Buying + Selling = Business
Do not let anybody fool you into thinking there is something more sophisticated about business. The whole process involved in any business transaction is simple. Bizarrely however, as simple as it is, some people are better at it than others. Some have created huge empires and made mega fortunes out of it.
Let’s break this down. There are different layers to business or entrepreneurship as it is perceived by us all, but if we drill it down to the core, from the major car dealer to the investment banks and oil companies to the neighbourhood coffee shop, one thing connects them, and this connection is the common thing they all share. They all buy and they all sell and they all do this to make a profit. That’s it! This is the essence of business – buying, selling and making profit.
Sometimes, during consultations, clients ask me what type (or kind) of business they should go into. Legitimate question if you ask me, but I give them the same answer. Buy (or produce) something then sell it for a profit.
Now, where it starts getting complicated is determining what it is you can buy or sell. This is when you now have to start conducting research into markets and products and competition etc.But the base principle remains the same. To start a business, you need to figure out what it is you can put out there to be sold in return for profit. An app? An invention? A novel? Yourself?
Products are not the only things that can be sold mind you; services too fall in this category. So, just in case you feel you have no product(s) to sell, you can sell a service – basically something you can offer others for a price.
While web surfing the other day, I came across a DSLR camera (one used by professionals) that had been reduced to £800 (roughly $1100) due to ongoing January sales by the company. Thing is, I was aware that most retailers sold the same camera for over £1200 ($1700) and the cheapest you could get it on Ebay was for £1000 ($1400).
Guess what I did? I bought the discounted camera, listed it on Ebay for £1000. It was snapped up instantly, making me a cool £200+. Now, that might not be much, but I had fulfilled the simple principle of business. I bought, I sold and I made profit. That is exactly what business is all about. Nothing complicated and nothing to attend college or a training course for. Anybody can do it, and anybody can be a master at it.
There are people out there who believe they can’t do business because they are ‘sure’ they don’t have the skills, the intellect or the support system to start one simply because there is a cloud of myth that surrounds business and entrepreneurship. I can understand if the passion isn’t there but entrepreneurship is one of the few careers that cut across gender, age and race. In my travels, I have come across old African women (and men) who have no formal education but make money simply by buying and selling.
If you have ever toyed with the idea of going into the business, but are wary for whatever reason, take this as your call to action. If you are interested in it, and understand the simple concept, you can do it.
I came across a blog post a week ago about a couple that made close to $700 just by clearing out their loft, and garage. They basically sold all their unwanted stuff and went smiling to the bank with $700. You don’t have to do the same thing, but look around you, there is ALWAYS a way to make money by selling SOMETHING.
You could be a stay at home mum with no time to carry out any complicated business stuff; you could buy, sell and make profit from the safety and comfort of your home. Thankfully we live in a digital age and ordering stuff off the web is just a click away. You could list your items on Ebay (factor in their charges), Gumtree and other classified platforms.
If you have the flexibility to move about, you could offer a service. That one thing you are very good at – website development, accounting or marketing. Hone your skills and advertise your services. What about Forex trading? I find people leaning towards foreign exchange and online trading recently. Be aware though that trading is as risky as it is profitable, so I will advice not to venture into it till you have taken some time out to learn about it, or you know and trust a professional that can help you trade.
Start this year by thinking outside the box and consider doing a bit of business, who knows, you might be a master at it which will be of huge benefit to you. Try it, you have nothing to lose.
Do you have anything else you can think of to buy and sell?