I've been asked on this question so many times on this. Just want to get a feel what kind of businesses will evolve in the near future.
Just for general knowledge for those that do not know.
In any time or period there are business that thrives and there are others that will fall whether recession or not.
Example.
So in recession -> Companies like Second Hand Car Business or Car Rental Business. Due to costs cutting people are selling their new cars away and getting old card or rent cars from time to time.
In good times -> The Brand new Car business will strive.
So Opportunity is every where and at anytime.. Business people also need to be adaptable.
My question to you is? What kind of Business should you start right now?
I've seen your postings on project senso.
In my case definitely another web based
business due to low overheads.
Right now we have a small business selling collectibles / antiques online and I'm thinking of new ways to gain more website exposure.
I have a couple of business ideas...but need to put them on the back burner for the time being..
'takut nanti business terbengkalai' due to lack of time to focus on all of them.
Before you start on thinking about the type of business, I think you should think about what interest you.
If you are someone who likes cars, you sell cars. If you like good and thrifts, you go on and open a second-hand shop.
A business is something you will spend time to build, grow and continuously evolve. And if it wasn't even something that you are genuinely interested in, you will get tired and eventually throw the towel in when the going gets tough.
For me, I like fashion and clothes that appeal to Muslimahs and yet complying with modesty. And even though the boutique I've set up online is small, I am happy because that is what I LIKE doing.
Like a phrase that I always keep in mind, "Choose to do something that you like and you will never work a day in your life!"
So, answer this, WHAT business (or rather, products) are you interested in?
Besides being passionate about the products you're selling, it is a good idea to look for products that can fill a 'gap in the market' or serve a niche.
Well from my conversations with Multi Millionaires there are also this group of people who just did it. Eventually they found their passion.
Some people even find opening and closing business or just running a business a PASSION. Seriously, they live, eat, breathe business.
An example. My attendance at Smart Seminar by Stuart Tan last November, there was this two couple who started selling Control Cars in the Internet. Intially they were skeptical, but slowly they began to learn to love the product and love to sell it.
So it doesn't mean that you have to love to do it from the start cos sometimes, doing it with passion alone will kill your business because market demand is not there. Basic economics. Hence you do need to be creative.
My point is passion is up to the individual itself. Hence however some people find passion in other areas too.
In my case, what really motivates me is the dream of quitting my day job or work part-time.
As the saying goes; Necessity is the mother of invention, if you want something badly enough, you will try to make it happen.
Our online business is still small, fairly successful, in the sense that we ship worldwide esp. America.
Can't remember how we started, we just do it and hope for the best. Tidak buat market research, hentam aja.
We did try selling another type of collectible at first, but that did not work.
The amount of money you have will depend on type of business you will lay your hand upon because at times business normally fall when there is no enough money to run the business.So if the money with you is not up to 1.5million upward i will advise you not to lay your hand upon motor car business insted of that i will rather advise you to try motor cycle business and with the blessing of almighty GOD your businees will inprove soon.
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