Business/Entrepreneurship. - page 6.

Alpha Marine

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Quote from: Bitco55 on January 31, 2024, 10:45:27 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.

I agree that there's a difference between an entrepreneur and a business, but not with the difference you gave.
An entrepreneur is simply someone who has a business or business. You can't be an entrepreneur without having a business. It could be a big corporation, or a small business, as long as you're the owner of the business and you bear the risks of that business, you're an entrepreneur.
It doesn't also matter if you're solving a new problem or just going along with an already solved problem.

If you're going into an already dominated industry, you have to be ready to do things differently if you want to get to the top. If it's a service you render or a product you have, it has to be better than what people already have. Your marketing and packaging can also speak highly of you. That's what I mean by "you have to do things differently".

Quote from: Bitco55 on January 31, 2024, 10:45:27 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?

"Regardless of the amount of risk"? This is not a very good way to go into a business. The risks involved are always a priority.
There are questions to ask.
Questions like: Will the risk increase the cost of doing business and thereby make whatever I'm offering too expensive for my potential customers or clients?
If I look at the risk involved and if it's not worth the reward, I don't think I'll go into that business at all

Husires

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The word entrepreneurship has become very expendable, and all young people want to become entrepreneurs, company owners, and influencers without even thinking about education, how to manage, and learning more about how to make a business succeed if they cross the first threshold and achieve a successful project. Social media is what made more focus on some successes versus Complete failure of many projects in their initial stages.

Gozie51

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Quote from: Bitco55 on January 31, 2024, 10:45:27 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?

Of course before you begin a business venture, you would look into your risk to losses and profit expectation because you don't jump into something you don't have an idea what you will see there. Before you go inside a tunnel you already know it is round in shape, or you don't deep your fingers inside fire. Therefore, every business entrepreneur has to do a survey of the business arena they are going to and see if the capital at hand can even sustain the business at the time it is still going under the teething stage. Usually, businesses are to be allowed 6 months of breathing space without salary, so payment of salary and other miscellaneous are to be provided for before the business starts yielding.

Darker45

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They're generally the same. Entrepreneurs are basically businessmen. And many of those who call themselves entrepreneurs haven't actually started a new business idea. Many of them aren't doing business based on original innovations. They're doing something that's already done by others. But, yes, perhaps some of them add some personal touch.

I'd open whatever it is that seems perfect to make money based on whatever available resources I have. Investment has always been there. It's probably the way for me to make the right amount of capital to be able to start a business. As much as possible, I'd avoid risk.

sekalitas

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Quote from: Bitco55 on January 31, 2024, 10:45:27 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?

My ideal choice would be to pursue both options. Starting a business offers the opportunity to make a positive impact by creating local jobs, especially considering the high unemployment rate in our country. Additionally, investing in an asset provides a safety net in case of unforeseen circumstances within the business.

cozytrade

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Actually, as easy as starting a business is, being an entrepreneur is not that easy. Being an entrepreneur requires a lot of money which not all people can collect. And to start a business, it is possible to start it with little money. So in my opinion it is better to raise some money and start a small scale business than becoming an entrepreneur. If a person has some idea about business then it is definitely possible for that person to get success from his business. Another advantage in business is that you can control your own finances, which is not the case in recruitment. But after starting a business, a person may consider becoming an "entrepreneur" later on, as his business progresses.

poodle63

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the thing with entreprenurship or startups and starting from scratch with trying to be problem solver, we don't even know that we are truly solving problem until we can release mvp and actually get customers.
by then we can try to judge and conclude whether our startup truly problem solving, in this case, its apparent that just investing money into people's business that need money to grow their business further feels a lot easier.
but arguably those startups founders that could become unicorn, that are truly problem solving with their product are becoming rich without the need to invest that much money as much as those that invested in seed round or something.
they just put their skill and they already become millionaires by the end of it.
it has it share of advantage and disadvantage.

dothebeats

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These two are interchangeable, although I agree that being an entrepreneur is more tedious than just being a businessman. There's a lot of intricacies in being an entrepreneur that a businessman may not need, like convincing that a product is worth X when in fact it isn't, and making value out of almost every conversation. I have a business, and I can manage it pretty well, although I know to myself that I cannot 'sell' my service to a lot of people and I hire other people to do that for me. I know that I can never do that on my own and would always require external help from other people.

Kemarit

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Quote from: Bitco55 on January 31, 2024, 10:45:27 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 guess there is no right or wrong answer here. If you invest your money into something and in return you will earn money, then it could be a passive income. Without yourself investing time as well. You can be a angel investor in the beginning, and if the project become successful, then it's going to be a lot of money and the risk is worth it. So every new project has that potential, and you might even mentor those start-ups, so another learning experience.

And on the other hand, opening a business you have that creative independent as you have the control of everything. Specially a business that you love and have passion to, You have the opportunity to innovate, create new products or services, and shape the identity of your business. So there are risks and challenges on both, but if you wanted to become successful, then it requires hard work and resiliency.

moneystery

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Quote from: Bitco55 on January 31, 2024, 10:45:27 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?

i was not born from a family that has the ability to be an entrepreneur or a businessman as a result it will be difficult for me to be both, but i am learning how to be a good investor, for that reason my chances of success if i become an investor are quite large compared to becoming a businessman or entrepreneur.

choosing a potential business is not an easy matter, even though many say find out what problems are happening around you and then turn it into a business opportunity, i am pessimistic that i will be able to run it well.

Stepstowealth

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Quote from: Bitco55 on January 31, 2024, 10:45:27 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?

Starting up a business will mean taking a lot of risk, and it can be harder when all the risk in the business has to be handled by just you an entrepreneur, an individual who has had little experience in business, and I am not willing to take that kind of risk. Business is not something I also think I can handle the risk so I choose investments into assets that will yield profits. This is why I am investing in bitcoins. Business or entrepreneurship is not for everyone, know if it is for you, if it is for you, you can try it, but if you know from the beginning that it is not for you, do not try to start the business, because you will just be wasting money, and you will realize it in a few weeks after starting.

Orpichukwu

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Quote from: Bitco55 on January 31, 2024, 10:45:27 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?

Even as an entrepreneur who wants to get involved in opening up his own business, he still needs to take some risks. There is no form of investment or business that one will go into today that does not come with a risk.

There is always a risk involved in business, and as an entrepreneur, you need to study those risks and check if they are worth taking. If the risk is lessened and you think you can manage it, that's when you can go into that business. The same thing is also applicable to investment.

If I have start-up capital at hand for business and am investing in something, I will have to look at what will profit me the most at that point in time, and the result will determine where I will invest that money. I can just go into business when I know nothing about it; I will rather invest in something that I'm sure of than start a new business unless I already have a business plan in mind.

decodx

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Both starting a business and becoming an entrepreneur involve risks and require bravery. However, entrepreneurs tend to take more risks developing unproven ideas while business owners work in established markets with some track record of success.

Business owners focus first on making money by selling products or services to customers. Entrepreneurs prioritize creative problem-solving and innovation over profits.

Should you put your money into a startup company? Well, it depends on your appetite for risk and your faith in your talents to recognize a good idea when you see one.

Lukmanfirdaus1

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hallo world ^_^

I prefer to open a business compared to investing my money in other people, I have problems trusting other people, so in my opinion it is better to burn my money in my own hands than to go bankrupt in someone else's business. Apart from that, if I start my own business I can't be controlled by other people, all the decisions are mine, even if I go bankrupt I won't have any problems. Maybe many people don't agree with me, but this is purely just my personal opinion.

Faisal2202

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Quote from: Bitco55 on January 31, 2024, 10:45:27 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 just mentioned in one of my previous posts that I am not getting any new information from the economic section but I guess this is new to me, I did not realize there is a difference between Business and entrepreneurship, But I don't consider them the same either, but get to know few more differences due to your posts, thanks for sharing it. But still, I am confused, you said, that entrepreneur develops new ideas that solve people's problems, while business is like buying and selling, making a profit from capitalization, but that's not what business is all about.

In business, we do sell products or services, but they are also risky as risky entrepreneurs are. Don't you think! I mean doing a business by spending money where your competitors are making a profit but you don't mean you lack something, but in entrepreneur your idea is new and you don't know if you are doing anything wrong, you don't know the main reason behind the failure you are facing. The difference between them is big.

Gaza13

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Of course, we cannot live in the world of investment if our finances are not stable because we need it for our daily needs. Of course, if someone already has a business and the business is running well and the profits are visible. Of course, if I want to open a business again, I will create a new foundation in the business so that my foundation is much stronger. If the foundation is strong, of course the money will have doubled, of course our money can be set aside for investment.

franky1

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if you invest in your business you control it and make decisions on it and usually its a business just selling a product or service other busineses also offer so you have to consider the local competition. which limits your decision power because you are limited to the market of value-premium
for instance if a nearby business sells similar product at X, for you to compete you need to spend more to give better service to also sell at or above X or sell below X

whereby most businesses sell products at a 3-5x of product underlying supply cost to cover businesses own labour, property costs, taxes and profit. EG restaurants are 30% food supply cost, 40% restaurant/labour/tax cost 30% profit margin

however entrepreneurs see a new niche product never marketed before but has potential desire of 30% of all countries consumers meaning initial build out of production can result in millions of population of regular sales. this a #thousand multiplier if successful. EG invest $100k could equal $###million returns
however most entrepreneurs know not all new niches make a success so the #thousand multiplier of one success covers the losses of 99 other niches that dont succeed. so they play the odds by diversifying across many new ventures/niches

Aanuoluwatofunmi

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Quote from: Bitco55 on January 31, 2024, 10:45:27 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

It is our own personal business strategies and efforts rendered upon everything that we do which makes it comes in being productive on us, when we take time in making the business enterprise move forward and get to the next phase, we are going to see the effects on how we run the business as well and there will be nothing more than to maintain running the business in a more professional manner, this is what will make us stand and remain outstanding amidst other counterparts doing the same thing we are into.

Bitco55

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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?

Topic: Business/Entrepreneurship. - page 6. (Read 1115 times)