In my last blog I spoke about a good way to get started with a business. In this entry I would speak about one of the benefits of this type of start up. The first one is low financial risk. Its no secret that many start ups no matter how small require a certain amount of financial capital. However investing quickly into these business ventures can be disastrous.
People have been known to misread business and market trends which leads to failed businesses. Young entrepreneurs have also been known underestimate the financial costs and benefits that come with the services or products they offer. This is why a sort of organic growth is beneficial as it allows the entrepreneur to get first hand experience with the potential customers as well as the potential pit falls that might be unseen so far. This may help the business in one way or another. A possible outcome of this approach would be the realization that a slight change of the product is the difference between success and failure.
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