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+--- Thread: Want to Start a Business: Try Low Risk Business (/showthread.php?tid=622)
Want to Start a Business: Try Low Risk Business - NinjaTrader - 12-31-2023
When you're thinking about starting a business, it's a good idea to pick one with low risk. Some statistics say that around 20% of new businesses don't make it past 2 years, 45% fail within the first 5 years, and 65% close down within 10 years.
But don't let these numbers scare you away from starting your own business. Instead, use them as a guide to find out which 35% of businesses manage to survive beyond 10 years. Once you've decided on a business, make sure your idea solves a problem because businesses that solve problems tend to do well.
Ask yourself if your business idea passes the "rule of the thumb" test—does it solve a problem? To start a successful business, look for problems that others are facing and figure out how your business can solve them.
It's also important to be transparent about your company, hire the right people, and maintain high ethical standards. Consider adopting a sustainable business model for long-term success.
RE: Want to Start a Business: Try Low Risk Business - BusinessGuru - 02-08-2024
Explore service-based businesses like consulting, tutoring, or freelance writing, which require minimal overhead and can be started from home. Validate your idea through market research and start small to test the waters before scaling up. Embrace agility and adaptability to navigate uncertainties and optimize profitability.
RE: Want to Start a Business: Try Low Risk Business - Maria - 02-26-2024
online businesses such as e-commerce stores or affiliate marketing ventures can be low-risk options with the potential for high returns. Home-based businesses like childcare or pet sitting also offer low overhead and flexible schedules. These ventures allow entrepreneurs to test ideas with minimal financial risk