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Tricks and Tips To Start Your Own Business

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Avatar for Miika
Written by   165
1 month ago

Even though the word business can be used in a number of ways and it does not always refer to as a buying/selling/trading activity, there is a difference between business (buying/selling/trading activity) and offering services. If you work for a company, or even a business organization, you are not doing a business, you are actually doing a job.

Business means you invest your time and effort in something in a hope of generating profits, and something that you can claim as your own. The word something can refer to a lot of things, for example, a shop, a food cart, a blog, a vlog, etc.

Start Building knowledge, skills, expertise, and experience

If you have an interest in starting a business, I think you should first work for a business. There are three major benefits of working in a business enterprise, one, you make money (that you can use to finance your business), and two, you learn (for instance, if you work in the production department, you will learn about the production process, if you work in the marketing department, you will learn about marketing: three, you gain experience (that you can use when you are ready to build your own businesses). If you have read business case studies, you will find that a lot of businesses were built by individuals who had previously worked in someone else's business. You can learn about business from books, from business gurus, business mentors, etc. But you do not gain any experience from these activities. You sure need knowledge, but knowledge shouldn't be theoretical, it should also have practical implications. Volunteering is also a good way to gain experience, volunteering means you work for free just because you want to learn and gain experience. However, you should always volunteer in a related niche, for example, if you are planning to start a shoe business, it will be wise to work for an enterprise that sells shoes or manufactures shoes.

Start Selling Digital Products or Services

Selling physical products there is a lot of work to do. You need to manufacture the product and spend a great deal of time marketing the product. When it eventually gets sold, you will need to package the product and ship it to the buyer, you will incur a lot of additional costs. That's why I am not selling physical products. I am selling digital products and print-on-demand products. When you sell digital products, there are a lot of benefits, first of all, the buyer will download the product once payment is done, you as a seller do not have to do anything. Secondly, you can sell the product multiple times. Likewise, when you sell print-on-demand products, you can sell the same product multiple times (because you create just the product mock-up). You also do not have to bother with creating the actual product.

I don't sell physical products. I am based in Asia and a large number of buyers on most of the ecommerce platforms are based in Europe, Australia, the United States, and Canada. If I sell physical items, I will be spending huge money on shipping, which will ultimately reduce my profit margins. Therefore, I am selling print-on-demand products and digital products.

Selling digital products is better because you have to create a product only once, and you will be selling the same product on and on. For instance, you can sell workbooks. You spend about 20 hours creating the workbook. However, you can sell this workbooks thousands of times. The same is the case with other digital products.

Print-On-Demand: The Easiest Business Model

The best way to start your online business is by starting a print-on-demand business. You do not have to create an actual product, you do not have to package the product and ship it to the buyer. And most importantly, you can sell the same product again and again. However, in order to sell print-on-demand products, you need graphic designing skills. You need to design the product, the design that will appear on the product you will be selling. While Etsy is a good platform to sell print-on-demand products, I think there are better marketplaces, for instance, RedBubble. On Etsy, whatever you are selling, you need to pay 20 cents to list the product, you also need to pay a 6.5 percent commission to Etsy. On redbubble you don't have to pay upfront, you only pay the manufacturing cost and little commission. Etsy is not a print-on-demand marketplace, that's why you need to use printify.

With print-on-demand products, all you need s create a mock-up product, when the listing goes live and someone buys the product, the print-on-demand marketplace fulfills the order, you do not have to bother with printing or manufacturing the product, packaging the product, and shipping the product.

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Comments

Well, the best thing to do how we can start a business is to conduct a survey what does the people want. Through you can find better way on what type of business you want to build

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1 month ago

I have worked under a lot of companies and other enterprises and I try as much as to get closer to those in charge to learn one or a few things from them and to help build myself and my CV and so far I think even though I don't have the capital am having in mine to start my own business, my CV will speak for me and if I can save the amount (my capital) am in need of to start my business then with the experience and all I will go great not to brag too much about it though

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1 month ago

I do love business but having this kind of work would always consider the knowledge and power of negotiating other expert.

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1 month ago

I really like online business, because we are pretty quiet playing cellphones at home, buyers will come to our house, and I have started it at home. This is a very fun thing because it does not make a lot of energy and time.

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1 month ago