need to track your finances. Whether it’s with spreadsheets, accounting software, or an accountant. Your financial statements need to be up-to-date and organized. This prepares you to file taxes, pitch to investors, apply for small business loans, manage credit card spending, and easily track the health of your business.

🗝️🗝️knowing your competitors🗝️🗝️
To improve your chances of successfully entering a market, you need to understand the competition. You should be able to answer questions like:
🧠Who are the key players?
🧠Who is your immediate competition?
🧠What do they offer?
🧠How do they position their product/service?
🧠Who do they target?
🧠How large is the available market?
🧠What are their weaknesses?
🧠Are there opportunities for disruption?
Competitive analysis should be embedded in your initial market research.

🗝️🗝️Pay attention to your legal needs🗝️🗝️
Part of starting a business is completing the required legal steps to turn your idea into a legitimate business. This includes defining your business structure, registering for a tax id and business name, obtaining permits and licenses, and finding out how much you’ll be paying in taxes.

🗝️🗝️Have enough cash on hand🗝️🗝️
Cash is crucial for every business. Without it, you can’t cover your expenses, handle a financial crisis, or grow sustainably. Avoid starting your business with a loan. It doesn't look healthy for a new business. A business can look good on paper without actually being healthy. If cash is on loan, then how do you pay back when business isn't bring good profit at start.

🗝️🗝️Prepare yourself mentally🗝️🗝️
Running a business isn’t easy. You’re responsible for how it performs, the people you hire, the products/services you sell, the culture you develop—the list goes on and on. While you can steer the ship, there are plenty of things beyond your control. Production errors, rising costs, supply chain disruption, competitor changes, souring consumer sentiment, etc. If you aren’t prepared for the challenges that come with the excitement of running a business, you’ll sink. It can lead to excessive stress, long working hours, and financial struggles, among other things which may lead you to being discouraged about the business and may lead to the end of the business. Don't be discourage, instead, look for opportunities to optimize, make adjustments, and grow yourself as an entrepreneur and leader.

🗝️🗝️Be creative and consistent🗝️🗝️
You need to be consistent in the time you invest, establish milestones and metrics for success, and solidify a process for reviewing performance. This doesn’t have to be perfect, but you need to set standards for yourself and your business.

CONCLUSION
Let your purpose of establishing a business be on solving a problem not just to make money. If your reason to creat a business is to make money, you may get discourage within months if good profit weren't made. Establishing a prosperous business isn't easy, there’s a lot that goes into it. As you begin your business journey, keep these tips in mind, focus on planning, and take the time to test as much as possible. The more you prepare upfront, the more likely that your business will succeed.

Reference: https://articles.bplans.com/14-tips-for-starting-a-successful-business/

It's great that you went out of your way to format a post with some decent tips to start a business, there's no doubt that following this set of guidelines can help to at least build a plan to start one. However if you want a tip to make better posts in the future, proof-read your post and fix the spelling mistakes throughout. It is a very small effort to take to make your post a lot higher in quality.
hero member
Activity: 2604
Merit: 816
🐺Spinarium.com🐺 - iGaming casino
July 23, 2023, 06:44:34 AM
#59
To start a business is quite easy but to become successful and prosperous, that is something we need to work hard. Because I would say that business is not just all about having money or capital but having good management and plan had played an important role. Unfortunately, many business starters had missed this thing - with the lack of preparation, knowledge, and ideas, I can say it only fail. That is why I'd see some business owners hire someone to manage their business because they know that they are not capable enough to do it on their own.
And most business owners open a business just following the trends around them. They don't think about how their business can continue even though the trend has changed. Only a few of them can survive the competition and the changing trends.

The business owner can hire someone to help him manage the business but the business owner must know everything from start to finish so that there is no possibility that his employees can do something that is not according to his wishes. But most business owners leave everything to their employees for granted. And that's what makes most businesses unable to survive because the business is losing money.

And before starting a business, business owners should have a plan for what they want to achieve, starting everything gradually and knowing the ins and outs of the business so they can think of ways to promote and grow their business. And it takes hard work, focus, faith and more.
hero member
Activity: 1694
Merit: 516
July 23, 2023, 05:25:54 AM
#58

CONCLUSION
Let your purpose of establishing a business be on solving a problem not just to make money. If your reason to creat a business is to make money, you may get discourage within months if good profit weren't made. Establishing a prosperous business isn't easy, there’s a lot that goes into it. As you begin your business journey, keep these tips in mind, focus on planning, and take the time to test as much as possible. The more you prepare upfront, the more likely that your business will succeed.


I agree with you, running a company with the only purpose of making money is not going to succeed in the same way a company that has a vision. When people only work for money their motivation is not sufficient to survive longer periods of hardship, whereas people that work for a common goal will be more motivated and work harder. Creating our own company is hard work and requires a lot of sacrifice. Longer working hours and less pay during the startup phase are a big obstacle and there is no guarantee that our company will succeed. In case we are only looking for ways to make more money it might be better to stay working as an employee. With more free time and a regular paycheck we can focus on other things, like investing our money and building a crypto portfolio. There are more ways to become rich than by running our own business.
legendary
Activity: 1792
Merit: 1296
keep walking, Johnnie
July 23, 2023, 04:23:52 AM
#57
OP, do you have experience in building a prosperous business? A personal case could be a really valuable source of knowledge, but in this case, it's basically a copy-paste with some rewriting.

~snip

CONCLUSION
Let your purpose of establishing a business be on solving a problem not just to make money. If your reason to creat a business is to make money, you may get discourage within months if good profit weren't made. Establishing a prosperous business isn't easy, there’s a lot that goes into it. As you begin your business journey, keep these tips in mind, focus on planning, and take the time to test as much as possible. The more you prepare upfront, the more likely that your business will succeed.
The goal of any business is to make money, otherwise, it is not a business, but charity. Making money comes from solving problems, that is, the first follows from the second, and not vice versa. If you don't get a good profit (within a few months? why not weeks? Smiley - do you want to earn too fast? Smiley) and you are disappointed, then this is only an indicator of your inept actions as a business leader, and not because of an erroneously chosen goal (to earn money instead of solving problems, as you say).

It is impossible to prepare for a business in advance: in the process, there will still be problems trying to undermine success, which will have to be eliminated as they arise.
hero member
Activity: 2772
Merit: 518
★Bitvest.io★ Play Plinko or Invest!
July 23, 2023, 04:12:46 AM
#56
To start a business is quite easy but to become successful and prosperous, that is something we need to work hard. Because I would say that business is not just all about having money or capital but having good management and plan had played an important role. Unfortunately, many business starters had missed this thing - with the lack of preparation, knowledge, and ideas, I can say it only fail. That is why I'd see some business owners hire someone to manage their business because they know that they are not capable enough to do it on their own.
sr. member
Activity: 546
Merit: 347
Bitcoin Halving Year 🎗️🎭
July 23, 2023, 03:48:23 AM
#55
Even before getting into it and start following the above points one should have basic component at their hands called as “funding”. Depending on the nature of business one needs to decide funding prior to planning an idea to make it reality. This is important because adjusting funds after getting into funds could be disaster or in other words it could bring unwanted struggles on our way. I have seen this example very closely with relatives. It’s another fact that they managed to pick up a speed after bank approvals went through and they had money to spare. Rest is obviously what you mentioned in the article is all about step by step workflow to successful business.
Of course, it must be recognized that funding is essential before any business venture can be consulted. When a person makes a plan to start a business he must first raise money, and plan afterwards. of course, you are right, basically in business, it is never possible to go ahead with a loan from the bank, many times it poses a huge danger. However, in the first case, if he does business with money from a specific fund instead of taking money from the bank, then it is possible to move forward in the future. and moving forward step by step must depend on something good, so before starting the business, various plans must be made seriously.
hero member
Activity: 1008
Merit: 525
fillippone - Winner contest Pizza 2022
July 22, 2023, 04:52:42 PM
#54
If your reason to creat a business is to make money, you may get discourage within months if good profit weren't made. Establishing a prosperous business isn't easy, there’s a lot that goes into it. As you begin your business journey, keep these tips in mind, focus on planning, and take the time to test as much as possible. The more you prepare upfront, the more likely that your business will succeed.
Find out if business is really for you or not because not everyone should be in business and not everyone should start a business. You can have a great business idea that will work, but for it to work, you do not always have to be the manager. If you try to manage a business with your poor business skills, you will fail in the business even if it is a great idea of a business to start. Apart from having the idea for a business, know if you can handle it well or if you should pass that responsibility to someone else so the business can work.
Everyone is meant to have there own business if I'm not mistaking but the challenge is that the fund might not be there to start a business since the inflation is making more people to be poor than what we are seeing now. If we want to invest in a business, we need to have a proper plan before even deciding whether we have what it takes to do that kind of business.

There are some business that need a particular location for it to be successful and if we make a mistake not going for the right location for the kind of business we want to do, we could end up not having the kind of customers that we are looking for making the business to crumble.
legendary
Activity: 3080
Merit: 1593
#1 VIP Crypto Casino
July 22, 2023, 03:01:34 PM
#53
Creating a prosperous business is tough, so many try & fail. It requires careful planning and execution. Start by identifying a profitable niche and conducting market research to understand your target audience's needs and preferences.

Think about how to develop a solid business plan that outlines your goals, strategies, and financial projections. Build a strong team with skilled and motivated employees who share your vision.

Focus on delivering exceptional products or services and continuously seek feedback to improve. Invest in marketing and advertising to create brand awareness and attract customers. Maintain a strong financial management system and adapt to changing market trends. Finally, nurture customer relationships and strive for continuous innovation to ensure long-term success.
sr. member
Activity: 1428
Merit: 344
July 22, 2023, 01:25:56 PM
#52
If your reason to creat a business is to make money, you may get discourage within months if good profit weren't made. Establishing a prosperous business isn't easy, there’s a lot that goes into it. As you begin your business journey, keep these tips in mind, focus on planning, and take the time to test as much as possible. The more you prepare upfront, the more likely that your business will succeed.
Find out if business is really for you or not because not everyone should be in business and not everyone should start a business. You can have a great business idea that will work, but for it to work, you do not always have to be the manager. If you try to manage a business with your poor business skills, you will fail in the business even if it is a great idea of a business to start. Apart from having the idea for a business, know if you can handle it well or if you should pass that responsibility to someone else so the business can work.
hero member
Activity: 1652
Merit: 690
Leading Crypto Sports Betting & Casino Platform
July 22, 2023, 11:52:55 AM
#51
I think whether it's dropshipping or selling online or opening a business offline I think it's a free variable, in building a prosperous business and increasing business expansion or valuation when you don't have a lot of money, of course borrowing/getting investment is the best choice in this situation, but before that you need to calculate the circulation of money first, because to see opportunities you need to see the flow of money, whether the business is big or small, if you see a bigger opportunity when adding capital from borrowing, of course that is the conclusion that must be taken to make a business you will be better in the future with the hope of being more prosperous.

If you only rely on the money you have, that doesn't mean you can't, but it will take quite a long time in any business aspect.
As much as you are right, i still have to state that the number one killer of a good business idea most of the time is running such business on borrowed funds, borrowing to start a business at the very initial stage is such a very bad idea to be honest with you, it is much better to borrow to expand a/the business than borrow to start it up, this is because at the initial stage of starting a business, there are many uncertainties, like not being sure how the business will do, like not being sure if the business will really sell in the area where it is, this is enough to worry about already, having to also worry about how to repay a borrowed money is just making matter worst.

So its way better to start your business with your own personal fund, have peace of mind even if the business is not doing as expected in that initial stage, in the future when things become far better than the beginning, you can borrow to expand the business if expanding becomes really important.
If in this case starting a business using borrowed money is certainly not recommended, and that is quite a dangerous action in the future because we cannot measure how much profit will be obtained or see what direction the business is moving because there is no evaluation and review material, but if someone who already has a business and has calculations and has had a lot of good studies from money circulation, business movement, of course taking a loan is something that might be more feasible in this situation.
But to borrow in the early stages is not prosperity that will be obtained but failure.
hero member
Activity: 2240
Merit: 579
Leading Crypto Sports Betting & Casino Platform
July 22, 2023, 06:06:57 AM
#50
Let your purpose of establishing a business be on solving a problem not just to make money. If your reason to creat a business is to make money, you may get discourage within months if good profit weren't made. Establishing a prosperous business isn't easy, there’s a lot that goes into it. As you begin your business journey, keep these tips in mind, focus on planning, and take the time to test as much as possible. The more you prepare upfront, the more likely that your business will succeed.
I do agree with most of your points and they are obviously important for someone thinking to start a business, but there are a couple of points that I don't really agree with. The first point that I don't agree with is one shouldn't quit their day job before starting their own business, it might be possible in some of the cases where the business is handled by someone else at the beginning until it starts working but it doesn't work all the time because most of the times, a person starts a business individually.

The second points that I don't think is important for a business is to have a business partner, and I say that because most of the times, a business where there are more than one partners will start having issues after the business starts getting successful because people start thinking of getting more profits shares than others and that is when it starts creating issues in the business.

I agree with your 2nd point, but I will disagree with your first point. How can you leave your business to someone else to manage while still going to your old job? It shows that you are not prepared well and are not ready to give up everything to start a business. I won't believe anyone can run a business better than me because that's my idea, and I am the one who decides the success or failure of my business. If you can't quit your current job, meaning you're not ready to start and build your own business, you're not serious about being your own boss.
legendary
Activity: 3542
Merit: 1352
Cashback 15%
July 22, 2023, 05:34:31 AM
#49
As for me, from my experience, I can't deny that it is difficult to manage a business, because you will really spend time, physical effort, and when it comes to capital, even if the investment is small, if you know how to circulate money in the business, you will definitely be able to grow it. .

And the most difficult thing is that establishing a customer page is actually not easy, and once you can establish the customer and maintain the quality service and quality of the goods of the business, for sure the regular customers will come to your business first.

If your product does not find a niche, it will be difficult for it to prosper. The customer is the reason for the business. Having them is one thing, sustaining and satisfying them is another.
Every business owner should have a good knowledge of Customer Relationship Management (CRM). It will make a huge difference in your business.

OP, I opened the link you attached and discovered that you didn't do much work than lift and rearrange an already written article.

I noticed that as well, OP should've just shared the written article.

But, yes you're right. The customers will be the biggest foundation of an business. No matter how good the product or service is if the customer feedback is negative due to other factors like attitude of the staff, the cleaniliness of the establishment and so on.
hero member
Activity: 2492
Merit: 586
July 22, 2023, 05:05:23 AM
#48
Let your purpose of establishing a business be on solving a problem not just to make money. If your reason to creat a business is to make money, you may get discourage within months if good profit weren't made. Establishing a prosperous business isn't easy, there’s a lot that goes into it. As you begin your business journey, keep these tips in mind, focus on planning, and take the time to test as much as possible. The more you prepare upfront, the more likely that your business will succeed.
I do agree with most of your points and they are obviously important for someone thinking to start a business, but there are a couple of points that I don't really agree with. The first point that I don't agree with is one shouldn't quit their day job before starting their own business, it might be possible in some of the cases where the business is handled by someone else at the beginning until it starts working but it doesn't work all the time because most of the times, a person starts a business individually.

The second points that I don't think is important for a business is to have a business partner, and I say that because most of the times, a business where there are more than one partners will start having issues after the business starts getting successful because people start thinking of getting more profits shares than others and that is when it starts creating issues in the business.
Pages:
Jump to: