Want to Be Entrepreneurs? Try This Method
If you are tired of being employees and preparing to be a businessman, then there is some advice from the magazine “Nation’s Business” which apparently needs to be listened to.
First, plan your salary and expenses for the next one to two years, then raise your estimate of about 50 percent.
Secondly, it is important to sell information – especially about your expertise – rather than a wide range of products. The cost of selling information is fairly inexpensive and more profitable. While products require tangible assets such as warehouses and distribution systems are usually quite expensive.
Third, start with a small amount of money and try to make money fast. Go to a place that you believe consumers will pay whatever you are selling.
Fourth, choose partners carefully. Make sure they are in line with your expertise, and no attitude or their background that could ruin your business.
Fifth, talk to other successful entrepreneurs, both inside and outside your field. Ask the five most important things they want to do differently.