Tuesday, 17 January 2017
Choosing a business to invest in
Hello readers, today I will be writing about the right business to invest in. Hope you gain a thing or two from it.
Allah must be pleased with any business you want to start meaning it must be good for yourself, it must be good for others and it must be good for the community. You should invest in what you are passionate about as your business is going to be a part of your life, thus it must make you happy.
Someone that is passionate about customer services can invest in the telecommunication industry and someone that is also passionate about information technology can also invest in the telecommunication industry. Thus, as long as you can find your passion in an industry then you can invest in the industry. The aspect you are passionate about is what that will make you competitive in the business market.
You must also invest in an industry you understand. It could be an industry you have gained working experience from or a degree that focuses on the industry. In other words, you should look for your passion in an industry you understand. If you do not understand the industry your passion can best be served in then acquire the knowledge that will help you understand the industry.
Another factor to consider is the barrier to entry, is the industry easy to enter? Do the major competitors try to kill the competition? If the barrier to entry is high you could get a major competitor to provide you with a service, that way you would not be flushed out of the system.
That is all for today, thank you for reading this article. Keep checking out my blog regularly. Cheers!