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What would be your advice to aspiring entrepreneurs??

Like me.. still don't know what kind of business to start... but ehe...🤣🤣🤣, need to think a lot I guess..
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People often don't have an actual business plan...so you might want to start looking at income & marketing data.

Identify where the income is. Do you want to sell something to a lot of people and make a small/moderate amount off of each? Or do you want to sell something expensive to those better off, and have fewer, more lucrative sales?

Identify what sorts of things people are willing to spend money on (particularly in an economic downturn). This is sometimes based upon whether or not you can get ppl to view your product or service as a monthly expense; many products have tried to become an ongoing, monthly expense (which helps provide ongoing income to you), and makes more like a utility, etc., expense.

DO USE A LAWYER TO INCORPORATE AND GET YOUR CONTRACT FORMS RIGHT.
@SomeMichGuy Great Advise. 👍
JohnnySpot · 56-60, M
Invest in medium risk Roth IRA mutual fund
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JohnnySpot · 56-60, M
@swirlie the market has always recovered to make even higher gains.
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Viper · M
Buy my book or YouTube's video book if you want to know my secrets
skymint · 31-35, F
@Viper youuuuuu!!!!!!!😏😏😏
Viper · M
@skymint yupppppp!!!!!!!😏😏😏
DomMan67 · 56-60, M
I think besides doing something you truly have a passion for it is also important to never stop trying. There will be a lot of difficult times and many people quit when things get hard. What separates those that make it and those that don't is the people that make it never stop trying.
skymint · 31-35, F
@DomMan67 💙
decide your concept, make standard operational prochedure, prepare your supply chain and make marketing network
Treat any new start up business like your are at a casino gambling, don’t invest any money you can’t part losing.
Tonydang · M
I wouldn’t do anything right now wait till the world resets itself
skymint · 31-35, F
@Tonydang ok, what kind of world resetting you are talking about?
Tonydang · M
@skymint I think we’re in for a little hard times good chance of a world recession just wait till that passes before considering anything
JohnnySpot · 56-60, M
@Tonydang "He who hesitates has lost."
SW-User
What do you enjoy doing? Maybe one of your hobbies could be a great business venture
Whyme · 46-50, M
Pick somthing you love , somthing you would do for free because you are going to for a bit then dig in throw your all into it and refuse to fail .
skymint · 31-35, F
@Whyme 💙
Do something you love, not because of the money it will bring you.
sodaa ·
just do it 🥴
skymint · 31-35, F
@TheOneyouwerewarnedabout FREEEDOOOOMMMMM
ViciDraco · 41-45, M
Think about why you don't want to work for someone else. Remember all of those thoughts and feelings when you ask for someone else to work for you.
skymint · 31-35, F
@ViciDraco 😮 this is something to consider, yes....I'll keep that in mind.
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SW-User
Do something that you're passionate about and something that you know or have a natural flair for. Before you start spending any money, do your research. Know the market before you jump into it.
skymint · 31-35, F
@SW-User 💙
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skymint · 31-35, F
@SW-User I did too many times yesterday ha!!!
SpaceJesus · 41-45
I used to have a pet sitting business that was highly successful. If you like working with animals, something like that would be perfect
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skymint · 31-35, F
@swirlie 💙 I have learned too many thing fro you and to others here, I screenshot your messages, and later will make notes about it.
Thank you.
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JohnnySpot · 56-60, M
@swirlie your advice also applies to why now is a great time to invest in long term mutual funds.

 
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