Topic: Small Scale Business Ideas - page 10. (Read 2008 times)

Yes, dont make yourself in a hurry even if you do have the capacity on starting out on making it big or using that huge capital without having that real experience through it because it would really be might resulting into a disaster when you do fail. Start up small and test out on what are those things needed and whats not and it is really that true that you would really be needing that feasibility study or test about on the business that you are building and find out whether the demand is really that high on the place you are planning to build or not. Taking up some rush decisions or being that careless would really be that might ending up on a disaster and this is why it would really be always wise that you should really be on taking up these basic steps first before trying to launch up.
We know that capital is never been that easy to provide and this is why you should really be that smart whatever steps that you would be taking and dont really get easily yourself dive in with some hype and always be that consider about the risks involved and make out back up plans if ever that Plan A failed. It would really be a long list of trial and error which is really that common on a business specially when  you are just starting up.

I do not have any small scale, low risk business idea to give anybody, not because I don't have the ideas but it may not be things the person is passionate about. Can't advise anybody to go into a business just because they want to make money without understanding how the business really works. That's by the way.

What I really wanted to say is, no matter the kind of business you do, don't joke with digital marketing. Doesn't matter how small your business is, you can make more profit if you do your digital marketing rightly. If you can't learn how to handle it, you can hire someone to help you out and learn it with time.
Again, it doesn't matter how small. Is it pastry shop, do you make shoes in your basement? You have a small boutique? You make furnitures? Any kind of business at all that you do, take your digital presence very seriously. If you have a website it will drive more traffic to site and create more awareness to you.
As long as your goods and/or services are quality, put your focus on digital marketing. 

In my opinion, all business people are looking for profit, the question is whether the business they are running is right on target. In the right place, and also at the right time, maybe that's one aspect of the business you do that can make a profit or not.
If you run a small business, if it is done in the right place or location and whatever business you run is needed by many people, it will definitely be profitable. As long as the service is friendly and the place is comfortable to relax, it will definitely be profitable, and with that you can invest or do anything to increase your income.

A feasibility study is part of business planning because it is difficult if you start a business in an area where only a few customers will avail of your product or business so it would lead to failure. Also  with capital as long as your business is small capital is small and I do agree that we should start small first before venturing to other big businesses as this also needs huge capital. Small businesses can earn you some experience on how to run a business which is also key if you plan to expand. Most businesses start small so take your time and learn from it.

And what is certain is that whatever business there is, there will be risks. We as entrepreneurs must be willing to study and study harder to understand the conditions around us to find opportunities, not just with words, but learn to take steps, the important thing is to just move first.

It is common knowledge that if we want to be successful in our business we must be able to compete in price for all types of goods, but sometimes the constraints in each region are different, that's why we have to read the market. Sometimes we don't dare to get out of our unpromising environment, we just always focus there and don't dare to make changes. As a result, our business development stagnates. If we can make a profit that day, it ends on the same day. We have to dare to speculate without having to be afraid of failure. The last point you convey is quite motivating because no matter how small the business is, we must be able to develop and need action. If we can control our finances properly in a small business, we can invest profits from the business.

The most effective way to run a small business is meeting an important need around you. Possibly run a survey around your area, find out what's needed and essential that's isn't available and try to start it no matter how small. Raising capital for your business can be difficult especially when you're not financially bouyant, but you can start small with whatever amount you have and grow it from there. Remember  that growth takes time and needs your full focus and determination. No matter how small a business it, it can't grow without your presence and effort.

You should explain the business more specifically, like what kind of food it is that one can sell where they won't have to invest a lot of money even after buying the equipment and also the material that can be used to cook or make the food that will be sold, and you said that the raw material won't be wasted and can be used for later even if it isn't sold or something but if someone makes some food and the food isn't sold, that is a loss for their business IMO.

So, even though I know that a lot of people might be earning good profits from their small-scale roadside businesses, it's not really as easy as a lot of people might think it is because it requires a lot of hard work and that is the thing about small scale businesses, you will need to work very hard.

Whether a big time business or small scale business, any business requires you to carry out a feasibility study, is there availability of capital and do you have the required knowledge of the business? You cannot be into food vending and take your business to a rich residential area because you don't expect a rich man to stop to eat your roadside food, such a business is for the common people, so you need to know your target market. Having said that there are small scale businesses that can be profitable like food vending, fruit vending, online store, barbing & hair saloon, poultry, farming etc.

Setting up a business with both savings and loan, won't be a bad idea. The great point of running an existing business is twisting the business to a direction that is not existing already. Many small scale business owners make the mistake of doing exactly what others are doing. It will affect, negatively, the growth of the business, because customers are fed up with seeing same old stuffs.  The law of diminishing return comes to play for such a business. So, if a business starter is targeting on taking a loan to run a business, they must endeavor to be sure about what they're doing. Hence, borrowing money to run a business that'll fail or fall in few months isn't encouraged. It's better to use our savings to try out the business, if it fails then we are not in a big trouble of paying back to anybody. As for small business ideas, I'd suggest farming agricultural products. Food is always on demand and the world currently needs farmers to produce more food. It's simple to get a land on lease, to farm crops like pepper, vegetables, potatoes etc and harvest during the harvesting season, then sell in bulk to gain profits. Start gradually to master how it works, what works and the crops, that's mostly needed by sellers. However, if farming is difficult to run, then reselling farm products online is also great, it doesn't require a shop, just a page, where you make posts and publish everyday. Soon customers will begin to creep into your dm for smooth deals.

The risk of running a business on social media is quite minimal, it's only painful to lose an account after growing it for years or months. That's the only risk attributed to such business ideas. So, social media managers should be careful and follow the terms and condition of any online platform where they're promoting the business. But for printing services, it's not just ventured out of ignorance, the best hands are required to operate those machines, to reduce errors and extra expenses. Business is risk, what matters is finding ways to reduce those risk and fetch ourselves more profits. 

Sometimes you will find that there is an area where there are no gas stations. Now if you build a gas station without observing the number of vehicles in that area, the entire investment will be lost. There are no gas stations in the ten kilometers where I live. As I mentioned, the area is not crowded. So, if someone builds a gas station for 20-30 vehicles, he won't be able to run his business. Instead, some oil sellers sell many kinds of oils like palm oils and soybeans in our market. What they did is, they also sell Octane and gasoline with a 10% higher price than the original. Because they had to buy it from the gas station and they sell a few litters daily. To cover their expenses, they sell it at a slightly higher price.

That's right, small businesses also need to rely on many factors to make accurate decisions, we should not do business indiscriminately. I see people proposing mostly existing business ideas and nothing new, but what's more worrying is that people ignore factors like geography and population density there, or what needs are they lacking...That is something we need to pay attention to because from there we can get the most effective business ideas. A business idea is not about coming up with a new idea but about finding a suitable solution in the place where we plan to do business.

It exclusively depends on where you are located and depends on various other things as well. Asking for your location will trigger privacy, so I won't ask about it. Business profitability depends on many things, such as how crowded the area is, how much your investment is, and where you will sell your product or service.

For example, I live in a village, and most people suggest not to do any business because the area is not crowded. Everyone suggested I buy some cows and build a farm. I am still out of any idea regarding what I should do.

It is wrong to think that a person who thinks of a small business and starts the business journey with a small business will be doing small business for the rest of his life. Big or small, you need to make sure where you are investing money and what is your chance of earning money from where you are investing. If a business can be started with a small amount of money in the right place, then it is possible to improve that business gradually, but if you invest a large amount of money in the wrong place, even then it is not possible to earn money from that wrong place. First we need to make our business successful. When a small business is successful then we will think to make our next business a little bigger, when the next business is big then our thinking will change a little and we will plan to do a little bigger business like this but starting from a small business to a big one. Business can be reached.

I think we can start by doing market research, if we know about something that people want or need or there is good demand in it then we can start to do that business. each person have their advantage and disadvantage so I think even many people do the same thing the result maybe different.

If you think about just small scale, then you will stay small scale, the best thing to do is to find a business that would take some time, and that would be good enough and should be considered for the long term. I believe that we are going to end up with something that would make a profit, and that is why it would be smarter to have something that can grow.

Think about facebook as an example for these type of ideas, it doesn't have to be software or website or anything like that, it could be farming if you want, doesn't matter, but the idea is that a website like facebook could have been used by 100 people and then die, or it is like how it is today, used by billions. That's why we need to be careful about it.

There are many ways to find your capital for investments or starting your own business. These are what I know;

• Use your salary
• Sell things/assets that you don't use anymore
• Get a partnership either with your friends or strangers that share the same interest as you. Why not a relative?
  In my culture, it's hard to deal business and partnerships with relatives and based also on my personal experience. I've got no problems with immediate family but to 2nd degree and so, there is.
• Look for angel investors and be good at pitching your idea.

Actually there are more but these are like some common ideas.

Business is an ongoing dialogue that comes down to passion and finding the proper opportunity. You must grasp what you can, when you can. Low risk? Agriculture and animal husbandry are always needed. Everyone must eat, right? We shouldn't forget crypto. Bitcoin revolutionizes commerce. We should pay attention to your city's young entrepreneur. Hydroponic plants making 5x-7x profit? Incredible. Research is crucial. Know what's happening and what people want, then deliver. Fast. Worlds change and move constantly. Be first, fastest. What about gambling? It always offers fun, right? Why not if it's controlled and fun? Have fun, take a chance. Continue pushing limits and creating chances. 

There is no end to discussing business, it all depends on your passion and what opportunities you can really make good use of.  usually a low risk business is a business that is always needed by people, such as agriculture and animal husbandry, in my city there is a young entrepreneur who is quite respected, the business he is involved in is hydropnic plants ^{(i don't really understand this)} but he said in the capital spent is very small but the profit can be 5x - 7x. 
You can also try to do research in the area around you about what is really needed or will be really needed by many people around you and you have to be able to execute it quickly because it's definitely not the only one who sees that opportunity.

Of course, investing in bitcoin is a great idea and that's why we joined this forum. But the money we are struggling to earn from working as hired labor or from our small businesses. First, we need to make sure we have enough money to spend on daily needs, save for emergencies...I think those things need to be prioritized before using that money to invest in bitcoin. Bitcoin cannot be more important than our daily needs and families.

By the way, small business does not mean small profits, sometimes the profits it brings are much better than medium business models.

There are a lot of business idea to start for example:
Poultry farm: raising of birds commercially for the sale of meat and eggs eg chickens, turkeys, geese. It also helps in promoting agriculture. Chicken meat is very expensive and healthy, also everything concerning chicken can be use for income, in a poultry farm everything is beneficial even chicken manure can be use as a source of income cause manure can be of good use for farmers. Lastly the investment to start a chicken farm is low and the return on investment is fast.