The First Step – A Sound Business Idea

According to the general and colloquial understanding of the word ‘business’; it’s an income based on the sale of a commodity for money. Since ages in history, when gold and silver had earned their value; any ‘sale’ is business. People however, often forget to grasp the role of services as an object of commerce. When an individual has a skill or talent that’s usable by another in some way, there’s a market for it; the sustainability of the ‘product’ here, is however a question of survey and contextual situation.

A soldier is not a businessman, he is a serviceman; on the other hand, the serviceman independently selling his services as a personal security personnel or bodyguard can be called a businessman. The example here can be simplified in understanding that a soldier when dismissed, discharged or sedentary in anyway, ceases to be a ‘soldier’ for his service is absent. A bodyguard selling his service, on the other hand will remain free to selling his service to whichever client is bidding higher. With this view of service as a commodity clarified, I generally put it to you as any service can be the base of your business; a lawyer, doctor, mechanic, technician, software programmer or mason; the service industry has always been more demanding and demanded than the basic sale of a manufactured or artistic objects.

The idea that a talent or skill can be harvested as a business principle depends on the requirements or call for the service. A person with a talent of repairing fridges for example, has a commercial value to his skill. An artist whose paintings or sculpture sells; is also a businessman; but his art is his product and the creation of the object to sell is his service. A person who’s basing a business on service has a number of advantages.

The first omnipresent advantage is the reduction in capital; with ‘yourself’ being the commodity, there’s hardly much investment to pour in. The second notable positivity is the independence from external factors. If the manufacturer selling you the product for a fixed rate shuts down, or hikes prices; your selling will be proportionally affected. Business can hardly ever be lost in selling services; unless competition is better or inefficiencies and setbacks hold the reins of performance. For the business selling a product they don’t manufacture; however, it’s a matter of various factors like inflation and supply to keep up with the demand and a constant rush for client capture. In the sense, a service renderer is sought out by the client, they only need to publicize their presence and skill; with of course offering a bargain price tag for attracting clients.

When selling any skill or object, a business venture has to first be assessed on marketability. A special talent you possess with no buyers, or no sustainable demand renders in unsalable. An advantage of service based endeavors is the fact that the market may fluctuate, but rarely ever disappears; a skill may need revision and updating to contemporary market situations; but the call for the service rarely ever disappears. A commodity, however, can become obsolete while stocks are still piled high in the store or the product may be declared a bad buy. In a situation as such, the business selling the product that has lost market will invariably lose money and time in strategizing and executing a comeback.

There is a further key note on using services as product. There is an option of seasonal or part-time work when a service is involved more effectively than a commodity. A product’s demands depend on buyer moods and requirements. At times the call for a certain object may sky rocket, or hit the pebbles hard. A seller of goods has to be consistent and constant with managing the market’s dynamics against his client’s requirements. A service seller on the other hand has an option. People requiring their air-conditioner fixed will usually call you before spring hits. A ski-instructor will have a seasonal demand as well, for his ‘product’ of tutorship has a seasonal attitude. This seasonal or part-timing habit is also quite essential for market tests. With testing your business using a manufactured object; there’s a possibility of facing loss.

When analyzing a market with your skill, your investment is considerably lower. Also, to note, about part-timing; your current salary check could stay till your business develops enough. The advantage of service over goods as the backbone of your commercial venture is quite uneven; to be sure of starting off with a commodity, make sure you’ve made alternative backups and plans for financial crisis situations.

Concluding this topic, do take into consideration the factor of your business ‘idea’ before planning things out. The play may be misconceived by many that services sell for sure; that’d be grossly wrong. The entire advantage-crux factor is based upon what the public requires or desires. Service industry can mutate in different ways. A business based on others’ service as the product can also be considered; like a teachers’ bureau or a maid-service company providing service to clients and clients to labor. The possibilities of business do depend on product; but not solely. Bringing business to a service provider can itself be a paying service. The rules and integral principles of business are entwisted in complex relationships too vast to cover in short. Be judgmental; be vigilant, resourceful and be innovative.