- Banned
- #41
I was hoping to get some feedback from yoiu guys on what would be the more succesful business plan.
I was thinking of producing a certain product in mass quanities with a hope that the result would be because there is mass quantities people would just natrually buy the product.
My alternative plan was to offer a product in a test manner to see what the market wanted and what people would buy.
Which aaproach do you think will result in a more sustainable business?
From my experiance having a business, which I closed a year later, is that you must have a extremely high profit margin to survive. Furthermore the only companies that are doing well right now are companies that recieve mnoney from government either directly or indirectly. Be it direct subsidation, outright buying your product, requiring the public to buy your product or service, or something along those lines.
Whatever profit you think you need, double it. The cost of labor is extremely high, and you will find out that employees dont want to work, they just want to get paid and steal from you. Oh yea they will complain about everything (hope your in a right to work state).
You should also steer as far away from a business that is regulated by the government as you can. Asian immigrants understand this, thats why they open mechanic shops, window tint shops, radio shops etc. My business was regulation heavy, and would regulation have not required that I spend so much money to stay open I would prolly be open today.
Hope that helps. Oh yea, read a book called 'the art of the start' if you decide what you want to do but need help doing it. It helped me.
Thanks for a GREAT answer...
but so you know.... TM is lying about starting a business....
this is a typical start to one of her hak troll threads.