Success in the business world does not come easy. The businessman has to work continuously to make success come to him. Many have wondered what the formula of business success could be. The answers to this notion were too varied.
- Some said business success must be backed with investment.
- Some said it needs an out-of-the-box vision.
- Some said success is the culmination of hard work.
- And for some, it came because they were able to bend the rules in their favour.
I say business success comes to those who can blend all of these and can identify that one opportunity in this world that will bring them closer to a flourishing and continuously profiting business.
You must be wondering how one identifies something like this. For that, you need to do your homework, research the history and success rates of businesses and look around you. In the UK alone, there are hundreds and thousands of businesses that are operational and prospering. You need to find one that are bathing in prosperity the most.
One such sector is the manufacturing industry. You most definitely have heard of this and trust its success rate is one reason that you know of this area.
Understanding Manufacturing
Manufacturing means making things. These things can be anything, commercial goods, perishable goods or even food. It is usually done through from scratch using raw material. So, the manufacturing industry is a sector which produces products for consumption at a large scale.
A bakery can be the example of a manufacturing unit because it makes croissant, cakes and bread using flour as the raw material. Other examples can be clothing, electronic gadgets and even cars.
Phrases like mass-production and industrial production describe this sector correctly.
The manufacturing industry is divided into two categories;
- THE INTERMEDIATOR
These are the industries that produce goods from raw material to be used as raw material by other sectors.
Examples can be
- Fabric for the textile industry.
- Spare parts like bolts and nuts for the automobile and gadgets markets.
- Then there is the plywood used by the furniture markets and home-builders.
- THE FINISHER
These are the industries that make the products to be consumed by the end-user, instead of other industries. These are more common than the previous kind.
The examples of the finisher are
- The pharmaceutical industry, which manufactures medicines in the form of tablets and tonics.
- Paper production like notebooks, notepads, etc.
- Printing and publishing sector, newspapers, books and magazines are a part of this.
- Transport industry that can produce cars, trains and even aeroplanes.
One thing to remember about this sector is that it only produces tangible goods. Any form of services, be it banking or consumer care, is not a part of this industry.
The Income
I have been boasting about this sector’s success rate since the introduction. Now it is time to provide you with the facts regarding its success to ensure that you believe me.
- In the preceding year, the UK produced a yearly output of £192 billion, which is more than substantial.
- For the manufacturer, the average salary is about £33,000, which 4,000 pounds more than the country’s per capita income.
- The valuation of the UK’s manufacturing sector is at a jaw-dropping £393 billion or $519 billion.
- With an increased consumer demand, the growth prospects of this sector are very promising.
Now, do you believe me? With these facts and figures, I don’t think there should be a doubt.
Crisis and the Manufacturer
Talking about the current pandemic, the business world has experienced a downfall like never before. The money markets in the world as a whole have all but crashes. It would take us years to get back on track, and the crisis is nowhere near over for anybody.
However, there is one sector that is not suffering the fate as unfortunate as others, especially the service sector. Nobody would go out to get their nails done in the pandemic, but they would go out to get supplies, and the manufacturing industry provides these supplies.
So saying that it is operational when the entire world is on a lockdown would not be wrong.
The most productive areas in these trying times are
- The pharmaceutical industry, people are getting sicker by the day. To recover, they need medicine, which is supplied by the pharma companies.
- The food industry; both fresh and packaged. People are stuck in their homes, but they do need food to eat and survive.
- The sanitizer manufacturer; a sanitizer is the only preventive wall against the coronavirus. The more you sanitize yourself and your surroundings, the more are your chances of surviving the pandemic.
Apart from these, the manufacturer producing necessities, like toilet paper, masks and gas, also has a steady stream of income in the crisis. So, getting bad credit loans online instant decision is not something the manufacturer would have to think about.
WINDING UP
In the end, all I want to say is there is set the path for success. You would have to pave the way yourself. If following someone else’s success mantra can help you get closer to the success you crave, there is nothing wrong in that.
The manufacturing industry is a tried and tested success mantra that will keep showering you in its fruits even in the worst times.
