no roast here its a perfect website.
no roast here its a perfect website.
I wouldn’t afraid of start something that others say its a bad idea. Usually this is how good ideas born.
You are in one of the most perfect situation. Young, No experience but already have feelings to build business.
What I would do if I were you is I would spend a few days with my thoughts to find the perfect business idea that I would really love to do. Lets say ecommerce. If I have the idea I would start to work out a plan from the first step until the very last. What I want to sell, where I want to sell it, how my website would look like, who are my competitors, who are my potential customers, how can I advertise, how can buy items that I want to sell and what is the journey of this item etc. there will be a lots of question that you need to find answer.
While Im working out my business plan (Probably takes months to fully finish it) I would try to find a job where I can see all of these in practice. So I would look for job at an e commerce business and I would also write a list what are my goals to work there (what I want to learn) and I would try to be friendly with every department so I can ask questions about their jobs. The smaller the business the closer the people to eachother. Ohh and I wouldn’t care about the payment I dont want to spend my entire life there I just want a 2-3 years of experience to start my own business.
If you stay consistent with your strategy and your goal stays clear you will be already ahead of 90% of the entrepreneurs when you start your business.
Another thing I would take into consideration is to start a “practice” business while I have a full time job. It will be awful and probably cringe aswell but at least good for building experience. Experiment with a lots of thing and when you feel ready you can restart everything with the new brand.
This is smart if he cares about the money but to me it seems he is more like emotionally attached to his business. 15% is very low to be able to call impactful changes so he needs to watch how they will change his own child into something very different either in a good or a bad way. In worst case they hire all his good employees and shut down the business.
most of the time selling knowledge doesnt require money
Things like 3d printing, bitcoin mining, use it as a warehouse to buy and sell things from alibaba, all cross my mind but I have no experience with anything like that. So, I’m hoping for some guidance from some smart folks. If you had 2800sqft and 100k to invest, what business would you start?
You need experience or someone who has experience. E.g. You need a bulletproof contract form if you want to rent it out or else the renter can blow up the whole house and you will be the responsible.
I dont know how strict are the rules there but e.g. in europe you cant do anything anywhere so if you want to work with food you need to prepare the place according to that if you want to work with chemicals you need specific type of floor to prevent leak etc. If you find what you would like check if you have rules like these before you start your business.
The most simple is to use it as a base or office like if you would start to flip things on amazon you have place to buy big bulks for cheap and sell them in small parts for profit. Or you can store something that is cheap in one season but can go really expensive in other season like AC.
I was in your position once and it didnt end well. Im nobody to you to give advice but you should consider this one for.the sake of your marrige: Define VERY clear roles in the company who responsible for what and never make decision for something that is not your task.
About pricing while many people say its always harder to increase prices than decrease I cant agree. If you position your product too high and you cant sell your product you cant go cheaper because people will release that. “Hahh look at this loser He needed to lower his price He shouldn’t be that greedy in the first place”
I feel like if you immediately aim for higher than your competitor you basicly gambling.
Even Tesla sold their car super cheap for the value it has.
Huawei and Xiaomi was a super cheap phone until their brand grew up.
I would do what you do but if your wifes opinion is this strong you may need to give her a chance and if it works then yay if not then rebrand your coffee and change tactics.
In this case think as a husband and maybe as a father not as a business man.
Yes.