3 ms·
Yes, that's what I mean, exactly. When you are building a business you want to know that you are basing it on a firm economic foundation that will last. Just
by fnid2 17y ago
Yes, that's what I mean, exactly. When you are building a business you want to know that you are basing it on a firm economic foundation that will last. Just like building a house. You want to use good wood that will last a long time.
Further consider that I can build many of the services myself. In a way, I'm paying someone else to save me the time in development and maintenance that it would cost to do myself. How do I measure those costs as a small business?
I'm also considering it from the POV of a provider. How do I structure a business that is profitable and long lasting? As an entrepreneur, I have many curiosities in areas that are not my traditional money making mechanisms. Software vs. Hardware for example. Not a lot of employers can afford to allow their employees to play around with robots, but as a small business, it's possible to do both and be profitable and even create some residual.
How do you attract customers by being that kind of business?
The question is doubly important for entrepreneurs. Perhaps more, but I am finding it increasingly more difficult to measure risk and reward and make predictions about longevity of organizations and services.