How Selling Scrap Could One Day Become Big Business?

As the old saying goes, “one man's trash is another man's treasure.” True enough, that is the case for scrap metal selling. If you have ever hear of Stephen Greer, you might be inspired to get started with your own scrap metal business. He turned his scrap metal business into a $250 million success before selling it in 2005. He wrote a book that everyone looking the possibility of selling scrap metal and turning it into a big business should read. In his book titled “Starting from Scrap: An Entrepreneurial Success Story” you will learn the trick to making your vision a reality. Here are the most important tips he has to share for scrap metal sellers:

Seize the moment before somebody grab it

He pointed out in the book that the great entrepreneurs that ever lived in the planet are the risk takers. You can have the greatest idea in the world but if you don't execute them, your idea is nothing. If they are thinking of starting up as scrap metal buyers, now is their time to build a foundation. Stop planning, start making sense. Don't just read that book. Push yourself to do what you should to make that idea in your mind a reality.

Choose the best location for your business

Greer started up his business in Hong Kong. He attributed the success of the business to the location and time he put the business up. He saw that Hong Kong is a place for possibilities and it is a growing market for a lot of fields. You should take into consideration where you want your business to be put up. The location is vital for every entrepreneurs. You should look into a city's marketability and consumer reception.

Luck is the aura you create about yourself

Stephen acknowledges that luck is not some cosmic happening that results to a situation favorable to you. He believes that luck is a stick-to-it mindset. You don't hope for something then when it did not work out you jump to the next strategy to hope for. That don't work like that. You have to believe the initial plan and hope it will succeed.

Dream with a clear vision

When he stated his scrap metal business, he had clear vision of the dream. He had a plan how he wanted to end it or to exit. He had everything in mind before establishing the business: the capital, strategic partner, IPO story, strategic acquisition, insurances, etc. You need to plan all of these things before jumping in the train.