Topic > The Element of Success Inequality in Business

Everyone aspires to be their own boss at some point in life. But many times these aspirations remain in the mind and are never realized. Have you ever wondered why some people start working earlier than others? In most cases, they usually face similar conditions, be it financial or physical. This article seeks to demystify the inequality element of success in business. Say no to plagiarism. Get a tailor-made essay on "Why Violent Video Games Shouldn't Be Banned"? Get an Original Essay I will use a business context as an example to bring out the critical elements you need to examine. John and James have $100 each. Both of them want to venture into business for various reasons. They live in the same city, so they experience similar weather conditions. Both men are college educated and are good friends. It can be said that they have many things in common fueled by their ambition to make it in the business world. John and James decide to try the fruit business in March of the same year, in different parts of the same city. John visits a nearby grocery store and looks in the window at the fruits displayed on the shelves. Take out your notebook and write down the types of fruit and their retail prices. He goes further and checks out different tools and notes their prices. Armed with adequate information, John leaves for home to reflect on his findings. Meanwhile, James talks to some women in his neighborhood about the general availability of food in their city. James wants to establish whether there is a gap in the market. From the women, who also sell fruit in neighboring towns, he learns that the fruit trade is flooded. Also visit the supermarkets and retail stores in the area. Meet a wide variety of fruits on the shelves. This worries him a little about investing in the same business. It makes no sense for him to compete with major outlets. The month of March begins and John and James must put their business plans into action. They agree to meet over a cup of coffee and discuss some things. John talks about his findings and James expresses his concerns and reservations about venturing into the fruit business. They go to their respective homes by agreement to start their business the following week. John draws up a budget that includes the supply of fruit, transportation, tools and equipment needed for the trade. Since he has already done a basic study on the prices of instruments, he has a rough idea of ​​what and where to buy. He sets out to assemble the necessary tools in a small shop in the city and then leaves for the farmland to meet some fruit growers. John returns to town with a variety of fruit that he purchased at a low price. He seeks help from his sister to help him with the shop tasks. On the other hand, James decides not to venture into the fruit business due to the apparent saturation of fruit in the market. Two months later, John's business begins to recover as he sells fruit at a lower price than what is sold in supermarkets. Customers love its fruits because they are always fresh and easily available. John goes further and diversifies his products by selling fruit juices and fruit puddings. His customers are even more excited about his innovation and spread the word about his business to their friends. John had to put up a tent and equip it with furniture to accommodate the growing number of customers. James visits the place with a couple of friends one afternoon to have some refreshments. He is surprised to see his friend thriving in the same business he thought was saturated in the market. Lessons to keep in mind: This is just one.