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  • Essay / The Element of Success Inequality in Business

    Everyone aspires to be their own boss at some point in their life. But often these aspirations remain in the mind and never come to fruition. Have you ever wondered why some people go into business earlier than others? Most often, they face similar conditions, whether financial or physical conditions. This article seeks to demystify the element of inequality of success in business. Say no to plagiarism. Get a tailor-made essay on “Why Violent Video Games Should Not Be Banned”? Get an original essay I will use a business context as an example to highlight the critical elements you need to examine. John and James have $100 each. They both want to go into business for various reasons. They live in the same city and therefore experience similar weather conditions. Both men were college educated and good friends. We can say that they have several points in common fueled by their ambition to succeed in business. John and James decided to go into the fruit business in March of the same year, in different locations 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 writes down the types of fruit and their retail prices. He goes further, checks several utensils and notes their respective prices. Armed with adequate information, John returns home to reflect on his findings. Meanwhile, James talks to some women in his neighborhood about the general availability of food in their town. James wants to determine if there is a gap in the market. He learns from the women, who also sell fruit in neighboring towns, that the fruit trade is flooded. He also visits supermarkets and retail stores in the area. He meets a wide variety of fruits on the shelves. This makes him a little nervous about investing in the same company. It makes no sense for him to compete with reputable outlets. March begins and John and James must put their business plans into action. They agree to meet over a cup of coffee and discuss a few things. John talks about his findings and James expresses his concerns and reservations about going into the fruit business. They go to their respective homes with the agreement to start their business the following week. John establishes a budget to cover the fruit supply, transportation, and tools and equipment needed for the business. Since he has already done a basic study on tool prices, he has a general idea of ​​what to buy and where to buy it. He sets out to gather the necessary tools in a small store in the town and then sets off into the farmland to meet fruit growers. John returns to town with a variety of fruits that he bought at a low price. He seeks help from his sister to help him with the store's activities. On the other hand, James decides not to go into the fruit business due to the apparent saturation of the market with fruit. Two months later, John's business begins to pick up as he sells fruit at a lower price than those sold in supermarkets. Customers love his fruits because they are always fresh and easily available. John goes further by diversifying his products by selling fruit juices and fruit puddings. His customers are even more won over by his innovative spirit and tell their friends about his business. John had to set up a tent and outfit it with furniture to accommodate the growing number of customers. James visits the restaurant with some friends one afternoon to.