Is it easy to make a business or is it hard for you? Why and why not?
The following is my answer to this QUORA question. Quora is a place to gain and share knowledge. It’s a platform to ask questions and connect with people who contribute unique insights and quality answers.
It’s easier now than ever before to make a business. In fact, I can create a business in minutes because of all the support from internet marketplaces.
Here are the reasons: Is it easy to make a business or is it hard for you?
- Millions of people view the e-commerce platforms like eBay, Amazon, Walmart, Facebook, and Etsy to buy products online.
- Just list any products you want to sell on these platforms. Can be new or used products.
- Used products sell maybe 3 X more than new. So it’s easy to just list used products. Don’t need to sell new anymore.
- You can sell wholesale or retail online. So if you want to have multiple eBay stores, which I have, then you can make one wholesale the other retail.
- You can dropship products from hundreds of wholesalers and or manufacturers. You don’t need to buy and sell anything. Just list products from Costco and or Sams Club and direct ship to your buyers.
You Don’t need cash: Is it easy to make a business or is it hard for you?
- You don’t need cash just products to sell. Can be a service too. Products can be listed from consignments. Many companies want space so they will give you their products on consignment to sell. Start small with family and friends and consign their stuff.
- A service business is easy too. Just list your service business on Upwork or Fiverr. There are ten other portals you can list your service on too.
- You can begin an investment company with $500 using crowdfunding platforms for real estate investing like Fundrise and Crowdstreet. There are many to choose from too like Farmfundr for farming Real Estate investing.
- You can write books and post blogs. These are income producers too. I do YouTube videos, write books and blogs. You can then promote on Adsense and make money from that. Takes a bit longer but it’s now easy to write content and publish e-books through Amazon. WordPress is my choice for blogging.
- Home-based business. All my businesses are run from my home. I have an office and converted garage for storage. If I need storage space. It has 20 cabinets for storing products. So the need for office space is over. I worked from a one-bedroom apartment years ago at my kitchen table and made $100,000 a month income.
Outsource almost everything: Is it easy to make a business or is it hard for you?
- It’s easier today because I outsource everything from webpage design, SEO (search engine optimizer) work, video editing, accounting, bookkeeping, and book editing to name a few. I use Fivrre and Upwork to find the best people, some have been with me now for almost a year.
- Warehouse space is easy too. I use warehouse space if my purchases include several pallets of products or truckload. The product is shipped to my warehouse and then inventoried and broken down. I can even ship to Amazon’s FBA program where they do all the fulfillment. I can just ship it to them and list the products for sale. They do all the work. I just buy and list products. All from home.
- My banking is done online. Loans are obtained online from home. So if I need capital to expand I use Paypal or any one of my big banks. No longer have to go to the location and sit to apply. I get PayPal money in less than 10 seconds. No kidding, 10 seconds.
- Here’s a list of online teaching platforms if you want to teach people what you know.
eLearning Platforms To Use For Online Courses: Is it easy to make a business or is it hard for you?
- Udemy. Udemy firmly believes in disrupting and democratizing the educational ecosystem by allowing anyone and everyone to learn from its pool of more than 20000 Subject Matter Experts. …
- Teachable. …
- WizIQ. …
- Ruzuku. …
- Education. …
- LearnWorlds. …
- Thinkific. …
- Academy Of Mine.
With all these things that make it easier to make a business the same day, what is the why not the easier side of the equation? The simple answer is if it’s easier there is usually more competition. The more competition you have the less profit you’ll make.
So if the dropshipping product is easy to start from home, then many people will start one. But the 80/20 rule apply no matter what business you’re in.
80/20 Rule: Is it easy to make a business or is it hard for you?
The 80-20 rule, also known as the Pareto Principle, is an aphorism that asserts that 80% of outcomes (or outputs) result from 20% of all causes (or inputs) for any given event. In business, a goal of the 80-20 rule is to identify inputs that are potentially the most productive and make them the priority.
In the above rule, you can note that 80% of the people do not make money in their business. The money income comes from the 20% that do. I say it’s less than 5%. Therefore your competition comes from less than 5% of the people who compete against you in the marketplace.
But that shouldn’t be a deterrent. The same hard work and focus apply to starting a profitable business. That never changes no matter how easy it is to make a business. In today’s world, it is very easy to make a business. And make money at it too.
Mike Addis Mega Shop – Maddiscash