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General discussion

Need a piece of advice here

May 27, 2015 12:38PM PDT

Hey there guys.
Came here for a piece of advice for a starter here. So I've been a person who wanted to start his own business for, I'd say, last 5-7 years. Every now and then I will come up with a certain idea (which seems to be awesome at start) but then when I'm getting more into it, I either realize that I will need a big investment (which I don't have) or the market has competitors with exactly same ideas, but they are operating already, and no new ideas of how I can enhance product/service itself to be better then competitors. I would really love to get some advice from people who started their own business from the bottom with little or no investment at all, and actually tips of how you can do that, because besides additional income I'm looking just to have some sort of a project made and started by myself and see it growing - admiring it. At some point i realize that the best way would probably be identifying issue/problem, and provide solution to it by offering services/products to customer, thus making money, but again the major block I face every time is the fact that there are already operating competitors in that niche, and I just have a feeling that there is no point in entering because "why would customer choose your new, untested service/product instead of a trusted one".
Any advice would be appreciated.

Discussion is locked

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Let's say this is a coffee shop.
May 27, 2015 10:16PM PDT

I've seen coffee shops do well on the other side of the street of a Starbucks. Just because there are folk in the biz, they seem to do fine.
Bob

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Good Day!
Jun 2, 2015 12:07PM PDT

You must have something to start with on how to manage your business, create a business plan. Since, you don't have money/capital yet try to get a loan from a bank. If you can't get a loan from the bank, then try getting a loan from your friends. Try Working hard on whatever the plan, go over it again and again until you minimize all the flaws.

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Hi
Jun 23, 2015 7:43AM PDT

I know where are you coming from because I am feeling the same way too. Every time I have new ideas, discuss about it and finalize it at the end I ask myself "why would customer choose your new, untested service/product instead of a trusted one".

Then my friend told me to think positive. If you will compete to an ice cream vendor, you need to make sure that you will have a different approach. Customer need something that they will talk about after they have their first taste and that is something that you need to achieve.

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you could check the experts
Jul 8, 2015 10:54AM PDT
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Business funding
Jul 14, 2015 4:14AM PDT

You must have some idea whether to start a business of restaurant shop, automotive business or something at your niche. Get funding at a business startup can go wrong. So first start it at your own. Get to know business from its inner soul, then to have some business funding.
The best thing you can do is to put a query or send enquiry at fundingnation.us They provide funding for many of the businesses.

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You!
Sep 6, 2015 11:17AM PDT

This is a great question. Thinking about it a different way, someone might say, "Why become an insurance agent? There are a thousand out there, why would anyone choose me?"

And yet, many people get into the insurance business every day. A better question to ask might be "What makes my business stand out?"

I actually asked this of an insurance agent just last week, and he said it was education. That he didn't care to just sell insurance, that he would also help his clients understand what they are buying.

This point is, somewhere inside you is something that no one else can provide. A unique perspective or way of serving your customer. Be sure you know what that is. And when you start your business, make sure that the entire earth know what that is.

Good luck with your new business! -RJ

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Note this one
Sep 7, 2015 2:35AM PDT