Managing Your Own Business

Discussion in 'Self Employment' started by Corie Henson, Jun 21, 2015.

  1. Corie Henson

    Corie Henson Very Well-Known Member

    Jun 11, 2015
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    As they say, create your own opportunity. Some retirees that I know have put up their own business to manage so they would have an occupation. One is a close friend who rented a place for his bakery. It needed little capital and had it going after a month of preparation. The business was doing good in the first few months until it hit some snags like problems with the employees, handling complaints and other unforeseen business problems. My friend closed shop and advised us of his failure.

    Come to think of it, a business is to be managed and if you do not have managerial skills then how do you expect it to succeed?
  2. Ruth Belena

    Ruth Belena Active Member

    Jan 28, 2015
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    I was a full-time manager before l left my last job to become self-employed. That was back in 1998, when I started working from home with my own business enterprise. I have never had any regrets about making the move from emloyment to self-employment.

    I agree that management skills are a big help, but even more important are marketing skills. You really need to know how to reach the people your business is designed to serve.

    I did have some previous knowledge of marketing, and had some training in it, but I also learned a lot more about it as I went on. I found out for myself what worked best and how to make the most of every opportunity to gain free publicity and build awareness of my brand.

    I would also add that being self-reliant and having confidence in your own abilities are big assets to anyone thinking of starting a business. .

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