Welcome Guest ( Log In | Register )


Bump Topic Add Reply RSS Feed New Topic New Poll

Outline · [ Standard ] · Linear+

> Starting a business or start up

views
     
MUM
post Nov 22 2018, 11:45 AM

Look at all my stars!!
*******
Group: Senior Member
Posts: 3,726

Joined: Mar 2015
QUOTE(cute_miao @ Nov 22 2018, 11:40 AM)
a lot ppl say me gila when i started my biz

back to 8 yrs ago, i still rent a small room in kl.then i keep aquarium plants.i buy from shop, n resell them

then i work hard to think how to market it. selling thru diff platforms n i have some idea then bout my customers.

i work on my idea..n now, i own my farm, supplying back to the shops where i took stocks last time
*
my friend did fish rearing.....and then sell back the fish to the aquarium shops.....

he cursed...after realising how much that shop made by just reselling those fishes....
NightHeart
post Nov 22 2018, 12:17 PM

Look at all my stars!!
*******
Group: Senior Member
Posts: 3,659

Joined: Mar 2009
QUOTE(MUM @ Nov 22 2018, 11:45 AM)
my friend did fish rearing.....and then sell back the fish to the aquarium shops.....

he cursed...after realising how much that shop made by just reselling those fishes....
*
That's assuming if can sell la laugh.gif
Death rate is quite significant & the cost of keeping them alive until they're sold is something to consider too lol.

Most people who aren't in business line will always think many businesses sell at cut throat prices, not understanding the margin is there to cover a lot of costs laugh.gif
MUM
post Nov 22 2018, 12:21 PM

Look at all my stars!!
*******
Group: Senior Member
Posts: 3,726

Joined: Mar 2015
QUOTE(NightHeart @ Nov 22 2018, 12:17 PM)
That's assuming if can sell la laugh.gif
Death rate is quite significant & the cost of keeping them alive until they're sold is something to consider too lol.

Most people who aren't in business line will always think many businesses sell at cut throat prices, not understanding the margin is there to cover a lot of costs laugh.gif
*
what my friend did next was....
collect/filter out the better breeds.....
sell those lower grades to the shops....

sell the better one on the hobbies forums.....


cute_miao
post Nov 23 2018, 07:58 AM

Look at MY STARS!!!!!!!!!
******
Group: Senior Member
Posts: 1,438

Joined: Dec 2011




QUOTE(MUM @ Nov 22 2018, 11:45 AM)
my friend did fish rearing.....and then sell back the fish to the aquarium shops.....

he cursed...after realising how much that shop made by just reselling those fishes....
*
luckily i am into plants only..
shadow_walker
post Nov 23 2018, 08:22 AM

Regular
******
Group: Senior Member
Posts: 1,255

Joined: Sep 2012
QUOTE(NightHeart @ Nov 22 2018, 12:17 PM)
That's assuming if can sell la laugh.gif
Death rate is quite significant & the cost of keeping them alive until they're sold is something to consider too lol.

Most people who aren't in business line will always think many businesses sell at cut throat prices, not understanding the margin is there to cover a lot of costs laugh.gif
*
yes...doing business u need to factor in the risks as well into the pricing. coz there can be unforeseen circumstances that can effect your profit or you lose money. lolz

this is where inexperience people will lose out as they sell at a lost without realizing it. later business bungkus liaoo rclxub.gif rclxub.gif rclxub.gif


MUM
post Nov 24 2018, 01:11 PM

Look at all my stars!!
*******
Group: Senior Member
Posts: 3,726

Joined: Mar 2015
QUOTE(cute_miao @ Nov 23 2018, 07:58 AM)
luckily i am into plants only..
*
the shop marked up the price of your plant by just how many %?
cute_miao
post Nov 25 2018, 12:14 AM

Look at MY STARS!!!!!!!!!
******
Group: Senior Member
Posts: 1,438

Joined: Dec 2011




QUOTE(MUM @ Nov 24 2018, 01:11 PM)
the shop marked up the price of your plant by just how many %?
*
100-150 depends on the value added
MUM
post Nov 25 2018, 01:45 AM

Look at all my stars!!
*******
Group: Senior Member
Posts: 3,726

Joined: Mar 2015
QUOTE(cute_miao @ Nov 25 2018, 12:14 AM)
100-150  depends on the value added
*
no wonder you posted as below....
my friend told me the shop marked it up by 3x

QUOTE(cute_miao @ Nov 23 2018, 07:58 AM)
luckily i am into plants only..
*
cute_miao
post Nov 25 2018, 07:04 AM

Look at MY STARS!!!!!!!!!
******
Group: Senior Member
Posts: 1,438

Joined: Dec 2011




QUOTE(MUM @ Nov 25 2018, 01:45 AM)
no wonder you posted as below....
my friend told me the shop marked it up by 3x
*
depending types

imported we can even markup higher cause its impossible for others to get the permit to import it
yklooi
post Nov 25 2018, 01:04 PM

Look at all my stars!!
*******
Group: Senior Member
Posts: 5,316

Joined: Apr 2013


QUOTE(MUM @ Nov 25 2018, 01:45 AM)
no wonder you posted as below....
my friend told me the shop marked it up by 3x
*
hmm.gif I am sure your friend would have used the price and quality of the fishes sold at the shop as a benchmark for negotiation of the price of the fishes he/she are selling on the hobbies forums....
thumbup.gif using the price and quality fo the fishes on the shop to promote his/her own fishes.

cute_miao
post Nov 25 2018, 08:06 PM

Look at MY STARS!!!!!!!!!
******
Group: Senior Member
Posts: 1,438

Joined: Dec 2011




travwl around..

i have a gallery, farm and cafe now..

coming up next.. cat's cafe
Kognisjon
post Jan 4 2019, 06:36 AM

New Member
*
Group: Junior Member
Posts: 31

Joined: Dec 2017
From: USA, Florida


QUOTE(cute_miao @ Nov 25 2018, 08:06 PM)
travwl around..

i have a gallery, farm and cafe now..

coming up next.. cat's cafe
*
A gallery? That sounds cool! It's the one devoted to art right?
Kognisjon
post Jan 4 2019, 06:47 AM

New Member
*
Group: Junior Member
Posts: 31

Joined: Dec 2017
From: USA, Florida


QUOTE(Furfur @ Nov 16 2018, 02:33 PM)
Just curiosity, how many people here pondered about starting a business before but don't know what to do or where to start?

What's the obstacle stopping you to take the first step?
*
I already have my own business and from my own experience I can say that the main obstacles are absence of ideas for your company, lack of knowledge about business strategies/tools and absence of a start capital. The last one like it was mentioned in previous responses is even a more common thing than two previous ones.
But even if you have the one, anyway you should have a clear goal and understanding of what you're planning to do, also a good business plan and enough experience/knowledge in business strategies. It's simple, if you start a new company without knowing about general competition in your certain sphere, there's a great risk, that you'll fail soon.
But the start capital is the important thing too because you'll need money for providing your production/service, hiring the workers, opening an office, advertising and so on. Don't forget about business taxes and security systems for your company, like for example fire protection, backflow prevention https://www.americanbackflowprevention.com/...low-testing.php and so on because your workplace should be always safe and comfortable for you, your workers and clients.
You also should be patient and hardworking at least for first years, with good time-management skills too, and as I noticed from my experience not so many people are ready for this.

This post has been edited by Kognisjon: Jan 4 2019, 08:32 AM
cute_miao
post Jan 4 2019, 08:30 AM

Look at MY STARS!!!!!!!!!
******
Group: Senior Member
Posts: 1,438

Joined: Dec 2011




QUOTE(Kognisjon @ Jan 4 2019, 06:36 AM)
A gallery? That sounds cool! It's the one devoted to art right?
*
aquascape galleey
cute_miao
post Jan 4 2019, 08:31 AM

Look at MY STARS!!!!!!!!!
******
Group: Senior Member
Posts: 1,438

Joined: Dec 2011




QUOTE(Kognisjon @ Jan 4 2019, 06:47 AM)
I already have my own business and from my own experience I can say that the main obstacles are absence of ideas for your company, lack of knowledge about business strategies/tools and absence of a start capital. The last one like it was mentioned in previous responses is even a more common thing than two previous ones.
But even if you have the one, anyway you should have a clear goal and understanding of what you're planning to do, also a good business plan and enough experience/knowledge in business strategies. It's simple, if you start a new company without knowing about general competition in your certain sphere, there's a great risk, that you'll fail soon.
But the start capital is the important thing too because you'll need money for providing your production/service, hiring the workers, opening an office, advertising and so on. Don't forget about business taxes and security systems for your company, like for example fire protection https://www.americanbackflowprevention.com/, backflow prevention and so on because your workplace should be always safe and comfortable for you, your workers and clients.
You also should be patient and hardworking at least for first years, with good time-management skills too, and as I noticed from my experience not so many people are ready for this.
*
absolutely right

i m not worry with my competitors as if your market is niche, they wont be able to penetate easily
SamxJS
post Jan 10 2019, 12:27 PM

New Member
*
Group: Junior Member
Posts: 31

Joined: Nov 2012


Hi everyone, my friend and I is planning to start a business but is not technology-based. The target market will be very niche and there's only few competitor in the market. But if to start this business we need a large amount of fund. Any advice how to get funding since a lot VC now only invest in tech-based company?
PrincZe
post Jan 10 2019, 01:09 PM

Look at all my stars!!
*******
Group: Senior Member
Posts: 2,389

Joined: Oct 2008
QUOTE(SamxJS @ Jan 10 2019, 12:27 PM)
Hi everyone, my friend and I is planning to start a business but is not technology-based. The target market will be very niche and there's only few competitor in the market. But if to start this business we need a large amount of fund. Any advice how to get funding since a lot VC now only invest in tech-based company?
*
government loan? state loan?
SamxJS
post Jan 10 2019, 01:17 PM

New Member
*
Group: Junior Member
Posts: 31

Joined: Nov 2012


QUOTE(PrincZe @ Jan 10 2019, 01:09 PM)
government loan? state loan?
*
RM2million start-up cost sweat.gif sweat.gif
NightHeart
post Jan 10 2019, 04:18 PM

Look at all my stars!!
*******
Group: Senior Member
Posts: 3,659

Joined: Mar 2009
QUOTE(SamxJS @ Jan 10 2019, 12:27 PM)
Hi everyone, my friend and I is planning to start a business but is not technology-based. The target market will be very niche and there's only few competitor in the market. But if to start this business we need a large amount of fund. Any advice how to get funding since a lot VC now only invest in tech-based company?
*
Friends, family & investors.
Jordy
post Jan 11 2019, 10:12 AM

Entrepreneur
Group Icon
Finance, Business & Investment House, Technical Support
Group: Elite
Posts: 5,360

Joined: Nov 2004
From: Klang, Selangor


QUOTE(SamxJS @ Jan 10 2019, 12:27 PM)
Hi everyone, my friend and I is planning to start a business but is not technology-based. The target market will be very niche and there's only few competitor in the market. But if to start this business we need a large amount of fund. Any advice how to get funding since a lot VC now only invest in tech-based company?
*
You can try https://pitchin.my/ equity crowdfunding.

3 Pages < 1 2 3 >Top


Bump Topic Add ReplyOptions New Topic
 

Switch to:
| Lo-Fi Version
0.0904sec    1.31    6 queries    GZIP Disabled
Time is now: 27th June 2019 - 12:57 AM