I have chosen the topic intentionally for my respected Readers, to share my ideas, thoughts and conceptual design developed in my mind regarding the selected topic above, as I am of the opinion that somebody might agree and accept the conceptual design and might get some financial benefit. I have already started working on the idea and am moving ahead smoothly and successfully.
I will straight away start with the idea without wasting time. I would share my experience as how I started and did it. I will share my practical exercise step-wise and lastly the benefits of Small Scale Investments. As per my conceptual design, (if someone is interested to adopt/ follow) one has to start from his savings, as a first step, locate / identify how much money you have in your savings?
As the second step, keeping in mind your savings, identify any small scale industry or business, as a third step start negotiating with people and experts who are already working or have invested in that industry/ business, since you have no experience therefore the negotiation will play a vital role in your successful start. Keep in mind your savings and do not invest all your savings in the beginning, a good businessman/ businesswomen always keeps the LOSS aspect of business in mind (No Risk No Game), be mentally prepared for any situation (Profit/ Loss). The profit does not disturb your mind while the loss does, so mental preparedness is essential.
Here I will not name any industry or business because it depends on your identification and locating of any industry or business. Now continuing on the above step, after getting a good amount of information from experts of the field then start investing with a small amount, at this point patience is extremely compulsory, do not rush even if you are experiencing the profit or do not quit even if you are experiencing loss, be cool and calm because slow and steady wins the race.
As a next step, after the investment get it continued and wait to see the results, definitely your industry/ business will come up with three outcomes, a) Experiencing Profit b) Experiencing Loss and c) No profit/ No Loss. Your negotiation with people and experts has already informed you about the three aspects as well as about how much time the investment takes to get you with any of the three results.
So after the specified time (as per experts’ views) you will get one result out of the three, suppose the business has started resulting in profit then as the next step, keep the principle amount revolve in the industry/ business, suppose your profit is 20% of your invested principle amount, invest 10% of your profit in the industry/ business again for further investment opportunities and save the other 10%. Assume that you have No Profit No Loss then what you have to do is that you have to move in the market again, (keep in mind that such situation means that your business/ industry location or audience is not appropriate for your product) so this time you will have to focus on proper location or appropriate audience therefore you have to meet people and experts again to discover suitable location or appropriate audience.
After getting it done try to get your product to the perfect audience or proper location, if you get ahead you will definitely see the change which will result in success. Now if you come across the situation that you are experiencing loss, be assured that it has three major reasons, 1. Your investment was less comparing to the scale of business (which notifies lack of accurate planning after negotiations) or 2. The rate of your product differs from the market rates so you have to revisit your products price and 3. You might have mismanaged at some point, then reflect on your management and find out the fault and remove it. The effort will definitely change in positive outcome.
Now let me highlight some important benefits of Small Scale Investment, the significant profit is that in small scale investment, you don’t have to pay large amount of Taxes and some small scale investments get Tax Rebates as well, secondly, a small scale investment provides more opportunities for consistent investment, you can maintain Quality which will result in expansion of production, small scale investment is cost efficient, you have full control on your business, you can take quick decisions and above all suppose if you face complete loss in the business/ industry it does not demolish or destroy your capacity. I have already started one and faced the challenge of No Profit/ No Loss situation and now I am moving ahead towards SUCCESS.