RE: Musing Posts 3
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Musing Posts 3
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When a new business can generate profits, depends on the type of business and the amount of capital issued.
Usually a business engaged in services, more quickly generate profits from businesses related to goods and buildings.
Such as my example that opened a laundry business, in the first two months I have earned the equivalent of one time capital I spend.
I see the service field is very promising with a rapid turnover of money as more and more users.
I suggest for those who want to do business, look at all the opportunities that exist around you, and dare to try to open their own business.
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Depends mostly on three main things: DEMAND. SUPPLY and QUALITY of the product/service.
If you're business is currently in demand or will be in the future, then you should expect profit as soon as possible. This also assumes that you have sufficient supply to go with the demand and the quality of your product/service is at least "decent" or "exceptional".
One major reason why businesses fail is that they focus too much on marketing. These three should go hand in hand together. If you have too much demand and little supply, people would think that your product is unreliable. If you have too much supply but less demand, people would think that your product is lame.
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A new business should start expecting profit fron the first six months of doing the business but it also depends on the kind of business,some business do have delay in making profits so for such business at least a year will be ideal for exoectation of when to make profits
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