1. «High resolution»
Here we are talking about your “resolution” in this niche, that is, your level of understanding, your experience, knowledge. For example, if you are all my adult life fond of paragliding, skydiving and other air-extreme things, it is clear that your permission in this area is great, in other words, you are “in the subject.” Accordingly, it will be much easier for you to open an online store of paragliders than an online store of dry mixes for baking.
2. “The suffering crowd»
People need your product. They want it. The statistics of Yandex (http://wordstat.yandex.ru/) many queries on this topic, download the and ask. It is very difficult to sell what people do not know yet. You can, but it is difficult, and it is better not to make such a product the basis of your first business. Continue reading
1. Reinvest revenue
When you make your first big money, you’re tempted to spend it. Not do this. You better put it in a business that you think is profitable. I learned that early in high school. My friend and I bought a used pinball machine and installed it in the Barber shop. The money we have not spent, as would have done in our place ordinary teenagers, and began to buy other machines. By the age of 26, I had already $174,000, which is $1.4 million for modern money
2. Be ready to be different
Don’t make decisions based on what others say. When I started to manage money, having collected from several investors $100 000, I was called a crank and predicted me a failure. Continue reading