How to begin? The world of business owners

Many people have become very rich without any education. Not academic and not even professional. They didn't always have special talent, money status or connections, but they still managed. They built businesses from scratch and what worked for them, they continued to expand, grow and improve. So how do you make money in the world of business owners?

Step 1 - choose a field that interests us

Choose a field that you have an affinity for. Common fields that people choose are:

- Food: restaurants, stalls, ice cream parlors, deliveries from home.

– Drinking: fruit shake stands, cafes, pubs.

– Fashion: clothing stores, jewelry, shoes, designer clothes, hairdressers.

- Internet and hi-tech: startups, applications, websites.

– Studies, placement and training: professional schools, recruitment, courses and more.

- Marketing and sales: real estate, automobile, social networks.

Of course the list goes on. Look around and start seeing opportunities. For each of the next steps in the queue, some examples from different fields are given.

In the field of marketing, you can also market products of other companies or people. All this in the article Affiliate marketing for beginners.

Step B - get to know the field closely 

In order to be truly successful in the field, you will have to know it "like the back of your hand". In many places you can do it very easily, for free and sometimes they will even pay you for it. If, for example, your dream is to open a restaurant - go work as a waiter. If you go into the field of fashion, you can work in a clothing or jewelry store, and in the field of studies, you can start earning a name by giving private lessons.

The closer you work in the field to the business you want to open, the better. In the meantime, you are learning the field, and making money. Sometimes you also decide that the field is not for you and you will get a new direction and that is also perfectly fine. All without commitment, and without spending huge sums and taking loans that you don't know how to pay back later.

Step three - start small 

After we dabbled in the field a bit, it was time to "put your foot in the water". It's always better to start small and you can do it in more areas than you think. If you are excellent cooks and you want to open your own restaurant, you can check if there is even a demand for you. Set up a booth at an event that has a lot of people and see how it goes.

If you are a designer just starting out, start selling your clothes online. Although online shopping in Israel is still in its infancy, abroad it is very common. You can sell on ebay, amazon and there are no shortage of websites

Step D - improve the business

We made all the arrangements and set up a small business that even brings in quite a bit of money. Now we will make sure to improve it as much as possible. In the food sector we will learn how much stock to order so that we don't lose sales on the one hand, but we don't throw away a lot of food on the other hand. We will use past data to predict how much food we will need.

In the field of studies, for example, we will learn what material the students have more difficulty with, how to teach better, and how to turn them from one-time customers into repeat and regular customers. We will also learn about the way how to get new students, what works and what doesn't work.

Phase E - expanding

Now that we have an active and thriving business it's time to grow. In the field of studies, for example, we can transfer lessons to reinforcement groups. Instead of giving a lesson to one student at a time, we will give regular reinforcement to several students.

In the area of the Internet, you can expand on other areas or add additional sections to the website (for example Walla which started as news and games and added series and movies and many other separate sections).

Step 6 - hire people to do the work

Once you have built a profitable business, you can hire managers to improve it for you. Although they will cost you money, but with the successful business you will still be left with a lot of profit. The most important thing now is that you have time. During this time you can start more businesses, travel, have fun and basically start living like the people you always envied.

Good luck!

I recommend that you continue from here to a very important article that will help you How to save a lot of money every month by properly managing inventory. This may not be the most glamorous area, but it is the area where the 90% from the entrepreneurs falls short.

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