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Re: Before starting a business

Postby Alexandoy » 06 May 2019, 23:40

ceci wrote:Before starting a business, think 2 questions: does it viable or profitable? Second, how long you can survive without profit?
As we all know, it won't bring profit for initial stage.


The standard here regarding capital is to have the budget for 4 months of operation to cover the overhead. That means you have 4 months to prove your skills in earning otherwise you can close shop after that period.
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Re: Before starting a business

Postby tusziget » 07 May 2019, 02:57

In opening a business, a shop or something similar, it is good that you can sell it, if it doesn't work out for you.So, this way you can cover some of the costs.
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Re: Before starting a business

Postby ahmedo24 » 08 May 2019, 05:46

If the business is well planned and the marketing tools are in place at least after four months reasonable progress must have been made.
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Re: Before starting a business

Postby A K Rao » 09 May 2019, 19:38

augusta wrote:This is why we have division of labor so each task should be overtaken by each person that will aids specialization. So if one needs progress then division of labor should be applied.


So true! But that is applicable for big businesses...but in case of small business, I strongly feel that passion should be kept aside in the business! One must have the clear vision about the business to be run and the profits to be reaped taking the existing facts into consideration!
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Re: Before starting a business

Postby ahmedo24 » 10 May 2019, 04:04

You also have a good point @AK rao but passion can not set aside or left behind because every business small or big has it challenges and it is passion that will always be the driving factor to enable you overcome the challenge.
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Re: Before starting a business

Postby Alexandoy » 11 May 2019, 21:53

ahmedo24 wrote:You also have a good point @AK rao but passion can not set aside or left behind because every business small or big has it challenges and it is passion that will always be the driving factor to enable you overcome the challenge.

I agree with the passion as the driving force because it wouldn't matter if there is profit or not in the business as long as you can fulfill your passion.
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Re: Before starting a business

Postby tusziget » 12 May 2019, 03:31

Passion may be a keyword in having success with a business, because passion will drive you to find means and ways to bring profit from your business.
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Re: Before starting a business

Postby Vehlijanta » 12 May 2019, 06:37

I like to look at all the important points before putting a feet in a business even if it delays the work.
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