Hello ultimate reader!
The whole concept of having and building a personal business is for profit making, nothing more nothing less. A good business should be able to yield the calculated amount of profit or more at the right time .
I would encourage you to read what I wrote about the Do's and don'ts of business , After reading what I have for you here .
Analysis should be the first step you should take after picking the business you want to invest in . It's like the theoretical part of building your business. If you fail to analyze , you lower the chances of your business succeding .
The questions you should ask yourself is
What are the 4ps of production telling you to produce?
If it's an SME(Small AND Medium-sized Enterprise) . You need to look within the environment of establishment to see if the neighborhood is good for production .
Does the location have the natural resources or the consumers for production?
Is there any need to partner with another producer ?
Well some businesses do not require much questions like this . For some businesses everyone is a potential customer examples are food&beverage retailers , transporters, tailors . Getting online surveys about the product or service you want to provide will enhance analysis.
If you are still confused on what business you want to invest in with your capital , that won't be a problem after you are done reading. I'll be listing some business you can invest in, I'll advice you to do a wide and deep research after picking up a business and also read the DISCLAIMER of this blog .
THE INTERNET
There are lot of businesses one can venture into on the internet . Distance is no longer a barrier when the internet is involved. This enables a producer or service provider to reach customers seamlessly . But pls you have to be beware and consious of Internet fraudsters . I'll list some business you should learn about.
CRYPTOCURRENCY & FOREX
Cryptocurrencies are virtual and valuable coins . Professional Crypto traders study and knows how the volatile nature of crypto currencies works and makes money out of it. I see the price graph of cryptocurrencies as a wave with uneven crest and trough moving in an inclined direction . It requires understanding on why a trend is occurring and it also requires patience lots and lots of patience .
Forex is more deep and wide than crypto currency . Cryptocurrency is just a unit in forex . I'll have love to explain in details but it's better you make a research on your own for proper understanding.
It's not a business anyone should rush into as it could cause instant loss. You should invest in acquiring knowledge about these businesses before deeping your hands into them.
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