All of us have business ideas waiting to materialize.
Some have been successful and put into execution. Some remain an idea.
Some failed at first try, some got the beginner’s luck.
But in essense, starting a business always equate to risk. And how much risk involved depends highly on how big you want your business to grow.
It is easy to get caught up with the idea of success, of growing big so we either go all-in or go home.
And that’s the normal mistake that newbie entrepreneurs make. Just like I did.
I planned on starting an eCommerce business with huge investment on inventory. In my mind, if I am able to have enough supply, then I can easily create the demand. That in terms of scalability, it is easy to manage with good enough supply.
And that’s where the problem lies. Create the demand first then create the supply second, not the other way around.
Because through it, it is highly likely that it would result to a shortage than a surplus which is a good problem to have. But if you have a surplus, then that’s automatically money down the drain.
In the end, it all comes down to simple economics and the law of supply and demand.
It’s always good to think big but always start small.
Any thoughts or ideas you’d like to share? Comment below or send me an email. I would love to hear from you!
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