Which business profit model do you prefer? - page 3.

stomachgrowls

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Quote from: Oasisman on January 30, 2022, 05:57:35 PM

Quote from: Rruchi man on January 29, 2022, 01:03:35 AM

I've been giving this a lot of thought lately, Which kind of business model would you prefer, will you prefer the kind of business where profit can be from both the rich and poor, that is huge profits occasionally and small profits daily?

Or the the sort that only attends to the rich, and the poor cannot afford it, that is your profit is from the rich alone and usually huge, and comes occasionally?
Please give reasons for your choice

Business model for the rich as a target market will surely be expensive. I mean rich people loves spending too much on the things that gives them comfort, entertainment and convenience all at the same time. Now, If your risk appetite is huge enough to fund the kind of business model you want then go for it because once your business took off you'll be expecting huge profit than starting a business designed for the average people.

There are indeed different business models which would neither be a big scale or small scale which do also needed whether a big capital or small capital which it would be understandable if you do deal of

with businesses which is expensive to start with then of course it would be just common sense that this do require sufficient and exact capital for you to start with but to mind off about profits then it would be also bigger.It would be always on equal ration and same goes into those business that do only require small amounts or not really that much expensive to start with.

Silberman

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Quote from: Cling18 on January 30, 2022, 11:50:08 AM

Quote from: Rruchi man on January 29, 2022, 01:03:35 AM

I've been giving this a lot of thought lately, Which kind of business model would you prefer, will you prefer the kind of business where profit can be from both the rich and poor, that is huge profits occasionally and small profits daily?

Or the sort that only attends to the rich, and the poor cannot afford it, that is your profit is from the rich alone and usually huge, and comes occasionally?
Please give reasons for your choice

I would prefer a profitable business wherein both rich and poor people could afford it. If I will put up a business, I want to make sure that it would be affordable for everyone regardless of their social status as long as I'm getting a good profit from it. After all, the customers' financial status doesn't matter that much as long as I would have an effective marketing strategy.

Most of the time as a business you need to decide which is your target market, for example if you decide to manage a restaurant then you need to decide on what kind of food you will serve and the price you will charge, if the price is affordable then more people will choose your restaurant, but those with a lot of resources will probably like to go to a more expensive and exclusive place, and if you charge too much and the food is great then you could get wealthy customers, but now a lot of people cannot afford your prices.

FanEagle

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Quote from: Oasisman on January 30, 2022, 05:57:35 PM

Business model for the rich as a target market will surely be expensive. I mean rich people loves spending too much on the things that gives them comfort, entertainment and convenience all at the same time. Now, If your risk appetite is huge enough to fund the kind of business model you want then go for it because once your business took off you'll be expecting huge profit than starting a business designed for the average people.

I am not entirely sure if it is exactly that expensive as people imagine it is. My friends wife's friend built a clothing company, it is basically very oversize, like nearly all your body close to your feet winter coats, like that garbage bag looking ones, and they were selling it for 500$+ each.

It cost them like around 25$ or so to make them, and that was mainly because they were getting low orders made at the start, maybe it wasn't that expensive if you ordered like ten thousand of them, but that was the price at the first 100-200 orders. So, this dude managed to just design something, then talked with some manufacturers and then sold something for 500$ each, which could have made him double profit if he sold it for 50$.

It is not easy to convince rich people to spend their money on you, but it is easy to convince their wife's, ex-wife's, children and so forth to spend that rich persons money on your products, that is the people you have to try to get, not the rich people directly, or at least that is what he said.

lumbanrang

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I will choose to have a business with a small income but every day, because then I will be able to calculate how my business will run in the future. I can use some of the profit I get for investment and recalculate it. And this way it is much easier to make decisions in the future.

Oasisman

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Quote from: Rruchi man on January 29, 2022, 01:03:35 AM

I've been giving this a lot of thought lately, Which kind of business model would you prefer, will you prefer the kind of business where profit can be from both the rich and poor, that is huge profits occasionally and small profits daily?

Or the the sort that only attends to the rich, and the poor cannot afford it, that is your profit is from the rich alone and usually huge, and comes occasionally?
Please give reasons for your choice

Business model for the rich as a target market will surely be expensive. I mean rich people loves spending too much on the things that gives them comfort, entertainment and convenience all at the same time. Now, If your risk appetite is huge enough to fund the kind of business model you want then go for it because once your business took off you'll be expecting huge profit than starting a business designed for the average people.

Wawa2013

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Quote from: qwertyup23 on January 30, 2022, 04:31:55 PM

Quote from: Cling18 on January 30, 2022, 11:50:08 AM

Quote from: Rruchi man on January 29, 2022, 01:03:35 AM

I've been giving this a lot of thought lately, Which kind of business model would you prefer, will you prefer the kind of business where profit can be from both the rich and poor, that is huge profits occasionally and small profits daily?

Or the sort that only attends to the rich, and the poor cannot afford it, that is your profit is from the rich alone and usually huge, and comes occasionally?
Please give reasons for your choice

I would prefer a profitable business wherein both rich and poor people could afford it. If I will put up a business, I want to make sure that it would be affordable for everyone regardless of their social status as long as I'm getting a good profit from it. After all, the customers' financial status doesn't matter that much as long as I would have an effective marketing strategy.

This kind of business model is relatively difficult to materialize, as most business target profit as their main goal in the process. If you were to target "poor people" as your main customers, this would sacrifice the potential of profit-making in the process as you would have to consider the factor of being achievable and purchasable at the same time.

If I were in your position, I would focus on targeting people on the middle class sector as my main consumers as they would have the means to purchase or acquire the product. From this kind of business model, I would most likely be available to the general public as the price would be attainable at the same time.

The middle class sector is indeed the best target for the business we will run. Because like you said if we target the lower class, then we have
to reduce the profit we generate, so that our products can be purchased. Then to sell products by targeting the upper class can indeed provide
a very large profit, but we also need big capital to make high quality products. Because rich people usually only want to buy good quality products,
so if we are beginners in the business world, it is best to focus on selling products to the middle class. And remember starting a business is not easy
and requires a long process, so never give up when we have difficulties. All problems always have a solution, never stop learning, especially
learning from failure is the most important thing to make our business stronger.

Ultegra134

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Let me express it differently, the majority of the earth's population fall within middle class. Thus, focusing on the rich would require further specifications to meet their demands, and since they are a microscopic minority, your customer base would be restricted.

Therefore, by emphasizing the average customer, we'd achieve a significantly larger audience, which would also require less effort and qualifications.

qwertyup23

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Quote from: Cling18 on January 30, 2022, 11:50:08 AM

Quote from: Rruchi man on January 29, 2022, 01:03:35 AM

I've been giving this a lot of thought lately, Which kind of business model would you prefer, will you prefer the kind of business where profit can be from both the rich and poor, that is huge profits occasionally and small profits daily?

Or the sort that only attends to the rich, and the poor cannot afford it, that is your profit is from the rich alone and usually huge, and comes occasionally?
Please give reasons for your choice

I would prefer a profitable business wherein both rich and poor people could afford it. If I will put up a business, I want to make sure that it would be affordable for everyone regardless of their social status as long as I'm getting a good profit from it. After all, the customers' financial status doesn't matter that much as long as I would have an effective marketing strategy.

This kind of business model is relatively difficult to materialize, as most business target profit as their main goal in the process. If you were to target "poor people" as your main customers, this would sacrifice the potential of profit-making in the process as you would have to consider the factor of being achievable and purchasable at the same time.

If I were in your position, I would focus on targeting people on the middle class sector as my main consumers as they would have the means to purchase or acquire the product. From this kind of business model, I would most likely be available to the general public as the price would be attainable at the same time.

Oceat

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As far as I know, if you want to work on your way to the top you have to deal with the people from below which is the poor or the average people who can easily avail to your market. Please know that minorities are more than those who sits at the top which I mean is the people above average or those who'll be able to afford a luxurious lifestyle.

So if I would be to start, I would start with the small one which will bring more people and eventually will lead more people to promote my product which is my unique expertise until I gained enough trust and positive feedback from my clients and then make/invest more things that's luxurious only for rich people to make some acquaintances and also to know the biggest names in business industry.

Well, it really depends where you want to start though but you should know the risk of dealing projects/investment since not everyone could survive from it especially with the high risk, high return.

Captain Corporate

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Quote from: TribalBob on January 30, 2022, 04:15:07 PM

a business that I always hope for every day with not much profit, but every day always profit, that's all.
but the fact is that every business always has ups and downs, not always profit. sometimes we have to arrange the right finances so that when we lose, there is a cover fund for the day when we experience a loss

Am I a weirdo or is the regular neighbourhood small shop deal looks fine only to me? I know that there is a good chance you could bankrupt with an idea like that, and I would never do that (nor would I probably ever have enough money for it) but I feel like if you have a corner shop in your own hood, like maybe 100-200 meters away from your house, something small, like I don't know a butcher, or a bakery, or grocery store, or barber whatever you know? Something like that usually has ups and downs like that, but usually ups most of the time. Like lets take a simple bakery for example, in that bakery you buy machines and dough and other stuff to make things, and then you sell it for a profit, but before you sell it for a profit, you made a loss by spending money, then you may or may not sell and make a profit, its a risk but I feel like its a cute and cool one.

TribalBob

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a business that I always hope for every day with not much profit, but every day always profit, that's all.
but the fact is that every business always has ups and downs, not always profit. sometimes we have to arrange the right finances so that when we lose, there is a cover fund for the day when we experience a loss

Husires

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Rich and the poor are linked to thinking, whatever people think, giving money will not change anything.

The more models are based on reducing the gap between the rich and the poor, the better than those that increase the difference between, but the differences are:

people's education
financial knowledge

Choose several people at random and give them a million dollars and after a year you will find that some of them are rich and some of them are poor.
All models give the stupid money person less gain or loss.

Oilacris

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Quote from: Cling18 on January 30, 2022, 11:50:08 AM

Quote from: Rruchi man on January 29, 2022, 01:03:35 AM

I've been giving this a lot of thought lately, Which kind of business model would you prefer, will you prefer the kind of business where profit can be from both the rich and poor, that is huge profits occasionally and small profits daily?

Or the sort that only attends to the rich, and the poor cannot afford it, that is your profit is from the rich alone and usually huge, and comes occasionally?
Please give reasons for your choice

I would prefer a profitable business wherein both rich and poor people could afford it. If I will put up a business, I want to make sure that it would be affordable for everyone regardless of their social status as long as I'm getting a good profit from it. After all, the customers' financial status doesn't matter that much as long as I would have an effective marketing strategy.

Then what would it be? Its the thing on where OP been asking on what kind of business model would it be on which rich and poor could able to deal with it or simply wont really be that mindful or depending about capital.We couldnt really able to avoid to say that there are things which rich ones are the only ones on capable on maximizing certain factors which a poor cannot
which it would really be truly and advantage compared to another.

Marketing does play a big impact on someones business and as said even by others, it wouldnt matter on what it would be as long you are earning on gradual phase and sustainable
kind of business.

el kaka22

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Quote from: Ulven on January 30, 2022, 09:04:09 AM

Business success depends on marketing, you can seek to target segments of society, and you will succeed in your work. This is the golden rule of marketing!!!

Marketing is about reaching the people who are most likely to buy your product or service. If you create a marketing campaign aimed only at the wealthy, for example, but your product isn't something that wealthy people really care about, your campaign will fail miserably. If you market to the poor, but your product is unaffordable to most of them, again, you fail. The best marketing is one that reaches the people who care about your product or service the most.!!!!
There is a word for this kind of marketing: targeted marketing. There's an adage that says, "it's much easier to find a needle in a haystack than it is to find a needle in the haystack".

The thing is, the models still doesn't matter when we are talking about marketing, we need a big amount of marketing in every single possible model. The question was which model would you like to do, not what type of thing helps the business be great. I personally would prefer B2B subscription based models. That means you are selling some to companies that they pay each month and you could calculate your ins and outs based on that.

Does this mean I can't do marketing? Or I need to do more? Every single type of setup will require some marketing, the model doesn't change it. You could be "selling" users as well, like facebook or instagram or whatever, and that is basically the whole deal, marketing is required everywhere.

Cling18

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Quote from: Rruchi man on January 29, 2022, 01:03:35 AM

I've been giving this a lot of thought lately, Which kind of business model would you prefer, will you prefer the kind of business where profit can be from both the rich and poor, that is huge profits occasionally and small profits daily?

Or the sort that only attends to the rich, and the poor cannot afford it, that is your profit is from the rich alone and usually huge, and comes occasionally?
Please give reasons for your choice

I would prefer a profitable business wherein both rich and poor people could afford it. If I will put up a business, I want to make sure that it would be affordable for everyone regardless of their social status as long as I'm getting a good profit from it. After all, the customers' financial status doesn't matter that much as long as I would have an effective marketing strategy.

pawanjain

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Quote from: Rruchi man on January 29, 2022, 01:03:35 AM

I've been giving this a lot of thought lately, Which kind of business model would you prefer, will you prefer the kind of business where profit can be from both the rich and poor, that is huge profits occasionally and small profits daily?

Or the the sort that only attends to the rich, and the poor cannot afford it, that is your profit is from the rich alone and usually huge, and comes occasionally?
Please give reasons for your choice

The choice is quite obvious for me. I would personally choose the first one with rich as well as the poor.
This way I would be able to attract many eyes towards my business and it just won't depend on a few people.
In terms of crypto, it would be more decentralized to hold many small peers than to hold few big peers.
It might not yield as big profits as the second one but it sure would be safer and securing the capital is my primary goal.

Dunamisx

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Quote from: Rruchi man on January 29, 2022, 01:03:35 AM

I've been giving this a lot of thought lately, Which kind of business model would you prefer, will you prefer the kind of business where profit can be from both the rich and poor, that is huge profits occasionally and small profits daily?

Or the the sort that only attends to the rich, and the poor cannot afford it, that is your profit is from the rich alone and usually huge, and comes occasionally?
Please give reasons for your choice

As for me i will prefer both, one thing we must bear in mind is the fact that every personalty has its own quota contributed on someone's business and both the daily and occasional flow from the rich and poor are needed and i see building a credible customer service relationship is the key because either of the two may cease to flow but the other can be an alternative to cover up while everyone is embbeded with the chance and opportunity to go up or down, meaning the poor can one day be rich and the rich can turn poor within a blink of an eye.

Darker45

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It's an interesting question for somebody who thinks of starting a business. But, personally, I don't consider such question when I do business. While those who are less privileged will always have a special place in my heart and mind, I don't think I will do business with them as my primary consideration.

Having said that, my first consideration would be, how much profit would I be getting? That's regardless of whether it comes more often but in small amounts or in huge amounts but less often. If I were to choose between $10 daily or $100 weekly, I'd choose the latter. But if I were to choose between $20 daily and $100 weekly, I'd choose the former. But, of course, this is just one of many considerations.

Ulven

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Business success depends on marketing, you can seek to target segments of society, and you will succeed in your work. This is the golden rule of marketing!!!

Marketing is about reaching the people who are most likely to buy your product or service. If you create a marketing campaign aimed only at the wealthy, for example, but your product isn't something that wealthy people really care about, your campaign will fail miserably. If you market to the poor, but your product is unaffordable to most of them, again, you fail. The best marketing is one that reaches the people who care about your product or service the most.!!!!
There is a word for this kind of marketing: targeted marketing. There's an adage that says, "it's much easier to find a needle in a haystack than it is to find a needle in the haystack".

andriarto

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Quote from: takngantuk on January 30, 2022, 06:42:18 AM

Quote from: YOSHIE on January 29, 2022, 08:17:33 AM

China is known to the world in the trading business, generally buying / selling, one principle they pursue in business, (small profit, but routine all the time), if you ask me personally obviously I choose small profit, this is outside crypto.

The reason is simple:
• In business if you sell a product at a high price and make a big profit, of course people will buy it only once, so your product turns in slow (expensive) buying and selling.
• In the business of buying and selling for small profits, the rotation of your product is fast, your business will grow in minutes, hours or per day, automatically your products are selling well because (cheap).

with a small profit taking business, your economy is growing fast, instead of selling a big profit business one month one product sold.

I also agree with you. it is better to earn a small but regular profit, than a big profit that is only occasionally. it may be good to get big profit, but in this business it is not a good choice. It's hard to thrive when you're only making occasional profits. as you said, china applies the principle of "small profit, but routine all the time" that's why their business is growing fast and their products are cheap compared to other countries.

small profits but in large quantities it will get a big profit too. On the one hand, in business, I think the faster the velocity of money, I think it will be better, because growing the company's financial governance will be healthier. by taking small and measurable profits, this can reduce the selling price so that it is not burdensome for consumers, and can compete in the market

Topic: Which business profit model do you prefer? - page 3. (Read 671 times)