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    Sean999's Avatar
    Sean999 Posts: 117, Reputation: 1
    Junior Member
     
    #1

    Aug 29, 2015, 04:01 AM
    Starting a new business
    I am now doing business (photo studio) with my friend, best friend. I left my jobs from tour company do this business. One of my cousin also want to start business. He have a small room near downtown. The capital he can use is about $5000. So what kind of business should he does? Because if he start, I also have to help him. He interested in taking the advantage of modern technologies like Facebook. The main reason that he have difficult to find the kind of business is that because of economic and political factors.( I don't mean war, I mean something like unstable currency.) Do you think that is there some kind of business which can stand at every kind of situation?
    smoothy's Avatar
    smoothy Posts: 25,495, Reputation: 2853
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    #2

    Aug 29, 2015, 04:25 AM
    There is no business that can stand every kind of situation.

    There is also no business that can stand a business owner making the wrong decisions and choices for very long.

    But there are certain businesses that have a better chance in certain areas than others... no matter where you are.
    duaaaa's Avatar
    duaaaa Posts: 20, Reputation: 3
    New Member
     
    #3

    Aug 29, 2015, 07:05 AM
    I don't really get your question But what I get that you need to get useful idea for business.Do something uncommon in your city.
    Sean999's Avatar
    Sean999 Posts: 117, Reputation: 1
    Junior Member
     
    #4

    Aug 29, 2015, 08:05 PM
    Quote Originally Posted by smoothy View Post
    There is no business that can stand every kind of situation.

    There is also no business that can stand a business owner making the wrong decisions and choices for very long.

    But there are certain businesses that have a better chance in certain areas than others... no matter where you are.
    Can you tell me your ideas of certain businesses examples? If you are my cousin, what would you choose? Thank you
    smoothy's Avatar
    smoothy Posts: 25,495, Reputation: 2853
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    #5

    Aug 29, 2015, 08:32 PM
    Actually... those will vary city to city... based on how large the market is for any service or product. Smaller towns generally don't have enough of a customer base to support a business... and even in a large city if there are too many people offering the same thing... you have to stand out above the rest... or prices get driven down so far its difficult to make much of a profit.

    So you see... any specific answer requires someone who really knows the market in any specific place.

    Whatever you chose must be something you have a good knowledge of, and preferably a VERY good knowledge of.

    If its something you know little or nothing about...your business would likely fail before you learned enough to be good much less great at it.
    Sean999's Avatar
    Sean999 Posts: 117, Reputation: 1
    Junior Member
     
    #6

    Aug 29, 2015, 11:20 PM
    Quote Originally Posted by smoothy View Post
    Actually... those will vary city to city... based on how large the market is for any service or product. Smaller towns generally don't have enough of a customer base to support a business... and even in a large city if there are too many people offering the same thing... you have to stand out above the rest... or prices get driven down so far its difficult to make much of a profit.

    So you see... any specific answer requires someone who really knows the market in any specific place.

    Whatever you chose must be something you have a good knowledge of, and preferably a VERY good knowledge of.

    If its something you know little or nothing about...your business would likely fail before you learned enough to be good much less great at it.

    I got it. Thank you.
    joypulv's Avatar
    joypulv Posts: 21,593, Reputation: 2941
    current pert
     
    #7

    Aug 30, 2015, 01:59 AM
    Starting a business online doesn't need a commercial space to rent. He can work out of his home. The downside is that the whole world is doing the same thing. Combining local needs with the internet is the way to go, and Facebook can be very good for that. Sell a product or service, and start small, getting friends and family to 'follow' your business name and to 'like' your posts. He can figure out all this on his own. Truthfully, anyone who needs his cousin to come up with ideas for him is going to fail. It takes drive and eagerness and hard work to run any business.
    excon's Avatar
    excon Posts: 21,482, Reputation: 2992
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    #8

    Aug 30, 2015, 06:46 AM
    Hello S:

    Every time I've been in business, it WASN'T a business I simply picked.. I did what I was GOOD at. Sometimes I wish I was good at something else.. Sometimes I also wish I had taller parents so I could play in the NBA.

    excon

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