29
Aug
2019

Tips on how to build business that have low-risk of losses

Is there someone who is willing to risk a business loss? For me, I can’t bear to lose. But that is … sometimes things we do not expect and do not always happen. To a certain extent, it is possible to thwart the business we run.

Maybe that’s why some people say, if they want to do business they need to have experience. If you counting only with your knowledge, from the content of the books, videos and FB alone, it is not enough. We need to have experience in the business.

If you want a business experience, we can actually get from those who are already in the business. Get a job with them. If they have no money to pay, tell them as close as you can to work without pay. The intention is to work for help and at the same time to gain experience in running the business.

I want to talk about some tips you can take to prevent you from experiencing any losses in the business you run.

coworking space common ground

Create a service-based business

Service-based businesses are also low risk. There is no stock you need to keep. Your service depends on what skills you have.

In my own case, since my skills are in the field of writing, I also offer advertising writing services to entrepreneurs who want to introduce their business to a group of internet users. I don’t need to have an office, I can work anywhere such as cafe, coworking space or even at my home.

Start a business in a field where we are well versed

Look inside yourself. Ask yourself. What are your skills? What skills that you have mastered. Maybe you have a great skill that no one else has. Use it to do business. It doesn’t matter if it’s part time or full time business.

Create Joint Venture with the expert

What if you just didn’t have the skills? If anything, it was just mediocre. Don’t worry, you can partner with any person you believe can help you start your own business. Make JV with others.

Create a business that doesn’t require you to keep stock

For starters, maybe I can suggest you do a business that doesn’t require you to keep stock. For example you make a business using the concept of dropshipping or even affiliate business. On the plus side, it is pretty good, even if you have no stock in hand.

Conclusion

In conclusion, there are many ways to avoid losses especially when you are a newbie in this business world. Always finds or consult with someone before enter any business. Get to know and learn the business environment before you start.

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