Obstacle and overcome to start a new business
credit also edited with PicsArt
Starting a new business for a new person is always critical and challenging. Today, I’ll try to explain and share my knowledge in this post.
First of all, you need capital to start a business, whether it’s small or large. This is the main headache for a new starter. Some people have a rich family background, so they won’t face this capital problem initially, but most people always face this problem at the beginning. All of their wishes go in vain at this stage. At that moment, it can be a way to seek help from family and friends. But most people also face challenges there because of trustworthiness among themselves. Nowadays, it’s too much of a headache to jump into a business newly with an empty hand. If you find someone who can help you, unfortunately, some questions appear in front of you, which will be difficult. Like, what kinds of business do you want to start? Do you have any knowledge or experience in this business? and so on. But I can’t understand why people are asking such types of questions, as he already knows that he is a newcomer in the business. Without doing business, how can a person get knowledge and experience? Here also another barrier is your educational background. Is it necessary? There are so many examples in the world who were completely whiteboards of education or short of educational background and were successful businessmen.
On the other hand, some job holders who have gathered experience throughout their service life and wish to start a business also face the same problem of starting capital. Another headache for them to take a risk for the family expenses, as he was dependent on a regular monthly salary. Here is the outcome: he has the knowledge and experience of business but doesn’t have the money to jump into a business. At this stage, they have little chance to get finance from family or friends. Nowadays, people do not bond with each other, and also no trustworthiness among them. In some cases, you can find some examples in society, but not long-lasting. Everyone tries to be over-smart.
These problems and challenges are not enough to explain or understand to start a new business for a starter. But I think we put this discussion aside the try to execute some steps to start a new business. At the earlier stage, you have to be determined to do business full of self-confidence. No matter what types of struggles or barriers come your way, you have to face them positively. Then you have to choose the business in which you have the most interest. Don’t consider the business based on profit margin. I think you should choose the business which you find interesting and loved one. If possible, try to do a study on it, and gather some information and knowledge on that business. Find out the merits and demerits, advantages or disadvantages, profit, and loss. Better if you can maintain notes or write everything on paper. Seeking some help from a mentor or experienced successful businessman. But most of the time it won’t work properly and can have some chance of getting demoralized.
Credit also edited with PicsArt
This is the first part of this topic and will be continued in my next blogs, Please stay tuned.
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Yes capital & cashflow especially is necessary, but in many fields it is doable to start from next to nothing!
I have done this several times, using knowledge and basic equipment that I own myself, recruiting a partner who shares a vision, do a couple of jobs & then hammer those hard as cases while networking and so on.
It is true that getting on from that initial phase some capital was needed, but that is then also way easier when you have something to show. The cases can even be free or volunteer work, but often that somehow shows, so any paid gig is way better.
Which then adds to whatever capital you can raise based on already having started :-)
Thanks for your comment. I respect your ability and success. I had no intention to demoralise anyone. Yes, everything is possible if you determined.
Oh I know that was not the intention! 🙂
I think many will have to get used to having no conveniences at all when starting anew, and those who had a (too) easy time will find it the hardest to adjust...
Hive is actually great in many ways that are related to this, there are so many all over the world with very little who really work hard to produce good content!
I used to have it all in some ways, for a while I ran a shared studio space, it was essentially my own incubator, where I also lived for basically free the last 2 years, smack in the center of the capital city 🙂
And in the end that too was in some ways an example of what can be done. I started the negotiations on taking it on from the previous person running it right when the GFC crash was taking off. For a while I was a bit nervous about the risk, but that also led to better conditions for the contract.
In the end it all survived, although some of the photographers had to cut their costs a couple of years later. They were established, so it took a while before their customers axed the budgets...
This time around the changes will be far deeper, which also will lead to opportunities of course!
Thanks again for your comment. Your concern about my post is really appretiateable. The experience and observation may vary man to man, but at the end of the day the result is to continue the struggle and make everything fruitful. Enjoy the versatilities of the business.