I will rather start the little business with the $15,000, firstly, before investing on a business, the person must consider some terms and conditions, conditions like If I start this little business can this business bring profit and where to start a business matters a lot for example a busy street. Also starting a business requires consistence.
I choose to start up the business with the $15,000 because if I cannot hold a $15,000 business to stand very strong I cannot do same to the $20,000.one thing I know is no matter the little capital you use in starting a business, small or big if there is no propal care for the business the business will still fall. Most supermarket, boutique shops we see today, they all started with little capital. So you can equally start a business with $15,000 and make 10× profit from what you're looking for if you invest wisely
Topic: What would you do in this situation? Invest or save? - page 12. (Read 1487 times)
It exclusively depends on what business you are going to start. I am not in your position. I can advise whatever I think, but it might not match your business plan. You should not consider people's plans in your business. You are the one who knows what you should do. I don't know what business you are planning for. If you can start the business with the $15K, you can go for it. If not, wait a little more.
For example, if you are planning for a restaurant business where most expenses are on buying furniture, decorations and other things, the food does not cost that much. You cannot start without a proper decoration. Otherwise, it will create a bad image of your business. So, as I said, it depends on what business you are planning.
For example, if you are planning for a restaurant business where most expenses are on buying furniture, decorations and other things, the food does not cost that much. You cannot start without a proper decoration. Otherwise, it will create a bad image of your business. So, as I said, it depends on what business you are planning.
If you have plans to start a dream business that requires a capital of $20,000 and you were able to make a savings of $15,000 which obviously isn't enough to start up the business, what would be your decision or advice?
1. Invest the $15,000 into a smaller business hoping that the returns will yield the remaining $15,000 in a short period. Note that this has the potential of failing and wasting the already-saved $15,000.
2. Keep the $15,000 while doing other work that will yield the remaining money over a long period.
Would love to see your input or a better suggestion apart from the ones I pointed out above.
N/B
This is the typical situation a friend finds himself and we are just brainstorming in what best to do.
If your friend has been able to be patient and saved $15,000, why is he now rushing? He is almost close to achieving his dream, let him be patient. If he is passionate about the business he wants to establish, let him focus on raising the money and avoid any form of distraction. There is no guarantee that if he invests in another business to raise funds faster, it will be successful. But if he wants to take some level of risk, he can buy Bitcoin, now that the price is somehow low, and hope that next year will be favorable. He can make some profit from Bitcoin which will make his dream. But he needs to know that nothing is certain. 1. Invest the $15,000 into a smaller business hoping that the returns will yield the remaining $15,000 in a short period. Note that this has the potential of failing and wasting the already-saved $15,000.
2. Keep the $15,000 while doing other work that will yield the remaining money over a long period.
Would love to see your input or a better suggestion apart from the ones I pointed out above.
N/B
This is the typical situation a friend finds himself and we are just brainstorming in what best to do.
1. Invest the $15,000 into a smaller business hoping that the returns will yield the remaining $15,000 in a short period. Note that this has the potential of failing and wasting the already-saved $15,000.
2. Keep the $15,000 while doing other work that will yield the remaining money over a long period.
Failure is a condition that will always be found, depending on the overall level of failure or whether it can still be repaired. Say I think $15K is a lot of capital and it can be broken down into several types of businesses. So that generating different profits, putting $15K in one basket is not a good solution.
Without knowing the nature of the commercial activity, the work is a feasibility study for it, there is no need to give you advice, and that the commercial business varies according to the market, legislation and taxes, your experience in the market and the extent of your relationships and activities, distinct from investment and profits after deducting taxes, but in general, if Bitcoin is legal in your country, the tax specialties are lower. You can wait for two years to start your project, as investing in Bitcoin will be positive, as as a result, the price rose to more than 70k within the next 24 months, with the possibility that the price will decrease.
This is not investment advice, DYOR
This is not investment advice, DYOR
Come to think about this situation if you save do we have guarantee that we cannot touch it? for sure we have also high chances to get defeated by inflation so its no sense to save for long months or years since it will just a waste of time for deciding that to do.
It depends on the specific situation and the type of business.
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Nothing more and nothing less that what Don Pedro Dinero said. You posed a general question as if there were a universal answer valid for all cases, but the most important to take into account is what type of business you are talking about.
Hewlet, if I was you, I would write a contingency plan where I would write down the possible risks, the probability for them to happen, and the impact that they would have in the projected business, and only then make the decision accordingly. If you come to the conclusion that the business is low risk, then it could be a good idea to invest these 15K. Otherwise, it can be preferable to slow things down and save until you hit the 20K goal.
If it's a dream, and you're already at $15k, I see no reason to let go of that dream and exchange it for something smaller, less relevant to you personally. So I'd try to accumulate the remaining money and go with the original idea because I believe that people should follow their dreams when it's possible to do so. Sure, it may not work out, but at least this way I'd know that I tried, whereas if the smaller option doesn't work out, there'd be more regret.
But another thing I'd reflect upon at this point would be whether I actually want that particular business and why.
But another thing I'd reflect upon at this point would be whether I actually want that particular business and why.
$15K is already huge. What kind of business are you planning? And also what are your reasons why you concluded that you needed $20k for that business? Just a tip try to run down and calculate again what is needed to put up that business because there is a possibility that the total is just $15k or less and you just overprice those other things. Try to make a list to list it down and if the price is needed you need to go to a local supplier and ask for the price and that is where your base is.
If $20k really is the result then I would wait and still save more to have $20k and start the business only if that business is really feasible and you are very sure that it is a good business and not just thinking about it overnight and deciding it.
If $20k really is the result then I would wait and still save more to have $20k and start the business only if that business is really feasible and you are very sure that it is a good business and not just thinking about it overnight and deciding it.
If you have plans to start a dream business that requires a capital of $20,000 and you were able to make a savings of $15,000 which obviously isn't enough to start up the business, what would be your decision or advice?
1. Invest the $15,000 into a smaller business hoping that the returns will yield the remaining $15,000 in a short period. Note that this has the potential of failing and wasting the already-saved $15,000.
2. Keep the $15,000 while doing other work that will yield the remaining money over a long period.
Would love to see your input or a better suggestion apart from the ones I pointed out above.
N/B
This is the typical situation a friend finds himself and we are just brainstorming in what best to do.
1. Invest the $15,000 into a smaller business hoping that the returns will yield the remaining $15,000 in a short period. Note that this has the potential of failing and wasting the already-saved $15,000.
2. Keep the $15,000 while doing other work that will yield the remaining money over a long period.
Would love to see your input or a better suggestion apart from the ones I pointed out above.
N/B
This is the typical situation a friend finds himself and we are just brainstorming in what best to do.
Come to think about this situation if you save do we have guarantee that we cannot touch it? for sure we have also high chances to get defeated by inflation so its no sense to save for long months or years since it will just a waste of time for deciding that to do.
If you have capital to use much better if you invest it and find multiple ways to make that money generate you an income since over the years you can make sure that your money grow. But just make sure that you are going to invest on legitimate programs and not to those scammers who promise heaven and earn to us so we will not waste our hard earned money for wrong investment decision we take.
You're just short on $5,000, which means you could still start a business where you'll have to budget that $15,000. For example, your plan is to buy equipments that require like $5,000, of course you'll have to be creative and to find a way like DIY tables and chair just for you to start a small business. When you just starting to plan a business for sure you are aware of the risk. Even you completed that $20,000 you could also still lose. So there's actually nothing wrong starting from a small capital as well a small business. It would only depends on the owner how he could handle his business like target customers.
If you have plans to start a dream business that requires a capital of $20,000 and you were able to make a savings of $15,000 which obviously isn't enough to start up the business, what would be your decision or advice?
1. Invest the $15,000 into a smaller business hoping that the returns will yield the remaining $15,000 in a short period. Note that this has the potential of failing and wasting the already-saved $15,000.
2. Keep the $15,000 while doing other work that will yield the remaining money over a long period.
Would love to see your input or a better suggestion apart from the ones I pointed out above.
N/B
This is the typical situation a friend finds himself and we are just brainstorming in what best to do.
Starting a business certainly requires a process, it cannot be denied that at the start of a business you will face failure first. This is certainly a lesson to be able to fix the points of failure that we experience. Therefore, I am more interested in choosing the first option of starting a small business from the bottom with the hope of achieving success in the future1. Invest the $15,000 into a smaller business hoping that the returns will yield the remaining $15,000 in a short period. Note that this has the potential of failing and wasting the already-saved $15,000.
2. Keep the $15,000 while doing other work that will yield the remaining money over a long period.
Would love to see your input or a better suggestion apart from the ones I pointed out above.
N/B
This is the typical situation a friend finds himself and we are just brainstorming in what best to do.
Well, I would weigh up the risk percentage of the two options to see what has the biggest risk and then I would steer away from that. In my country 2 out of 5 businesses fail within the first 3 years, so I would make sure that I do enough market research to see if I can be one of the 3 that make it.
I take it the other option is some kind of investment or even fixed Bank account with lower profit/interest? If your friend are young.. then taking chances ..carry lower risk, because if it fails... he or she has enough time to recover again.
I take it the other option is some kind of investment or even fixed Bank account with lower profit/interest? If your friend are young.. then taking chances ..carry lower risk, because if it fails... he or she has enough time to recover again.
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A loan to cover the 5000$ would be my take, but maybe I will take some more just to cover up some additional unforeseen costs. You just have to be in the debt as long as you can cover it and pay the monthly installment.
If you can start off with 15k then by all means do so, but if you are thinking of avoiding a loan, you are making a mistake. Loans and businesses work hand in hand, both exist to supplement the other and that is why the government pushes loans at lower interest rates to small businesses. If you are in the business you will be taking loans at some point or another.
If you can start off with 15k then by all means do so, but if you are thinking of avoiding a loan, you are making a mistake. Loans and businesses work hand in hand, both exist to supplement the other and that is why the government pushes loans at lower interest rates to small businesses. If you are in the business you will be taking loans at some point or another.
I don't understand with people who have such mindset where they must obtain specific amount of money to start a business.
The most important thing in business are idea and execution aka human resource, not money aka capital resource.
If you have a human resource, you can create a proposal and communicate with investors about your business. If your business are really good, they will not reject it.
Even you only have limited capital, you can start from small.
The most important thing in business are idea and execution aka human resource, not money aka capital resource.
If you have a human resource, you can create a proposal and communicate with investors about your business. If your business are really good, they will not reject it.
Even you only have limited capital, you can start from small.
If it was me, I wouldn't just prepare the money if I want to start a business, I would also prepare skills and deep knowledge that relevant to the business I would like to start skills and knowledge is also a capital/investment if I want to start a business, so in this case, if the $15,000 is not relevant with the skills and knowledge that I already gain, then I would prefer to safe the more money, but if with the $15,000 is relevant to those skills and knowledge, then I would probably just start with $15,000
2. Keep the $15,000 while doing other work that will yield the remaining money over a long period.
Realistically, I lean more toward option number two. Please discern between what constitutes a dream business and what qualifies as a side hustle. A dream business embodies one's aspirations for its operation. By having such a business, we've at least carefully considered why we regard it as our dream endeavor.Waiting a bit longer isn't an issue, even though there are shortcuts promising acceleration but laden with risks. In fact, it's even riskier if we're not prepared for those potential pitfalls.
I can sense the lack of confidence in the job the OP is pursuing here, as he mentioned failing quite a bit in a beginner field.
I agree that the biggest risk here is probably lack of experience, not lack of capital, so either you will continue to work parttime to gain experience, or you will spend money on experience to get back your lessons. But it's easy to recalculate the balance versus risk so you look at investments for the next few years to have basic financial support for long-term business operations.
I agree that the biggest risk here is probably lack of experience, not lack of capital, so either you will continue to work parttime to gain experience, or you will spend money on experience to get back your lessons. But it's easy to recalculate the balance versus risk so you look at investments for the next few years to have basic financial support for long-term business operations.
If you have plans to start a dream business that requires a capital of $20,000 and you were able to make a savings of $15,000 which obviously isn't enough to start up the business, what would be your decision or advice?
In reality, in every business there must be a plan and a realization. A business plan that requires $20k in capital should be able to start with $10K. In every business there must be a priority scale, which are primary needs and which are secondary needs.
Yes, I know this is just wishful thinking, but in practice, if this business can't be started with $10k in capital, chances are your business plan isn't mature enough. So no need to hesitate, $15k is enough to start your business
1. Invest the $15,000 into a smaller business hoping that the returns will yield the remaining $15,000 in a short period. Note that this has the potential of failing and wasting the already-saved $15,000.
2. Keep the $15,000 while doing other work that will yield the remaining money over a long period.
I will definitely choose the second, and I must tell you that I've been in this shoe before, it's also in many occasions, regrets are mostly the lot of those who choose the first option as they rely too much on luck to have the chance of making it possible. But, unfortunately, most ended up losing it or wasting most portion of it. Money is not easy to come by, preserving the ones we have if we don't have a better investment to channel them to is the best. It's better not to invest at all than to be involved in a business that can't guarantee a good return in such a chance and assurance that will guarantee the preservation of the money.2. Keep the $15,000 while doing other work that will yield the remaining money over a long period.
This narration doesn't translate to the fact that the person doesn't have a source of income or suffering from a lack of investment. This makes the wait to be worth it instead of losing the money and starting all over again and regretting it.
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