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hoisim · Newbie

Help to buy or start a small business, finance options?

bbphire · Member

Here is the problem. Running a business is about more than doing the job. You have the admin, yes, but you also have marketing, customer service and all sorts of other considerations. If you're buying a business without knowing what to do, you risk throwing good money after bad, and no one is going to finance you on that basis.

drekyee · Member

Really just wanted to know the options, the way and how business purchased and funded, who if anyone has experience or knowledge of on here. I've all my tools and equipment and some really good skills sitting here doing nothing. it wold be great if I could figure a way to put them to use. Buying a small established business seemed the best way to go

hoisim · Newbie

bbphire wrote:
Here is the problem. Running a business is about more than doing the job. You have the admin, yes, but you also have marketing, customer service and all sorts of other considerations. If you're buying a business without knowing what to do, you risk throwing good money after bad, and no one is going to finance you on that basis.

Sure there are things that will be new or I wont understand but I'm far from an idiot and I'd get my head around it. Its more my partners field and my father has been self employed for 40 years or so, I've plenty help for this.

juicemaker09 · Newbie

Don't even consider buying a business. You start from scratch and find a way offering services with your current setup and tools. You start small, find gaps in the market and fill them. It is not what you wanna do it is about what the market wants.

You start in your case with your partner generating leads on social media via advertising for you can be done free of charge pretty much and you do something with your tools. Mobile car scratch repair maybe? I don't know but your partner can test the market very easy with no risk for your money but utilizing what you got.

bbphire · Member

hoisim wrote:
Sure there are things that will be new or I wont understand but I'm far from an idiot and I'd get my head around it. Its more my partners field and my father has been self employed for 40 years or so, I've plenty help for this.

That what i heard from alot of new entrepreneur. We have to know that opening a business involves alot of risk especially if you invest big money in it. And opening a business without knowledge will likely to result you in a failure. Cases where new entrepreneur never research the market and planning to carry out their business.

bunnyfana · Newbie

My advice, find a side job. Dont make rash decisions and put all your money into something just because you have to do something, protect the money you have. From what you have said in your OP I would look for employment rather than going it alone, if you really really want to go it alone then you'll do what you have to do in your spare working week to get there

juicemaker09 · Newbie

bbphire wrote:
That what i heard from alot of new entrepreneur. We have to know that opening a business involves alot of risk especially if you invest big money in it. And opening a business without knowledge will likely to result you in a failure. Cases where new entrepreneur never research the market and planning to carry out their business.

I agree with this, even big business also need knowledge to make any decisions. As for me what i can say is that new business really need to know how to market and brand themself correctly, not just following other business blindly. So far what average business do is boost their ads without knowing that there is actually other way than just buying ads on internet. Personally i made this mistakes with my own company. Luckily i decided to go to masterclass from this marketing & branding guru Mr. Long Yun Siang.

hoisim · Newbie

juicemaker09 wrote:
I agree with this, even big business also need knowledge to make any decisions. As for me what i can say is that new business really need to know how to market and brand themself correctly, not just following other business blindly. So far what average business do is boost their ads without knowing that there is actually other way than just buying ads on internet. Personally i made this mistakes with my own company. Luckily i decided to go to masterclass from this marketing & branding guru Mr. Long Yun Siang.

Thats some insight. I think i probably need to learn a lot of things more. Does goes to class really works?

juicemaker09 · Newbie

hoisim wrote:
Thats some insight. I think i probably need to learn a lot of things more. Does goes to class really works?

In my experience yes. I was doing campaigns without seeing good returns. When i went to the class and consulted with the guru i noticed that there are definitely a lot of other alternatives that i can use for my campaign. That way have saved alot of campaign cost for my company. This is the class that i go to https://roar-point.com/marketing-branding-masterclass/

bbphire · Member

juicemaker09 wrote:
In my experience yes. I was doing campaigns without seeing good returns. When i went to the class and consulted with the guru i noticed that there are definitely a lot of other alternatives that i can use for my campaign. That way have saved alot of campaign cost for my company. This is the class that i go to https://roar-point.com/marketing-branding-masterclass/

I know about him too, he is one of the best marketing and branding master in malaysia lo, i know hes worked with big brands like Nestle, Aeon, Elba. Read some of his books like Lets Do This and Rethink your Marketing Questions and Answer, good content if u want to review your company marketing and branding. I am planning to go to the class too just need to find days for me. smile smile

juicemaker09 · Newbie

bbphire wrote:
I know about him too, he is one of the best marketing and branding master in malaysia lo, i know hes worked with big brands like Nestle, Aeon, Elba. Read some of his books like Lets Do This and Rethink your Marketing Questions and Answer, good content if u want to review your company marketing and branding. I am planning to go to the class too just need to find days for me.

Better go now since we can freely go anywhere bro.... the class is very comprehensible even for beginner. I made some acquaintances there some are new in the business, some of them not even in the business field, some of them are a business pro. The price is worth the content of the class.