What should be the objective ofc establishing a business?.

hastral45 · Jun 23, 2023

It amused me when some people are wiling to establish their own businessess as a vresult of bad maltreatment they are experiencing in their places of work. Some because of the kind of lifestyle they dreamed of, while some because ofv the interest to be independent.
None ever talked about providing solutions to problems. And this isv where potential money is. Ofv your business is not able to provide solution to existing problems inb the society there is no way such business could be profitable.

cherry123 · Jun 23, 2023

For me I would want to establish my business for self sustainability and reliance. We don't have to be under someone for life. You should be able to have your own Source

Stardom22 · Jun 23, 2023

hastral45 said:
It amused me when some people are wiling to establish their own businessess as a vresult of bad maltreatment they are experiencing in their places of work. Some because of the kind of lifestyle they dreamed of, while some because ofv the interest to be independent.
None ever talked about providing solutions to problems. And this isv where potential money is. Ofv your business is not able to provide solution to existing problems inb the society there is no way such business could be profitable.

you are very right on that my friend. Establishing a business that is associated in the provision of solutions to the problems that business is likely to thrive for sure.

eldavis · Jun 23, 2023

Before starting a business always make sure you have a goal, passion and as well a mission for the business. Dont just startup your business because you see others doing it or because you do not like where you are working so you want to start up yours.

Springtime · Jun 23, 2023

Most people start a business to make money. To be successful, you need to have knowledge, skills and the passion on the business. Other than making profits, running a business can be a rewarding experience.

Abdul01 · Jun 23, 2023

The main objective of starting up any business is to make money, there could be some other side objective but this is the main objective as a business can't survive without profit,

Etini Willie · Jun 23, 2023

Abdul01 said:
The main objective of starting up any business is to make money, there could be some other side objective but this is the main objective as a business can't survive without profit,

When you approach a business with this mindset, you would be hugely disappointed. If you are looking for money to eat now, pleas go and find a job. Business is all about creating value and that should be the very purpose of business.

Abdul01 · Jun 23, 2023

Etini Willie said:
When you approach a business with this mindset, you would be hugely disappointed. If you are looking for money to eat now, pleas go and find a job. Business is all about creating value and that should be the very purpose of business.

When you do not think about making profit in business then how do you plan to sustain such business, most people running business do it for the sake of profit and that's the truth.

Etini Willie · Jun 24, 2023

Abdul01 said:
When you do not think about making profit in business then how do you plan to sustain such business, most people running business do it for the sake of profit and that's the truth.

That's a wrong mindset to approach business. When profits is your major pursuit, you might even end up not getting the profits. I am not saying you should aim to run a loss but there are certain things that you can prioritize that would bring the profits sustainably. Have you heard of business reputation? Have you heard of Corporate Social responsibility. If you look at these concepts at first, they look foolish because they don't bring profits but they promote value and this value brings profits in the long run.

What should be the objective ofc establishing a business?.

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