Would you like to have your own business?
Currently, you might be :
- Working for a company but would like something of your own.
- Not working and looking for something to do.
- Tired of commuting.
- Tired of working 9-5.
- Working long hours for somebody else.
- Selling products or services you don’t like.
- Not making enough money as you would like.
- Afraid of the COVID-19 virus when going outside your home to work.
Why haven’t you started already?
The typical reasons why people have not launched their own business are:
- They already work at a company and would not like to lose the income stream until their own business is producing enough profit.
- It’s not easy to build a business after hours or on weekends.
- It’s not easy to build a business that will produce enough income to replace the current income.
- Don’t know where to start.
- What to buy and sell?
- How to buy?
- How to sell?
- Afraid of failure
- New businesses have too many unknowns. This increases the chances of failure.
- About 20% of small businesses fail in their first year and about 50% fail in their fifth year.
- In most cases failure means almost total loss of all the money invested.
How can you have your own business?
- Decide if you want to provide a service or buy/sell products
- Services are usually very time consuming and/or employee intensive and cannot easily scale.
- Buy/Sell (Inventory) businesses usually require renting a warehouse, warehouse employees, etc.
- Decide if to start on your own or buying an existing business
- Buy an existing business contact a Business Broker
- Business being sold are usually declining, have problems or the owner wants too much.
- Start on your own. Could could either:
- Buy a Franchise: Substantial initial expense in Franchise Fees and company set up.
- Start from scratch: A lot of uncertainties and long time to ramp-up.
- Buy an existing business contact a Business Broker
- Pick a product or service to offer
- This is perhaps one of the most important and difficult issue to start. If you pick the wrong product or service, you might spend the next few years in a futile attempt to build a business that will finally fail.
What would an Ideal Inventory Business be?
- Work 100% from home
- No need to visit or talk to customers face to face.
- No need to physically manipulate products.
- No need to pay rent for an office or warehouse.
- Easily deal with employees
- Can start without hiring employees.
- Can add work-at-home employees as needed.
- Can hire employees overseas at a fraction of the cost of U.S. based employees.
- Extremely scalable
- Can increase revenue to tens or hundreds of millions of dollars.
- Can add as many products and as much storage space as needed.
- The only limit is the amount of money invested in inventory.
- Use the purchasing power of a group and invest mostly in inventory
- No need to make huge investments in hit or miss products.
- Get volume discount pricing and savings on shipping based on Group Purchasing, without having to buy huge quantities.
- The vast majority of the investment goes to sellable inventory, not to fixed assets or expenses.
- Sell in USA and operate from anywhere in the world
- Since this business requires no physical presence of the owner or employees, it can be operated anywhere.