Business/Entrepreneurship. - page 3.

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Quote from: Bitco55 on January 31, 2024, 09:45:27 AM

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So, if you had the opportunity to invest your money into something would it be to start up something regardless of the amount of risks that come with it, or would you rather open a business or make a simple investment into assets?

Actually, I prefer to choose a small risk, and choose to start a small business while trying to expand the business. However, I will take the risk if I see that the opportunity is big enough to generate additional profits, that's why I still make cryptocurrency one of my focuses to date. Apart from that, I still try to run a business and develop it. However, the risks I take from other opportunities I see, I will make sure that they will not have an effect on my life or the business I run.

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Quote from: Renampun on February 11, 2024, 04:41:59 PM

Quote from: Volimack on February 03, 2024, 07:05:38 AM

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This is what differentiates entrepreneurs from ordinary people, entrepreneurs will always find a way to make a profit amidst the difficulties that occur, they will always be given an idea and that is the gift they get.

An entrepreneur will always be able to create opportunities and take advantage of existing opportunities, no matter how small they are. They dare to take risks amidst existing difficulties. The never-give-up mentality that they have can really lead them to the gates of success and be able to generate profits from the efforts they make. And when he encounters a failure, he is able to turn the failure into a valuable lesson, turning the failure as a stepping stone to move further than before. And this kind of mentality and ability are rarely possessed by many people.

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Have you ever heard of a successful entrepreneur being pessimistic about the business they are running, of course not, in fact they seem very enthusiastic when other people feel pessimistic about the idea they are running, and another thing, entrepreneurs are usually hard workers and great thinkers, and They are able to manage their money well and are not wasteful, they have many talent.

But when others deemed his actions as unattainable, he saw it as an opportunity to showcase his determination and unwavering faith. And while others are still pondering, he has already taken bold steps.
They have mastered the art of managing finances and time because they understand that without good management, it would be hard to attain their predetermined goals.

Zoomic

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Quote from: Davian144 on February 21, 2024, 12:20:55 AM

Quote from: EluguHcman on February 13, 2024, 11:25:03 PM

I would rather invest considering my financial capacity which would determine if I would eliminate some risks or I should head over the risks that comes out of it.
This is like setting up gambling budgets dependently according to my incomes and financial capacity so that I could either have my emotions under control regarding on the affordable amounts that is fit in to loose or not undermining the risks involved and just get on and indulge on it as a fact of being Irresponsible to my own own Indulgences.

All things involving money must always be adjusted to our individual abilities and that's not just in things like investment and gambling. But in other matters, such as broader business, it must also be adjusted to our personal abilities and scope so that emotional control can be more easily maintained and the pressure of risk will also be more borne by ourselves without blaming anyone. And you have also made steps that are quite suitable for that because you also made adjustments to your own abilities without feeling greedy in it.

Whether entrepreneurship or business, none is really easy, it takes lots of hardwork to be successful in both. Whatever option one would be going for, it should be the one their strength can carry, your choice should be based on your financial, emotional and even physical capability and not because you feel it will be accepted by the people and it has the potential of giving you lots of money or the next person is doing it and it seems lucrative. A proper understanding of the project you intend to invest your money in will save you lots of issues

It is really discouraging starting up something you cannot finish. Apart from the emotional hurt, all your time and other resources of value you invested into that business or project will be lost. Having a good knowledge of whatever we intend to venture into will help make our job easier as it will be very easy for us to device strategies that will help us defeat challenges.

Davian144

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Quote from: EluguHcman on February 13, 2024, 11:25:03 PM

I would rather invest considering my financial capacity which would determine if I would eliminate some risks or I should head over the risks that comes out of it.
This is like setting up gambling budgets dependently according to my incomes and financial capacity so that I could either have my emotions under control regarding on the affordable amounts that is fit in to loose or not undermining the risks involved and just get on and indulge on it as a fact of being Irresponsible to my own own Indulgences.

All things involving money must always be adjusted to our individual abilities and that's not just in things like investment and gambling. But in other matters, such as broader business, it must also be adjusted to our personal abilities and scope so that emotional control can be more easily maintained and the pressure of risk will also be more borne by ourselves without blaming anyone. And you have also made steps that are quite suitable for that because you also made adjustments to your own abilities without feeling greedy in it.

umbara ardian

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Smart risk-taking is what separates successful entrepreneurs from the pack. It's about identifying potential pitfalls, quantifying their impact, and developing strategies to mitigate them. It's not about blindly jumping in, but about making informed decisions based on thorough research, market analysis, and understanding your own strengths and limitations. While investing can be a safer option, it's not without its own risks. Market fluctuations, unforeseen circumstances, and even bad management can lead to losses. The key is diversification and understanding the risk profile of each investment.

Passion and innovation often thrive in the face of risk. Sometimes, the most groundbreaking ideas come from those who dare to venture into uncharted territory. It's not just about the profit; it's about building something meaningful, solving a problem, or making a difference. So, the real question isn't "avoid risk or invest?" It's "how can I manage risk effectively to pursue my entrepreneurial dream, or choose investments that align with my risk tolerance and financial goals?"

Baki202

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Quote from: MissNonFall9 on February 20, 2024, 10:53:13 AM

Both business and entrepreneurship play an important role in the socio-economic development and economic prosperity of a country. Although business and entrepreneurship seem similar on the surface, there are some subtle differences between them which are outlined below through definitions.dependence
First, let's define trader, Business is all the activities of producing goods and services and creating utilities to meet the material and immaterial needs of people to make a profit.
Entrepreneurs perform the same activities as businesses, but they have another distinctive quality that differentiates entrepreneurs from businesses, which is to do something new.

For example, the soft drink business. That is a person who, to make a profit brings some types of soft drinks from the producer and sells them to the consumer.
An entrepreneur, on the other hand, is a person who collects discarded soft drink bottles for an environmental purpose and produces bottles again through recycling for profit.

The function and aim are the same, but the form of establishment is different because, if we are to look at it on another level, entrepreneurs duel from a fresh idea most times, and that is why the word social is always involved while business is mostly developed on an already existing idea. That is why there are social entrepreneurs whose aim is to solve a particular societal problem, and if it were in a situation where we have a lot of social enraptures, then we would not be having a problem with our economy because there are too many dependencies on the government and most of the policies are not in the favor of the people.

Starting with employment, they would have just channeled that energy into either starting a business or making themselves useful, and the hardship is just too much in this country. And even if you want to start up a business, you need to know if it will solve a problem or not. If it solves a problem, then you will make money because, if you do a study, most business owners are solving a problem.

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Both business and entrepreneurship play an important role in the socio-economic development and economic prosperity of a country. Although business and entrepreneurship seem similar on the surface, there are some subtle differences between them which are outlined below through definitions.
First, let's define trader, Business is all the activities of producing goods and services and creating utilities to meet the material and immaterial needs of people to make a profit.
Entrepreneurs perform the same activities as businesses, but they have another distinctive quality that differentiates entrepreneurs from businesses, which is to do something new.

For example, the soft drink business. That is a person who, to make a profit brings some types of soft drinks from the producer and sells them to the consumer.
An entrepreneur, on the other hand, is a person who collects discarded soft drink bottles for an environmental purpose and produces bottles again through recycling for profit.

beerlover

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Quote from: slapper on February 14, 2024, 09:41:37 AM

Entrepreneurship, huh? Not just a fancy name for risk-takers; innovation's frontline. Indeed, entrepreneurs generate opportunities as well as address problems. Investors in entrepreneurship? That's betting on a revolution, not a company. Risky, but what isn't?

Let's discuss small business vs. entrepreneurship. Compare a rowboat to a yacht. One crosses ponds, the other oceans. Your safe bet, purchasing and selling? Yes, the rowboat. Not groundbreaking, but necessary. However, entrepreneurs construct yachts. They redefine the market, not merely navigate it.

Where would I invest? I'd back game-changers, risk-takers, and entrepreneurs. Why? Because they're rewriting the rules, not just playing. Real advancement happens there in this planet.

I do agree that any new business that tries to tackle a problem either in a new way, or for the first time, could make a lot of money. Some companies sees a problem that nobody else sees or makes a product for, and they just make a product for it, be the first in the market that solves that problem and they make money that way. Some end up solving the same problem that many products solved before, but they solve it a better way, like scrub daddy, been around for hundreds of years, and they just made it a lot better.

So over all, I think if you tackle a problem then you are going to make some money, it is not like "lets start a pizza shop", sure that sounds lovely but that also doesn't mean that we could profit from it.

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Those that are capable to do all of it are great people. I can't even do all of it, I am not sure if I can start my own startup and that's why I just want to be an investor. Having a business sounds great but you know the effort of it will take a lot from you. Coming from money, time, focus and effort, all of them are going to be required if you want your business to be successful and thriving. People might think that you're going to do less with a business but no. You'll even be the one to be the initiator of being everything on it as a role model.

slapper

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Entrepreneurship, huh? Not just a fancy name for risk-takers; innovation's frontline. Indeed, entrepreneurs generate opportunities as well as address problems. Investors in entrepreneurship? That's betting on a revolution, not a company. Risky, but what isn't?

Let's discuss small business vs. entrepreneurship. Compare a rowboat to a yacht. One crosses ponds, the other oceans. Your safe bet, purchasing and selling? Yes, the rowboat. Not groundbreaking, but necessary. However, entrepreneurs construct yachts. They redefine the market, not merely navigate it.

Where would I invest? I'd back game-changers, risk-takers, and entrepreneurs. Why? Because they're rewriting the rules, not just playing. Real advancement happens there in this planet.

Oasisman

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Quote from: Casalania on February 12, 2024, 01:55:38 PM

Quote from: Bitco55 on January 31, 2024, 09:45:27 AM

So, if you had the opportunity to invest your money into something would it be to start up something regardless of the amount of risks that come with it, or would you rather open a business or make a simple investment into assets?

I will choose to do both. I have learned the importance of diversifying my investments, which I currently do, I have decided to open a business while also investing in other areas. This way, if I happen to lose one investment, I will have another source of income to rely on. In case of any financial issues, I will prioritize one investment at a time. Once my small business is up and running successfully, I plan to move on to another investment instead of immediately increasing my capital in the current one.

Uhmmm, how about expanding the current business you are running successfully? Isn't that a wiser idea rather than venturing to another business model/niche that bears another new risk which basically you are starting from the scratch for becoming an entrepreneur? I mean we are not talking investments like stock, crypto, and anything like these, we're talking about business. When you are successful in the current business model that you have, it would most probably make a name in the market and people from different areas would likely to visit your business establishment, thus expanding it by creating another branch is as good if not better as diversifying your investments.

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Quote from: Bitco55 on January 31, 2024, 09:45:27 AM

A wise man once said "Entrepreneurs are problem solvers" usually looking for new ways and solutions to both existing and newly discovered problems. So, the word innovation and entrepreneurship work hand in hand and cannot be put separately

Although the words business and Entrepreneurship have been used interchangeably they aren't the same. While Entrepreneurship has to do with the indulgence and bringing up of something new despite the risk, while, business has to do with capital and profit straight up. Here, you buy other people's products and sell them at a higher price.
Both have risks, but that of Entrepreneurship spells out risk itself. Even though I can't shake off the fact that entrepreneurship is simply capitalizing on People's problems to make a profit, I can say that entrepreneurship has positively helped a lot of people.

So, if you had the opportunity to invest your money into something would it be to start up something regardless of the amount of risks that come with it, or would you rather open a business or make a simple investment into assets?

Both have their good and bad sides, investing early on a new entrepreneurship can bring you a lot of money, and in a way it is the same that those that are looking for new altcoins are trying to accomplish, but this is too risky and the chances of success are not high, however if you invest your money in a business that is not really innovative but that solves an established problem, then you can make good money with it, even if you will not become incredibly rich by doing so.

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Quote from: Bitco55 on January 31, 2024, 09:45:27 AM

So, if you had the opportunity to invest your money into something would it be to start up something regardless of the amount of risks that come with it, or would you rather open a business or make a simple investment into assets?

I would rather invest considering my financial capacity which would determine if I would eliminate some risks or I should head over the risks that comes out of it.
This is like setting up gambling budgets dependently according to my incomes and financial capacity so that I could either have my emotions under control regarding on the affordable amounts that is fit in to loose or not undermining the risks involved and just get on and indulge on it as a fact of being Irresponsible to my own own Indulgences.

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Quote from: Casalania on February 12, 2024, 01:55:38 PM

Quote from: Bitco55 on January 31, 2024, 09:45:27 AM

So, if you had the opportunity to invest your money into something would it be to start up something regardless of the amount of risks that come with it, or would you rather open a business or make a simple investment into assets?

I will choose to do both. I have learned the importance of diversifying my investments, which I currently do, I have decided to open a business while also investing in other areas. This way, if I happen to lose one investment, I will have another source of income to rely on. In case of any financial issues, I will prioritize one investment at a time. Once my small business is up and running successfully, I plan to move on to another investment instead of immediately increasing my capital in the current one.

Not everyone can build investments at the same time by investing and if you can do this well then this will be very good and you will be able to achieve financial freedom because you can get two sources of income which can guarantee your needs and requirements, of course this will It really makes it easier for you to live your life, prioritizing an area is not a problem and this will allow us to focus on an area so that we can run it well and once it is running well this will enable you to have a plan to try investing.

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Quote from: Xcode7 on February 10, 2024, 02:47:12 AM

Everyone will have different views and choices, what you want is not wrong and of course we have sufficient research before deciding.
However, personally, I would avoid businesses that I have not fully mastered and would prefer to invest because I think the lessons or preliminary knowledge will be easier to obtain for investing.
To open a business, I think you really need experience and starting from scratch to create an experience is full of risks so we have to prepare for bad things to happen.

It's okay to start with zero experience in having a business. That's how you'll learn from it and you just expect not that much apart from learning experiences. If you're able to survive and manage that business you are establishing successful, that's just a bonus and that only means that you're ready to take another bold step into starting a business.

Quote from: pusaka on February 10, 2024, 03:18:40 AM

As long as it's good for us, why not? Risk is a given and we have to take it. How do we know we will succeed in business or investment without doing it? We can't just speculate that we will fail or succeed, we have to try it and take the first step to start the next step.
Don't let the fear of failure make us lose without starting. Even if we fail, we will definitely have a great experience that will make us better the next day. No one is successful without starting, it all happens because of the courage to take all the risks that we have considered before.
We can't just sit around and hope for luck to come our way.

That's right, we need to do and try it because we will never know if we are for business or entrepreneurship and this is what stopping a lot of people. The fear of failing because no successful person that have not experienced failures and mistakes. It is part of success and you shouldn't fear to fail. But, I understand that there are people that are not really for owning a business.

Quote from: ringgo96 on February 10, 2024, 07:17:28 AM

every business we do is very difficult to build in the first year, if we can't survive the first year then the business we are running will definitely end, everything needs a process to be able to get profits in business, but for entrepreneurship it is innovative to develop ideas -New ideas but the goal remains the same as a businessman, so we still have to face difficult times the first time we run it.

I've seen businessmen that have been swinging like for a decade based on their statements and that's fine until the next succeeding years were good and stable. You'll never know how long you'll be able to get up and establish it until it becomes stable and that's why before entering one, you need to have a strong heart and passion for it to last.

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Quote from: Bitco55 on January 31, 2024, 09:45:27 AM

So, if you had the opportunity to invest your money into something would it be to start up something regardless of the amount of risks that come with it, or would you rather open a business or make a simple investment into assets?

The correct answer depends on many factors.

Your age, your expectations from life, the amount of money we are talking about, the taxation laws in your country, your country of residence, your ability to access global financial markets, you experience in investing, your experience as a business owner, the type of business you want to start...

See? The answer to your main question probably changes a lot when you answer these secondary questions one by one.

What are the details? What is the budget?

You can start a business with a laptop and some freeware. Write blog posts or code applications. That's a business.

Or, you can become a franchise of McDonald's and that will roughly cost you

Quote from: https://www.investopedia.com/articles/insights/072516/cost-buying-mcdonalds-franchise-mcd.asp

he cost of purchasing an existing franchise can reach $1 million or more and a new operation will cost between $1.3 and $2.4 million.

Investing and living of passive income is a whole something else. Don't even get me started.

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Quote from: Bitco55 on January 31, 2024, 09:45:27 AM

So, if you had the opportunity to invest your money into something would it be to start up something regardless of the amount of risks that come with it, or would you rather open a business or make a simple investment into assets?

I will choose to do both. I have learned the importance of diversifying my investments, which I currently do, I have decided to open a business while also investing in other areas. This way, if I happen to lose one investment, I will have another source of income to rely on. In case of any financial issues, I will prioritize one investment at a time. Once my small business is up and running successfully, I plan to move on to another investment instead of immediately increasing my capital in the current one.

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Quote from: imamusma on February 10, 2024, 02:34:37 PM

Quote from: ringgo96 on February 10, 2024, 07:17:28 AM

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In the first year it survives, in the second year it adds customers, and in the third year it makes a profit. It is a natural process that almost all business sectors will face these challenges, and if they successfully pass through these three phases, I am sure that a business will run and survive for a long time. The risk itself also varies greatly, I mean it depends on what business model we want to develop, and winning profits will be proportional to the risk we are able to take. If you don't want the hassle, then investing is the easiest way to make a profit, buying fixed assets such as land or property. And you can also invest in Crypto currencies such as Bitcoin, of course all of this requires learning and understanding excellent risk management. In essence, all of this requires capital, and taking advantage of available opportunities is the way to go if you want to make a profit.

Sometimes it is easy to tell and advise other people about business, but when we dive directly into the business in question, the expected level of achievement may not be appropriate. The success of a business depends on the owner, they try hard, never give up and always pray (for good) so that their business is successful. The processes or stages definitely differ from one to another, but the business concept is basically the same.

Currently, many business ideas are emerging, including those related to crypto. Continuous technological advances open many avenues for anyone, but they must understand the risk limits of each different idea. Don't target big profits, but start from something small and make it something big.

tygeade

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Quote from: retreat on February 10, 2024, 03:33:35 AM

Quote from: Bitco55 on January 31, 2024, 09:45:27 AM

So, if you had the opportunity to invest your money into something would it be to start up something regardless of the amount of risks that come with it, or would you rather open a business or make a simple investment into assets?

It all depends on potential. If the startup has good potential in the future, why not? or when the business or asset has potential too, why wouldn't I want to invest in it? I invest my money with the aim of being able to make a profit from it, so I will look for anything that has potential with as little risk as possible. So whether it's a startup, business, or investment in assets, I will invest my money with the expectation that I can get the maximum profit potential from it with the risks that I have previously estimated. I don't want to stick to one type of investment.

That is exactly how people should approach investment, if something looks like it has a potential to make you money then it would be smart. Imagine if you gave a few thousand dollars to facebook at their start, you would be a billionaire by now, not saying you would find something that big, but it is possible to see examples of that in the world, so investing into a startup is not a bad idea as long as you find one that doesn't go bankrupt.

It would be smarter to eventually find something that will make it better for you on the long run, and if you could do that then you would be able to do everything you could do. The best version of this would be just finding an AI company these days, very tough to invest, but could be good in the future.

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Quote from: Bitco55 on January 31, 2024, 09:45:27 AM

A wise man once said "Entrepreneurs are problem solvers" usually looking for new ways and solutions to both existing and newly discovered problems. So, the word innovation and entrepreneurship work hand in hand and cannot be put separately

Although the words business and Entrepreneurship have been used interchangeably they aren't the same. While Entrepreneurship has to do with the indulgence and bringing up of something new despite the risk, while, business has to do with capital and profit straight up. Here, you buy other people's products and sell them at a higher price.
Both have risks, but that of Entrepreneurship spells out risk itself. Even though I can't shake off the fact that entrepreneurship is simply capitalizing on People's problems to make a profit, I can say that entrepreneurship has positively helped a lot of people.

So, if you had the opportunity to invest your money into something would it be to start up something regardless of the amount of risks that come with it, or would you rather open a business or make a simple investment into assets?

Honestly, I have read through the Op trying very hard to understand what OP actually intended to differentiate or teach between entrepreneurship and business. In your article, it seems that you simply customized innovative to entrepreneurship, whereby an ordinary business cannot be innovative. This is wrong. I can say that a good business man is an entrepreneur. If you do not agree with me, I would like to give an instance. Let's I moved into a new environment for residential purpose. On getting there, I discovered that everyone in that neighborhood travels a few kilometres to barbe their hair. I decided to open a barbing saloon, employed barbers and start making money. Yes, I am an entrepreneur. But then, does it eradicate the fact that I am also a businessman?

According to your analogy, it therefore means that every successful businessman is an entrepreneur, while unsuccessful businessmen are just into business. In order to start a business, risk is already taken and it therefore qualifies a business man to be called an entrepreneur. I therefore can use both words interchangeably and still be correct because there is not clear distinction between them.

Topic: Business/Entrepreneurship. - page 3. (Read 1257 times)