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What do you need to start a business?

Discussion in 'Starting Your Business' started by Vinaya.Ghimire, Mar 15, 2016.

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  1. It is easy to say you want to do business, however, it is really difficult to make the business work for you. As a businessman you need various kinds of skills. For example:
    Management
    Planning
    Marketing
    Decision making
    Risk taking

    As a business man you must be willing to take risk, further more, you must also know how much risk you should take.
     
  2. Nancy

    Nancy Member

    I think you also need a great idea and passion for that idea. And I would say 'businessperson' :D We are not all men here!

    I would also add that you can learn and acquire skills as you go. I would hate to see someone feel like they couldn't start a business because they lack skills! The best way to learn is through real life applications.
     
    CoolSpot likes this.
  3. Excellent point! Starting off in business a lot of the time is intimidating because we compare ourselves to the success of others. We often forget that all the skills the great titans of business learned they had to learn along the way. If you just read the books about a lot of the top business names like Warren Buffet, Steve Jobs, etc. (the usual suspects) you will see the circumstances made them create solutions and develop skills.
     
  4. VirtualGlobalPhone

    VirtualGlobalPhone Moderator Member

    @Vinaya.Ghimire , Business always works in an opposite emotion. You have to make 'difficult' a best friend for things to become eazy. Else you will find every one doing what you are doing...

    Think about it. .....
     
  5. stark_intern

    stark_intern Member

    You need an idea, resources, talent, and luck.
    • Idea - doesn't have to be particularly groundbreaking, but it does have to make a clear difference.
    • Resources - basically money/talent to make the idea happen
    • Luck - raw talent alone gets you far, but it's simply not enough. You can praise Bill Gates, Elon Musk, The Zuck, or whatever industry titan strikes your fancy for their business acumen--but chances are they might not have the same level of success if they had the bad luck of being born in Mogadishu or some other lawless war zone.
     
  6. VirtualGlobalPhone

    VirtualGlobalPhone Moderator Member

    Can we call LUCK as OPPORTUNITY ? just a thought...
     
  7. stark_intern

    stark_intern Member

  8. VirtualGlobalPhone

    VirtualGlobalPhone Moderator Member

    @stark_intern .

    Luck is this 'various opportunity' which sits in this thing called "'n' number Life Trains" going at various speed. Each person depending on the 'hunger for doing' choose the train station and the bogie. Some choose the fastest which off course gives more value then the rest. Which we may call 'He / she had good luck'.

    So 'good luck' or 'being lucky' is the perception others brand it to the result, through the "choices" we make when we get at that point of time during our own 'Life Train Station' in a 'small time' frame.
     
  9. T J Tutor

    T J Tutor Member

    Luck? It's not a true value. Not real and not unreal. It's been said that luck is the result of preparedness meeting opportunity.
     
    Last edited: Jul 19, 2016
    VirtualGlobalPhone likes this.
  10. stark_intern

    stark_intern Member

    Solid point, and I definitely agree with you to a certain point, but I'll have to expand on what TJ Tutor said:

    VirtualGlobalPhone -- correct me if I'm wrong, but the way you phrased your answer implies that there is an element of choice in meeting luck. For what it's worth, I agree with you to some level, yet we must also accept that by it's very capricious nature, luck is still by and large a roll of the dice. Maybe 30% choice and 70% dumb luck.

    Example: you take this class to pick up a new skill, and meet someone who has the capital and wants to start a business with the exact skill set you have.

    The element of choice in this case is the fact you invested in those prior skills that made you prepared for this opportunity. You made a choice on what skill to cultivate in the past, and what skill you wanted to gain in that classroom.

    The capricious element, perhaps, is the sheer dumb luck involved in being in the place where your chosen skillset happened to be in demand: taking that particular class, at that particular college, sitting in that particular chair, and talking to that particular person.

    Basically what I'm saying--if I'm saying anything--is that this part of luck is tantamount to consecutively rolling the right numbers on a dice you had no idea you were even throwing. What do you all think?
     
  11. VirtualGlobalPhone

    VirtualGlobalPhone Moderator Member

    @stark_intern , I want you to consider that "Choice" is not part of the "dice" and re look the whole.

    Simply put 'Choice' is simply accepting what you decided or what you got, on that moment without giving any importance. And 'luck' is a award or praise once gives to the result of what you do with your 'choice'.
     
    T J Tutor likes this.
  12. Ewa

    Ewa Member

    You need to actively take action. When something comes to mind to do with your business - grasp it, note it down, and take an action. One action will lead you to another. You need to act fast when it comes to your own decision making, as your motivation span will be short!
     
  13. BioHack

    BioHack Member

    What do i need for business?

    CAPITAL
     
  14. VirtualGlobalPhone

    VirtualGlobalPhone Moderator Member

    @BioHack ; Capital is just a dust in the pile of requirement to start a business. Many here made so far without CAPITAL.
     

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