Good & Bad of a business, my experience
Good & Bad of a business, my experience
It seems very fascinating to start own business. Everyone needs a stable business.
But no one is aware what does it takes to have a stable business.
Business is not for you
If you are very lazy, business is not for you.
If you don’t love your work, it is not for you
If you need easy money, it is not for you.
If you hate your job, it is not for you.
Too many buyers at once or no buyers
Without enough buyers, your business will not survive longer.
But some time you get too much orders and buyers which is uncontrollable.
You don’t have potential to deliver to all buyers.
And some time you wait whole day and no one is coming.
Too much bargaining
Bargaining is what I hate the most. Some people are expert in bargaining and they will not buy anything from you if you deal in fixed prices.
Low profits margins
Due to low profits sometime you may get what you deserve. Spending whole day and you didn’t receive enough and came home broken.
People who need commissions
Some people came to you and buy something from you. Let suppose they bought something value Rs.10000. But they need invoice of Rs.12000, which is totally terrible for me.
People who fight for small amount like 10 Rupees
One another problem, I faced is people will bargain and fight for very small amounts like Rs.10 and You can’t do anything. You can’t imagine the poverty level.
Backup plan
If you are starting out or spent some years in a business. You need a stable backup plan to survive in this business shit. You can’t survive longer if you don’t have backup. Things are changing and you need to be stable.
Paying Taxes & Other community Charges
You are going to pay taxes if you like or not. But beside taxes, shop keeper union will come to you and demand for money which is totally unacceptable. I have just started out. I can’t feed you baby.
Security Problems
Someone came to your shop and give you fake currency. Or you load the buyer’s vehicle and he/she ran away. Someone stole, break into your shop and took everything from you.
Partners’ problems
You will find tons of people, ready to fund you. They want to invest in your business. But they will not trust you. They need instant returns.
Season in and Season out
Some businesses are dependent on seasons. You can’t sell ice in winter and can’t sell jackets in summer. If you are into something like this, you need proper plan for coming season.
Competitions
Your competitors might be good or bad. They might cooperate with you.
Jealousy factor
There are people who have tons of spare time and want to bring your competitor attention to your business.
They will whisper in his ears and will succeed in believing him that your competitor is going to kill your business.
Too much Rent
If your business is in a rental property, you may pay all your profit in rents. Sometime rents are too much but not affordable.
Unable to find good honest helper
You may not be able to find a good helper. All people need a good job but they are not willing to invest energy 100 percent.
You may find a big group of unemployed workers but are not willing to give you their 100% time and attention.
They need off day for a marriage party or they want to drop their babies to school. They even do hair dress in the working hours.
Good & Bad of a business, my experience
