How you define the term ‘profit’ in terms of the changes that Hussain adopted to move one business to another Essay Example for Free

How you restrict the margin profit in terms of the alternates that Hussain adopted to move one stage business to an different EssayQuestion 8 How you define the term profit in terms of the changes that Hussain adopted to move one business to another?The term profit that Hussain earned when he changed from one to another business is the result of success as he willing to take chances and risks. He started from zero and his creative business minds be the ladder of sucess to him. A rush of challenge that he had faced make he became a broad entrepreneur nowaday. He had struggled very much to expand his business in other word to change and overcome his miser adapted circumstances. We discharge think the profit that Hussain gained from his small business as chocolates hawker to became an entreprenuer is started with his first subaltern step. He started the business with exchange chocolate at the market for the beginning of his business is because he pauperism help his fami ly. As the bread earner replaced his illness father, he must search income to support pukeonic needs of the family. He is lucky because although omans economy grow at thelower level those day, his small business still growing faster. But, due to the rising price index, he had difficulty to make ends meet. This difficulty had act as him to another business which gave him more profit than the profit of chocolate sale. He found a natural avenues in business by started selling oblige. When he make a comparative analysis among the two product, chocolate and accommodate, he realized that the percentage profit he gained by selling a concord is very high than selling a chocolate. He use this impregnable opportunity to change his business from a chocolate hawker to become a bookseller. So, he gained more profit. From this changes, we can break the profit that he had gained by changing the product. Then, Hussain not longer selling chocolate. He focused to the book sale. He had found a new way of a profitable business by selling book. But, he faced difficulty to bring in many book everyday and return with them the next day. This point leads him to find the alternaltive to solve this problem. Finally, he got a brilliant idea. He make a decision to qualify his late fathers steel workshop where are had rented to become a bookshop. He soften to convince his uncle that idea and because his sophisticated way of looking at thing differently made his uncle majestic and agree with him. So, husin managed to open his own bookshop and it became the first bookshop in the village. he was the sole book seller at his village and this situation had bring him to became a sucess book seller at the village. So, we can see the improvement that he had done by change the wayof his business from a book hawker to became an owner of bookshop. Hussains teacher had make he thought a new great idea.It started when his teacher gave him a mission to buy some gifts at the market. hussain brought the required gifts as his teacher pronounce but with a cheaper price. Another teacher heard about that and asked him to do the aforementioned(prenominal) ones. This condition made he think that he should selling the same product as the teacher want. This idea bring him to provide products that were used as gifts such as pens, pencils, notebooks and other schools needs. Since that, he became familiar not only at his school but also in other schools. He able to explore more opportunity in businees by convinced the school to buy from his bookshop. So, from this we can see that he was success in converting the bookshop concept to became more wide concept. Hussain again change his business. He sold his bookshop with high price then he opened a new company. He established a new company for office supplies not far away from the bookshop. This is a good techniques for him as a alternative to reduce the be at once increase the profit and income. Because the purchaser of booksho p can not go through the business challenge, he failed and unlikeable the bookshop permanently. Hussain closed the new office and reopened the bookshop. He relocated the office that he had closed in the bookshop for religious service wholesale. But the bookshop still served individual customers. So, customer can buy from the bookshop and at the same time, the wholesale buyers can see the product and test them before placing order. He can reduce the cost facilitate his work. Finally, hussain succeeded to convert his bookshop into a big company for office supplies. With the new technology reasonable entered the country made his work more easier. He started provide new office equipment suah as printers, photocopies and other related devices to the customers. Then, he became a major supplier of various stationery and office suplies. His company was actual with very advanced and he became an icon for leadership and entrepeneurial fields. We can see the high profit that hussain gained when he convert his bookshop into a big company. For the conclusion, from this case, Hussain who is the Sultanate of Oman have proved that hardship make people stronger. He proved that people can earned more profit if they are wise in fetching opportunity and willingness to take risks in business.