3 ways to make money without losing money in business

Throughout my life, I went through all the education courses from kindergarten to graduate school. He worked in large corporations and briefly worked in small research institutes abroad. And he’s in business now. The hardest thing is the business. There are not just one or two things to think about, and there are too many unforeseen variables. And I have to take full responsibility for all the results. There are not many people to rely on, and all the employees are looking at me. 80% of self-employed businesses, the smallest unit of business, close down within 10 years. Business is such a difficult area, but seeing that it has survived so far, it seems that there is a corner where it is quite good. How can I make money unconditionally by doing business without going bankrupt? It will depend on your point of view and situation, but I would like you to consider the following three things.

Always set the minimum unit of business that monetizes my personal skills as default

You can go bankrupt while running a business. However, you also have to be good at ruining things. The title says that you can make money unconditionally, but just because you fail doesn’t mean you can’t make money. If you use your experience as a stepping stone to failure and try again properly, you can make more money. So the important thing is to ruin well. If you start a business with debt without your own capital and fail, it is not really easy to revive, at least in Korea. So, first you have to start small. In particular, if you create a business model that monetizes your personal abilities, most of your personal time and effort will be lost even if it fails. These days, with the development of SNS, there are more ways to monetize individual skills than you think. When individual efforts turn into profits enough, the business can be expanded. If you expand like that and fail, you can earn money without losing money because there is no debt and there is a business model that allows you to start over.

Receive a share

Most people think that when they start a business, they start everything from scratch. It is an illusion. You absolutely don’t have to. If you have the ability and enough capital, you may be able to take all the risks, but most of them are difficult to do. In that case, let’s appeal my ability to a person with outstanding ability. So let’s become a co-founder and get a share. That way, you can minimize risk and maximize profits. In this case, trust is more important than ability. The co-founders are comrades in arms and family. So, you must show your ability and trust together. In fact, the three directors of our company received shares from me based purely on their ability and trust without capital investment, and they are receiving higher salaries than at their previous jobs. Do you see little by little how to succeed unconditionally without losing?

Sell your ideas

It’s not an easy area, but let’s do a kind of two-job format, one working at a regular job and the other selling ideas. The idea here can be interpreted from several perspectives. The highest level of difficulty is writing technology-related patents. In fact, it is difficult to write a patent, but paying the cost to maintain a patent is never easy when the number of patents increases. Still, if you can write a patent in a related field, think of it as a kind of private research institute and sell advanced ideas. Another type of idea is selling a story. These days, stories can be sold in a variety of forms. You can broadcast on YouTube and you can also publish by yourself. Let’s become an individual entrepreneur who dramatizes and sells ideas in this way. If you work this way, you lose less than you think, and if you are lucky, you can make a huge profit.

The world is wide and there are many ways. So don’t jump into business too recklessly without thinking, but think about the direction of minimizing risk and hope you can do business happily without pain. I sincerely wish you luck.