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Topic: Some things to consider before starting a business - page 16. (Read 5040 times)

sr. member
Activity: 434
Merit: 250
I think that trade is a job that requires a lot of factors, and it is tied to all the changes in the money market. For bitcoin and all altcoins, the value is always changing, we need to learn how to capture the moment accurately. In addition, we also need assertiveness to make timely decisions. Lastly, what you must have in order to be able to trade.
sr. member
Activity: 546
Merit: 258
I could either watch it happen or be a part of it
Having one's own business can be the biggest dream anybody can get into as far as achieving financial freedom is concerned. And we need more entrepreneurs who are willing to take the risks in realizing their dreams...these are the people who are contributing big to the country's economy and can start a ripple effect because there is a big chance they can be hiring people too.

However, getting into a successful business is not that easy that is we have to be prepared while we are making some risks. Risks have to be mitigated so the impact is lessen while the business potential for growth is maximized. I always have a big and deep respect for people who are risk-takers but knows what they are doing.

As the quote says "beginning is one of the hardest". At first we don't know which path or where are we going. Are we ready for this ? Or what if we fail? Fear of risks is natural but without it you'll gain nothing.


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  • 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.”
Thanks for the useful tips. The only part that I dont agree with is the part where it says that idea is not important. Why would idea not be important if it is the one where one's business will center or try to achieve? Idea defines what the one who started the business wants to achieve, what service or goods will he sell, and who will be the potential customer of the business therefore idea is also important.

In my own opinion, it refers to the actual things like " knowledge is only a rumour until it is in the muscle" and so they say. Idea alone is not enough and not important enough if it will stay as an idea. Entrepreneurship deals in making an idea and applying it into practice. Even the buoyancy is just a buoyancy until ships and canoe put it into application. Wink


full member
Activity: 218
Merit: 100
Thanks for sharing these information to me. Hope that it can help me to earn more money from my business. I have started many business but most of them do not give me a lot of money. Those tips might be a good solution. I am thinking about buying some book which can teach me more about opening business
hero member
Activity: 560
Merit: 500
  • 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.”
Thanks for the useful tips. The only part that I dont agree with is the part where it says that idea is not important. Why would idea not be important if it is the one where one's business will center or try to achieve? Idea defines what the one who started the business wants to achieve, what service or goods will he sell, and who will be the potential customer of the business therefore idea is also important.
sr. member
Activity: 2604
Merit: 338
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As an entrepreneur Your should have capital first, and you must familiar with the business which you are going to establish and it has to be a volume market. You are ready for the possibility that you may face when your operate, then had knowledge about how manage your own business.
You cant start if you dont really have the money to put on because if we are talking a business then money is the main thing here and we should not really rush things up because building a business is not easy and there would be lots of things to consider we should really make research on the business we would like to engage with because if we are rushing and dont know what we are doing then we would most likely failed and would go bankrupt easily on our business.
sr. member
Activity: 364
Merit: 250
Thanks for this really helpful information that all who wants to start their own business need. It really is hard to find a stable job nowadays. Lots of applicants are being rejected from the companies they are applying for that's why the unemployment rate is high. So I heard this advice in television just earlier and it said that if you don't have a job then you make your own job/business. And it's true I believe in it. And right now I am still hoping to start the business that I have always wanted.
hero member
Activity: 3010
Merit: 794
There are a lot of things to consider, you should consider the cost of operation, the profitability, the
evergreeness of the business(ability to generate money in all kinds of situation) and also you should consider marketing as this goes a long way
Yes, these are few of the things that one should consider before starting any business. You need to even consider your target audience and understand their psyche. You should know what your customers need and what other competitive brands are providing to them. Besides you should have good analysis of the market.
It's hard to start a business especially if it's not our forte, sometimes having knowledge is not enough, or having money only is not enough too. We both need it with proper analysis, weighing the circumstances and the possibilities. Having business is like having an ICO too. We need to convince people to trust us so we should do great work with passion.
You are right, those things wont really be enough specially if we dont really have the passion on this kind of venture but theres still possibility that you would still able cope up with that gap and might able to ride well along the way. Building business or starting it wont really be an easy thing since there are lots of things to consider first even if you do have the money and the knowledge it wont really be sufficient enough but somehow an advantage compared to those people who really start on 0 knowledge.
sr. member
Activity: 322
Merit: 253
Thanks for this shares of a well-organized tips on how to start a business. Have copied in my notes for reference and also for study purposes. It is not an easy thing to do business but with determination and adaptation to what is trend it will be starting point on that journey.

I want to be called as businessman someday. A well respected one not the scam entrepreneur. If I have enough capital I would start one on small scale first. I have an eye for a bitcoin related business someday.
sr. member
Activity: 462
Merit: 250
full member
Activity: 210
Merit: 100
There are lots of books, manuals and trainings you will find on how to start a business. But for me, one of the biggest contributors to be successful in starting a business, is the support of your own family. They are the one that will lessen your stress and they are the one who will watch your back.
sr. member
Activity: 503
Merit: 250
There are a lot of things to consider, you should consider the cost of operation, the profitability, the
evergreeness of the business(ability to generate money in all kinds of situation) and also you should consider marketing as this goes a long way
Yes, these are few of the things that one should consider before starting any business. You need to even consider your target audience and understand their psyche. You should know what your customers need and what other competitive brands are providing to them. Besides you should have good analysis of the market.
It's hard to start a business especially if it's not our forte, sometimes having knowledge is not enough, or having money only is not enough too. We both need it with proper analysis, weighing the circumstances and the possibilities. Having business is like having an ICO too. We need to convince people to trust us so we should do great work with passion.
legendary
Activity: 1176
Merit: 1016
There are a lot of things to consider, you should consider the cost of operation, the profitability, the
evergreeness of the business(ability to generate money in all kinds of situation) and also you should consider marketing as this goes a long way
Yes, these are few of the things that one should consider before starting any business. You need to even consider your target audience and understand their psyche. You should know what your customers need and what other competitive brands are providing to them. Besides you should have good analysis of the market.
sr. member
Activity: 854
Merit: 252
As an entrepreneur Your should have capital first, and you must familiar with the business which you are going to establish and it has to be a volume market. You are ready for the possibility that you may face when your operate, then had knowledge about how manage your own business.
sr. member
Activity: 491
Merit: 250
There are a lot of things to consider, you should consider the cost of operation, the profitability, the
evergreeness of the business(ability to generate money in all kinds of situation) and also you should consider marketing as this goes a long way
hero member
Activity: 2828
Merit: 611
Having one's own business can be the biggest dream anybody can get into as far as achieving financial freedom is concerned. And we need more entrepreneurs who are willing to take the risks in realizing their dreams...these are the people who are contributing big to the country's economy and can start a ripple effect because there is a big chance they can be hiring people too.

However, getting into a successful business is not that easy that is we have to be prepared while we are making some risks. Risks have to be mitigated so the impact is lessen while the business potential for growth is maximized. I always have a big and deep respect for people who are risk-takers but knows what they are doing.
Indeed! Running a business is never totally risk free and there are chances of going into loss if these risks are not tackled properly. Business demands a sharp mind and good communication skills besides having a sense of judging people well. We all should try to set up our own businesses to support the economy of our country.
sr. member
Activity: 1372
Merit: 261
Before starting a business the first thing to consider is what line of business you're going to take. Your business should offer the daily needs of people. With this idea, its a sure thing that you won't loss on your business.
sr. member
Activity: 309
Merit: 290
You should also have a good lawyer and a good accountant. Yes, there are cheap solutions to actually incorporate, LLC, etc. This isn't a bad way to save money on paperwork filing. However sooner or later you will need actual counsel and that's not when you should be hunting for someone.  Look around, get recommendations, or have a short chat. For new or perspective clients they don't charge, be up front that you're starting out and don't need them just yet. You'll know if it's someone that you may want to work with in the future, and they'll let you know if they have time to take on new clients or in your area of business.

Many places also offer mentors. The US small business association offers some. Local business groups often offer them. You can learn a lot from people who have been through starting and running a business. You could also join a business group just for this mentorship, also it's a good way to network.
hero member
Activity: 1372
Merit: 647
  • “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.”
For me, the idea is important as well because it will be started with that after all. It was said that ideas are a dime dozen, maybe, but it's hard to think of a UNIQUE one. Competitors are out there, so if you'll just develop and implement a common idea, that would be harder IMO.
Unique idea > Target Market > Capital > Develop & Implement Idea and so on.

This is a good read though to have some ideas / thoughts in starting a business.
sr. member
Activity: 686
Merit: 277
This is actually a good read and very informative especially for those who wants to start a business. Honestly I also wanted to put up a business of my own but I'm trying to read some articles and information about starting a business. You can't just wake up one day and say I'll withdraw money from the bank to start a business today, of course it needs to be premeditated at first.
For some businessman they consider the needs of customers unlike any other businesses that always thinks about their gains or income. It is pretty innovative to conduct surveys at the crowd and to what people mostly like, because in some point we cannot ignore the so called market competition that has always been in the economy, so before you should start business you need to be a little wiser.
I believe the most important thing to consider before starting a business is whether you have the audience or not. When I mean audience, I mean customers that will patronize your products; people that are ready to buy your products and services.
sr. member
Activity: 1008
Merit: 355
Having one's own business can be the biggest dream anybody can get into as far as achieving financial freedom is concerned. And we need more entrepreneurs who are willing to take the risks in realizing their dreams...these are the people who are contributing big to the country's economy and can start a ripple effect because there is a big chance they can be hiring people too.

However, getting into a successful business is not that easy that is we have to be prepared while we are making some risks. Risks have to be mitigated so the impact is lessen while the business potential for growth is maximized. I always have a big and deep respect for people who are risk-takers but knows what they are doing.
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