Topic: New business idea. - page 3. (Read 1705 times)

To run a business, you must first understand the demand for the product you want to do business. It may be that the product you are trying to manufacture is a new product that is not in demand, but if you can give customers a good idea of your product and if it is really good quality, then you will be more likely to be profitable in that business. There will definitely be risks in business, but if you start, it is possible to get either positive or negative results. There are risks in business but once established there is a chance to be profitable for life. It will depend on the attitude of the entrepreneur. In my opinion you can start the business with a well researched. At first you won't get profit but as your business gets promoted and expanded there will definitely be opportunities to make profits.

It is indeed not easy to build a business whose orientation is to seek as much profit as possible, because, as you said, every system that will be implemented should start with a small situation first to study and see the response that will occur from the business. which can be carried out, but it is also possible to carry out large amounts directly as long as the funds used are sufficient. However, with everything, there are always risks that may occur, and it will not always be successful in every first step. That's why it is wiser to use small funds so that if it goes wrong, there will be losses. If this happens, it will not make you despair, which is something that must be avoided at every step in business because it will make you not want to take another step.There are indeed many aspects that must be carefully prepared for each step of the business that will be carried out, and there is no need to be embarrassed to learn from those who have already succeeded.I agree with you that if you have studied business well, then doing other work certainly won't be too tempting, let alone working in government, which has to be bound by rules.​

The point is that everyone who wants to enter and compete in the business world then obviously the first thing they have to prepare and the most important thing is to have a strong mentality, good planning and good management, you will never know that there will always be competitors who are much stronger and who have more preparation than you, so of course they must have the things I mentioned and you mentioned too before finally getting involved in the business world. For the capital problem I think it is now less of a problem because obviously there are enough loan services that can provide you with capital as long as you are really very confident in the plan and the business you are going to build, but on the other hand I admit that it is better to use personal money because then you will not feel much pressure from the money you use.

True, although it looks long enough but I think it doesn't matter because it's a process to achieve success and success in running your business, there are always failures along the way but that's natural because you are undergoing a process, usually people will really fail when they are unable to withstand or face all the difficult processes in the business they build, and that is why some fail and some succeed, success is only for those who really want to struggle and try hard at all costs.

Exactly. I have seen people come up with revolutionary products and business models only to fail so horribly because they can't back it up with proper determination and heart. The product's not gonna sell itself for a couple of years, maybe even decades let's be real here, so as the business owner you are held responsible for making sure that no matter what happens, long as you really believe in this idea of yours, you're not gonna quit it. I think OP's got the makings of a fine businessman, and if things go well he might even make it big. Don't let capital or whatever the fuck break you from this dream, cause if there's a will, there's always a way. Hoping to hear more about this amazing product idea you've put out OP.

Before starting a business, what you must instill in yourself is to have a strong intention and determination to advance your business consistently. And apart from that, you also have to have a good strategy to be able to compete and you also have to have good quality goods and good marketing and affordable prices.
And most successful business people must be able to get through the first 3-5 years of struggle to start their business until it becomes big or advanced, and this must be thought about first. Especially capital, and other problems that will be faced and so on, you have to think about it and be ready to take risks not to give up.

It's those type of people that you need to employ, that's why all those SEO people and Marketing people are getting all that much money, the yare the difference maker. It's the same in the crypto world as well, you can create the greatest token ever seen and wonder why nobody invested, and then something like "shibapepe" end up getting 12 million dollars in funding and you wonder how they did that.

They didn't had a great token, that wasn't the trick, they had some great marketing people who managed to convince enough people to hype it. That's the power of marketing, if you can do that, I guarantee you that you can sell plates and make tens of millions of dollars, I had a friend who did 3d printing, and he sold millions of dollars worth of stuff thanks to that, not because he built anything special, he built absolutely garbage, but he did marketing very well and now he owns a large workshop for his product. It's all about marketing, nothing more, that's all that matters.

The main aim of everyone here is to learn new things and also share our own ideas, you can't just condemned the idea even though you are not using it in your country, and by now you will have know groundnuts oil and you see how it been produced, so now if you have been given the assignment to get them a groundnuts oil, assuming you don't have any idea on how it look like definitely you will be discouraged but since you have found a place at least getting it will be easy and also know that no knowledge is waste. And I think this ldea is for everybody not only Nigeria.

This one you are saying is everywhere people take government opportunity for granted but I think this is not from government, you can develop this skills on your own and then look for assist from government to support, if you are luck they will look into it and from there you will be growing bigger.


Making survey is the best thing to do but before that you have to take risk of producing little for samples because you can just go and convince people to buy your product with empty handed, no one will pick interest in it because they don't know how it look like, if eventually you are lucky and the response in a positive way then the sky is your limit.

The idea is good if your oil have a lot of sources right there the concern here is why don't you just share in your local it's a good idea, are you afraid that someone will dominate this kind of idea of course in your local? you already shared here so still have the chance they will see this. As long as the product or services become in demand they will surely become a big growing business and possibly succeed. Entrepreneurs find a solution to the community's needs and wants so they can bring this and serve a good product reason why they become instant millionaire because of their ideas and marketing strategy.

If you have the capabilities why not take a risk with this business you are proposing.

In building a business you have to start with a small business first so that you can get creative ideas so that in order to run a large business you can make a more focused plan, especially to build a business you must use capital which is sometimes quite a bit. Imagine if there was bankruptcy what attitude we should take and the product. what we produce must have better quality than other people's products and many people when they are successful in the business world like Indonesia they will leave government employees because if the business is successful it earns tens of times more than employees in government

The idea is not bad, if some will starts this he will make a huge profit but this business is not as successful as we think because this business is seasonal the harvest occurs only once a year so what will he do for the rest of time? also, this business requires a piece of knowledge about the market and many other things, and you said that this business does not require any education, but without education how they can run this business? This idea is very good for those people who have some other Bussines as well but if you are recommending this to those who are new and have no other business then this will not help them a lot. I think they can go for a better option.

I was hoping to get the full gist from this thread, that is, the business idea - this you stated to be production of groundnut oil.
However, I was also expecting that you will state also the requirement needed to go into the business, like you mentioned the processing machines, you should have stated the machines here, possibly take the pictures of machines and post them here, also mention places to buy or order the machines from.

And as well, guide us through the entire production process, that is, starting with the raw material and coming up with or to the finish or final product.

This is how to write a well detailed post, and I guess you would have been appreciated more if you had done it this way, rather than redirect us to a different place entirely, not every one here Iike leaving the forum in the quest of learning something new, whatever is shared out there can still be shared here, all you have to do is state the source of the information shared.

from the article i read that the demand for graundnut oil in your country has increased compared to other types of edible oil, but you cannot compare your country with other countries, each country may have a different demand for this graundnut oil, for example in in my country, the demand for graundnut oil is not that high, because people are more interested in consuming palm oil and graundnut oil is more expensive, so people are not interested in consuming it.

though export opportunities are wide open, because in other countries the demand for grunanut oil may be quite high, but not everyone has the ability to export it to other countries. the process is quite complicated and the capital for it is quite large. so this grapenut oil business opportunity is not very attractive.

It is best since you have taken the initiative to do a business. Because you can make this business based on the needs of the people of your country. It would be best if you build this business with a few friends based on the daily needs of people. Because affiliate programs are always evolving, you can provide more people to promote your business. And you need more people to fund your business so you should build this business together.

Of course that has to be done at the start, before they start implementing their idea into a business of course they have to know many things related to their idea or business, because if they start a business without sufficient knowledge it will only make them lose money. because without sufficient knowledge, the business they run may not run well. So as much as possible, if they want to start a new business, they have to understand many aspects about the business, the risks, marketing, expenses, even running it, because if they have a lot of knowledge about the business, it is possible that they can reduce the percentage of losses that will occur later.

manage everything well, from income, expenses and pricing. because that's what they have to do if they want to start a business, where they have to manage everything well because a business must of course be profitable so they should manage everything as well as possible.

Yes,that's right those who open a business have to market it well and think of something they can do so that lots of people can buy their products, such as unique marketing or low prices. They can do that as long as it doesn't harm other people. They can do it, especially in marketing, of course they have to be good at speaking so they can attract the interest of many people.  by making 100 products and thinking about  how to sell 100 products in just a day, that's what they have to think about, they have to be able to sell 100 products a day to attract more people's interest, how, as I said, they can do it with a good marketing method unique, that's one of them, or by lowering the  price slightly to make it cheaper than others if their product is the same as others. because I myself have a principle it doesn't matter if the profit is a little, as long as the sales go well it's not a problem.

So in my opinion, they should be able to carry out what they started as well as possible, don't take too big a profit because that could make it difficult for their own sales.

I have been trying to find some field of activity for myself in the future to open my own business.

Every idea is always valid and can be inspiring, but I ask the OP, what would this walnut oil be and its use? What makes it, in your opinion, a good product?

That's true, marketing is very important, you need to figure out very early on what your demographic is, like when you build a product, who buys it? And after figuring out who buys it, then you need to figure out who likes to do something about it. I get that not a lot of people would end up marketing that well, but if you can arrange that somehow then you can grow, doesn't matter what kind of investment you make or doesn't even matter what business you are in, as long as you can figure out who buys your product and market it to those people very well then you are going to get rich.

If you can do that, I agree that faster development is possible, when you make 100 products a day and sell only 20, that's terrible, but if you do marketing well enough, you can make 100 and sell all 100 and be sold out and people would wait in lines to get more.

Starting the business using the capital was the easiest one,but the first important thing in the business is the person who start the business should know more about the business.Because many people had quit their business after the loss from the beginning of the business.Before starting the business the person should build their skills to that business.The business learning takes time,he should ready to spend the same time to build their skills.If the person want to start the textile,he should learn to fix the price for the shirt from the base price.Because many business was get into the end stage because of random fixing of the product price with less skills towards the business.

I am not come from with the same country with OP and seems difficult to give opinion are worth with business graundnut oil making or not? you need to researching about marketing and graundnut oil more needed in your environment country? Better try to make little survey in your local board and looking for their respond how excited with graundnut oil for their daily activities. Usually in my country have business with the same ideas like OP but product is not from graundbut but also from coconut.

First needed when build up some business need to get survey and respond from citizen are interested with your product and how their respond with graundnut oil are most important needed in your country?

I agree with what you said; I think most countries will not have interest there. Unless they make a good strategy to give attention or interest to other countries so they can enjoy the products they have in their country,.

Right now, it seems like they will have a hard time because they still lack the materials needed for their business. Maybe they should have innovation first and be able to follow the technology that we have today.

This "business idea" for me is good but this does not work in some other countries like mine. Though still worth a try but yeah corruptions here in my place might end up the business. People here are very good at starting the business but lacks consistency in the long run. We've been offered by some of the government agencies livelihood programs but ends up no success. The government is willing to help but the people itself are not worthy for the help.