A lot of people have been conditioned to think that they need a substantial amount of money to start a business. One of the most popular ways to get this is to secure a loan, which can either come from your parents, a bank, or other institutions. I’ve always been wary of using other people’s [...]
Last time we talked about some marketing aspects of selling products versus selling services. Now let’s look at the nitty-gritty of the business side of things.
1) Capital. Products are more capital-intensive, services have less risk. Since you need to make something before you actually sell them, products generally need more capital to get [...]
Early on in planning your new business, one of the things you have to decide on is whether to offer products or services. The answer to this will depend on a wide range of factors, all of which you should consider carefully. Before you can evaluate which one is better for you, first you have [...]
With all the products flooding every market, it’s easy to get lost in the crowd. That’s why in order to get noticed, you should pick your battles carefully. Focusing on a niche market will also give you a better sense of purpose with your business and, consequently, a definite direction to take. Finding a niche [...]
I don’t know about you, but whenever I see a sign that says, “FREE _______!!!” I immediately raise my eyebrow and take a good look at the fine print - there’s almost always a catch. The same thought crosses my mind when I read ads in big bold letters, promising business opportunities with zero capital. [...]
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