Is it feasible to think big for small business?

[Falcon29]

Let's say I wanted to open a shoe store. But I'm not a major, well known retailer. However, I'd like to include brand name shoes in my store. A wide selection for whatever has demand in my society. I only want limited supplies because that's all I can manage with small business. Will I get any decent rates?

This is just an example. The idea I have in mind is very nice in principle. Problem is advertising/acquiring products I need at manageable rate until the idea grows. And I mean very large selection of various products.

 

[Ahmed Jo]

Do you have a place to sell from? or a business license (this depends based on the state you live in)? or an amount of money to start with (something like at least 10,000 dollars)? I am thinking about starting a clothes manufacturing business in Jordan for big clothes companies. The return is known to be good but in order to acquire a warehouse and all that other stuff, I need to have a base amount to start with, something like 25,000 dollars or more. I'm planning on making that money here in the states and then going back.

 

[Providence]

Let's say I wanted to open a shoe store. But I'm not a major, well known retailer. However, I'd like to include brand name shoes in my store. A wide selection for whatever has demand in my society. I only want limited supplies because that's all I can manage with small business. Will I get any decent rates?

This is just an example. The idea I have in mind is very nice in principle. Problem is advertising/acquiring products I need at manageable rate until the idea grows. And I mean very large selection of various products.

I will talk in broad terms. Whenever you are running a business, you have to study the business model first and think carefully why this model is better/profitable than others.

If you have a lot of established players in the domain you are venturing you should never compete on the basis on which those established players are playing. They will ALWAYS beat you.

As for the decisions, I think it is always necessary to think big but act small. There is a nuance in it.

If you are a B2C model, then a lot of decisions could be tactical like seasonality of consumer pattern, how well discount offers take off and durability of your products etc. While making these decisions you need to think very short term and do with temporary measures. ( This would be the survival level )

But the growth of a business always will depend on how well you were able to perceive the potential growth opportunities . And to capture that, you will always have to think big else you will always miss the train.

As you said that your idea is very good/creative. Well one advice, a lot of times people think they had a 'aha' moment and they are destined to earn billions now which almost always never happens.

You success will depend solely on how well you executed your plan and that alone. You constantly perceive market changes and try to move from one winning position to another before others do so that when the day comes when "everyone" realises the market has changed, you are in the prime position.

You gave an example of a shoe but I am not sure what kind of business you will be operating for real so talked on very broad terms.

Good luck with your endeavor.

 

[Falcon29]

Do you have a place to sell from? or a business license (this depends based on the state you live in)? or an amount of money to start with (something like at least 10,000 dollars)? I am thinking about starting a clothes manufacturing business in Jordan for big clothes companies. The return is known to be good but in order to acquire a warehouse and all that other stuff, I need to have a base amount to start with, something like 25,000 dollars or more. I'm planning on making that money here in the states and then going back.

No I don't, I need to take care of that. My father advises me against my idea. He isn't really a believer in it. Maybe on my own after I graduate I'll get my base and think of an idea. I am young still but I am thinking of an potential side business for time being for purpose of getting myself more self independent in life. And by time I'm ready for marriage I should be set and able to take care of myself. I am doing a difficult major that still needs several years. Are you planning to move to Jordan? I know some things work in Arab nations. Especially car part containers in Dubai. In Jordan is it easier to sustain yourself? Less payments and decent income is more than enough? In Gaza you don't need much money to live okay life.

But I'm staying here for time being because pay is rewarding for my major. Unless I come up with business idea.

Btw good luck with your plan.

I will talk in broad terms. Whenever you are running a business, you have to study the business model first and think carefully why this model is better/profitable than others.

If you have a lot of established players in the domain you are venturing you should never compete on the basis on which those established players are playing. They will ALWAYS beat you.

As for the decisions, I think it is always necessary to think big but act small. There is a nuance in it.

If you are a B2C model, then a lot of decisions could be tactical like seasonality of consumer pattern, how well discount offers take off and durability of your products etc. While making these decisions you need to think very short term and do with temporary measures. ( This would be the survival level )

But the growth of a business always will depend on how well you were able to perceive the potential growth opportunities . And to capture that, you will always have to think big else you will always miss the train.

As you said that your idea is very good/creative. Well one advice, a lot of times people think they had a 'aha' moment and they are destined to earn billions now which almost always never happens.

You success will depend solely on how well you executed your plan and that alone. You constantly perceive market changes and try to move from one winning position to another before others do so that when the day comes when "everyone" realises the market has changed, you are in the prime position.

You gave an example of a shoe but I am not sure what kind of business you will be operating for real so talked on very broad terms.

Good luck with your endeavor.

Thanks for advice. You seem well experienced in this field. I still am a little hesitant going about it but small business seems like most realistic option for me.

My idea seems creative but then there is technical/insight aspect you detailed in your post.

So for example. My client John prefers a specific assortment of shoes for his yearly basis. He wants both Adidas/Nike pairs of sneakers for the year. He wants Jordan flip flops for summer/spring season. And he wants a pair of Timberland boots for winter season. Along with these, he would like nice assortment of sweaters per month. Also socks, add in underwears, combs, watches and necklaces. I would prepare a monthly package for him certain products that are useful for him while every 3 months give him the shoes/necklaces/watches. He would pay yearly payment of for example 340$. I do the rest for him and ship it to him on monthly basis.

This is example for clothes/fashion category. My category is something else along with wider assortment. And will consist of different benefits. Ultimate goal will to be to drag people away from retail shopping and bring them to my business for suitable yearly package for their interests which I manage. And they pay for almost like an magazine subscription.

 

[Musafir117]

What is your field/category you planning to pick, or it's a total new idea? Don't worry no one stole it but it's help others to advised you.

 

[Indos]

Start small first mate, online business can be a start. The soul of entrepreneur should be taken first.

There are corporate business too to catch...

 

[Providence]

Thanks for advice. You seem well experienced in this field. I still am a little hesitant going about it but small business seems like most realistic option for me.

My idea seems creative but then there is technical/insight aspect you detailed in your post.

So for example. My client John prefers a specific assortment of shoes for his yearly basis. He wants both Adidas/Nike pairs of sneakers for the year. He wants Jordan flip flops for summer/spring season. And he wants a pair of Timberland boots for winter season. Along with these, he would like nice assortment of sweaters per month. Also socks, add in underwears, combs, watches and necklaces. I would prepare a monthly package for him certain products that are useful for him while every 3 months give him the shoes/necklaces/watches. He would pay yearly payment of for example 340$. I do the rest for him and ship it to him on monthly basis.

This is example for clothes/fashion category. My category is something else along with wider assortment. And will consist of different benefits. Ultimate goal will to be to drag people away from retail shopping and bring them to my business for suitable yearly package for their interests which I manage. And they pay for almost like an magazine subscription.

I am too sleepy and busy with prep for my quiz which I have in a few hours to give you a structured response. Kindly remind me of this post if I don't respond within a day or two

 

[Providence]

So is your idea about opening a multi retail outlet of clothes and accessories ? and then maybe go on to make a chain if things go up n up ? Is that it ?