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Re: Before starting a business

Postby fergus1234 » 10 Jan 2019, 15:37

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.


Not all business owners though can afford labor, so sometimes they do the job themselves.They try to be a Jack of all trades.
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Re: Before starting a business

Postby mrki444 » 10 Jan 2019, 15:50

Most people who go in bussines, like girl from video, join forces with somebody who will be manager and they will stay in products.
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Re: Before starting a business

Postby fergus1234 » 10 Jan 2019, 18:33

yeah a manager who can be trustworthy and loyal. Then owner can focus on fields they were good at.
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Re: Before starting a business

Postby ahmedo24 » 11 Jan 2019, 07:51

When you don't have enough capital it is better to engage in business you have the technical know how so you can manage it yourself thereby saving cost of hiring a manager.
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Re: Before starting a business

Postby skysnap » 11 Jan 2019, 09:27

ahmedo24 wrote:When you don't have enough capital it is better to engage in business you have the technical know how so you can manage it yourself thereby saving cost of hiring a manager.


Yes in such case doing simple product sales on facebook page or anything online works on low cost as well.
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Re: Before starting a business

Postby ceci » 12 Jan 2019, 08:50

In my opinion, it needs a lot of marketing, cost control and management in running a business for making it a success, thus we need to do it in a team form since no one are perfect and good at all the aspect.
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Re: Before starting a business

Postby skysnap » 12 Jan 2019, 10:43

ceci wrote:In my opinion, it needs a lot of marketing, cost control and management in running a business for making it a success, thus we need to do it in a team form since no one are perfect and good at all the aspect.


I think some products sell better without marketing. It just requires them to reach the customers. That acquisition method is important.
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Re: Before starting a business

Postby fergus1234 » 13 Jan 2019, 06:43

Based on her story, she decided to go for a big business right away just because she have lots of money, making her overwhelmed. Everything should start with small.
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Re: Before starting a business

Postby ahmedo24 » 13 Jan 2019, 07:40

When there is enough it tend to push for rush decision which most times yield negative results, it is good to start business in a small scale to upgrade
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Re: Before starting a business

Postby skysnap » 13 Jan 2019, 08:18

ahmedo24 wrote:When there is enough it tend to push for rush decision which most times yield negative results, it is good to start business in a small scale to upgrade


Problem is some people think having money builds business. That is just not true. And that does not work as well.
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Re: Before starting a business

Postby mrki444 » 13 Jan 2019, 08:50

If you didn't have plan for everything, like she, than your Business will only eat your invested Money, not bring any.
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Re: Before starting a business

Postby fergus1234 » 15 Jan 2019, 17:27

mrki444 wrote:If you didn't have plan for everything, like she, than your Business will only eat your invested Money, not bring any.


Yeah, Just because we have money it doesn't mean we should start big right away. People should start slowly on a smaller scale so we can slowly adjust.
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Re: Before starting a business

Postby riddy09 » 16 Jan 2019, 00:53

Just like other planning and other investments on any business, we shouldn't take huge risk and do smaller ones first to test out the market of our business. If it works and profitable then, we can proceed for bigger investments if not we should try other business.
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Re: Before starting a business

Postby Katriona_22 » 16 Jan 2019, 06:15

That video is very helpful. Before starting a business you need to consider everything. The nature of your business, your capital, know your market and always to have a good strategy on how to succeed and get your capital back.
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Re: Before starting a business

Postby Kei » 16 Jan 2019, 06:19

That is why you need to understand your strength as well as the business. She could have still maintained her job while paying others to do the things she hates. Win win situation.
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