Ticket to the post-industrial economy
Several types of economies are known, and one of them is post-industrial. The transition to a postindustrial economy is one of our possible prospects if suitable conditions arise for this.…

Continue reading →

The real basics of a successful business
Is it possible to describe the basics of a successful business in a few words? Is there any simple way to reveal the essence of a successful business quickly and…

Continue reading →

Research as a way to get rid of competitors
New ideas are very valuable information, because for their implementation you need new products. Anyone who finds out about new ideas earlier than others can create the goods necessary for…

Continue reading →

How to start a profitable business

To start a profitable business in modern conditions, you need to know some important points. The bottom line is that times have changed and now the business does not start as it began before. In the old days, it all started with the construction of the plant, if it was about production, or with the construction of retail space, if it was about trade.

How to start a profitable business

It was right to start a business like this in the past, because there was a widespread shortage of goods and services. You build a plant, produce anything, and it sells well. Or you build a shopping center, import goods into it and they leave like hot cakes. Now, to start a profitable business, you need to act in a completely different way.

The inertia of former times remains. Now many continue to use the outdated approach – first they open a company or build a factory, start to produce something, but very often it doesn’t go and the product is not for sale. In modern times, this approach does not work, because so many capacities have been set up that it is possible to produce more than to sell, and several times.

In today’s world, consumers are in short supply; nobody needs them. If so, then, at present, it is necessary to start a business from the production of consumers. If you know how to do this, then it makes sense to open a business. If you don’t know how to do, then either you need to learn how to create consumers, or you can think of a different occupation for yourself.

One simple fact needs to be recognized – now the answer to the question of how to start a profitable business does not sound like it was 10-20 years ago. These are the realities of the modern world and you need to adapt to them if you want to make money. First of all, it is necessary to fundamentally rearrange all business processes, because now a different business algorithm is used. It looks something like this:

choice of market space
the study of the “population” of the market space
creating a product sample
creating needs
consumer creation
creation of capacities for the production of goods
distribution network
product release and distribution
How to start a profitable business
How to start a profitable business

To start a profitable business, first of all, you need to select a promising market space. Yes, it is the market space, i.e. a certain territory where there are potential consumers of your products, because the market is not yet discussed, because the market is a collection of consumers that we do not yet have and we still have to create them.

Once a market space is chosen, it is necessary to study its “population”

The choice of market space can be carried out according to various criteria. For example, it may be the distance from the place where we plan to produce products to the place where it will be sold. Or it can be a space where potential consumers have a certain level of income, in general, any convenient variable can be taken as a criterion.

After the market space is chosen, it is necessary to study its “population”. It is very important to carefully study the “population” of the market space, i.e. potential consumers. If you ignore its characteristics, then you can pay very cool. With information about potential consumers, you can create the product that suits them the most.

To explain on fingers that we have some kind of super-duper product is possible, but rather difficult. It is much more efficient to have a sample and seduce those whom we see as consumers. The trick is that it does not always have to be some kind of ready-made material sample; very often it’s enough to build a virtual sample and promote it.

Creating a virtual product is much cheaper than real

Suppose, if we are going to produce mobile phones, we can create a virtual device, endowing it with different characteristics and in this form begin to promote it. Creating a virtual product is much cheaper than a real one, and by this very many companies first create a virtual sample of the future product and work with it.

After there is at least a virtual model, the population of the market space needs to create a need for a product or service. As a rule, any potential consumer initially has little concern for our products. He has his own rhythm of life, his habits and current needs. He does not pay attention to goods that go beyond their limits.

If you offer a person a product that he does not need, he will most likely hold it in his hands with great curiosity. He will show by all appearance that he is interested and we will begin to think that he wants to buy it. However, in 99% of cases, the potential customer will turn, twist and return the goods. After a couple of minutes, he will completely forget that he saw him and is unlikely to ever remember him.

Effective ways to promote a business
Once your company was not there, but then it appeared and business promotion began. Then, at the initial stage, when it was most difficult for you, nobody knew about the…

...

An effective way to improve your business
Improving a business is a necessity related to the fact that everything flows and changes. Once the most profitable business was agriculture. Then industry became the most profitable business. After…

...

Modern prospects of small business
The prospects of small business are connected with the understanding of the fact that it occupies one of two niches in the economy. The first of these is the launch…

...

10 main reasons for low profits
Many companies have low profits, are on the verge of bankruptcy and are waiting for a miracle. For some, this has even become the norm. This happens for years, sometimes…

...