Get In Where You Fit In
I’m pretty sure the average consumer doesn’t realize the tedious process between an entrepreneur’s first action then into the consumer’s hand. Well, it’s business owners that don’t quite get this until they are actually going through it. Understanding a small part of how some of these processes work you will quickly start to see how many businesses get paid during the process of just one product being developed > manufactured > distributed and then sold.
In the development stage your probably going to need to hire a specialty attorney to overlook copyright or patent applications. Without the correct legal documents, it’s not smart to share your ideas with investors or anyone that’s in a position to put the capital behind your idea without you.
The manufacturing stage is more flexible because some products can be made to order and others may require some overhead but regardless things like labeling and packaging are necessary which means you will need a graphic designer and a printing company at the very least.
Distributing your product depends on factors like are your customers local, national, or global. Some companies only deliver or service locally which will occur regular auto maintenance and gas expenses. Even to sell online in the United States you have to include USPS, UPS, or FEDEX in the line of businesses making money from you before your product gets to the customer. United States-based businesses that provide international services or products may need an export license on top of ground shipping costs on both sides of the water.
Selling products is a more familiar stage because if you have ever purchased something with the intention of selling it for a profit then you understand the basis of commerce. What you don’t see is who that product came from before it got to you or before it got to them. All of those people are profiting. Walmart shelves are stuffed with products that have been developed > manufactured then distributed to their stores for sale for Walmart to profit.
As you see the term it takes money to make money is alive and well. Learning your industry’s hierarchy and who and what it takes to run will give you the insight needed to make it better and that contribution will be long-lasting and financially beneficial.
Some positions or professions whichever title suits best were created from the need for encouragement or motivation. The Life Coach profession is basically a free enterprise system where anybody can charge for life advice without a certification or license.
What exactly is free enterprise? Well, it’s defined as (an economic system in which private business operates in competition and is largely free of state control. ) What that means, in a nutshell, is that you are free to sell your product or service to whoever will buy it with little to no state or government interference. Some might call it capitalism or free market. Having no solid regulations in an industry opens the door for all types of business opportunities especially if you are already rich.
The barber or beauty shop is a great example of a free enterprise business. Most people prefer to get their hair done by the same person, in fact, most people that have the opportunity probably will never change who or where they are comfortable going.
It’s no rule, regulation or law stated that it only can be a certain amount of beauty or barbershop in a state. Some states may require a cosmetology license for your stylist to operate in a public physical location but you are free to sell to whoever and charge whatever you want.
Another example is auto mechanic shops. Any guy that has ever changed a tire can be self-qualified to repair your automobile and open up shop. There are certain licenses you need to operate certain equipment and provide particular services but that’s only if you are serving the public or in a facility. Even then, a state fine or a lawsuit at the most but you’re in no danger of your business being shut down. Remember, you’re a private business, and your customers agree to the terms of your service so any real liabilities can be delegated to the customer the moment they sign your agreement.
Since the United States is a free enterprise economy there are endless ways of becoming an entrepreneur and what I hoped for you to see is that there are business opportunities inside every business and for every initiative thought there will be a process before that thought is brought to life. Understanding the develop > manufacture > distribute process will give you a better picture of the inner working of those types of businesses and allow you to see just where you can fit in.
Tip: Since blockchain technology has emerged, if you are a coder with the right knowledge you can create and distribute your own cryptocurrency independent of any local or federal banks.