When I was growing up in the 50's and 60's, my grandfather on my dad's side owned one of a few grocery stores in a small town called Cayey, Puerto Rico. I used to go visit him with my parents and help him out at the store every now and then. My grandfather never graduated from High School, yet some of his children did and went on to own businesses of their own, like myself. So I learned early on that in order to succeed in the business world, you don't need a college degree, nor a high school diploma. Instead, I learned by observing my grandfather that if you watch what people need, that there might be a business opportunity. You just have to apply some common sense, test the market or idea, treat people with respect and dignity, ask for feedback, and you just might create a "nitch" in your area. I don't ever recall my grandfather talking about going to meet with his accountant (cause he kept his own records on a notebook and the money at his house and bank later on). Nor did I ever heard him talking about consulting with any attorney to buy a property of expanding any of them.
Of course you'll have some peaks and valleys on the course of testing your idea, but the whole business concept is to minimize the risk while maximizing your profit. And, that's where more advance knowledge come in place. Back then, you didn't have so much government intervention (not that is bad), meaning restrictions that could impede the launch of a great business opportunity. This is where, sometimes, it can get complicated. We can't ignore that our population has grown exponentially, as well as technology.
Back in the days, there were no phones, or computers to keep us in "contact" with the "world". We relied on word of mouth, radio, or local print media to advertise. We watched the news at the theater in "black and white" just before the movie started. Almost everyone new each other in the neighborhood, since transportation was limited to the more fortunate. Competition was limited to the local market, since most of your shopping was done within walking distance. You new what your competitor was doing, because your customers told you. So you made adjustments to your price in order to be more competitive. Now days, just about everyone goes to the Internet for information, forcing today's business owners to be aware of market trends and analysis. I agree, it's a lot tougher to make it in the business world now days, than back then. Yet, I still say, nothing or no one can stop you from putting together a plan (your ideas in a written form) to be launched at the precise time. And, who knows, you may be the next millionaire. But, it must be done right.
Back in the days life was much simpler than today. We complicated the way we think about business. So much for the stock market and others. But, there's hope. Believe it or not, there are still business opportunities you can jump on with little equipment or money. Ask anyone that was born broke and made millions of dollars by working hard and applying above simple rules. There are thousands of those examples, and you could be the next one.
We will be covering basic and intermediate business tools needed to be a successful business owner by doing things right, minimizing your risk, and maximizing your profit margin by utilizing your God given talents and common sense, on my following postings. You can't eat an elephant all at once, only bits of pieces at a time. Stay in touch until then, and please let me know what you think of this posting and the many to come, as well as what you would like me to cover next. Until then, may God bless you.
