How to start a business in low investment - Otta.com
While growing you must have heard from someone that " I don't have much money otherwise I would have started my own business and earn lot of money. Well, I have heard this statement many times. Few years before I came to know that my perception and thinking related to business startup was completely wrong. However we can start our own business with less investment through which we can earn lot of money and freedom.
Among this 6 criteria, if you are fit even in two then this article will be very beneficial and useful for you
1. You want to start your business or wanted to learn some useful and important things related to business.
2. You don't have much money for investment.
3. You want to do what you love and be happy.
4. If you want your yearly net income more than 30 millions.
5. If you are alone in your team or 5 people or less then that.
6. If you have no special skills.
The book summery which I am going to give, the book author has taken interview of 1500 businessman Entrepreneur and has done a survey who all were fitted in the 4 criteria among st 6.
1. Three thing you need
In a simple way, to do business you need three things. First and most important thing is a product or a service which you can sell to others. Second, some people who must be ready to purchase or buy it from you. And third, a way through which you can easily do money transaction. And when you mix these three point you can become an entrepreneur. Earlier it was very difficult to convert these three things into reality or to make it possible. To create a product there was a need of lot of money, a proper place and was need of many people to create it etc. To search customer it require a lot of money or had to put lot of effort in order to reach them. But today things have changed, Today with the help of internet and technology you can create your product anywhere at home or while travelling world and can make your product reach the whole world through internet and also can sell your product to them through internet. Today many people are doing business through which they are generating a good amount of money. So don't think that you need a lot of money to start a business.2. Area of Convergence
Area of Convergence is the interaction in between two circle in which First circle represent your passion and second circle represent things which people care for or thing which people need. If you want to earn money then you must pay more attention to this area. Example: Your passion can be many things like eating ice cream, roaming etc. but if people are not getting any benefit from your passion then you can't earn money out of it. Hence it is very important for you to do business related to the interaction in between passion and people's need.3. Skill transformation
Many time your passion will not create a business but skill related to your passion will able to create a business. Example: Gary leff passion was to travel especially international travelling. He know very well that no one will pay him or give money to travel. So he started a business of miles redeem. The skill which he had learned through his international travelling. Some airline companies runs a program and participating in it or using their flight. Most of the time we will get reward point or mile point for that and when some specific miles get completed then you can redeem that point and can get free flight ticket as well. And this example is a result of this formula Passion?Skill + Usefulness= Success.4. Add Value to get freedom
Before starting a business a very important thing which you must keep in mind is how much value you are going to add in others life through your product and services. The more you create value for them the more successful your business will be. Every person needs something more in his life or something less like people need more love, acceptance, free time etc. and if you are able to give these things to them through product and services then you will start creating value. And the opposite of it, you can earn money even by reducing things like less stress, by reducing conflict or by reducing their struggle or uncertainty etc.5. Difference between features and benefits
One more thing about which you must be aware is the difference between features and benefits. Features is something which you can describe through words whereas benefits is something which gives emotional message.
This is dummy text. It is not meant to be read. Accordingly, it is difficult to figure out when to end it. But then, this is dummy text. It is not meant to be read. Period.
1 comments:
Click here for commentsGood article! I see your points as being valid and I appreciate the way you expressed yourself in this material. This is really excellent content. Building a successful and profitable business just got easier. You are just seconds away from the essential training to starting a small business services.
ConversionConversion EmoticonEmoticon