Check out what's going on around us. At a local crossroads, there's this young guy, probably in his early twenties, who picked up bike repair skills and is now raking in about 1500 to 2000 BDT daily. He even brought on two more people to help him out. Then there's this 14 or 15-year-old working at a salon, pulling in 2000 to 3000 BDT each day. What’s striking is that neither of them had a ton of cash to begin with. They kicked things off with solid skills. Look around and you can spot plenty of folks who started with nothing but have turned into farmers, business owners, and entrepreneurs, all thanks to their skills. They didn't just pave the way for their own success but also created jobs for those who were out of work, contributing to making our country more self-sufficient. That’s why I always say, if you've got some cash on hand, invest in yourself first. Pick up a skill. Make yourself more capable. Spending 20,000 to 50,000 taka might not pay off right away, but if you invest that money in learning, it can really set you up for the future.
There can't be a business without the operator having the skills to run it, or you can't find a job without the skills to do it; everything starts with skill and knowledge.
Your skill is your best investment, and it's something that nobody can take away from you. After you invest in yourself, money can easily come to you, and once you have the money, you can establish your own company and apply all the skills and knowledge that you learned.
I would rather invest that money into something that actually bring me return like bitcoin or stocks rather than investing on me because if there is something we need to learn then we can always get that for free now, this is internet era and every information is available over the websites, in different formats so we don't necessarily need to spend like 50K or 500K to make us better in something.
OP, first of all, welcome to the forum.
You are talking about learning skills and you mention two very specific cases of your environment, but I would like to know about your own case. Did you learn valuable skills that are leading you to economic success?
I agree to some extent that starting a business only because you got some capital isn't very safe, especially in certain fields with high risk of bankruptcy because of, without going any further, bad luck. But choosing the wrong skills to learn can also drain your money and energy, like wasting several years studying something with few job opportunities.
Skills are important, you can earn from anywhere with the skills you have, once you have a lot of money to invest but don't have the skills it's the same as you will lose in the investment, just keep learning first to improve your skills this will be your path to success.
There are people who say that instead of investing with small amounts, let alone mediocre, it's better to use that money to improve your skills by attending seminars, webinars, whatever it is that can improve your skills. When you already have this sure you will be valuable when doing anything.
Many skills can't be learnt without capital.
Free and cheap skills keeps you lagging for long, capital gets you there faster.
You can also have that valuable skill in the end and still need capital to start something.
Not all skills will valuable tomorrow, they get washed out in time, see what AI did to the world today?
I am not trying to prove that you are wrong, some part of your points are valid but my point is this life isn't as balanced like you described, what will work out fine for you could set me on journey that won't get me anywhere.
I will say to learn a skill is more beneficial than investment, with skill you can standout anywhere you found yourself,to me I will say after education is skills,I have a friend who enroll in cleaning of teeth as a skill as of 5years ago and In a day the guy makes not less than #200'000 per day and the person is still enjoying the skill up till today of which no investment platform can offer such amount of money as profit,note I'm not against investment,is good to invest when you have stand well because investment can drop it value but skills still remains it's value.
you are actually right mate. it is good to spend money in acquiring skill that will be helpful in the nearest future. many guys had a lot of money but simply because they lack the skill to invest wisely, they end up not succeeding after much expenses. this narration or illustration you gave now is a nice one. although hiring more guys in this case to help increase the efficiency of labor is just because those guys also spent money to acquire that skill. if they did not, it would have still require him to train them first before working with them. i agree that success doesn't start with big capital but with valuable skills, but money is still needed to boost any business. especially when you know the business you want to embank on. where people make unwise financial mistake is when they lack skill of the business they plan on investing and they went ahead and invest, without making research about it.
If you are good in the business of investment, you will understand the importance of money especially cash at hand. That is all you need to make money and not some complicated skills that are rarely convertible to money and even when acquired, the most you can do is getting a job and be paid salary. As a beginner, getting a skill that gets you paid is good but that should not be compared to having raw cash which you can easily invest in stocks and other things to get more money without taking much risk.
For every business to be successful, there needs to be presence of a skill to make the business thrive. Money is also important to help propel the business further but the lack of basic skill to push the business forward is a major stopper to the success of the business. Youve given a really good practical scenario OP, and this will be a major guide to many that are looking to first have a huge capital before they can begin something. With the skills you can start something and then as time goes on, one can always get to push the business further with the money boost that will come. Money is better spent on already established business and not on unskilled business.
I have to believe that a deep seated longing and passion is what drives anyone who intends to be useful to himself and to the society to become of value and these days, value pays the highest currency you can ever think of.
Just imagine how valuable these young boys are in the story and an angel investor can just do give away in the terms of millions and their lives has changed for good.
One good thing about starting with little dependency on huge capital is that it spurs one to do their best always and as such they may take cheap jobs and learn as they gain more experience in the field, thus paving a way for other better opportunities that becomes a rare skill.
It's a wrong thought that in order for a person to become successful, they need a huge capital to start with.
In this economy, good or bad, someone who's got the skills to work on, they can survive it.
Whoever has got the skills and the honesty with the service they provide to the people, they're the ones who are making it big.
And that's because satisfied customers are coming back on them and they're also being referred and shares the news through word of mouth.
If you want a long-term success, don't focus on increasing your capital every now and then, but focus more on maximizing your knowledge and skills on a certain thing that will give you a sustainable income in the next days, months and years.
Just to cite an example, if you have your own skills on a certain company, and is receiving a good salary, but the company closes suddenly and everyone loses their job eventually. But since you have a good skill, you were able to build your business out from your small earnings, but for those who have nothing and have failed to develop some skills, they'll remain jobless while you are already making a good amount of profits.
Money is essential, but skills are more crucial. If you want to make more money, level up your skills and you'll attract more customers and profits on your business.
There are things that money can't do, but with valuable skills, everything will be possible.
Success cannot be guaranteed with money, no matter how huge it is, but if you have brilliant ideas and valuable skills, not only you will earn a small success but a long term goal success that gets higher while continuously improving the skills for the sake of bringing more profitable income in the next operations.
Success brings money, but skills once getting high demand will double or triple the target income.
Big capital is useless if you dont have valuable skills and vision. No one becomes successful by being rich alone. Most of the rich even the born rich that still successful are good on managing their businesses.
Those rich that has trash or useless skills usually ended up broke in the end especially if they just inherit their wealth from their parent.
People with valuable skills is indeed have higher chance to become successful if we are talking about the future outcome.
Yes brother, I am currently learning a skill. But before that, let me share a bit about my journey.
I started my working life with a small job where my monthly salary was only 12,000 BDT. After thinking deeply, I realized that it would be very difficult to achieve any meaningful progress or long-term improvement with a salary of just 12,000 taka. Thats why business became my main focus. With a small amount of capital, I decided to learn a skill and start step by step. My goal is to follow the right process, begin with limited resources from that 12,000 salary, and eventually build a business that can generate a much higher income in the future. Alongside learning this skill, I am also sharing my thoughts and experiences on the forum. I hope you will find my post valuable and relatable.
Thank you, brother.
Yes, skills are important especially if you're starting up with lesser capital. Let's say, If you're a small business owner or still planning to start up, you have to learn it yourself first to understand the business you'll be doing. A lot of self-made entrepreneurs started by learning it first hand.
But if you have the capital to start big, you can start by just hiring people with skills. That you don't have to learn it directly since the one you'll be focusing on is how to manage and grow the business. Just like your example, they started small with fewer capital so they had to learn how to repair a bike since they'll be the one doing it themselves. But if you have bigger capital, you can hire other people who will repair bikes for your business. The thing you'll need to learn as a business owner is on the management side.
Skills may sometimes is never enough, you need to have at least an experience, expertise, and advance knowledge. Put these all together, and work intelligently, don't just rely in hard work. I promise you'll have better success rate, than just acquiring skills alone.
Some people feels the need to work at a company where their field of interests is at, before starting up their own business.
By doing so, it enable them to learn the ropes before even raising a capital to start their own.
Success doesn't always follow the most common path, sometimes it comes in the most unexpected ways, persistence might even be the key sometimes.
Any job requires skills, and that's understandable. It is not clear what success is here. After all, it's just a job, just like many other people. Even if the master works for himself, it's still a job. In general, the fact that skills are valuable is indisputable, but the name of the thread is somewhat misleading. Although on the other hand, I don't know what the general state of unemployment is. Maybe a simple job there is even valuable if the unemployment rate is high.