| json_metadata | "{"app":"musing/1.1","appTags":["life","business"],"appCategory":"life","appTitle":"As a beginner, what do I need to consider before I start my own business?","appBody":"<p>Expect that you would lose money in the beginning. You entered into business thinking you would profit, that's understandable but until you recover your initial capital from investment, you're in business recovering losses. Expect that small business to be small until you do hands on work on it. Until you can micromanage work and not be on the lead when it comes to the hands on part, you're not really the captain of the ship. You're the worker that when sick, nothing else will move in the business until you come back. That's the reality of running small businesses. </p>\n<p>Business partners may sound like a good idea but a duo or multiple people having a say on the direction of a business may spell trouble when trying to get things done. There's a blame game and there's accountability to look forward to. I suggest running it alone and hire people you trust that partner up. Only ask for executive advises from people into the same industry. You can expect a lot of business advises from veterans who may or may not have been successful at their own business. Be careful when choosing investors, some may invest but want a say on where you should go, not cool. </p>\n<p>Start building a consistent reputation when it flies. You may worry about advertising and marketing during the initial stages but most business fail because they considered this first. Focus on the quality of your product or service first and let word of mouth work its way initially. When you get consistent results on a small scale, increase the bar and start doing some marketing in a slow and steady manner. Never invest in marketing big during the early game. People can get hyped up and be disappointed and there's hard recovery when that happens. </p>\n<p>What's business are you planning?</p>","appDepth":2,"appParentPermlink":"f3z5l5wsq","appParentAuthor":"funtraveller","musingAppId":"aU2p3C3a8N","musingAppVersion":"1.1","musingPostType":"answer"}" |
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