- Always provide value and service to those who may be your customers, even if they are not currently. When they do need your product, you want them to think of you first.
- With the advent of the internet, online businesses are probably the easiest way to start and very much less expensive in terms of start-up cost than an offline counterpart.
- Keep learning, and be adaptable to change. Find buddies, mentors, local business-related organizations, Internet forums, and wikis to discuss the daily details of running a small business. It’s much easier for everyone to perform their core businesses well and prosper when they don’t waste time and energy “reinventing the wheel” on housekeeping.
- A franchise is a great idea although the start-up capital is way too high for most people.
- Most direct selling companies have low start up capital compared to a traditional brick and mortar business. You can also break even rather quickly compared to the traditional business.
- You can also consider trading on eBay or Flipkart, Snapdeal.
- It is ok to start small with one or two products and then add more and more great ideas as you go!
- Don’t be afraid to experiment with prices. You should determine the minimum price for your product or service to break even, but experiment with low-price or premium-price variations.
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