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The ripple effect sends information far. Maybe this week is more of that entrepreneurial talk. Before diving into these entrepreneurial talks, I have been delving into reports concerning the Middle East war escalations. According to a conference speech from President Trump, ‘talks as concerning ceasefire, peace (it actually that open peace) and termable negotiations are ongoing. The question is, will this IRGC regime comply. Maybe an article for another day.
Heading back to daily businessing and entrepreneurship. Are you an entrepreneur or a wannabe entrepreneur? Or maybe you have someone into the entrepreneurial line that you feel you can add up some knowledge to improve him or her. Ok, this article will be of such help if you can take the needed time to read through.
My mentality in business changed (or maybe I should say upgraded) late last year and I am NOW thinking beyond. The backbone of a business is service or product rendering in exchange for money or whatever asset is in-between. This points to the fact that your business needs people (I am focusing on customers here) to help push this version.
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Who is a customer and who are your customers?. Ok, many can have a say here. How about, how large is your customer base? Ok, few may have a say from here. Some are still in the building phase while others have hit 50, 100, 200 and above depending on the natural and mostly precisely focused on the Small and Medium Scale entrepreneurs.
The next question is very tactical; ‘who knows you?’. Maybe you thought having a customer base of 500 was the big deal. Trust me, to some point, this big deal elapses. One entrepreneur focuses on a customer base of let's say 100 and stays in more profit than one who has 500. **There are many things to talk about here; brand is one of those. Nevertheless, we are going to take this ‘who knows you?’ to a global stance.
What you sell cheap in one place can be bought expensive somewhere else. I am not really sure about the cost of extracting crude, processing and selling but I came in contact with such a post on one of my social media emphasising how the Arabian Nations extract and refine oil cheap yet they are selling it expensive. As we speak, it is NOW above $100 per barrel.
So the interest in the entire oil business is ‘where they are selling’. Maybe you are gradually getting to what I meant by ‘who knows you’. Successful business is not actually about buyers or a huge customer base but sending it to where you will get lucrative pay.
And I keep on saying, a good entrepreneur should have his eyes on the global stage; this is where true profit is realised at ease if you will give it the needed time to understand the market.
To conclude, let me add, what is good somewhere can be much better if taken elsewhere. The world remains a place of Arbitrage if actually realized profit is your target. The strategy is simple; think outside the box.
This is an article covered by dani-EL; a broad niche writer. I write on faith, life facts and daily living, business and economics, small scale and daily businessing, cryptocurrency and technology. And yes, I do cover articles on financial education and investment updates. And note, if I happen to be a financial adviser to you, the TOP financial advice should be ‘DYOR’ (Do Your Own Research), I can't afford to break your heart.
