If we talk about business, we will also talk about the capital. No matter where the capital comes from (Our assets, investment, or loan), building a business needs capital.

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Capital gain by USA Today

Capital will be the base of our business and it should grow over time. These days, I see many online shops down one by one due to being suppressed by a shop with a big capital in a marketplace. If we're talking about physical products, maybe we can still have the advantage of packaging, price, and how we interact with the product before it is sent to customers. There are also small local shops in my neighborhood that can sell his items while there's a supermarket around 100 meters from the shop. How did they manage to do that? Price? No, it's higher than the supermarket. They focused on service rather than products.

Small local shop by Alamy

From my viewpoint, if we want to beat a bigger enemy, we need at least one advantage such as price or service. How about quality? Sometimes customers don't see a quality depending on our market target. Small local shops have the advantage of service (interaction with customers) rather than a supermarket's service (Comfy place with fast transactions). While price is one of the choices, I don't think it's necessary to explain it as it's just a battle of the cheapest.

Waiter and Waitress by Jobstreet

What's the hardest part of making a business? If we're in a business that:

1. All products are the same in quality no matter what happens
2. All products have a based price and we can't sell below that to attract people
3. All products have the same price when we buy them in bulk or not from the official seller.

Is there a business like that? Of course, it's a digital product like I sell. Game vouchers and game top-ups have all aspects that are hard to battle with a bigger enemy. With more capital, sometimes bigger shops or companies can push the profit as low as possible to get more traffic. No traffic? Sell it at the same price that they get from the official seller. Official sellers usually just do transactions with a shop or company (B2B method).

Then, how to battle with a big enemy? For me, testing them and using the disadvantage of our enemy as our advantage. Services of course a key to handling that. I found the flaw that they are not responding (no customer service) at a time in 24 hours. While their websites or shops are working 24 hours, customer service isn't 24 hours. I don't have a good sweet talk, but I do have a good advice talk and I can cover the service time of no customer service at night (Still open at night time). Well, my method only works for online shops. No matter how big the enemy sometimes they have a flaw or a disadvantage to let us become our opportunity. Learning the opponent is a good way rather than ranting and quitting. Tbh, I just think someone who closes the shop with reason can't beat the bigger one is like they are opening a shop just for fun. No one is perfect. There should be a flaw or a hole that we can exploit as a business owner. It's a failure of a businessman when we don't want to learn anymore 🙏.

Have a nice day everyone!

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The #LarryIsAlive contest

Tuesday, May 28, 2024

Leadsleap + TrafficAdBar + FreeAdvertisingForYou + InfinityTrafficBoost

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