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spencer
spencerEnlightened Mentor
Asked: July 4, 2024In:

Why do a lot of business fail in the first 5 years, what are they doing wrong what do they need to correct about their business to succeed?

Why do a lot of business fail in the first 5 years, what are they doing wrong what do they need to correct about their business to succeed?

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business failurebusiness ideabusiness tips
  1. Inem
    Inem Knowledge Seeker

    The first five years of the life of a business represents the stage where the foundations that formed the business would be tested. It is not uncommon for there to be some minor flaws to those foundations but most entrepreneurs that are starting out don't have the flexibility to tweak their businessRead more

    The first five years of the life of a business represents the stage where the foundations that formed the business would be tested. It is not uncommon for there to be some minor flaws to those foundations but most entrepreneurs that are starting out don’t have the flexibility to tweak their business plans and foundations to adjust to those structural tests and they end up crumbling. New businesses should adopt flexibility and learning to be able to survive beyond the first five years.

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spencer
spencerEnlightened Mentor
Asked: July 4, 2024In:

What platforms can I work on as an online tutor? What are the things I need to get dialed in before I get started tutoring online?

What platforms can I work on as an online tutor? What are the things I need to get dialed in before I get started tutoring online?

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businessmake money onlineonline gigs
  1. De Mogul
    De Mogul Expert Mind A student

    To become an online tutor you need to first of all the subject that you want to be teaching and be very good at it by practicing all the time. After doing that you need to know the student you are looking for whether they are university students or just secondary school students.   After doingRead more

    To become an online tutor you need to first of all the subject that you want to be teaching and be very good at it by practicing all the time.

    After doing that you need to know the student you are looking for whether they are university students or just secondary school students.

     

    After doing that you know move on to the last phase which is getting your tools ready which include a board and also a ring light to use for your YouTube videos.

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spencer
spencerEnlightened Mentor
Asked: July 3, 2024In:

Between product or service business, which one is the hardest to get started and get to profits, how to assess the one market needs the most?

Between product or service business, which one is the hardest to get started and get to profits, how to assess the one market needs the most?

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business ideabusiness tipsproduct or service
  1. Avarose
    Avarose Enlightened Mentor

    Generally, product businesses can be harder to start because they often require upfront costs for inventory, manufacturing, and shipping, whereas service businesses mostly need skills and time. However, services can be limited by how many clients you can handle at once. To assess market needs, reseaRead more

    Generally, product businesses can be harder to start because they often require upfront costs for inventory, manufacturing, and shipping, whereas service businesses mostly need skills and time. However, services can be limited by how many clients you can handle at once. To assess market needs, research what people are actively searching for, check competitors, and listen to customer pain points. The best approach is to start where your skills meet a real demand, because solving a pressing problem usually leads to quicker profits.

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spencer
spencerEnlightened Mentor
Asked: July 3, 2024In:

What are the steps I need to take to double my income before the year ends? Any side hustle I can learn to get me up and running?

What are the steps I need to take to double my income before the year ends? Any side hustle I can learn to get me up and running?

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make moneymake money onlineside hustle
  1. Avarose
    Avarose Enlightened Mentor

    If I were trying to double my income, I’d start by looking at what I’m already good at and figuring out how to turn that into extra money. Learning a side hustle like freelance writing, social media management, or selling products online can get you earning faster. I’d also focus on cutting wasted tRead more

    If I were trying to double my income, I’d start by looking at what I’m already good at and figuring out how to turn that into extra money. Learning a side hustle like freelance writing, social media management, or selling products online can get you earning faster. I’d also focus on cutting wasted time, working smarter, and reaching out to people or networks that could offer opportunities. The most important thing is to take consistent action small steps every day can add up quickly to a big difference in income.

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spencer
spencerEnlightened Mentor
Asked: July 3, 2024In:

What’s the difference between speculation, Gambling and Investment, are they the same things? If not, what’s the key differences between them?

What’s the difference between speculation, Gambling and Investment, are they the same things? If not, what’s the key differences between them?

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gamblinginvestmentspeculation
  1. Augusta
    Augusta Enlightened Mentor

    The primary difference is that gambling is a pure bet on chance with little to no skill or basis for profit, while speculation involves taking a calculated risk based on analysis and probability, hoping for high returns from uncertain outcomes With gambling it is mostly negative expected Return: OveRead more

    The primary difference is that gambling is a pure bet on chance with little to no skill or basis for profit, while speculation involves taking a calculated risk based on analysis and probability, hoping for high returns from uncertain outcomes

    With gambling it is mostly negative expected Return: Over the long term, the odds are always against the gambler, leading to a loss of money.

    Gambling relies on luck and has a negative expected return over time, whereas speculation involves a decision-making process to try and influence the outcome.

     

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spencer
spencerEnlightened Mentor
Asked: July 2, 2024In:

Can the amount I make influence the money I save, what’s the correlation between income and savings?

Can the amount I make influence the money I save, what’s the correlation between income and savings?

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make moneysavingssavings tips
  1. De Mogul
    De Mogul Expert Mind A student

    Of course the money you earn in a month is directly proportional to the amount of money you will be able to save. It is a common fact and knowledge that you can't save more than you earn. Also you need to know that there is a certain percentage of money you can save from your salary no matter how yoRead more

    Of course the money you earn in a month is directly proportional to the amount of money you will be able to save.

    It is a common fact and knowledge that you can’t save more than you earn.
    Also you need to know that there is a certain percentage of money you can save from your salary no matter how you try to minimize your spending.

    If you think the work you are doing presently does not pay you enough to save as much as you want it will be very wise for you to look for a better job

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spencer
spencerEnlightened Mentor
Asked: July 2, 2024In:

How can a business owner protect his business from inflation, what are the steps to follow in other to circumvent that?

How can a business owner protect his business from inflation, what are the steps to follow in other to circumvent that?

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business ideabusiness ownerbusiness tips
  1. Inem
    Inem Knowledge Seeker

    For a business to be free from inflation, it has to expand into other territories so that revenue from areas with less inflation could be used to cushion the effects of the inflation in areas that are ridden from inflation. Another way a business can protect itself from inflation is by creatively soRead more

    For a business to be free from inflation, it has to expand into other territories so that revenue from areas with less inflation could be used to cushion the effects of the inflation in areas that are ridden from inflation. Another way a business can protect itself from inflation is by creatively sourcing it’s inputs by itself. That way, it doesn’t have to depend on other businesses to buy productive inputs from. I plant my own corn that I use to produce animal feeds for my birds. That saves me from inflation associated with corn.

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spencer
spencerEnlightened Mentor
Asked: July 2, 2024In:

How can I apply for a adsense for my blog, what criterias do I need to meet to be able to be qualified for the Google adsense program?

How can I apply for a adsense for my blog, what criterias do I need to meet to be able to be qualified for the Google adsense program?

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bloggingblogging platformsblogging tips
  1. Redditcat1
    Redditcat1 Active Contributor Digital marketer

    You can apply for Google AdSense by just filling the form and attached your blog links this is where AdSense will display your ads so that people can see and click on them so I believe reading a short article about this on Google can help

    You can apply for Google AdSense by just filling the form and attached your blog links this is where AdSense will display your ads so that people can see and click on them so I believe reading a short article about this on Google can help

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