From a colleague In Business – An Opportunity Lies In Doing What Others Do Not Do! In business, the best way of making money is to find an opportunity in the market doing what others won’t do or are not prepared to do. In the last 10 years a big business boom story in Scotland has been the hand car washes where they clean your car in a conveyor belt system. They tend to have 3 or 4 bays and each bay can hold 3 or 4 cars. I go to the one in Dundee that opened 3 years ago. One guy will soap your car another guy will use a large sponge to scrub the soap into the ingrained dirt and finally somebody else spray it all off. Much better than an automated car wash which might scratch your car? After you have had your car washed, why not go to the interior cleaning bays where they hand clean the inside whilst you wait in the waiting area sipping tea and catching up on the daily news. Once you have an idea, focus on it. Don’t let other people distract you and move you of tangent. You will find out that what was just a glimmer of your imagination, starts to grow arms and legs and over time becomes a lot more solid. After all – any idea worth its salt has to be given three years at least before you see the full benefits! If you must copy a great new business idea then make sure that you do it better, much better! Think – don’t react to a simple idea and just copy it. Try and improve on it by a wide margin otherwise you will have zero USP (unique selling point). Spend quality time evaluating how you could improve on it. This is where some good intelligent friends really come in handy. If you are still struggling for ideas, why not look at a franchise opportunity. Don’t look at the old established franchises but instead check out the new ones that are emerging. Why do I say this? If you get in at the ground floor of an opportunity then it becomes easier to expand into other territories near you. If you go for the more established brands then territories are harder to come by. You can also pick up newer franchises for a lot lower initial outlay then an established brand. Make sure you do your homework first, and speak to existing franchisees about how they are faring with their business. It is also worthwhile doing a check on the company selling the franchise. It is very important that you back a financially stable company. Economically – this is the best time to become an entrepreneur. The economic outlook is generally rosy, inflation is low and banks are lending money at historically low rates. It has never been a better time to look for a serious business opportunity. After all is said and done and you have chosen the business opportunity that you are going to go with, then roll up your sleeves, do not let anybody distract you and prepare for some hard work.
Posted on: Mon, 20 Jan 2014 19:00:00 +0000
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