Wanting to start a business, know nothing about it, where to start?

[Suleiman]

There is this start-up program going on at my university which I may join and I have watched some stuff by Tony Robbins and Gary Vaynerchuk recently who are big time entrepreneurs in this current era . I want to learn more about starting a business and entrepreneurship in general, but there's just so much content out there that I don't know where to start.

Before I say "yes I want to start a business" and just throw myself into the deep end, I actually want to gain some knowledge in this realm before simply diving in.

 

[www787]

What kind of business?

 

[Rayyman]

Paise darakht pe nahi bante

 

[sjahmed23]

A good place to start would be with a detailed business plan.

 

[Abdul]

Yeah, good luck with that.

 

[WhenSultansBowled]

You need a business plan:

This one should be a good start:

Answer all questions.
Here are some tips I'd give to myself if I were to time-travel in the past:

DO NOT LISTEN TO NAY-SAYERS.
You don't have to like your team-members. Just observe: are they competent? Their priorities aligning with yours? Do they show up on on time? <-- If answers to these three questions raise any red-flag: RUN AND SAVE YOUR TIME AND MONEY!

The most important tip of them all: BEFORE starting talk with customers/end users/target market and see will they buy/pay for your final product / services? ONLY PROCEED IF ANSWER IS A RESOUNDING YES.

Good luck and keep us updated [MENTION=136729]Suleiman[/MENTION]

(apologies for caps but I was trying to put emphasis there )

 

[big_gamer007]

Good luck..

 

[Madplayer]

Same here [MENTION=136729]Suleiman[/MENTION]. I don't know much about how to start a business (any business), where to begin and all.

Please share all the knowledge you gather here so that others like me can benefit from it.

 

[MenInG]

Be prepared for sleepless nights and some startup cash would be helpful

 

[adwords]

Crypto Currency Mining Business

Prerequisites:
(1)
You MUST believe in Crypto Currencies and its future.
(2)
If you can invest Indian Rupees 10 lacs (about US$ 15200 ) in buying computer hardware
You can also start from Rs 5 lacs, but u can expect half profits
(3)
Access to cheap electricity (you will need about 5 KW to run 5 Mining Rigs)

For mining Bitcoin you need ASIC miners, for mining coins like Ethereum, Zcash etc you just need simple computer hardware (more specifically - Graphic Cards)
Build Crypto Mining Rigs and start mining.

Rs 10 lacs can build 5 mining rigs (with 6 Graphics cards per mining rig) with following computer hardware

> 30 pieces of computer graphic cards "Sapphire Radeon RXX 570" OR "Nvidia 1060"
> 5 Motherboards with 5 CPUs
> 5 1000 watt each powersupply
> RAM, 5 harddisk, 5 racks etc

5 mining rigs (with 30 Graphic cards) running 24x7 currently can make you $50 to $60 a day (around $1800 a month)
see http://whattomine.com
You can mine Zcash, Ethereum and lots of other cryptos with it

Assuming, crypto currency remains the SAME for the next 7 months, you will recover back the hardware cost within 7 to 8 months
Assuming, the coins you are mining double in next 3 months, you will recover your hardware cost in say 4 months
Then after recovering your initial hardware costs, whatever you mine is your profit

If you feel bored after recovering your hardware cost, you can always sell your Graphic cards and computer hardware at EBAY etc, and recover atleast 70% of their costs.

Not a bad business to get into in 2018

Q.what is a 6 card mining rig?
A.just a computer with 6 graphic cards

 

[Madplayer]

Crypto Currency Mining Business

Prerequisites:
(1)
You MUST believe in Crypto Currencies and its future.
(2)
If you can invest Indian Rupees 10 lacs (about US$ 15200 ) in buying computer hardware
You can also start from Rs 5 lacs, but u can expect half profits
(3)
Access to cheap electricity (you will need about 5 KW to run 5 Mining Rigs)

For mining Bitcoin you need ASIC miners, for mining coins like Ethereum, Zcash etc you just need simple computer hardware (more specifically - Graphic Cards)
Build Crypto Mining Rigs and start mining.

Rs 10 lacs can build 5 mining rigs (with 6 Graphics cards per mining rig) with following computer hardware

> 30 pieces of computer graphic cards "Sapphire Radeon RXX 570" OR "Nvidia 1060"
> 5 Motherboards with 5 CPUs
> 5 1000 watt each powersupply
> RAM, 5 harddisk, 5 racks etc

5 mining rigs (with 30 Graphic cards) running 24x7 currently can make you $50 to $60 a day (around $1800 a month)
see http://whattomine.com
You can mine Zcash, Ethereum and lots of other cryptos with it

Assuming, crypto currency remains the SAME for the next 7 months, you will recover back the hardware cost within 7 to 8 months
Assuming, the coins you are mining double in next 3 months, you will recover your hardware cost in say 4 months
Then after recovering your initial hardware costs, whatever you mine is your profit

If you feel bored after recovering your hardware cost, you can always sell your Graphic cards and computer hardware at EBAY etc, and recover atleast 70% of their costs.

Not a bad business to get into in 2018

Q.what is a 6 card mining rig?
A.just a computer with 6 graphic cards
View attachment 77677

What does mining in this context mean?

 

[King-Misbah]

Be prepared for sleepless nights and some startup cash would be helpful

Started my business and had my first sleepless night today :/

With your own business; you need to understand that there is no stability. There will be good days and bad days. Lastly; things will not always be in your control. It's been a roller coaster for me until now. But motivation is unparalled.

 

[adwords]

You can always goto any crypto exchange and buy bitcoin
but if you dont want to do that, you can MINE them from the internet also

I will try to explain in a layman language

For obtaining crypto currencies you are basically solving a complex computer algorithm puzzle , and the blockchain rewards you by giving you crypto currency coins
For solving these complex algorithms, you need your computer processing power (more power the better)
and then you ARE REWARDED by coins
The number of crypto coins you obtain is proportional to the computing power you direct at solving at a particular puzzle
for your efforts you are rewarded by crypto coins, and when you direct your computers to solve that algorithms - it means you are MINING those crypto coins

 

[TQ89]

Started my business and had my first sleepless night today :/

With your own business; you need to understand that there is no stability. There will be good days and bad days. Lastly; things will not always be in your control. It's been a roller coaster for me until now. But motivation is unparalled.

What type of business do you run if you don't mind me asking?

 

[Suleiman]

You need a business plan:

This one should be a good start:

Answer all questions.
Here are some tips I'd give to myself if I were to time-travel in the past:

DO NOT LISTEN TO NAY-SAYERS.
You don't have to like your team-members. Just observe: are they competent? Their priorities aligning with yours? Do they show up on on time? <-- If answers to these three questions raise any red-flag: RUN AND SAVE YOUR TIME AND MONEY!

The most important tip of them all: BEFORE starting talk with customers/end users/target market and see will they buy/pay for your final product / services? ONLY PROCEED IF ANSWER IS A RESOUNDING YES.

Good luck and keep us updated [MENTION=136729]Suleiman[/MENTION]

(apologies for caps but I was trying to put emphasis there )

Appreciate the advice bro. There are some self development issues that I need to get in order as well if I'm going into this all in. Like not procrastinating. Seems like 50%-70% of this is just staying disciplined and accepting the fact that the first 5-8 years are going to be quite a grind.

There are some ideas that I have brainstormed tonight, and I'll definitely hit up a plan like you posted before just shuffling through them.

 

[Suleiman]

Same here [MENTION=136729]Suleiman[/MENTION]. I don't know much about how to start a business (any business), where to begin and all.

Please share all the knowledge you gather here so that others like me can benefit from it.

Sure thing. I'll just tag you in the future if I find anything good.

Was going through this really good visual of how to make a start in digital media: https://medium.com/@garyvee/how-to-start-cbde0a1de463

idk if it's a field that interests you as well.