Topic: Small Scale Business Ideas - page 5. (Read 2008 times)

Always remember that when you give up on something you are building then you are starting from zero again. building a business is not easy, it requires hard work, especially with the emergence of many competitors today, we must have a different strategy from other people to attract market interest, so, always prepare yourself mentally when you first start a business, also prepare knowledge about risk management and financial management so that you are not surprised by all the possibilities that will happen when you start running your business.

Well that's quite reasonable my friend, how can we get experience if we ourselves have never tried it at all, therefore as we know usually someone will be able to achieve success when they have worked hard and experienced many failures in the process but they never give up and keep trying to achieve their dreams, making a failure as experience and learning and that experience will be their provision for the next journey. But basically it is quite difficult to go through all of that and it is not uncommon to end up failing, therefore in my opinion before you finally decide to start a business then at least you have to look from various sides, first see whether the field is in accordance with the expertise you have, if it is appropriate then you can start it but if it is contrary then I think it is better for you to look for another field that is easy enough for you to master.

Building a business will not be as easy as turning your palm, I understand maybe you come because you have seen the success of others or even your own friends and you want to be like them, but before that I think you have to do research first, many things you have to prepare there, such as in terms of capital, seeking various knowledge about the business you will run, market research, and the most important mentality.

In this era of sophisticated technology, there are actually lots of opportunities to do business or earn money which we can then invest with this income. It just depends on our intention to start a business or not, business doesn't require a lot of capital, even with technology like now, you can also make money without capital. The point is, we have to have a strong intention first.

I myself started an online sales business and also make money from dropshipping. Actually, this business is to build my business mentality for investing, because my main goal is to have as many bitcoins as possible.

How possibilities to get experienced without start first the business? its the same thing when applying job in my country have criteria with several years experienced in working but we are looking for job want to get experienced. Its not problem less experienced or not when start business depend we have manage well with risk and marketing system how to promote our business. Slowly we can learn day by day with our experience after starting business and there are not required with experienced first to start business.
Regarding with many success businessmen story I read, many of them start and build up their business from zero without have more experience and start with small fund.

If we build a business and we don't have business experience in the field we are building then we have to look for people who already have experience in the business field we are going to build so that the business we build can be run well, but it will be different if we have sufficient capital. a little, then we have to choose the type of business that we will build and of course we already have experience in the field of business that we will build.

Building a business without any experience will certainly mean that you have to work hard in building the business that we are going to build and this is a challenge in itself for some people and of course they really enjoy it when the business they build can run well.

Does someone have to have experience to start a business first?
how someone has experience if he never tried it, I don't understand where the context is, but the simple thought is like that.
What I mean by a suitable sentence is that when you don't have work experience in your business field you are very vulnerable to failure, therefore knowledge and work experience in a field are the main things for starting a business.

But strangely, a small number of people can gamble on businesses that they themselves do not have experience and knowledge of in a particular field but can be successful in that field, as long as they are willing to learn and work hard on what needs to be done in that field.

If you do business in an area where you have no knowledge or experience, you are gambling, not doing business. I think no one is stupid and has enough money to do that.

Is it easy to borrow money from relatives and friends to do business in your country? In my country, no one would be kind enough to do that, and I wouldn't do it either. To be able to do that, you at least need to have a good idea and prove your ability. No one will lend you money when you are incompetent, or unable to repay the debt.


Bank loan is the best solution I will choose. Although there will be a lot of pressure, it will motivate me to try harder to achieve my goals. Borrowing money from a bank is easier and better than borrowing money from friends in this day and age, where money is valued above all other things, even brotherhood.

Friends, Money and Business.
To start a business you need experience, then support a certain amount of money to start the business. My advice (according to personal experience) is not to do any business without having experience because this action is very risky.

You also need to consider the extent of the friendship. If there is mutual trust in your friendship, there is no problem asking a friend for a loan to start a business. I prefer to implement a 50:50 profit sharing system, friends who provide capital for the business, I manage it.

Lending money from the bank to start a business is not the best solution, it is the same as tying a rope around your own neck. Newly started businesses are always faced with two possibilities, in fact most of the times I encounter small scale businesses with limited capital always end tragically.

What's the point of telling everyone about this though? OP is asking for a business idea and I believe that OP did point out about this part already so, a bit redundant of a post if you ask me. If it's a small business, you really don't have to do any advertisement because most small businesses pop up on closely knitted neighborhood in my experience so you really don't need to do any ads to promote because people are going to see your business when they walk by the general vicinity of the business.

About small business idea, the currently trending idea in my local area are food-related like milk tea shops or Korean barbecue joints, so the idea here would be to build a small business that involves serving local or a new culture cuisine, maybe building a Jamaican jerk chicken shop or Jamaican cuisine would be a good small business idea although but you have to be really cooking a really good jerk chicken because if you're not a Jamaican, at least do your best at cultural appropriation for profit.

having made mistake and failing is pretty normal in the field of entrepreneurship indeed but it also depends on how much failure you could tolerate.
there are people with not so good financial condition starting out their own business couldn't endure failing even once, there are people who already rich, starting out business they can fail 10 times and they would still leave unscathed.
that should be something that an entrepreneur should also be thinking, knowing their own capabilties, failing is okay, but you need to make sure that you don't just outright fail.
you should also have really good planning for your business to prevent any chance of failing and therefore could make your business success.
otherwise if you are doing some half baked business planning, be very sure it will just eventually falling apart and fail.

I think suggesting a business idea here may not work right. To me, I think OP should go for a feasibility study on his/her environment. What may work in your environment may not sell at all in my environment. Imagine you are trying to sell noodles in an environment with many aged people. After studying your environment, I believe you will definitely see some unlocked potentials.

I think OP is talking about traditional business ideas, he is not discussing investing in cryptocurrency. But if we talk about investing in cryptocurrency, I don't think choosing a new project or investing in altcoins is a wise choice. We have tens of thousands of tokens on the market and I don't think it's easy to spend time searching and choosing them. Instead, you should focus on bitcoin and combine with traditional business to ensure you have a strong economy, and investing in bitcoin will secure your future. Instead of spending all your time on shitcoin projects.

Failure that comes as a result of mistakes is very normal and is also part of the challenges that must be faced by business owners or people who want to do business. I also agree with what you say because success in anything that does not come by itself must always be achieved through hard effort and struggle because whether a person is successful or not in developing that business depends on how he creates a path for this and how he was diligent in trying to achieve that.

What people usually do to have a capital investment is accumulate personal savings; this is first and often done by most individuals. Second, since we are here in the crypto industry, you can also invest in new projects that have potential if you do DYOR first before you release money.

But of course, these startups that are utility tokens or altcoins have a high risk level, but when your choice is right, the profit you can get from these opportunities is also high. If you are outside of the crypto field, you can look for online opportunities, but the risk is also high, so it depends on how you manage it.

Yes I agree with that, because with a very confident effort and high ambition someone can achieve success. with a strong mentality in facing every obstacle that exists so that someone is able to get through it and achieve success, many obstacles must be passed if we want success, at this time someone's mentality is tested continuously and can someone get through it. because it is definitely there in the process of achieving success. Only people who are consistent and stick to their beliefs will achieve success with results that make them satisfied.

People who want to achieve success will face existing problems and will feel uprooted, when someone struggles and is halfway through but fails here the attitude of responsibility must be there because they have to choose to continue or stop completely, but there is also someone who stops for a moment because he needs to calm his mind to make decisions that he will take because it will determine his future, so not a few people who are in this situation they even choose to retreat because they feel they have failed and do not want to experience failure again. Of course this is a mindset that must be addressed, where when someone experiences failure they should get up and make the failure that occurs as a lesson not to be repeated later.

In fact, these are times when finding capital is, in principle, not difficult. Of course, it is best to have your own funds, or rich friends from whom you can borrow money by concluding a special agreement with them, because friendship is one thing, but a large amount of money is another, and these concepts cannot be mixed. Also now banks very easily give away huge sums of money if you justify your small business idea to them, it seems to me that this is done very easily as never before. The main thing is to calculate all the risks and profitability of the future business, so as not to end up owing money to the bank.

Yes, you are right small businesses give you more profits than 9 to 5 jobs. The business not only gives you high profits but is also very easy and control. When Bangladesh gained independence from Pakistan in 1971, they were very poor the government had no money even to construct a short bridge. After that time the government suggested people small scale businesses. the people planted a small factory in their homes and started manufacturing after some time they had very huge amount of products of different types and they exported them to other countries. The aim of telling this fact is that the people think that it will generate a very small revenue but only those people who are doing it know how much it gives profits to them.

What if the person doesn't have the money to rent a shop or an outlet? It could be that the person only has the capital to invest in the goods or whatever they want to start selling or making.

Sometimes, starting a small-scale business depends on the country or area you are living in. If it's in some countries, you can start a small-scale business without paying much tax or doing a lot of registration. An example of a simple, small-scale business you can freely do in some areas is dishwashing and handwashing liquid soap production. If you're doing it on a small scale, you don't necessarily need a shop as long as you know how to do your marketing. You can even sell it to some extended relatives, neighbors, and some local restaurants and hotels, and you can still market your products via social media, so you don't really need a physical shop to do that.

It's not easy to actually sell on an online platform even though it costs nothing, you have to be able to promote to others, become a marketer yourself how to market on social media, what items are currently trending,, indeed this must be quite skillful because it is not that easy what we imagine.

You may find herbal plants in your neighborhood but do you know how to process those plants into herbal medicines?
Herbal products in online stores have been fermented or processed in such a way that it is very rare to sell only herbal plants, that's what I know.
If you already know how to process it maybe it will be a good idea that you do for your business.

People who want to achieve success will never know the word give up, I agree with this opinion. Achieving success is not as easy as turning the palm of your hand or it can just come without consistent effort. Failure in business is a normal thing and often happens, even people who have achieved success are not immune to failure. When failure approaches you, never give up and despair, you keep getting up and trying again because failure is not the end of everything.