You must be having a fair idea of what trading is all about? It is the business of finding a buyer and seller of a product and acting as the middleman to the exchange. What you stand to gain is the difference in the price at which you buy and sell. More number of people has begun to understand the vast potential of this business. The returns are high compared to the investments. If you have acumen for trading then you can take up this business and earn a fortune.
There are plenty of people who despite having all that it takes to start a business fail to achieve anything. So it is good if you start on a cautious note and work hard. Trading business never guarantees you easy money. However, the following guidelines can help you immensely to start market business.
- Reliable Source
Always be on the lookout to find a dependable and affordably priced product source.As your efforts are directed towards an increased margin, you must make sure that you are not being charged in excess by your supplier. Before starting test the selected source completely. Seek references from other customers of the supplier’s particularly dissatified ones. Always be in touch with as many suppliers as possible. This will help you from being overcharged. - Reliable Delivery
Whether it is from your own side or the supplier’s side, your delivery system has to be very reliable. If the system is fool proof you will be spared from many a trouble. Keep testing it regularly to prevent customers from blaming you for any loss, damage or delay. - Legal Requirements
Your product of choice should not have any legal restrictions. In case documentation is required, you must complete that before you start trading options. - Accounting and Taxation
Analyze in details all accounting and tax requirements. When you prepare your business plan, take into account all expenses in starting and running your business. - Credibility
Arguably the most important factor is to build up trust. All those who wish to do business with you will want proof of your credibility. Your credibility will help you gain recognition as reliable trading business person. You can earn credibility in terms of references or ratings. - Communicate
Try to build a network of customers and suppliers. This will help you to be in touch with new developments in customer needs and product information.
How to Start Share Trading Business?
You can start share trading business if you are willing to spend time in the market. Also take into account opportunity cost and interest repayment costs. Some stocks involve a short time frame but there are systems which involve a longer time period. Take care not to transform your trading into an investment portfolio. In case your trade turns sour and you do not have a well thought out exit from your trading plan the effects can be disastrous.
How to Start Fish Market Business?
To start a fish market business you need to communicate a lot. Visiting wholesale markets to get stock of the price is something which you must be regular at. As prices keep fluctuating you need to be in touch with as many suppliers as possible. Likewise you need to supply them at competitive rates to attract more customers.
Trading business can be extremely profitable if you learn how to wade through stiff competition with fortitude.
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sir/mam this is dilip wadhwa actually i want to start a wholesale foodgrains suppliers business i had an knowlledge of this business so plz help me out to open this business right now or i need to wait sometime. or you had any other idea related to this business
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HII, SIR/MADAM
Actually my dad is a businessman of mfg.of tin cans fm past 36 yrs and i am helping him in his business from past 8 years.i had never tried for a job because i personaaly feel i am not meant for a job.but nowadays my dad is not going good with his business and i am searching for a good profitable business of trading. but what business should i start and how should i start i donno.your sugesstion will be highly appreciated.my monthly income should be atleast 1lacs indian currency at present.
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Scott Wilson Reply:
May 20th, 2010 at 8:37 am
Mr. Waseem,
There is a column in this website named “How to start a small business”. There you can get your question asked. There are somany questions answered for new business ideas. So do visit that page and you can get enough information there.
Here is the link –
http://www.professionz.com/in/jobs-in-india/how-to-start-a-small-business.html
Thank you.
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Dear Sir,
I am in Insurance industry from last 3 years working as a agent but in present time companies are making policies day by day to discourage agents from doing business so i want to change my business but want to be in insurance field because i dont have capital to invest please suggest me something.
MANSIH
JAIPUR (AJ.)
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Scott Wilson Reply:
May 20th, 2010 at 8:23 am
Mr. Manish,
As you have been insurance agent, it is difficult to guide you other lines in the same field. You can try with other insurance companies.
If you are not finding the field that much interested, you can maje it your side activity and start something other as well.
Thank you.
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Hello, I am a working man but not satisfied with my current job as I am getting very less salary as per my experience. So I want to get into stock market as a side business.
I want to start a share trading business.
How can I establish it?
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Hi, I am staying and working in AL. I am having 19 years experience in fisheries processing and export. But now I am planning to move to Michigan and want to start my own fish processing business.
Will you please help me in starting my own trading business?
Thank you…
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Hello,
I am having business of spring manufacturing, now I want to start with some trading business to support my present business. I am interested in trading of engineering product , if you have got any idea please inform me asap.
Will you please guide for selection of product which I can trade locally and also outside.
Thank you.
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Hello, I am Edward staying in WI. I need to start oil canvas painting business. I am doing paintings from last 5years. So I need to sell my paintings to world wide. How can I start trading? How to make contacts? Please give a brief idea to proceed the business.
Thank you.
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Hello, I am planning to start trading business of gift articles like purses, key chains, watches, pens, show pieces etc. How can I start trading of these items? Where to buy these products at a cheaper price? What are the legal procedures required to start this type of business?
Thanks in advance for your valuable suggestions.
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Hi, I am diploma civil engineer from BO. At present I am in between jobs as I have undergone a heart Bypass surgery and wish to do a business of my own, I am very much interested in nature, animals, birds,fishes and plants. Would it be feasible to setup a pet showroom, dealing in fish aquarium, pet birds and small animals and all their accessories and feeds?
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I am visiting jaipur to start trading of stones.
Need guidance and few nos of wholesellers of jaipur stones.
I am from Mumbai.
Any jaipur business man looking for people from mumbai for stones trading.
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Hello sir,
I am 19 year old. I am studying in hostel. I want to start the trading business of Tandur Blue Stone. I have many supplier but I cannot understand from where should I start or what should I do first? I want to know what is my 1st step to do?
Thank you.
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Dear Sir/Madame,
I am interested to start an import & export business here in Saudi Arabia to be exact here in Jubail. I am a new player to be consider as per this Fish Trading Business. Can kindly send us complete information & contacts in order for us to start our plan business.
Any assistance you extend to me will be highly appreciated.
Thank you.
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