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Sallu

Tuesday 9 February 2021

How can I open a small business with a small investment in this pandemic time


How can I open a small business with a small investment in this pandemic time?

 How can I open a small business with a small investment in this pandemic time I have gotten this vague kind of question hundreds of times over the years, it presupposes oddly that there're such a best opportunities for people with no general or particular skills, equipment, assets, aptitudes, personal networks, family, industry knowledge, local knowledge, and any kind of business experience, work experience, and generally very small cash and credit. It’s unanswerable except at the most trivial level, for example, start a service-based business as those require the least equipment, space, and cash.

Small Business with a Small Investment:

There is always multiple type of crises and threats going on throughout human history its in around the world, what seems like a protected, safe and easy time to start a business means you are not paying enough attention for that to your environment. That is why the historically owners of the business consume lot of news from more sources and a wider circle of friends and colleagues than anyone (far more than spies or intelligence specialists!) If you read the right things and right stuff you can stay more than 5 years ahead of the ill-informed and incurious who're the most of your competitors in market level, lenders, suppliers, landlords, regulators, and customers in market. People asking me about getting started in business opportunities that were quite available and did well but are now saturated or the driving trends are over is sadly the most of common. If it’s obvious, it’s usually over as better an opportunity, especially if it’s easy to get into.


You're the best opportunity so map out what you've and know about that NOW (which is both encouraging and daunting as no one starts out with anywhere near everything desirable already in hand. Your network is highly essential but people think about that who they know about that knowledge very chaotically as though writing it down on a large piece of paper (so you can draw connecting lines, highlight, and much more. faster and more readily than with a tool or any software of that). Mapping your accumulated skills from the past jobs, also current jobs, volunteer experiences, from your family, your best hobbies, and sometimes even from your formal education (a hard place to get useful skills or knowledge out of as you have already noticed) should reveal some of them unexpected patterns that suggest businesses you could do best and well enough to make earn money and cover lot of the work of yourself initially.

Then look at what the existing competition is locally in  market level for each of the businesses of there that interest you. I’m continually dismayed at people who have not done any analysis of their competitors in market level and often declare (ignorantly) that offering the cheapest price and the good service locally will solve all the problems and quickly gain all the market share by year . Being the highest cost/lowest volume/lowest margin competitor is a disaster when you think about it despite how popular that naïve strategy is. You need the highest possible margins to survive the small volume of business of early sales and to grow your venture from profits rather than debt.


2 comments:

  1. the best work to do during this pandemic is you can start online trading with nifty 50 companies list

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