Copying a business, or how to capitalize on other people’s ideas (part 1)
Copying a business is a really powerful tool for creating a truly solid business. And let them say that it’s bad, that originality and creativity are valued higher, that copying a business is inefficient, etc. More than 95% of fundamentally new businesses fail. Yes, there will be those who shoot, of course. But their number as a percentage of the number of attempts is negligible. And that is a fact.
Starting a business in a non-existent niche is not a business risk, it is just a hope that maybe you will be lucky. And building a business on one hope is at least unreasonable. There is no way to plan, analyze, make informed decisions. Everything will be based on the same assumptions. And you won’t build a business like that, friends. Yes, maybe lucky. There are chances – true, a maximum of 1%. Want to try it. Continue reading
Reduce business expenses – a way to increase profits №5
So, dear undertook, we got to the fifth, last in our list of ways that increase profits in our business. This will reduce costs in your business. Prior to this, we talked about the need to constantly attract potential buyers, how important it is to complete a larger number of sales, how to sell goods and / or services for a larger amount, and how important it is to make repeat sales.
All of these methods will undoubtedly increase profits in the business. But, you see, to reduce costs also means to increase profits, albeit “on the other hand,” of course, not to the detriment of marketing and the quality of work. It’s just possible to reduce business costs without compromising the business itself. And they must be used. Continue reading