Business for a young girl
Yesterday, I was asked the tricky question: "What business can a young girl start?" The hidden addiction to that question is - 'to make a lot of money fast.
As much as I support new businesses and believe in people's ability to grow their businesses, I sort of no longer believe in the ability of a business to sustain a person. Especially if this business is small scale and new.
Yes, people can grow and all that but there's logic to my reasoning.
Starting a business should be something that an individual does when they have a lot of backup funds. There will be a lot of losses during the early years, I'm talking 5 years of crawling and struggling to survive.
In a situation where a person saves funds and decides to use their life savings to start up a business. Unless that sum can hold the business up for 5 years without stress, there will most likely be a failure.
However, unless your interest is in starting a small-time business wot small time gains, maybe looking at making profits of less than $0.5 a day, then you will most probably be okay. We all know that $0.5 can't be enough to live off of. So, how can you depend on a business as a last resort to financial freedom?
The answer, have a lot of money and don't count on your profits for at least 5 years.
The next option is learning a skill. Depending on the kind of skill learnt, you will still need a lot of money.
The tech and information industry is on fire. Any skill mastered in this industry opens you up to a world of incredible opportunity.
These skills are expensive to learn and master. They require a certain amount of brainpower that a lot of individuals, sadly, do not possess.
However, if you decide to settle for these typical skills that are accessible, you have to consider other factors.
The first is your location. The second is your mastery and drive.
I'll delve into these in other posts.
These reasons are based on my location. Nigeria is somehow sometimes. I can only speak for my location.
I can't tell how it works in other parts of the world, but it can't be so different.
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In the Western countries alot of girls are doing Onlyfans to get a shit ton of money xD
Business need strategies to become successful which as follows,1 your ability think,2 location also matter then capital.
Sadly, a lot of people can't wrap their heads around earning money throuh online content creation.
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Wow this is not bad the concept of your topic explains everything very well on how to set up a business and what to look out for in trying to make your business survive in a competitive market.
One thing about setting a business is to get your Capital ready and keep it aside where it will be used for effective turnover which will not allow you seek for extra fund outside the business or requires you adding to the business.
Little education from me: businesses are set for you to make profit, in a case In which you're not making profit and your Capital is not coming out that mean you're making loss. And when such happens try run a text on it for 2month max if you're not able to make profit re-strategies and make an upgrade in the business or your close it down before you loose the whole capital in it.
Why I say so is because the cost of purchasing a product for sale will be less than the selling price is n the market. So in such a case make sure you know how to calculate your profit and know how to invest more.