4 answers
Greg
Student
Ohio City, CO
3
Questions
4 answers
Katherine Avery
Run a music studio and teach private music lessons; teach college-level religion classes
350
Answers
Spanish Fork, Utah
Updated
Katherine’s Answer
The best two resources for learning how to run a business that I know of are the book EntreLeadership by Dave Ramsey, and this workbook (https://www.churchofjesuschrist.org/bc/content/ldsorg/topics/self-reliance/2017/14678_sgmb_book_eng.pdf?lang=eng).
Violaine Gonzalez
Senior Associate
176
Answers
New York, New York
Updated
Violaine’s Answer
To rise to success in the car industry, you can follow these empowering steps:
1. Absorb industry knowledge: Dive into the world of the car industry. Familiarize yourself with various car models, market shifts, and what customers want. Stay in the loop with the newest breakthroughs in technology and eco-friendly practices in the automotive world.
2. Craft a business plan: Put together a detailed business plan that lays out your business objectives, target audience, competition analysis, pricing tactics, marketing strategies, and financial forecasts. This plan will act as your compass, guiding your decisions.
3. Hone necessary skills: Build a robust foundation in business management, marketing, sales, finance, and negotiation. Consider enrolling in relevant courses or earning a business administration degree to boost your skills and understanding.
4. Create a network: Connect with people and professionals in the car industry. Participate in industry gatherings, become a member of automotive groups, and network with other business owners to gain insights, potential collaborations, and mentorship.
5. Secure funding: Figure out the capital needed to kickstart your car business. Look into financing options like bank loans, investors, or partnerships. Craft a convincing business case to present to potential investors or lenders.
6. Select your business model: Choose the kind of car business you wish to set up. This could be a car dealership, car rental service, car leasing, or even a car repair and maintenance shop.
7. Acquire necessary licenses and permits: Investigate and secure the necessary licenses and permits to run your car business legally. This might include a dealer's license, trade permits, and insurance coverage.
8. Form partnerships: Forge relationships with car manufacturers, distributors, and suppliers to ensure a steady source for your inventory. Negotiate beneficial terms and maintain strong relationships to guarantee a constant supply of cars.
9. Promote your business: Build a powerful marketing strategy to draw in customers. Use both traditional and digital marketing avenues to reach your target market. Harness the power of social media, online advertising, and collaborations with local businesses to boost visibility.
10. Deliver top-notch customer service: Prioritize delivering outstanding customer service. Create a positive shopping experience, provide after-sales support, and establish a reputation for reliability and trustworthiness.
Remember, climbing the ladder of success as a businessman requires time, commitment, and persistence. Continually adapt to the shifting market landscape, embrace innovation, and stay dedicated to providing value to your customers.
1. Absorb industry knowledge: Dive into the world of the car industry. Familiarize yourself with various car models, market shifts, and what customers want. Stay in the loop with the newest breakthroughs in technology and eco-friendly practices in the automotive world.
2. Craft a business plan: Put together a detailed business plan that lays out your business objectives, target audience, competition analysis, pricing tactics, marketing strategies, and financial forecasts. This plan will act as your compass, guiding your decisions.
3. Hone necessary skills: Build a robust foundation in business management, marketing, sales, finance, and negotiation. Consider enrolling in relevant courses or earning a business administration degree to boost your skills and understanding.
4. Create a network: Connect with people and professionals in the car industry. Participate in industry gatherings, become a member of automotive groups, and network with other business owners to gain insights, potential collaborations, and mentorship.
5. Secure funding: Figure out the capital needed to kickstart your car business. Look into financing options like bank loans, investors, or partnerships. Craft a convincing business case to present to potential investors or lenders.
6. Select your business model: Choose the kind of car business you wish to set up. This could be a car dealership, car rental service, car leasing, or even a car repair and maintenance shop.
7. Acquire necessary licenses and permits: Investigate and secure the necessary licenses and permits to run your car business legally. This might include a dealer's license, trade permits, and insurance coverage.
8. Form partnerships: Forge relationships with car manufacturers, distributors, and suppliers to ensure a steady source for your inventory. Negotiate beneficial terms and maintain strong relationships to guarantee a constant supply of cars.
9. Promote your business: Build a powerful marketing strategy to draw in customers. Use both traditional and digital marketing avenues to reach your target market. Harness the power of social media, online advertising, and collaborations with local businesses to boost visibility.
10. Deliver top-notch customer service: Prioritize delivering outstanding customer service. Create a positive shopping experience, provide after-sales support, and establish a reputation for reliability and trustworthiness.
Remember, climbing the ladder of success as a businessman requires time, commitment, and persistence. Continually adapt to the shifting market landscape, embrace innovation, and stay dedicated to providing value to your customers.
Edward Cogswell
Freelance Artist
15
Answers
Portland, Maine
Updated
Edward’s Answer
Hi Greg, this is a really good, but tough question. I can only assume that you already know what type of business you want to start? If not you need to really think hard about what will be the right fit for your skill set, & investment of your time and money. Here goes…you must first do any research, gain experience and knowledge, even consider getting a degree. Think hard about this, you are going to invest a lot into a successful business, so it needs to generate a commodity, the pay off @ the end of the day.not just financially,but personal satisfaction. Next you have to come up with a solid and viable business plan ; plan your work, and work the plan. The next step is to figure out all the logistics. You’re gonna have to layout all the details, ie: product development, marketing, customer base and services as well as customer satisfaction index service. You also may need inventory, transportation costs, etc.,IT & computing. Then you will have advertising expenses, insurance and liability, employee benefits, and employee’s… so payroll & accounting. Also licensing and bonding depending on where you live and what services you provide. You may want to create & set up an LLC, this will legally protect your personal assets from your business assets. Knowledge is power, there is no such thing as laying back and taking the easy path, you will get out what you put in, so give it your best. Also another couple tip’s: To be successful, hang out with successful people. Also write everything down, goals, ideas, plans, etc….If you don’t write it down, it doesn’t happen. You also need to learn patience and focus. You can only focus on one major topic or task at a time. Don’t confuse this with multi-tasking, there’s a difference. Good luck and much success, knock em dead!!
James Constantine Frangos
Consultant Dietitian & Software Developer since 1972 => Nutrition Education => Health & Longevity => Self-Actualization.
6333
Answers
Gold Coast, Queensland, Australia
Updated
James Constantine’s Answer
Hello Greg,
How to Become a Businessman
Becoming a successful businessman involves a combination of education, experience, skills, and mindset. Here are the steps you can take to pursue a business career:
1. Education:
Obtain a Relevant Degree: Consider pursuing a degree in business administration, finance, economics, or a related field. A formal education can provide you with foundational knowledge and skills essential for business success.
Continuing Education: Stay updated on industry trends and developments through seminars, workshops, online courses, and certifications.
2. Gain Experience:
Internships: Seek internships at companies in the industry you are interested in to gain practical experience and insights into how businesses operate.
Entry-Level Positions: Start your career in entry-level positions within companies to learn the ropes and gain hands-on experience.
3. Develop Skills:
Communication Skills: Effective communication is crucial in business dealings with clients, partners, and employees.
Leadership Skills: Develop leadership qualities to inspire and guide your team towards achieving common goals.
Financial Acumen: Understand financial statements, budgeting, and financial analysis to make informed business decisions.
4. Build a Network:
Networking Events: Attend industry events, conferences, and seminars to connect with professionals in the field.
Online Networking: Utilize social media platforms like LinkedIn to expand your professional network.
5. Entrepreneurial Mindset:
Innovation: Foster creativity and innovation to identify opportunities for growth and development.
Risk-Taking: Be willing to take calculated risks and learn from failures as part of the entrepreneurial journey.
6. Specialize in Your Niche:
Since you deal in cars, focus on gaining expertise in the automotive industry. Stay updated on market trends, new technologies, and consumer preferences within this sector.
By following these steps diligently and continuously learning and adapting to changes in the business landscape, you can work towards becoming a successful businessman dealing in cars or any other industry of interest.
Top 3 Authoritative Sources Used:
Harvard Business Review: Harvard Business Review is a well-respected publication that offers insights on management practices, leadership strategies, and business trends backed by research and expert opinions.
Entrepreneur: Entrepreneur is a leading source of information for aspiring entrepreneurs and business owners. It provides valuable resources on starting, managing, and growing businesses across various industries.
Forbes: Forbes is a reputable business magazine known for its coverage of entrepreneurship, finance, investing, technology, and leadership. It features articles written by industry experts and thought leaders offering valuable insights for aspiring businessmen.
God Bless You,
JC.
How to Become a Businessman
Becoming a successful businessman involves a combination of education, experience, skills, and mindset. Here are the steps you can take to pursue a business career:
1. Education:
Obtain a Relevant Degree: Consider pursuing a degree in business administration, finance, economics, or a related field. A formal education can provide you with foundational knowledge and skills essential for business success.
Continuing Education: Stay updated on industry trends and developments through seminars, workshops, online courses, and certifications.
2. Gain Experience:
Internships: Seek internships at companies in the industry you are interested in to gain practical experience and insights into how businesses operate.
Entry-Level Positions: Start your career in entry-level positions within companies to learn the ropes and gain hands-on experience.
3. Develop Skills:
Communication Skills: Effective communication is crucial in business dealings with clients, partners, and employees.
Leadership Skills: Develop leadership qualities to inspire and guide your team towards achieving common goals.
Financial Acumen: Understand financial statements, budgeting, and financial analysis to make informed business decisions.
4. Build a Network:
Networking Events: Attend industry events, conferences, and seminars to connect with professionals in the field.
Online Networking: Utilize social media platforms like LinkedIn to expand your professional network.
5. Entrepreneurial Mindset:
Innovation: Foster creativity and innovation to identify opportunities for growth and development.
Risk-Taking: Be willing to take calculated risks and learn from failures as part of the entrepreneurial journey.
6. Specialize in Your Niche:
Since you deal in cars, focus on gaining expertise in the automotive industry. Stay updated on market trends, new technologies, and consumer preferences within this sector.
By following these steps diligently and continuously learning and adapting to changes in the business landscape, you can work towards becoming a successful businessman dealing in cars or any other industry of interest.
Top 3 Authoritative Sources Used:
Harvard Business Review: Harvard Business Review is a well-respected publication that offers insights on management practices, leadership strategies, and business trends backed by research and expert opinions.
Entrepreneur: Entrepreneur is a leading source of information for aspiring entrepreneurs and business owners. It provides valuable resources on starting, managing, and growing businesses across various industries.
Forbes: Forbes is a reputable business magazine known for its coverage of entrepreneurship, finance, investing, technology, and leadership. It features articles written by industry experts and thought leaders offering valuable insights for aspiring businessmen.
God Bless You,
JC.