Quote from: davinchi on September 26, 2017, 05:08:39 AM

Quote from: Smarty14392 on September 19, 2017, 10:40:25 AM

Quote from: Aprijhunot on September 10, 2017, 07:16:25 AM

1. Do not invest your own money

Since most businesses are risky, seek partners. So, if things do not go all the way, you will not go bankrupt because of the start-up funds, and not pursued debt.

2. Work hard

If you are not willing to work hard, overtime, forget personal gain and health, then entrepreneurship is not for you. At first, you definitely will not be able to pay employees, even if the employees are cheap. So, your employees are your own.

3. Use the latest technology

New technologies such as applications and data storage with cloud technology are very cheap and make small companies able to compete with large companies. Take advantage of low cost technologies on the market.

4. Respect the time

Rate the money in your time, for example Rp20 thousand per hour. This will help when you have to make a decision: If a store charges Rp10 thousand for shipping every week, and it takes you 2 hours to go to the store itself, then pay for the postage from the company, because it is cheaper.

5. Realistic

When creating a business model, look around and look for a successful example of the business model you want, then learn. If you can not find, whether you are an incredible genius, or your business model will not work in the real world.

6. Sell excess, not price

You start a business, you are naturally frustrated marketing it. But, if you compete on the price, you will end up selling at barely or even under capital. Master the skills of communicating with customers, to explain that your product price is higher because it has a better value

You have elaborated all the necessary points in a very good way. I will definitely agree to what all you have said. I think before doing up anything or starting any business, you need to have a good knowledge about that business.

Look out for Product, People, Price and Place. All these things will be affecting the most and this will decide how much profit you will get.

If you dont invest your money, whose money will you invest, my own? Lol. There are different types of business to get into, and some them requires your money while some of them do not. So for you to succeed in a business, you will have to know whats required and do it first.

I think investment is the very first thing to do before starting any kind of business. You surely need a good amount of money if you want to establish your own business.

In my opinion, the very first thing you need to consider before even starting of business is making the right choice of which business to start.