These days people tend to go for businesses that they consider as lucrative. For most they feel if others are making money from it then they can also do same. While this is true to some extent, it is more than that. To be successful in a business depends on how much effort you put in and your determination to succeed. Which means working hwrd matters.
Because a business is lucrative does not mean everyone we succeed
- Thread starter eldavis
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In my view main thing is your interest, if you are not interested in any thing and you start business then soon you may close it. Like I don't have interest in chicken business and if I'll start it then I won't be able to get success in it
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- #5
Well said, I have seen a lot of persons rush into a particular business simply cause they have done their research and they have seen a lot of people become successful. But running a business is way more than that.
A business being lucrative does not directly mean that someone should be successful there different require for a business to be lucrative and being successful to be successful in business you just need to have the skills and be dedicated to it
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- #7
Hmmm true, which means before starting any business, make sure you understand what the business is actually about and all that you need to know about the business before joining.
It's not just about jumping on the bandwagon of a popular business trend, it's about putting in the hard work and dedication to make your own mark in the industry. Success doesn't come easy, and it certainly doesn't come overnight.
Going into a business cause others are into it and making money from it is one way to get easily frustrated when it looks like you aren't doing something right , plus without that driving passion your business is gonna be stuck in one spot when difficulties arises.
You're right! Their business, which is akin to yours, is successful, but this does not guarantee that you will be as well. It happened to my aunt several years ago. She started a franchise business because she assumed it would be as successful as the others, but it failed since it was something the location didn't need.
It's important to thoroughly research and understand the market demand and needs of the specific location before starting a business. Learning from your aunt's experience can help us avoid making similar mistakes and increase our chances of success.
Its true not doubt because a business is lucrative does not mean that everyone will succeed that is why you will need to carryout research regards the business field which you want to venture into and at the same time you need better understanding of your business to aid you manage it well
Yes, each entrepreneur must have their own unique strategy and approach to growing their business, and what works for one may not work for another. One needs to continuously adapt and innovate in order to stay competitive and achieve long-term success.
In some countries the success depends on how well connected the person is. In the internet sector, the friends, relatives and associates of top government employees, politicians are faking business ownership for more than 14 years.
@timewo 𝐈𝐧 𝐬𝐨𝐦𝐞 𝐜𝐨𝐮𝐧𝐭𝐫𝐢𝐞𝐬 𝐭𝐡𝐞 𝐬𝐮𝐜𝐜𝐞𝐬𝐬 𝐝𝐞𝐩𝐞𝐧𝐝𝐬 𝐨𝐧 𝐡𝐨𝐰 𝐰𝐞𝐥𝐥 𝐜𝐨𝐧𝐧𝐞𝐜𝐭𝐞𝐝 𝐭𝐡𝐞 𝐩𝐞𝐫𝐬𝐨𝐧 𝐢𝐬. 𝐈𝐧 𝐭𝐡𝐞 𝐢𝐧𝐭𝐞𝐫𝐧𝐞𝐭 𝐬𝐞𝐜𝐭𝐨𝐫, 𝐭𝐡𝐞 𝐟𝐫𝐢𝐞𝐧𝐝𝐬, 𝐫𝐞𝐥𝐚𝐭𝐢𝐯𝐞𝐬 𝐚𝐧𝐝 𝐚𝐬𝐬𝐨𝐜𝐢𝐚𝐭𝐞𝐬 𝐨𝐟 𝐭𝐨𝐩 𝐠𝐨𝐯𝐞𝐫𝐧𝐦𝐞𝐧𝐭 𝐞𝐦𝐩𝐥𝐨𝐲𝐞𝐞𝐬, 𝐩𝐨𝐥𝐢𝐭𝐢𝐜𝐢𝐚𝐧𝐬 𝐚𝐫𝐞 𝐟𝐚𝐤𝐢𝐧𝐠 𝐛𝐮𝐬𝐢𝐧𝐞𝐬𝐬 𝐨𝐰𝐧𝐞𝐫𝐬𝐡𝐢𝐩 𝐟𝐨𝐫 𝐦𝐨𝐫𝐞 𝐭𝐡𝐚𝐧 𝟏𝟒 𝐲𝐞𝐚𝐫𝐬.
We all know the reality of nepotism and cronyism in determining business success in some countries. business success in some countries. Businesses should be built on merit and hard work rather than connections.
We all know the reality of nepotism and cronyism in determining business success in some countries. business success in some countries. Businesses should be built on merit and hard work rather than connections.
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For me the best business ever, is that one that the entrepreneur starts for the aim at solving the problems of the people within the business location. With that being said it's easier for reaching the success for that business.
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- #19
Very true, there are lots of people out there with different problems, and they are willing to pay any amount as long as they get the solution to their problems.
