RE: SEC-S20W2 | My Business Ideas |Capital Management
The business of buying and selling used motorbikes seems like a promising venture, especially with your approach of reselling even with a 2% profit margin. That’s honestly the best thing I’ve read today(not letting go of opportunities in search of big margins)
Let me share a story with you. Back in February 2024, when the crypto market was booming, I was sitting on substantial profits across several projects. However, I kept delaying my decisions, and eventually, all those profits disappeared. Since I don’t engage in futures trading and only trade on the spot market, I still hold onto my assets, but the immense profits I once had are gone for the time being.
You also mentioned the Suzuki Jimny and talked about small profits but fast sales. What’s that all about? Did you use to sell cars around 2007?
I have a cousin who works for a company that sells cars from the UK, Japan, and other countries to buyers in Nigeria, Kenya, Indonesia, and similar markets. He acts as a dealer for the company.
COVID-19 was indeed tough for most business owners, but by the grace of Allah, I was among those whose businesses thrived during the pandemic. As you know, people tend to consume more honey during flu seasons, and since I had just started my honey business at that time, the profits I made were substantial, as I mentioned in my previous post.
I wish you the best of luck with your businesses. Are you only dealing in cars at the moment?
I switched to the used car buying and selling business in 2007, Jimny was my first car, initially I did not intend to resell it, because I bought the car for transportation during my mother's coronation check-up (now deceased).
However, it turned out that the used car business opportunity was more promising at that time, I sold it with a fairly large profit, then started buying other cars until now.
I am grateful that this business not only provides benefits for me, but is able to help my parents, for example renovating the house they live in and I am happy to be able to provide the best for them until they both die.
Crypto requires instinct and decision, a trader must have a target, for example with a percentage of the profit that has been obtained, 30 - 50% of the assets owned can be sold, the rest as a reserve when the selling value continues to increase.
USDT reserves as stable coins are important for traders, and I don't do it because I stopped a long time ago.