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Is making money in business easier than people imagine?
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BelyyTigr Offline

Posts: 355
Joined: Jun 2016
Post: #30
RE: Is making money in business easier than people imagine?
Some good answers in this thread.
There's lots of variations and issues.
I've seen people who wouldn't make £40k a yr in salaried, earn £500k in their own business pretty soon after. I've seen people at the top of the tree start to haemorrage a millions pounds a year. And then people from zero to millions and millions.

Just because someone is self employed, is it really a "business".
Being a self emp taxi driver/courier or whatever is easy. But that doesn't mean you'll get rich or even have things easy.

The market in most countries is very efficient. So the chances are, your skill, your idea can be fulfilled by someone with low costs, in quick time, with their reputation backing them up, and a fat load of cash behind them. Doing something cheaper is NOT a unique selling point for most new companies.

Many businesses fail, esp ones from younger people. Esp ones that leverage investment and staff.

A fair number of "self made men" had a leg up from a rich uncle/inheritance. Or a big scam that was cash laundered. Or pure luck. But I've seen people with few natural talents do really well... and via legit means.

People often underestimate how difficult sales, and "brand building" is for many businesses. With no reputation you usually need more than a phone, email and PO box.

I managed to build a couple of businesses up from scratch. I found 2 things made it harder. 1stly, my naivety and the fact its hard to get REAL startup advice (the duffer who can explain accounts in your business class is NOT a business advisor). And 2ndly, I didn't have lots of capital to kick off.

My advice is find something scaleable, find a source of advice. And do something you enjoy AND something others will benefit from. And don't nec give up your day job til its spitting money out.
10-02-2016 08:11 AM
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RE: Is making money in business easier than people imagine? - BelyyTigr - 10-02-2016 08:11 AM

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