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The Element of Success Inequality in Business

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Everyone aspires to be his or her own boss at one point in life. But many times, these aspirations remain in the mind and never come to fruition. Have you ever wondered why some people pick up very first in business than others? Most often than not, they usually face similar conditions, be it financial or physical conditions. This article seeks to demystify the element of success inequality in business.

I will use a business setting as an example to bring out critical elements that you need to examine. John and James have $100 each. They both want to venture into business for various reasons. They live in the same town, so they experience similar weather conditions. Both men have attained a college education and are good friends. You can say that they have several things in common fueled by their ambition to make it in business. John and James decide to try out the fruit business in March, the same year, at different spots in the same town. John visits a nearby grocery store and window-shops the fruits displayed on the shelves. He takes out his notebook and jots down the types of fruits and their retail prices. He goes further to check several utensils and notes down their respective prices. Armed with adequate information, John leaves for home to ponder over his findings. Meanwhile, James talks to a few women in his neighborhood about the general availability of foodstuff in their town. James wants to establish whether there is a gap in the market. He finds out from the women, who also happen to sell fruits in the nearby towns, that the fruit business is flooded. He also visits supermarkets and retail stores in the area. He is met with a wide variety of fruits on the shelves. This gets him a bit worried about investing in the same business. It doesn’t make sense for him to compete with notable retail outlets. The month of March begins and John and James need to act on their business plans. They agree to meet over a cup of coffee and discuss a few things. John speaks of his findings and James voices out his concerns and reservations of venturing into the fruit business. They proceed to their respective homes in agreement to kick start their business the following week. John draws up a budget to encompass fruit supply, transport and tools and equipment necessary for the trade. Since he already did a background study on prices of tools, he has a rough idea of what to buy and where to buy. He sets out to assemble the necessary tools in a small shop in town and later leaves for the farmland to meet some fruit farmers. John comes back to town with a variety of fruits that he has purchased at a low price. He seeks help from his sister to help with shop activities.

On the other hand, James decides not to venture into the fruit business due to apparent fruit saturation in the market. Two months down the line, John’s business starts picking up as he sells fruits at a lower price than those sold at the supermarkets. Customers love his fruits as they are always fresh and readily available. John goes further to diversify products by selling fruit juice and fruit pudding. His clients are even more wowed by his innovativeness 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 increasing number of customers. James visits the joint with a couple of friends one afternoon to grab refreshments. He is surprised to see his friend thriving in the same business that he thought was saturated in the market.

Lessons

Do not be afraid to try out something. Just because others are doing it, does not mean the market has no space for you. Strategy is critical in business. You may be selling the same thing with many others around you, but always ask yourself, what makes you stand out from the rest? Go the extra mile, there is no harm in trying out things a different way. John stands out from other fruit retailors because of his constant product innovation and high-quality of fruits. In business, the first step is always the hardest step, and the most defining step of your career. It is better to start and fail than to fail to start altogether. Everyday you learn new things, but do you implement them in your business. If the answer is yes, then you are on the right track. If your answer is no, ask yourself why. Organize your thoughts and ideas, then implement. Let your ideas flow from your head to reality. Actualize them to see results. Remember, no step is greater than your first step.

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GradesFixer. (2019). The Element Of Success Inequality In Business. Retrived from https://gradesfixer.com/free-essay-examples/the-element-of-success-inequality-in-business/
GradesFixer. "The Element Of Success Inequality In Business." GradesFixer, 12 Jun. 2019, https://gradesfixer.com/free-essay-examples/the-element-of-success-inequality-in-business/
GradesFixer, 2019. The Element Of Success Inequality In Business. [online] Available at: <https://gradesfixer.com/free-essay-examples/the-element-of-success-inequality-in-business/> [Accessed 22 September 2020].
GradesFixer. The Element Of Success Inequality In Business [Internet]. GradesFixer; 2019 [cited 2019 Jun 12]. Available from: https://gradesfixer.com/free-essay-examples/the-element-of-success-inequality-in-business/
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