how to start successful business and become rich.

How to start successful business and become rich. 

If you are here so i can consider most of you are a school/college going student or have completed his/her studies or a person frustrated from his/her job.

Do you know once when Bill gates was talking over the phone, then person next to him asked ‘whom are you talking to?’ . Bill gates replied ‘I was talking to bank for loan’ . the person asked ‘why do you need loan?’. Bill gates said ‘ I don’t need loan , the bank does’.

Now you have a burning desire to start your business and become successful in anyway. It is in your mind that once i have to try it i don’t care what happens next. Then this blog is for you read the whole blog and you will understand how to start your desired business and become successful in that.

Do you know based upon thousands of surveys 90% of people who are not reading this blog will not become successful in their business because from that 90% the 60% of people will fail because they will never try to start their business until their death because of the fear of future loss. And remaining 30% will not fail because they have not tried but will fail because they will not  learn how to do business and will directly start the business because they think they have a good idea and have much to invest so they will become successful anyway. It is like you don’t know how to swim and you have confidence  that  if you jump in to water you will swim.

   We can consider business is like chess directly entering in to business is like you don’t know anything about chess and you are going to a chess competition and try to win chess before a person who is champion of chess and has played chess from years.

Now you know you can’t start a business without learning it. It is not the theoretical study based upon your school or college studies but is practical knowledge then what’s the way  to learn the business you want to do. Here is a step by step guide to it.

1.       Select your business:     

                                     

     

         selecting your business is not an easy task so how to find which business is perfect for you?                                                                                           

      Survey for products that are needed in your locality by the help of social media platforms. select the business the business that is having less competition and the main thing is you should be interested in that business so that you should not quit the business before it give any result the selected business should not take any big investment to start on small scale.

ADVICE: The business you select should have speciality .e.g If it is plastic shop it should contain all kinds of plastics.

2.       OBSERVATION: 

             you should observe the statistics of your selected business and see what are the main resources from which that shop is making maximum profit e.g If the plastic shop is making maximum of its profit from 50 micron carry bags so you will keep variety of 50 micron carry bags.                                                                                                                                                              Do you know 80-20 principle which is also called Pareto principle which states that the 80% of the profit is gained by only 20% of work. It can be applied in almost every aspect of life like 80 percent of grocery is grown from 20% of land and 80% of money is owned by 20% of people.                                                                                                                                                             So to start a new business you have to find that 20% work which make 80% of profit in that business by observing and also you should find that 20% advertisement platforms from where the 80% of customers are coming from.

3.       UNDERSTANDING: 

        understanding  is the most essential part while starting a business you have to understand the things which you have observed and you should conclude as the things as much as you can it is not like our school/college life where you will be given tons of information and in that tons of conclusion here you are the only one who can conclude the things based on your observations. e.g. If you have observed that 50 micron carry bag is making 80% of the profit so you can conclude that there is need to keep variety of 50 microns carry bag based on size and colour. Also it is the part where you will understand the people you have observed that have failed in there business so why the failed and the people who achieved success so why they achieved success what was the difference between them? Both have invested both were having good ideas both were talented then why one failed and one achieved success for better understanding you can read books and autobiographies  of successful people.                                                                                                                                                                                                    E.g the people who failed in business have not learned business and the people achieved success have first learned the business.

4.        APPLY  IT:      

    This step will decide you will fail or become successful. Here if you will start a small scale business and implement whatever you understood means you have to practice the business. Because you know practice makes the men perfect. And if your practice become successful then you have to shift your business slightly towards large scale business and like this you can achieve success in your business.

5.       NEVER  QUIT:

   If you will not get success in your small scale business then make changes in it when ever it is ready to make money means it became asset from a liability then you can shift it to large scale slowly. But the thing is you should not do it fast if you will start a business on large scale directly without testing it to small scale then if that business is failed then you will suffer expenses of a big bulky liability.

                           

Here liability =An object that suck your money.

          Asset     =An object that will create/grow money.  

So best of luck!! 
I believe this information must be useful to you.



Make sure you should Bookmark this blog if you want more content like this.

I pray you become an millionaire or billionaire in your near future.
Thank you being part of our society.

comment below and tell me how this blog helped you.
share if you want to tell this useful information to your friends. 

At the end I want to tell you a thought:“Success is going from failure to failure without losing enthusiasm.”

                                         - Winston Churchill

goodbye friends until my next post.
stay happy stay smiling.