Etini
Valued Contributor
A lot of people, especially young entrepreneurs when they consider starting a business start by looking at profit margins. I always tell people that if you need money to eat and buy clothes, get a job. Business is not for you. Sometimes, building a business to a leg of profitability might take months, sometimes years.
When you want to start a business, have it at the back of your mind to build your capacity first. When you have the capacity, profits would follow. Some people don't invest in knowledge and experience. They just want to sell and make money. Sometimes, in the process of building capacity, you might fail many times.
Any reasonable investor cannot put in funds in your business if he/ she is not sure you can deliver. What do you know about that business you are parading yourself in? How deep is your knowledge and expertise in it? How long have you invested in acquiring knowledge in that field? Capacity would help you progress I. your business.
When you want to start a business, have it at the back of your mind to build your capacity first. When you have the capacity, profits would follow. Some people don't invest in knowledge and experience. They just want to sell and make money. Sometimes, in the process of building capacity, you might fail many times.
Any reasonable investor cannot put in funds in your business if he/ she is not sure you can deliver. What do you know about that business you are parading yourself in? How deep is your knowledge and expertise in it? How long have you invested in acquiring knowledge in that field? Capacity would help you progress I. your business.
