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LightTrusted Adviser
Asked: September 18, 2023In:

Depending on the type of rental, demand, level of competition, and location, a rental service’s profitability varies. It can be profitable when properly managed, with high demand and low prices, but success demands careful planning and market dynamics adaption.

Depending on the type of rental, demand, level of competition, and location, a rental service’s profitability varies. It can be profitable when properly managed, with high demand and low prices, but success demands careful planning and market dynamics adaption.

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businessmoney
Light
LightTrusted Adviser
Asked: September 17, 2023In:

So many people work online and offline, how do they do this without getting stressed or lacking in one area? Do you have any suggestion?

So many people work online and offline, how do they do this without getting stressed or lacking in one area? Do you have any suggestion?

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businessmoney
  1. eldavis
    eldavis Enlightened Mentor Graphic designer

    It's actually very possible to work both offline and online the key to achieve this is proper time management. The beautiful thing about working online is that it can be done from anyway with ease. To achieve balance, you need to set a schedule for yourself, have a time you use for your offline jobsRead more

    It’s actually very possible to work both offline and online the key to achieve this is proper time management. The beautiful thing about working online is that it can be done from anyway with ease. To achieve balance, you need to set a schedule for yourself, have a time you use for your offline jobs, and a scheduled time for your online jobs as well. 

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Light
LightTrusted Adviser
Asked: September 17, 2023In:

There is need to have a positive business mindset even amidst all the ups and downs in business. So how do you do this?

There is need to have a positive business mindset even amidst all the ups and downs in business. So how do you do this?

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businessmoney
  1. spencer
    spencer Enlightened Mentor

    A positive mindset is a must-have for a business owner, it can help you in weathering storms in your business, maybe you get low sales or your competition are taking over your market share. Having a good positive mindset can also help you transform your business to a world class, because thoughts arRead more

    A positive mindset is a must-have for a business owner, it can help you in weathering storms in your business, maybe you get low sales or your competition are taking over your market share.

    Having a good positive mindset can also help you transform your business to a world class, because thoughts are the bedrock of any action, you think about it before you do it.

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LightTrusted Adviser
Asked: September 17, 2023In:

So many people are caught up in this. They get a loan with good intentions but in the long run, they are not able to pay back. What should they do as interest is accruing?

So many people are caught up in this. They get a loan with good intentions but in the long run, they are not able to pay back. What should they do as interest is accruing?

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businesscredit
  1. aboy01
    aboy01 Trusted Adviser Digital Entrepreneur | Knowledge Sharer | Smart Income Mentor

    If you find yourself unable to repay a loan, the last thing you should do is ignore the situation. It's best to reach out to the lender right away, being open about your circumstances. Many banks or lenders are willing to work with you by offering options such as extending the repayment period, loweRead more

    If you find yourself unable to repay a loan, the last thing you should do is ignore the situation. It’s best to reach out to the lender right away, being open about your circumstances. Many banks or lenders are willing to work with you by offering options such as extending the repayment period, lowering monthly payments, refinancing the loan, or providing temporary relief to avoid the debt from escalating.

    It’s wise to refrain from taking out a new loan simply to settle the existing one unless you have a well-thought-out plan. Take a close look at your expenses, trim any unnecessary costs, and focus on making at least partial payments to minimize the interest accruing. Negotiating to halt additional fees or arranging a gradual repayment scheme are also steps you can consider.

    Above all, make sure to document all agreements and consult with a financial expert at the earliest opportunity. Acting promptly will safeguard your credit rating, alleviate stress, and prevent potential legal consequences or asset seizures.

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LightTrusted Adviser
Asked: September 17, 2023In:

The worst thing that will happen to you is taking a short time loan when you know that you won’t be resuming work soon. This will put you under pressure the moment you can’t pay back at due time.

The worst thing that will happen to you is taking a short time loan when you know that you won’t be resuming work soon. This will put you under pressure the moment you can’t pay back at due time.

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creditmoney
  1. Augusta
    Augusta Enlightened Mentor

    This is like writing that one shouldn't take a loan when the time isn't appropriate because you would be causing issues for yourself. Taking a loan should be when one is still working and expecting money very soon. It isn't even ideal to take a loan when you are on a short break and money might notRead more

    This is like writing that one shouldn’t take a loan when the time isn’t appropriate because you would be causing issues for yourself. Taking a loan should be when one is still working and expecting money very soon. It isn’t even ideal to take a loan when you are on a short break and money might not come in at that time you would be putting yourself under pressure through this means.

    I’m no advocate of borrowing in the first place so if one can avoid it, it is to do away with borrowing in the first place to avoid repayment pressure which can be bad.

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LightTrusted Adviser
Asked: September 17, 2023In:

I keep wondering if there are new business ideas coming up. It seems to me other business ideas are saturated already, you see millions of people doing the same thing.

I keep wondering if there are new business ideas coming up. It seems to me other business ideas are saturated already, you see millions of people doing the same thing.

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businessmoney
  1. Augusta
    Augusta Enlightened Mentor

    No I don't think all the business niches are saturated it is mostly niches that are highly demanded that are saturated. The thing is that people would always want to go into a niche that they can easily navigate. This is where you don't need to do much to attract people and sales. So you can start yRead more

    No I don’t think all the business niches are saturated it is mostly niches that are highly demanded that are saturated. The thing is that people would always want to go into a niche that they can easily navigate. This is where you don’t need to do much to attract people and sales.

    So you can start your own business by trying out your own business idea or you just be creative with the niche that is already in existence. But it is good to go for niche that you can be outstanding in with your own ideas and thoughts.

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Light
LightTrusted Adviser
Asked: September 17, 2023In:

How can a company create a thoughtful pricing structure that strikes a balance between fair earnings and client affordability while also taking the state of the industry and rivalry into account for a win-win strategy?

How can a company create a thoughtful pricing structure that strikes a balance between fair earnings and client affordability while also taking the state of the industry and rivalry into account for a win-win strategy?

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businessmoney
  1. Mika
    Mika Expert Mind

    Unlike overpriced luxury products, for example, iPhone, Louise Viton, Gucci, etc. I do not set a huge price margin. A $1200 Louise Viton bag uses materials that only cost around $100 but look at the profit margins. I have no intention of doing that, my price strategy is simple, keep the profit margiRead more

    Unlike overpriced luxury products, for example, iPhone, Louise Viton, Gucci, etc. I do not set a huge price margin. A $1200 Louise Viton bag uses materials that only cost around $100 but look at the profit margins. I have no intention of doing that, my price strategy is simple, keep the profit margin just between 20 to 30 percent and sell products in volume to make a lot of money. I want to sell to masses not to niche market

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Light
LightTrusted Adviser
Asked: September 17, 2023In:

What are some important elements to take into account when choosing a goal for a new firm that is both relevant and attainable and that also fits with its mission, vision, and growth plan?

What are some important elements to take into account when choosing a goal for a new firm that is both relevant and attainable and that also fits with its mission, vision, and growth plan?

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businessmoney
  1. eldavis
    eldavis Enlightened Mentor Graphic designer

    I think the goal of every new business should be to establis h their brand, and have a stronger customer base. A lof of businesses often focus on get lots and lots of customers but they do not even try to create a stronger brand so at the end of the day, they are not able to maintain their customerRead more

    I think the goal of every new business should be to establis h their brand, and have a stronger customer base. A lof of businesses often focus on get lots and lots of customers but they do not even try to create a stronger brand so at the end of the day, they are not able to maintain their customer base, or they make the mistake of quickly trying to expand the business.

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Light
LightTrusted Adviser
Asked: September 17, 2023In:

Can you get a part time online job that pays like a full time offline job, if so how do you get this? Can it also be substituted for a full time job.

Can you get a part time online job that pays like a full time offline job, if so how do you get this? Can it also be substituted for a full time job.

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businessmoney
  1. aboy01
    aboy01 Trusted Adviser Digital Entrepreneur | Knowledge Sharer | Smart Income Mentor

    Absolutely, there are well-paying part-time opportunities available, including online ones, but they rely on skill rather than chance.To secure such a job, concentrate on acquiring high-income skills such as tech (coding, data analysis), design, copywriting, digital marketing, or consulting. These rRead more

    Absolutely, there are well-paying part-time opportunities available, including online ones, but they rely on skill rather than chance.

    To secure such a job, concentrate on acquiring high-income skills such as tech (coding, data analysis), design, copywriting, digital marketing, or consulting. These roles compensate based on the value you provide, not the number of hours worked. First, establish credibility through a portfolio or samples, then utilize platforms like Upwork, Fiverr, or LinkedIn to connect with potential clients.

    It’s true that a part-time online position can potentially generate income on par with or surpassing a full-time job, especially in freelance or remote contract positions. Many individuals have successfully transitioned from full-time to part-time work in this manner.

    The key is to specialize in your field, cultivate a strong reputation, set premium rates, and consistently deliver quality results.

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Light
LightTrusted Adviser
Asked: September 17, 2023In:

Some people talk about thrift business as if it’s a dirty job while so manage engage themselves in the same business. How lucrative is it and is it advisable to go into it?

Some people talk about thrift business as if it’s a dirty job while so manage engage themselves in the same business. How lucrative is it and is it advisable to go into it?

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businessmoney
  1. Mika
    Mika Expert Mind

    Not all people are making a lot of money and not all people can afford new products. In fact, there are more people with low income compared to well-off people. Therefore, the market for thrift products is bigger than new products (in terms of sales and not the market cap). If you create a thrift buRead more

    Not all people are making a lot of money and not all people can afford new products. In fact, there are more people with low income compared to well-off people. Therefore, the market for thrift products is bigger than new products (in terms of sales and not the market cap). If you create a thrift business, you will be able to make a lot of money as you will be able to cater to low income people. It is a growing business in my town

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