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 Starting a business or start up

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SUScute_miao
post Nov 22 2018, 11:40 AM

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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
SUScute_miao
post Nov 23 2018, 07:58 AM

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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....
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luckily i am into plants only..
SUScute_miao
post Nov 25 2018, 12:14 AM

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QUOTE(MUM @ Nov 24 2018, 01:11 PM)
the shop marked up the price of your plant by just how many %?
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100-150 depends on the value added
SUScute_miao
post Nov 25 2018, 07:04 AM

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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
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depending types

imported we can even markup higher cause its impossible for others to get the permit to import it
SUScute_miao
post Nov 25 2018, 08:06 PM

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travwl around..

i have a gallery, farm and cafe now..

coming up next.. cat's cafe
SUScute_miao
post Jan 4 2019, 08:30 AM

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

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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.
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absolutely right

i m not worry with my competitors as if your market is niche, they wont be able to penetate easily

 

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