Open a profitable business: how long is a business. Part One

October 29, 2010 | Doing business

One thing that differentiates many successful ideas with each other, is how many is the duration of a business.

That is, the time when our project, our company through the business formula that has brought us success, we can earn good money and to remain winning in a particular historical moment.

Ideas of success: the meteors and the durable businesses.

For those working in new technologies (Internet, etc..) will have noted the parable of a number of projects in no time they reached enormous value: think of some search engines within a few years came forward to many billions of dollars and then disappeared in almost nothing.

In the traditional sector, we think of the many prosperous textile factories for many years and then entered into crisis in the nineties. Or, in small businesses, we will remember the many clothing stores of business that until up twenty years ago, were small but profitable, interesting, and then they entered into crisis with the expansion of large retailers and other commercial channels.

The examples are many and cover all sectors.

Start a successful business: the competitive advantage

The advantage that a new company has over its competitors, it should be maximized.

Firstly, because the market does not provide blank spaces and if we are not able to fill them, someone else (a new competitor), might come to do and to go to compete with us in other segments.

This, in markets that are increasingly more open, like the present (than the past), implies that the competitive advantage that a company has over potential competitors (in any field), in time, has fallen drastically.

This point that many entrepreneurs underestimate during the stage of preparing your business plan, it is instead a factor to be taken well into consideration and should also be compared with the investments that we must support for the launch of our business and the payback of these investments will, in many cases, subject to tighter times.

The risk is to invest too much respect to a certain business that we want to develop or provide too long to start a scheme of our business and all this without considering that the competition (sometimes with more resources), may recover quickly and impede us to exploit our advantage.

Similar examples, we find them in all areas: setting up of operations in new technologies, opening of traditional activities, ideas, etc. ..

Meet your next episode.

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