Topic: Some things to consider before starting a business (Read 5025 times)
Adequate knowledge, been innovative and knowing your consumers are the most paramount factors to consider before anyone should venture into business, a good knowledge about the business you are about entering will help you to no when to buy and when not to buy, where to buy, been innovative will help you to compete effectively, while knowing your targeted audience will help you will sitting your business.
Everything in your post is very fantastic. I just shared your lost with a colleague who is struggling to start a business.
I think the whole thing depends on having a realistic business plan considering factors such as the environment whete you want to set up the business and the nature of services you want to provide.
I think the whole thing depends on having a realistic business plan considering factors such as the environment whete you want to set up the business and the nature of services you want to provide.
the first is don't be easily scared and don't give up easily.
the second, not easy to be satisfied, because it can cause us to take small profits just to buy goods that are not important. it would be better if the investment is increased again.
marketing, this is very important as our strategy in seeing many situations.
the second, not easy to be satisfied, because it can cause us to take small profits just to buy goods that are not important. it would be better if the investment is increased again.
marketing, this is very important as our strategy in seeing many situations.
Before starting any business, you need to "look into the future". I mean, you need to understand what this business can bring to you, and if you are ready to deal with it for a very long time.
the first is don't be easily scared and don't give up easily.
the second, not easy to be satisfied, because it can cause us to take small profits just to buy goods that are not important. it would be better if the investment is increased again.
marketing, this is very important as our strategy in seeing many situations.
the second, not easy to be satisfied, because it can cause us to take small profits just to buy goods that are not important. it would be better if the investment is increased again.
marketing, this is very important as our strategy in seeing many situations.
Before starting any business, you need to "look into the future". I mean, you need to understand what this business can bring to you, and if you are ready to deal with it for a very long time.
Starting a business does not need any notes or things needed in order to be successful if you would like to start a small one. But, if you wish to start a huge capital business then it comes with a lot of things to consider. A one pager note will not going to be enough for there are so many considerations. That is why many of the new graduates will tend to be an employee rather than an employer because they know how hard it will be to start it. It needs time, effort and money to be successful.
The success is not depends on only your hard works it needs everything to be perfect and match it in your work it needs intelligence, smart work, talent, good thinking and making ability for your work so when all the things compared to your work will give the success at the end I think it definitely be in the right way also when you are starting a business.
Agree to that, there are several factors when having a successful thing so we must consider those. The abilities of a good person is also a factor so he/she can make all the plans work with a great strategy to meet the goals. Business is business, but you must consider a thousands of things to have a good business 
Very useful information for a person who wish to build a business. We can consider also yhe feasibility study, the place where the consumers are living, the competition and the demand of business in which it relies what business should we plan to start.
Today it is very competitive time where so many technologies are to support us we can use them to get financial freedom in any kind of business, but some are scammers as you have given solution for it is essential studies, try to increase your knowledge about what we are planning to start and never jump in river without knowing how to swim, investing in ICO and crypto is best option ever, try to choose the promising one.With crypto, you can start a lot of businesses and earn good amount of money. You can also do part time online work and earn in crypto.
Whatever business you're looking to start, the first and far most important thing is that you have full knwledge of it. Like if you want to start trading, you should have complete knowledge of it. Without knowledge you will only end up losing your money.
Yes you are right when comes to enter into a business are doing the business will not be a easiest way if it was not being comfortable way to get the the things properly will be not succeed in it so before starting a business we will definitely need to be more preplaned in everything.
The success is not depends on only your hard works it needs everything to be perfect and match it in your work it needs intelligence, smart work, talent, good thinking and making ability for your work so when all the things compared to your work will give the success at the end I think it definitely be in the right way also when you are starting a business.
This is an innovative reading. I currently have a permanent job, but besides having a permanent job I also want to have my own business, so before I start I often read articles which of course have something to do with the business world, because in my opinion it is very important for my learning.
Thank you! I've been reading a lot of articles about how to start a business because I really want to start one.
I have a stable job but I want to have my own business as well.
This is very informative.
before starting any business, any investment and must indeed understand all the risks that will be obtained by knowing all the risks investors can start safely and not experience a very large loss of course I have a stable job but I want to have my own business as well.
This is very informative.
the first is don't be easily scared and don't give up easily.
the second, not easy to be satisfied, because it can cause us to take small profits just to buy goods that are not important. it would be better if the investment is increased again.
marketing, this is very important as our strategy in seeing many situations.
the second, not easy to be satisfied, because it can cause us to take small profits just to buy goods that are not important. it would be better if the investment is increased again.
marketing, this is very important as our strategy in seeing many situations.
Very useful information for a person who wish to build a business. We can consider also yhe feasibility study, the place where the consumers are living, the competition and the demand of business in which it relies what business should we plan to start.
Today it is very competitive time where so many technologies are to support us we can use them to get financial freedom in any kind of business, but some are scammers as you have given solution for it is essential studies, try to increase your knowledge about what we are planning to start and never jump in river without knowing how to swim, investing in ICO and crypto is best option ever, try to choose the promising one. 
Even if you follow the business fundamentals correctly there’s no guarantee that you can hit the jackpot in return. Doing a successful business requires planning and effective execution. If you love what your doing and your passionate about it, it will reward you in return. Just like getting involved crypto if you know what your doing and know your investing there’s a higher chance that you will succeed in return.
Business is completely different from investments,in business you need to put your effort mentally and physically to get succeed but on investments you need capital and skills to find the product which is going to make you successful. The most important thing that one to consider when putting up business is capital. Well some would say that even if there is low capital if one who do the business is well discipline it will be able to grow the business and yes they are right but in my way if i have to put up a business i should need a huge capital to work things out completely doing business.
In my opinion, capital does not have a big impact on starting a business, but an opportunity because without a business opportunity it will not run smoothly. The profits earned will be hampered. Whatever the initial capital to do business without opportunities is the same, meaningless.then your ideas is only a thought and is useless, make a plan and collect capital, then start it!
Well theres so many things will be consider to start a business because if your not prepared in many things it may cause of unsuccessful business. Like in crypto before they do a project and do everything that needs in the project because they want the project will be successful.
I think from the many cryptocurrencies that are created then you must be able to find coin projects that are truly beneficial and can have potential price increases, not to buy coins that don't have good development.
Very useful information for a person who wish to build a business. We can consider also yhe feasibility study, the place where the consumers are living, the competition and the demand of business in which it relies what business should we plan to start.
Well I just want to share some information regarding on how to start a business because as we can see, we are all want to have a stable business and we want to be a very good entrepreneur someday because if we're just working and working to earn money then if we can't work anymore we won't be able to sustain our needs anymore. I think this is worth reading especially those who are planning to build an ICO or a project. I've got this from my professor on college :
NOTE-REFERENCES : Webster’s College Dictionary (Random House/McGraw Hill)
What is an Entrepreneur?
Entrepreneur: A person who organizes and manages an enterprise, especially a business, usually with considerable initiative and risk.
Initiative: Readiness and ability in initiating action.
Risk: The hazard or chance of loss.
NOTE-REFERENCES : The Portable MBA in Entrepreneurship, 2nd Ed.; William D. Bygrave, Editor. John Wiley and Sons Publishers, 1997.
What Does it Take to Be Successful?
Think about WHO is going to want your product/service, what they will PAY for it, what you will NEED to carry it off, and how you will MAKE MONEY someday. That is, make a PLAN.
Success depends on
positive cash flow, growth,
and value creation.
Owners and investors who forget that tend to get “naturally deselected.”
The Importance of Value Creation
Value is delivered to your customers when you do something for them
Better
Cheaper
Faster
Cooler
Different
However, it is likely that none of these will work for long, so continuous improvement and innovation are essential.
Value is created for the owners when:
-You do more with their money than they could do with it themselves
-You invest in productive activities that earn rates of return greater than their risk-adjusted costs of capital.
-The present value of future cash flows exceeds the startup costs.
Value is created by:
-Exploiting proprietary physical resources
-Possessing proprietary knowledge or expertise
-Creating a new or improved product, process, or service
-Staying ahead of the competition through constant improvement and innovation
Planning for Success
-Don’t plan a business for today – Plan it for at least a year from now.
-Moore’s Law: Computing power will roughly double every 18 months.
-Bandwidth will continue to increase for most users almost ad infinitum.
-People will live longer and maintain active lifestyles far after retirement.
-Energy sources and consumption patterns will change drastically.
-The world will continue to be a very dangerous place.
How To Not Get Funded
-Have a half-baked idea
-Have a meatless business plan
-Can’t articulate your value proposition
-Can’t identify your market potential
-Can’t justify your sales projections
-Can’t show your investors an exit
-Can’t show your investors a reasonable expectation of a reasonable return on investment
-Don’t think about risk
-Take no risk yourself
-Don’t take time to do your homework
-Try to fund a “lifestyle” venture
Funding Your Venture
-The hardest funding to raise is the first funding. You are probably on your own.
-Later funding gets progressively easier depending on the results you can show to investors and what you need to fund.
-BANKS are probably not going to help.
-The best funding is INTERNAL funding (reinvested earnings).
-PRIVATE EQUITY is the current buzzword for the major capital source for business ventures.
Closing thoughts
picture source :https://wealthygorilla.com/23-wise-warren-buffett-quotes-on-success/
NOTE-REFERENCES : Webster’s College Dictionary (Random House/McGraw Hill)
What is an Entrepreneur?
Entrepreneur: A person who organizes and manages an enterprise, especially a business, usually with considerable initiative and risk.
Initiative: Readiness and ability in initiating action.
Risk: The hazard or chance of loss.
NOTE-REFERENCES : The Portable MBA in Entrepreneurship, 2nd Ed.; William D. Bygrave, Editor. John Wiley and Sons Publishers, 1997.
What Does it Take to Be Successful?
- “In entrepreneurship, luck is where preparation and opportunity meet.”
- “The idea is not what is important. In entrepreneurship; ideas are a dime a dozen. Developing the idea, implementing it, and building a successful business are the important things.”
- “Would-be entrepreneurs who are unable to name customers are not ready to start a business. They have only found an idea and have not yet identified a market need.”
- Somehow, someday… you are going to have to earn POSITIVE CASH FLOW. You need more than a revenue model (but you do need that). You need a VALUE model.
- Market share is great, but you can’t pay bills with it.
- You can do some financially stupid things to build market share.
Think about WHO is going to want your product/service, what they will PAY for it, what you will NEED to carry it off, and how you will MAKE MONEY someday. That is, make a PLAN.
Success depends on
positive cash flow, growth,
and value creation.
Owners and investors who forget that tend to get “naturally deselected.”
The Importance of Value Creation
- A successful business is one that delivers value to its customers and creates value for its owners.
Value is delivered to your customers when you do something for them
Better
Cheaper
Faster
Cooler
Different
However, it is likely that none of these will work for long, so continuous improvement and innovation are essential.
Value is created for the owners when:
-You do more with their money than they could do with it themselves
-You invest in productive activities that earn rates of return greater than their risk-adjusted costs of capital.
-The present value of future cash flows exceeds the startup costs.
Value is created by:
-Exploiting proprietary physical resources
-Possessing proprietary knowledge or expertise
-Creating a new or improved product, process, or service
-Staying ahead of the competition through constant improvement and innovation
Planning for Success
-Don’t plan a business for today – Plan it for at least a year from now.
-Moore’s Law: Computing power will roughly double every 18 months.
-Bandwidth will continue to increase for most users almost ad infinitum.
-People will live longer and maintain active lifestyles far after retirement.
-Energy sources and consumption patterns will change drastically.
-The world will continue to be a very dangerous place.
How To Not Get Funded
-Have a half-baked idea
-Have a meatless business plan
-Can’t articulate your value proposition
-Can’t identify your market potential
-Can’t justify your sales projections
-Can’t show your investors an exit
-Can’t show your investors a reasonable expectation of a reasonable return on investment
-Don’t think about risk
-Take no risk yourself
-Don’t take time to do your homework
-Try to fund a “lifestyle” venture
Funding Your Venture
-The hardest funding to raise is the first funding. You are probably on your own.
-Later funding gets progressively easier depending on the results you can show to investors and what you need to fund.
-BANKS are probably not going to help.
-The best funding is INTERNAL funding (reinvested earnings).
-PRIVATE EQUITY is the current buzzword for the major capital source for business ventures.
Closing thoughts
picture source :https://wealthygorilla.com/23-wise-warren-buffett-quotes-on-success/
I somehow agree to your ideas above but i can share another technique that I learned from a multi millionnaire Dan Lok. He is known to have a triangle rule or anything, i forgot the exact name. It is stated there that first you should develop your high income skills, second make your investment and third build your business. This is more strategic since you have the foundation in case your business fails. You can build it up again since you have the high income skills.
Even if you follow the business fundamentals correctly there’s no guarantee that you can hit the jackpot in return. Doing a successful business requires planning and effective execution. If you love what your doing and your passionate about it, it will reward you in return. Just like getting involved crypto if you know what your doing and know your investing there’s a higher chance that you will succeed in return.
I think this is very useful for investing in ICO. Usually the launch of ICO project is also the beginning of entrepreneurship. You can judge the quality of ICO through these experiences. But I am not suggesting to invest in ICO.
for now, investing in ico is still very risky, this is indeed because of the decline in the price of bitcoin. but I think there are still many qualified ico, for that we must be good at analyzing so that we don't get caught up in the scam ico. therefore we have to learn a lot to become experienced ivestor ico Jump to: