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How to start my own business? Part 1. Five simple rules | Posted 3 years ago
So, you think that you are ready for your own business. Or - not yet thinking about it, but you did start reading this article? Then you already have a chance to become a businessman. "A journey of a thousand miles begins with a single step," as Lao Tzu said. Having opened this article, you took such a step. Is it enough to keep you going? In this article, Crowdholding presents 5 rules that you must take into account before starting a business. So, where does any business start? Not a chance that you’ll guess ... With a desire, of course! But, as you know, the devil is in the details. If you only want to improve your financial situation, then don’t necessarily need a business. For example, any of the "trader" on the market is a businessman, like grandmothers who sell sunflower seeds. But this alone does not make a person rich. On the other hand, being employed can get you a very good salary. One of our friends, a young man, had a monthly salary of 240,000$. Moreover, business trips abroad, expensive hotels, company car ... Does he need his own business, with its headaches and risks? We believe not. Try to make a career in a large corporation, but also consider reading our 30 reasons to be an entrepreneur. The first rule that must be firmly remembered: "Being wealthy does not equal owning a business ." Haven’t changed your mind yet? Then we’ll continue. There is a harsh statistics that claims that two-thirds of companies close operations in the first year of work, of those who survive - in the next year, two-thirds are closed. That is, the chances of surviving in two years - only 10% of firms as advocated in this article. Of course, there are firms that open only to close immediately. Another statistic: before you find a profitable business, you will have to try on average five to seven times. Be prepared for repeated defeats. Worse, the most profitable projects hold serious risk. Less risk - less margin. The second rule: "My business is always a risk, but not always a success." If you are not afraid yet, then you need to decide on a project. The main thing in a project is the idea. Any successful business is always an idea that distinguishes it from others. Of course, you can open a kiosk at a stop and trade, like hundreds of others, with chocolates and beer, but you will not succeed in life like this. You can not go to business in the tail! If you see an innovation that can bring money - cling to it. Study it, explore it! Good advice: an innovation in your city is sometimes something that in another city is a long-known affair. Almost everything new is a forgotten old (or just little-known). Study business in other cities (countries), pay special attention to what is not in your city yet. This is even more simple because the idea has already proved the right to exist. No interesting idea - do not even bother. Read about how collaboration with the crowd leads to unprecedented innovation in our blog. Ideological competitors, you just eat. The third rule: "Successful business is always an innovation!" If you think that we try to dissuade you, then you think wrong. We'll sweeten the deal. There is an opinion that a good start-up capital is always needed for one's business. In most situations, this is not the case. If, of course, you want to open a restaurant - yes, money is needed and considerable. But we would not advise you to start with a restaurant. Most of the world-famous businesses started literally from cents. Examples: Microsoft, Macintosh business, Coca-Cola, Kodak, Google and many others. Read the story of startups that launch products with minimum-low investments  If you start the right business, then it starts to feed itself soon enough. Your task is to hold out for a short period of time, two or three months, on a starvation ration. As a rule, in a quarter it will be already known whether there is a prospect, and whether it is worth continuing the business, or whether it is necessary to cover it. The fourth rule: "For the starting a business you need minimal money, but efforts invested - as much as possible." Well, if the circumstances have developed in such a way that you need money, you can always find them. The standard search scheme is FFF, that is, family, friends or fools. If none of the FFF methods worked, maybe you are on the wrong path? If friends do not just want to lend money, offer them a joint venture. If it didn’t work out that way, if we would be in your place, we’d had seconds thoughts about whether you need a business at all. But, there are exceptions. If you consider yourself a genius - take a loan from the bank, now it's easier than ever. Only take a loan that is the RIGHT one. This means that you should not pay an annuity (monthly), but at the end of the period. Only monthly interest is paid, and the effective rate should rise above 20%. There are such loans (although it is not easy to take them), ask in banks. You can still win a city or regional competition and get a solid tranche from the authorities. But here you need the ability to write business plans, and not everyone can do it. You can just come to a rich entrepreneur with the idea of investing, our friend got a lot of money and successfully works for the second year. Although your idea may be intercepted by others, we warned you about the risk - remember? The fifth rule: "If you need money for the business - they will certainly be found!" Everything you read should help you just decide whether to go into business. It is clear that this is a story, but the stories are necessary. Success stories are born on Crowdholding where your can launch your startup and collaborate with the crowd. In our time, we were also tormented by doubts, and we made our choice. But we know one thing, employment is not for us. Even for big money. And, finally, the most important thing ... Good luck in business!
Project: Crowdholding Blog | Rewards: 0 YUP
Introducing Edziban Hub | Posted 6 months, 3 weeks ago
Hello Crowdholders, Today we would love to introduce ourselves. We're Edziban Hub. Edziban is the Fante name for food. Fante is a local language in Ghana.  Currently, we are at an early stage and we can't wait to work more with you to improve our product ✊ Curious about who we are and what’s our business is about?   Problem: The grocery market has been slow to adopt online sales in Ghana, but the latest trends show that it is about to change. Online shopping is on the rise, but for further adoption, it must solve several obstacles, among them the preservation and delivery challenges. Different players try to approach this challenge differently; our unique solution is the network is through a mobile market bus – MobiMarts. This model, after successful implementation and acceptance, will make it the starting point of the network we want to build in multiple cities around the world but first in our home country of Ghana.   The current grocery market is still dominated by big brick & mortar retail chains, which causes several anomalies on the market. Retailers are pushing producers to lower their prices, yet not transferring these price savings to end consumers and not participating in producer’s risks. End consumers are confronted with highly-priced convenience foods and yet they cannot influence the supply as they could if they had more direct access. This can be changed but requires a different business model for online grocery sales.   We look to disrupt the global grocery market, one of the biggest consumer markets, which is forecasted to reach $11 trillion in 2021.   Our Product: We envision a global ecosystem of consumers and producers, big and small being directly connected through a global e-commerce platform and approaching the markets locally. To build this, we want to develop an innovative online marketplace, Edziban Hub, using open source technologies plus a network of MobiMarts (buses).   Our MobiMarts will present one of the best and most appealing solutions available for any market and multiple case use scenarios, among which grocery delivery presents the biggest potential for exponential growth in upcoming years. Therefore, it is of strategic importance to further build up the network in other AU metropolises as well.   With Edziban Hub - Don’t stand in lines, Enjoy life! We bring the market to your doorstep. We know how to create a solution that benefits all parties (Farmers, Consumers and us). By using technologies, the ecosystem will be built on transparency, trust and decentralization.   End consumers will gain lower prices, diversity and high-quality fresh food, traceability of products, sale promotions offered directly by Edziban Hub on behalf of producers and convenience of delivery.   Food and grocery products will get new, direct access to end consumers at reasonable prices plus the possibility to create effective sale promotions and consumers’ feedback to improve their offer.   And with the ongoing business model developments of the envisioned ecosystem, even more, widespread acceptance of the marketplace by the general community will follow.   The global grocery market is undergoing some of the most dramatic changes in history, partly due to internal factors, such as the changes in consumer behavior and new producers entering the market, and partly due to external factors such as technology, which opens the doors to new innovative models, thus disrupting the market.   To build the e-commerce platform and further develop the ecosystem we need your support.   Questions to consider:  What is your first impression? How would you go about putting together a unique food delivery service compared to companies trying to enter this market? 👉 Support us by liking our Facebook Page, follow our CEO on Twitter and then leave your comment below.   Looking forward to hearing your feedback.   Yours, The Edziban Hub team  
Project: Kaaba Yahaya | Rewards: 5000 YUP