Club5050\\Which business to start?\\Regards By irfan20\\
Which business to start?
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You can find more information about "Entrepreneurship" in Pakistan on SMEDA's website. The most special thing (which I noticed) on SMEDA's website is the pre-feasibility reports of some projects. Be sure to read them. In my opinion, studying a pre-feasibility report can go a long way in helping you prepare a business plan for yourself or further refine a pre-prepared plan.
Which business to start with less capital?
You should start your own home-based business tomorrow and very little start up cost. But the problem is that where there is less capital, there is less profit. For example, many small businesses can be started with less than fifty thousand. But it can only earn seven to eight thousand rupees a month. You should start your own home-based business tomorrow and very little start up cost.
Eighteen years ago today, when I decided on entrepreneurship, after much research, I came to the conclusion that the field of services is better for me. Your opinion may differ from mine, but the greatest advantage of this sector is that you can start your own business and only a few thousand rupees.
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Most of the successful IT professionals were initially from this field. It has a very high rate of return (compared to other sectors). IT professionals, doctors, lawyers, architects, builders, consultants, teachers, psychologists, artists, etc. are associated with the services sector. That is, their 'business' is to offer their services to society.
If you lack capital but you have passion, then in my opinion the service sector is still the best. With less capital you can start your own business in any of the services sector.
Difficulties and Possible Solutions in Starting an Entrepreneurship:
Every job in the world has some difficulties. Entrepreneurship also faces many challenges. There are three things I think are essential to any business
1: Plan
2: Skills
3: Capital
I don't think there is any need for planning and capital, but there is a difference between skills and education. According to one definition of education, "a series of methods of knowledge is called education." Now the knowledge you need to be able to work can be obtained from a formal education institution, or in some other informal way.
Some people think that education is essential for business, but I think that skills are essential or basic condition for business instead of education. It is true that with modern and effective education one can acquire more skills in less time but many successful business people in the Pakistani and international market have acquired business skills in an informal way other than a college / university.People who have a mind to start their own business usually have such difficulties.
There is capital and planning but not skill
In this case, you can hire an expert as a participant or you can be hired or you can master the art yourself. A friend of mine took a three-month course from his technical college for his UPS business while studying M.Phil in Economics. He thought that for your business, you must come to do all the work "yourself". Today, his company is one of the top UPS and solar energy companies in Pakistan.
There is skill and planning, but not capital
You don't have to have a lot of money to put your idea into practice. If you have a good idea, you can share it with another person. They may be willing to invest in your project in exchange for a share or a share in the profits.
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In addition, many government agencies / private banks are willing to lend for "viable projects". Whether the loan is available or not, what will be the interest rate on it? Where will the guarantee come from? There are many such problems. But if a person or company is asked to invest in private rather than banks or financing institutions, the matter is relatively easy.
There is skill and capital but no plan.
Most experts suggest that you contact a planner. Many individuals / companies in the market can help you plan. You can also find the person you want by advertising in a newspaper or online.
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It is important to keep in mind that not every person has the same circumstances and events, so these things are more or less expected, but overall these things are very important to start your own business. And most importantly, just as a career in a job does not happen overnight but requires years of hard work, so too should your work, no matter how creative, be in a hurry to reap the financial benefits.
Conclusion
If you have all these things and enough patience, no one can stop you from being your own boss.Take things in stride and try not focus too much on the problem. Maybe this step will turn you from a job seeker to a job creator?
Regards By