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What is a successful business man to you?

What makes a business man being successful?

  • Hi, lately I read questions here and in section "others-Africa-Middle East" like: how to open an orphanage in Africa, what will it cost to open a restaurant in Africa (forgot the country), how to open a business in Abu Dhabi or how to establish a travel agency. Without offending anybody I am just wondering how successful a "business man" can be not knowing the basics. Wouldn't it be logical to check out first the legal requirements to open a business in a foreign country? Would you get these kind of infos through Y/A? I would understand if these people ask questions about certain locations and how many kind of businesses would be in a certain areas and if there would be a demand for what ever they want to open up, etc., etc. But depending on Y/A to gather information regarding legal advices/requirements, and the basics in general? What's your opinion? Will these "business men" be successful by not knowing a thing? What would be your first steps in case you want to open a business in a foreign country? Thanks in advance for sharing your thoughts/opinions.

  • Answer:

    Hahaha, definitely yahoo answers is not the right place. I do not think experienced successful business men will refer to yahoo answers( Do they know that yahoo answers exist? lol). There are specialized sites and magazines that you can refer to, which will give you a clear idea about the growth rate, financial stability, legal and administrative issues in any country. Contacting the embassy of the country is a MUST, you can get all requirements to start any business, then you go deep into market analysis, market demand, then do surveys, hire a reputed specialized company to do a financial analysis, cash flow analysis, etc .... its a long process if a pro is planning it. I think those who ask in here might end up starting a small business, which does not require all that planning.

H at Yahoo! Answers Visit the source

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well, i think its wise for you to visit the country first before thinking about starting a business in such country....You have to consider lots of things...like the safety of the country in terms of security, the cost of starting the business there, the hassle of getting a business permit from the government of the country which i dont think its hard for an african country... Then the kind of business you want to open, the general need of such business in the location. I know lots of businesses you can invest in africa and make you money back within a short time that is if you want a profit making business...Orphanage homes is still good only if you deal with trustworthy people. Then you have to look into stability of electricity and population in need of your services...I think a good place to start from is Ghana for electricity stability or Nigeria for population and the country is rich and willing to spend the money if they have it than other countries in Africa....South Africa is a good place too.. Good lucks...

GreatUKnurse

Hey,no one is born knowing. It all starts from somewhere and asking a question on Y/A maybe the beginning of an enterprise :) so i think its ok to find answers wherever you can and what better way is there to find out then asking the locals? What makes a success full business man is an idea and an initiation.(at least this is what i think) i guess this is why you didn't answer my question on the same topic H :(

to give u an answer in short is a business man will be successfull if he is able to sell a product at a profit which means sales should be more then the cost of buying the product + the running expenses of the business.

sas35353535

It all depends on who you know and and if you have the right sources too, and also if you know the right things to say and how to sell your ideas too.

arj0754

You are right for the most part, but most people don't seem to put a lot of thought into their business. That said, why not open a business in a thriving environment like Abu Dhabi for example, when what you are doing isn't making that much money and/or you are working in a depressed environment. Jump on board the train while it's still going. Answers is an ok place to get general answers, I hardly think any serious business owner would rely on it solely as a means of information to make a business plan. That said, you'd be surprised at how many countries have so little resources available to them so Yahoo answers makes a great place for those people who live in places where nobody knows anything about what they are asking about. For more info on Abu Dhabi and the Middle East check the website below.

gomideast.com

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