best business

djtjob

hi

what would be the best business to get into(most profit out of)

spongebob

porn or bathroom tiling

M

nahdoic

or porn bathroom tiling

don't go into a business for the money - nobody can predict the future - go after something you will enjoy doing - life is too short to do a job you hate just to make loadsa cash

IMHO!

BuffyBot

Originally posted by djtjob
hi

what would be the best business to get into(most profit out of)

One that no one has thought of before. The best ideas normally those which fill a gap that is not served by another business in the same market.

Pataman

Plumber, the phucker who did my house was on €250 cash per day, and he was a friend. At on stage last year there was an article in the paper which stated that plumbers made as much as heart surgeons. I think I'll call Maurice Nelligan the next time my jacks is blocked

Victor

Originally posted by l3rian
how would one become a plumber?

4 year apprenticeship - try www.fas.ie

You should be able to tell the difference between hot and cold, but it's not an absolute requirement.

spongebob

The difference between gravity feed vs rising main is important too Victor , /me is **** scared of messing with the rising main although I did install a grit filter on it last year ...under the drive outside.

M

Specky

One that no one has thought of before. The best ideas normally those which fill a gap that is not served by another business in the same market.

You'll also find that often the company that breaks the ground on a new market will not be the one that makes the most money.

Breaking new markets is costly and painful.

Identifying an opportunity to exploit an immediate need will get you the cash you need in order to do more esoteric work another day.

Metaphorically speaking sell umbrellas on a rainy day. It consumes a readily available commodity, it requires little skill and it delivers cash in your hand.

don't go into a business for the money - nobody can predict the future - go after something you will enjoy doing - life is too short to do a job you hate just to make loadsa cash

I strongly disagree. Ideally you should try to do something that you enjoy that also makes lots of money. Sure, it's nice to do something you like but at the end of the day you should go in to business to make money, if this is not the item at the top of your motivation tree then I suggest you will probably fail. If you do something that you just enjoy then you will inevitably find yourself working long hours. Why not do something that makes you lots of money working 9to5 so you can spend it on what you enjoy for the rest of your life?

Why do you want to go into business? Most people I know who are in business for themselves (me included) have done it because they already have the idea/product and are seeking a way of benefiting from it. If you don't have an idea for a business then it would seem you are just enamoured of the "idea" of being in business for yourself. If that is the case then I think maybe you are living under some dilusion of what it's actually like.

There are easier ways of making a living. There are speedier ways of making large quantities of money. There are much less stressful and far less risky ways of spending your life...a life that you only have one of.

Lots of people go into business and are succesful but considerably more people go into business and end up throwing in the towel or end up failing having thrown away a lot of their own money and wasted a lot of unrecoverable time.

It is not glamorous.

If you want a relatively low risk route to self employment though learn a trade. It will be a long time before the world gets over its need for plasterers, electricians and plumbers...and if some terrible disaster does ever reek havoc on our society you will be considerably more valauable than a web developer or Java programmer.

Victor

Originally posted by Specky
I strongly disagree. Ideally you should try to do something that you enjoy that also makes lots of money. Sure, it's nice to do something you like but at the end of the day you should go in to business to make money, if this is not the item at the top of your motivation tree then I suggest you will probably fail. If you do something that you just enjoy then you will inevitably find yourself working long hours. Why not do something that makes you lots of money working 9to5 so you can spend it on what you enjoy for the rest of your life?

3 factors actually:
(a) money (factor time and other costs into this),
(b) you like it,
(c) you are good at it.

Specky

(c) you are good at it.

...well I'd consider that an optional extra. Have a look around, there are plenty of incompetants making plenty of money.

A product/service does not have to be the best for people to buy it.

Yes you have to have a competitive edge but that can be based on a million factors including things like location, availability, presentation and price none of which really have a direct correlation with how "good" your product/service is compared to the competition.

As a perfect example using these factors take McDonalds. I never go near the place but you have to admit they're making money. Their success is based on:

location - stuck everywhere there is a reasonable density of people
availability - fast food....ok, alegedly fast food, it actually is fast in other countries
presentation - they've identified a target audience and they market at these people quite effectively
price - you can get a burger and chips for the same price you can buy a dried up pre-made sambo in the newsagents.

I make the choice not to eat the processed garbage because I don't think their product is "good", but very obviously lots of other people disagree, hence the empire. Good business or bad business? Objectively you'd have to say good.

Victor

Originally posted by Specky
McDonalds...... I don't think their product is "good",

Actually there product is "good" (it isn't however a balanced diet). Their prodecures have been honed massively, such that despite their huge overheads they still produce a cheap product that competes all over the world.

Specky

I used the quotes around the word "good" for good reason. I prefer many other choices and hence in comparison to these other choices I do not consider their product "good".

Whether I like them or not is not part of the argument, as you clearly agree they are a successful company despite my feelings or those of others who share my view that in comparison to the other choices I can make in the high street their offering is not good.

McDonalds would be only one of a number of very well known multi-national success stories built on products that are not "good".

Microsoft would be another example.

The success of these companies serves only to illustrate my point that a company does not have to be "good" at what they offer in order to be successful.

McDonalds are good at brand penetration. They are good at distribution. They are not good at food, but that doesn't really matter because they're good at the other stuff.

Many would look at Microsoft (which also begins with an 'm'....) and present quite reasonable arguments for why they should not be considered "good" at operating systems. Hasn't stopped them achieving market dominance.

trap4

Specky, your post reminds me of a question I was once asked at a job interview -

Interviewer: "Could you make a better burger than you can buy at McDonalds?"

Me: "Yes!" (really I can )

Interviewer: "Yes, of course you can. But can you build a better system?"

Me: [stunned silence, or something like that]


As you've pointed out it's all about the system.


~~~~~~~~~~~~~~
-Jim.
http://eirepreneur.blogs.com

finnpark

Specky wrote:

You'll also find that often the company that breaks the ground on a new market will not be the one that makes the most money.

Breaking new markets is costly and painful.

Identifying an opportunity to exploit an immediate need will get you the cash you need in order to do more esoteric work another day.

Metaphorically speaking sell umbrellas on a rainy day. It consumes a readily available commodity, it requires little skill and it delivers cash in your hand.



I strongly disagree. Ideally you should try to do something that you enjoy that also makes lots of money. Sure, it's nice to do something you like but at the end of the day you should go in to business to make money, if this is not the item at the top of your motivation tree then I suggest you will probably fail. If you do something that you just enjoy then you will inevitably find yourself working long hours. Why not do something that makes you lots of money working 9to5 so you can spend it on what you enjoy for the rest of your life?

Why do you want to go into business? Most people I know who are in business for themselves (me included) have done it because they already have the idea/product and are seeking a way of benefiting from it. If you don't have an idea for a business then it would seem you are just enamoured of the "idea" of being in business for yourself. If that is the case then I think maybe you are living under some dilusion of what it's actually like.

There are easier ways of making a living. There are speedier ways of making large quantities of money. There are much less stressful and far less risky ways of spending your life...a life that you only have one of.

Lots of people go into business and are succesful but considerably more people go into business and end up throwing in the towel or end up failing having thrown away a lot of their own money and wasted a lot of unrecoverable time.

It is not glamorous.

If you want a relatively low risk route to self employment though learn a trade. It will be a long time before the world gets over its need for plasterers, electricians and plumbers...and if some terrible disaster does ever reek havoc on our society you will be considerably more valauable than a web developer or Java programmer.

Again, Specky has no life

damnyanks

Why are you following him around and saying that? Wouldnt it imply you have no life?

Specky

infatuation takes many forms...like a puppy rubbing up against your leg

finnpark

Yes