Business Ideas. Which would you choose?

Which business would you choose to start?

  • #1 - high startup, more risk, corporate, educational

    Votes: 1 14.3%

  • #2 - low startup, low risk, local, entertainment

    Votes: 6 85.7%
  • Total voters
    7
Scientia

Scientia

A true lady
MBTI
INFJ
I have to make a choice. I would love your input.

Which business idea would you pursue?

1) Intellectually stimulating but not as lucrative, requiring higher startup costs and loans but also international travel and expansion potential, focus: corporate, educational

OR

2) Not very intellectually stimulating but much more lucrative, easier startup, no travel, easily sustainable, local expansion potential, focus: local, entertainment
 
2) Although success in either isn't guaranteed, I would feel there's a better chance of achieving more realistic and quicker success with local, assuming there is a supportive business environment and community in the locale where I'm starting up. And also, whether the market is beneficial towards the particular industry. It would be easier to determine whether similar businesses have been successful by comparison. Local could mean less competition. Local has the potential to expand and growth more quickly in a shorter frame of time, although growth may be gradual. With corporate, growth requires long term investment. If the money, safety net for huge loss, and resources are available, then it may be an extremely risky endeavor, but yield huge rewards. But depends on the system in place. If it's a completely new concept you are working on, there's high risk in terms of willingness of the market to support something new or it could be great in that it's a niche which makes you stand out from the rest. Corporate may offer larger frameworks for capital investment, transnational organizational support, and global market opportunities. Local could offer this only if the business is very successful and moves beyond the local and regional level.
 
2
 
If there are only two definite choices, I don't understand when the whole world is out there. As a friend and to answer your question without all the questions, I would choose where you can be happier.
 
just me said:
If there are only two definite choices, I don't understand when the whole world is out there. As a friend and to answer your question without all the questions, I would choose where you can be happier.
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I think I'm with @just me - I am usually very reluctant to give any advice on a subject, unless I feel confident I understand it very well. I know 'life is a risk event' and that it's right to be brave and take chances at times. However I think it's probably wise to carefully examine the risks/rewards beforehand and study all the angles. At least then you have probably understood the potential pitfalls, and adjusted/avoided them. Knowing how you are I would say, that's what you're doing already.

As I am currently dealing with the impact of some of my own poor decision making, I know I will be 'taking my own advice' in what I do next, without letting it deter me from seizing opportunities that I feel are right for me. That's a long winded way of me saying - no one knows better than you do, what's the right decision for you. Good luck with it, whatever you choose.
 
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Leave them you fool! Let's get de gold! DE GOLD EES EVERYTHEENG!

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While option is better and more of my passion, i'd still choose 2. Start small, then go further afrer a few years. That was my mistake before, i went all out and splurged on something big first, and though it was also a success, i still had a LOT to learn. So i had to close it down. :(

But then again that's just me.
 
Scientia said:
I have to make a choice. I would love your input.

Which business idea would you pursue?

1) Intellectually stimulating but not as lucrative, requiring higher startup costs and loans but also international travel and expansion potential, focus: corporate, educational

OR

2) Not very intellectually stimulating but much more lucrative, easier startup, no travel, easily sustainable, local expansion potential, focus: local, entertainment
Click to expand...

It's been a little while. Have you chosen?
 
I think it really depends on how much of yourself you're willing to invest. 1 sounds like a newborn baby. Lots of attention required from you, but perhaps more fulfilling in the end. What's important for you, the payoff, or what you'll actually be doing?

Keep us updated @Scientia :)
 
Milktoast Bandit said:
If you were me, you'd choose 2.
If I were you, I'd choose 2.
But that's just me...


I owned a business that was like option 2. It was easy to start and quite enjoyable for a few years.
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No he would choose whatever makes you happier
 
I'm happy you decided, and your choice sounds great! Not just saying that.
 
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