Business Fundamentals

[Suba]

The fundamental or basic principle of business is to provide for the needs of other people, business is always in touch with other people, so in principle any business will always be about people, business people need other people to buy and use the goods or services we offer, we also need other people to working on or making a product.

So don't start a business with thoughts or ideas, what business has big profits, what business can make you rich quickly, this is an example of wrong thinking. So start running a business with an idea or thought, what products are useful and needed by many people. What is your opinion.

 

[Abdul01]

Yeah, having the right mindset towards starting a business as you have stated above is an important key to running a successful business, when you know what is needed by the people and you are ready to serve them, then expect profits too because they will be pleased with it and patronize more.

 

[capri]

You have hit the proverbial nail on the head. Any individuaL seeking to build a sustainable business should be driven by the desire to provide the target customers with value, as opposed to merely selling products to these people in exchange for money. Such mindset is bound to enable a businessperson to earn the trsut and loyalty of customers, thus running a sustainable enterprise.

 

[hastral45]

You have hit the proverbial nail on the head. Any individuaL seeking to build a sustainable business should be driven by the desire to provide the target customers with value, as opposed to merely selling products to these people in exchange for money. Such mindset is bound to enable a businessperson to earn the trsut and loyalty of customers, thus running a sustainable enterprise.

That is the primary objective of business making. Business owner must determine to use his business to provide solution to the problems in the society. That is why any business about to be set up must have quality utility values. But contrarily, the objective of most investors that wanted to establish businesses is how to make money and improve their financial status.

 

[Suba]

That is the primary objective of business making. Business owner must determine to use his business to provide solution to the problems in the society. That is why any business about to be set up must have quality utility values. But contrarily, the objective of most investors that wanted to establish businesses is how to make money and improve their financial status.

If a businessman wants to establish a business just to make big money and wants to get rich quickly, then he will generally do whatever it takes to get big profits, such as in cosmetic products mixing harmful substances, even though in the short term it looks good on the skin but in the long term can cause skin cancer.

 

[astutimeliana723]

That's right I agree with you. Running a business with the thought of getting rich quick is wrong thinking, because getting to the pinnacle of business success requires time and process and nothing is instant. If you run a business and think about getting rich quickly, it can make you give up easily if the results don't match your expectations and you keep on changing businesses.

 

[Niyi Briggs]

I always tell people to go into business with the mindset of service and helping the economy grow. That is why I always say that if food is what you desire, get a job and don't do business. It should be beyond just having enough to eat.

 

[astutimeliana723]

Doing business can indeed produce more than just food, but getting money from a business requires a process that is not easy. Profits and losses often occur in every step of the process to achieve success.

 

[Shavkat]

It is not only in business, but also happens to other things to be done in this world. Everything starts from the bottom as part of the basic foundation of being successful in all fields that people want to pursue.

 

[eldavis]

Well said, most people today are simply influence by what they see, meaning once they see someone else succeed in a particular business or investment, they rush into it without knowing how the business really works.

 

[flower]

Understanding the fundamentals of business is very critical and it's one of the things that you must put into consideration before you jump on any kind of business . This is what will make you decent amount of money.

 

[IB D]

Well said, most people today are simply influence by what they see, meaning once they see someone else succeed in a particular business or investment, they rush into it without knowing how the business really works.

That is why you would see a business that one did and was making money, in a matter of days, you would see so many people opening the same kind of business. All in the pursuit of money. And that is why they fail. It is because there is no genuine passion to offer value.

 

[astutimeliana723]

Well said, most people today are simply influence by what they see, meaning once they see someone else succeed in a particular business or investment, they rush into it without knowing how the business really works.

That's right I agree with you. It also happens a lot here. As a result, those who imitate experience many failures and the business they build does not last long. Because he does not understand the fundamental foundation of the business he is build.

 

[IB D]

The fundamental principle of business is to always chase value. Make sure you seek to offer good value and in a matter of time, the money would come. Value before profits.

 

[astutimeliana723]

The fundamental principle of business is to always chase value. Make sure you seek to offer good value and in a matter of time, the money would come. Value before profits.

That's right I agree with you. Most people are too chasing high profits to forget the quality of the product. Even though product quality is very important to maintain so that the business continues to run and develop for a long time.

 

[IB D]

That's why you would see some people and you want to patronize them, they would refuse to render services to you until they get payment. They are too money conscious.

That's right I agree with you. Most people are too chasing high profits to forget the quality of the product. Even though product quality is very important to maintain so that the business continues to run and develop for a long time.

 

[astutimeliana723]

That's why you would see some people and you want to patronize them, they would refuse to render services to you until they get payment. They are too money conscious.

That's right I agree with you. Indeed there are business people like that, they ask for payment in advance before providing services. But all depends on the agreement. There are those who ask for a down payment as a sign of completion and provide payment when the goods are handed over.

 

[IB D]

That's right I agree with you. Indeed there are business people like that, they ask for payment in advance before providing services. But all depends on the agreement. There are those who ask for a down payment as a sign of completion and provide payment when the goods are handed over.

That is for goods. As an upcoming service provider like tailoring, singing or any other service, you are not supposed to be all about the money. I am not saying you should render free services either. Just be sure that you are offering value and pushing yourself as much as possible.

 

[astutimeliana723]

That is for goods. As an upcoming service provider like tailoring, singing or any other service, you are not supposed to be all about the money. I am not saying you should render free services either. Just be sure that you are offering value and pushing yourself as much as possible.

That's right I agree with you. My brother has a profession as a massage therapist, he didn't ask for money from the start. He provides the best possible service and at the end of the transaction he doesn't charge, so clients will give proper money according to their ability and sincerity. In fact, he often gets more money than he deserves.

 

[Bisolami]

Yeah, having the right mindset towards starting a business as you have stated above is an important key to running a successful business, when you know what is needed by the people and you are ready to serve them, then expect profits too because they will be pleased with it and patronize more.

You just have to be optimistic. You need to have the right mindset for the business that it will go on well. Whatever you think about your business is how far the business will go