Post
Topic
Board Economics
Re: What are some financial secrets that you know of?
by
chrisculanag
on 01/08/2023, 17:03:20 UTC
As for the business, I haven't planned much because I don't have enough capital for it yet, but I have a loading business that will somehow generate income, but it's not big.

It is good to attempt to work around some businesses that you know, and in that way sometimes you can end up getting some insider information, and then to build bigger and bigger jobs upon references, and sure at some points, there might be preferences for capital injections, but capital injections are not going to necessarily improve your situation, if you are not able to use that capital in ways that is able to pay back more than the capital that you had injected, and sometimes the pay back might not come within the first year or two of the injection but might take a while before something like good will increases to compound upon itself resulting in higher paying and/or more profitable jobs..
That's a good strategy, if I'll learn more and when I become more experienced then I'll resign from this job and try to start my own business but of course not near the place of your old job in respect to it. It is also a good idea to study each area that is in line with the business to be built because its capital has a better chance of growing.

It is not easy to get business partners because you have to show your business plans to get it. There is a chance that their goals are different but if everyone gets along right away they will have a stable business. It is true that having business partners is very helpful because it will increase the capital investment and above all it will be easier to handle the establishment of the business.

From what I've seen around me, when it comes to getting a business partner, most people can do it in two ways, even though basically it's not easy. But some people can use a way to get a business partner by getting closer to other business parties with the aim of mutually benefiting each other, which of course must make an agreement before entering into this collaboration because as you said, other people's goals are usually very often different from the goals we will build in our own business. So it is clear that it is rather difficult to build cooperation with other parties even though it is for mutual benefit, and one more way is relatives or family themselves who have already built a business so that it can be a little easier for us to become partners as long as it does not harm each other.

You have a point there, it's good to have business partners who know how to agree with our plan. Because there will be understanding and there will be more cooperation because of this. It is also right to have agreements because it is very important for the beauty of the business that includes good plans for building their business. Because of the understanding there is a chance to have a big profit.