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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SomeMichGuy · M
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.
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.
PhoenixPhail · M
@SomeMichGuy Great Advise. 👍