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What is Micro-Business?

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  • What is Micro-Business?

    The term 'micro-business' (also known as micro-enterprise) is defined in many different ways but, for the purposes of having more for less, it will be operated by a sole operator or family - as distinct from a corporation. The strict definition is not important; suffice to say it's the smallest level of enterprise.

    Micro-business occupies a special place in my affections. Aside from having owned and operated several of them, I trained with the Sirolli Institute - and worked - as an Enterprise Facilitator in a small rural community. I was also self-employed as a small business development consultant for nearly eight years...so I understand this enterprise niche and the people who occupy it.

    At its most fundamental level, it consists of a person with something to sell...seeking people who have a need for that something...in return for cash, goods or the provision of a service (the means of exchange).

    One of the best wasy to advance your personal financial circumstances is to start and operate your own micro-business.

    Subsequent posts will explore some of the associated issues and opportunities.

  • #2
    At its most fundamental level, a micro-business consists of a person with something to sell...seeking people who have a need for that something...in return for cash, goods or the provision of a service (the means of exchange).
    In developing countries, business is stripped down to its bare essentials. No frills...no nonsense...no red tape.

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    • #3
      Business is simple....and it begins with identifying an unfulfilled need.

      The first image shows a lady selling plastic shopping bags. She approached shoppers who were buying produce from the market. Some them bought her bags...and many didn't. She had a simple backend to her business. In her hand, she had a fistful of what appeared to be lottery tickets.

      The lady in blue is a food vendor catering to the breakfast trade at Da Lat Market. In the container on the left, she had what appeared to be fresh yoghurt...and in the blue cupboard thing, she kept the bowls, spoons and all of the things that you eat with yoghurt. Her customers were the market sellers. Once she'd exhausted her supply of clean bowls and spoons, she'd retire to a tap and wash them out...and then continue plying her trade.

      Micro-business doesn't get any more 'micro' than this. No shop rent to pay...no big inventory...no debt to repay.

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      • #4
        The Vietnamese people are highly social. Even when engaging in business, they set things up so that, when there are no customers around, they spend their time eating, talking and otherwise interacting with their fellow traders. These young men are passing the time playing cards...demonstrating that work and play can be successfully integrated.

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