if you are just about to start a business, then i would say service industry. not much overhead needed. you do not need to worry about unwanted stocks, or suppliers giving you a hard time. while in service industry, well, basically its about how you sell your service. however, i am no expert. its just what i would do.
2007-05-15 06:24:17
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answer #1
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answered by Anonymous
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I am doing both types of business, and here's why.
Service driven - I'm a Realtor. I provide the service of representation in either buying or selling a home. I really enjoy helping families reach their housing goals. It's fun, and the rewards are more than the money. Since I get paid a percentage of the sale price on a house, I earn half as much money to help a family buy a $75,000 house as to buy a $150,000 house. And the family buying the $75K house needs ALOT more help, time, explaining and guidance on my part. They're also usually more appreciative, and the intangible rewards of helping a family like this are greater.
Product driven - I'm also in a multi level marketing company, distributing vitamins. I put in far fewer hours per week in this job, and expect it to be an ongoing income for my retirement years - preferably sooner than later:) Rather than only earning income on what I sell, I spend my time helping distributors in my downline to refer customers to the company and to sponsor other distributors. I get paid the same percentage on my work, no matter who I'm assisting and the income I develop is a residual income so although I'm not going to "get rich quick", I will have a retirement type income coming in even after I stop putting hours into the business.
Now these are just my examples, but I do think that in general, with a service driven business the best you can hope for is to trade your hours for dollars - and as your business grows and you have employees, you can get a part of their production to be paid to you. What you do have to offer (to beat the competition) is how good you are at what you do. A product driven business still requires the service of SALES. Every business actually lives or dies on its sales force - funny how people look down upon "salespeople"... But rather than trading hours for dollars, if you can find a way to sell lots of your product in fewer hours, there is no ceiling on what you can earn per hour.
Good luck in whatever you decide to do.
2007-05-15 10:24:04
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answer #2
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answered by teran_realtor 7
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both. do want to live only in a only service industry then you dont get to eat or have any clothes etc. what good is a software without the hardware.
2007-05-15 09:56:11
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answer #3
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answered by Anonymous
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