Before you venture into any business you most be prepared to study every information about that business and also trying to develop your skills about the venture you want to embark. I am making a living online currently because I learn about forex trading since 2009 and transfer my knowledge to bitcoin and cryptocurrency this year. Your skill is your business future and I will also advise you to focus your mind on cryptocurrency business related.
Of course, having a huge knowledge on your business plan is vital thing you should must. Without this, you gonna make your business into falling. Getting involve in crypto business is totally different in running business outside, but still needs passion and dedication toward it. 
Topic: Some things to consider before starting a business - page 18. (Read 3761 times)
Consider your budget. How much budget do you have for starting a business? Is the location accessible to consumers? How about the competitiveness with other business? As what we always say, we should know who our market are and analyze what business may be indemand with that market. And strategic plans will follow.
Aside from this, you must consider also of having good team and enough personnel for the opening of your business. Because it is important that the customers would have a delightful experience at first. So they can tell friends about this and it could increase the number of customers. First impression is very important and it could attract more. 
I can not understand what you mean with "the number of business opportunities does not necessarily allow us to choose and run the business we want"?
Can you please elaborate more precisely what do you mean here?
Whether you are able or not to start a certain business does not rely on the excisting number, but what the local laws/restrictions say and if you have the required resources to start that business.
Can you please elaborate more precisely what do you mean here?
Whether you are able or not to start a certain business does not rely on the excisting number, but what the local laws/restrictions say and if you have the required resources to start that business.
I also want to stary up my own business and I think the most important thing you need to consider first is the nature of business you will going to have its important that it must be the things you love and want to focis with sometimes the best business is somethinh that you always want to do because you will focus your time and effort so it must be something you love
Consider your budget. How much budget do you have for starting a business? Is the location accessible to consumers? How about the competitiveness with other business? As what we always say, we should know who our market are and analyze what business may be indemand with that market. And strategic plans will follow.
Of course who need to have a budget before opening a business. Any business minded people prioritized having a full budget or capital before opening or operating a business. And besides you need to register and get a business permit before operating so you got to have money then. So its easier said than done. But for those who have already in business, its just part of the equation, the next thing you need to understand is that if your capital can sustained your business. Because if not then your business will just die naturally. You need to have a buffer just in case the in the first or couple of months you don't have customers. So at least you have something to pull to cover the cost of your initial operations.
I think the first one we should consider is the fund available for the business. Passion can be followed if we have enough fund for it but if we are lacking fund then we can try to look for an alternative. We should also make a research about trends and what is the current in for short to mid term businesses. Aside from that we should also consider the availability of the materials needed in setting up the kind of business we will establish.
All these things are very much valid at their own place. As far as I think about the things which you need to consider, the first thing I will suggest is none other than the correct choice of the business. You need to think well before making any final decision. After that, you have to learn well about that business for better future.
In my country, every shopping like open on Facebook only, cause they can maximum their profit . No more rent for selling, you can stores goods at your own house, when they're ordering for just shipping for them. No more tax cause their business is online. Goverment can't tax on it cause there is no bill. Haha
Consider your budget. How much budget do you have for starting a business? Is the location accessible to consumers? How about the competitiveness with other business? As what we always say, we should know who our market are and analyze what business may be indemand with that market. And strategic plans will follow.
I think the first one we should consider is the fund available for the business. Passion can be followed if we have enough fund for it but if we are lacking fund then we can try to look for an alternative. We should also make a research about trends and what is the current in for short to mid term businesses. Aside from that we should also consider the availability of the materials needed in setting up the kind of business we will establish.
I think investment is the very first thing to do before starting any kind of business. You surely need a good amount of money if you want to establish your own business.
In my opinion, the very first thing you need to consider before even starting of business is making the right choice of which business to start.
The first thing you need to do when you decide to have a business is to consider what is your passion or what do you want to do because even if you are in losses when the time comes, you will still be determined to work because you will not just consider it as a job but a passion and you will not easily waiver when there will be difficulties coming your way. Next to consider is the location. You should consider if your location can be easily accessed or the people can easily see it because if they don't know you have that kind of business then it would just be a waste of time. You should have feasibility study first so that you will know if the business you are planning will have customers or may be in demand in the future. After this, you can find then a capital to your business maybe find investors or fund it yourself.
1. Do not invest your own money
Since most businesses are risky, seek partners. So, if things do not go all the way, you will not go bankrupt because of the start-up funds, and not pursued debt.
2. Work hard
If you are not willing to work hard, overtime, forget personal gain and health, then entrepreneurship is not for you. At first, you definitely will not be able to pay employees, even if the employees are cheap. So, your employees are your own.
3. Use the latest technology
New technologies such as applications and data storage with cloud technology are very cheap and make small companies able to compete with large companies. Take advantage of low cost technologies on the market.
4. Respect the time
Rate the money in your time, for example Rp20 thousand per hour. This will help when you have to make a decision: If a store charges Rp10 thousand for shipping every week, and it takes you 2 hours to go to the store itself, then pay for the postage from the company, because it is cheaper.
5. Realistic
When creating a business model, look around and look for a successful example of the business model you want, then learn. If you can not find, whether you are an incredible genius, or your business model will not work in the real world.
6. Sell excess, not price
You start a business, you are naturally frustrated marketing it. But, if you compete on the price, you will end up selling at barely or even under capital. Master the skills of communicating with customers, to explain that your product price is higher because it has a better value
You have elaborated all the necessary points in a very good way. I will definitely agree to what all you have said. I think before doing up anything or starting any business, you need to have a good knowledge about that business. Since most businesses are risky, seek partners. So, if things do not go all the way, you will not go bankrupt because of the start-up funds, and not pursued debt.
2. Work hard
If you are not willing to work hard, overtime, forget personal gain and health, then entrepreneurship is not for you. At first, you definitely will not be able to pay employees, even if the employees are cheap. So, your employees are your own.
3. Use the latest technology
New technologies such as applications and data storage with cloud technology are very cheap and make small companies able to compete with large companies. Take advantage of low cost technologies on the market.
4. Respect the time
Rate the money in your time, for example Rp20 thousand per hour. This will help when you have to make a decision: If a store charges Rp10 thousand for shipping every week, and it takes you 2 hours to go to the store itself, then pay for the postage from the company, because it is cheaper.
5. Realistic
When creating a business model, look around and look for a successful example of the business model you want, then learn. If you can not find, whether you are an incredible genius, or your business model will not work in the real world.
6. Sell excess, not price
You start a business, you are naturally frustrated marketing it. But, if you compete on the price, you will end up selling at barely or even under capital. Master the skills of communicating with customers, to explain that your product price is higher because it has a better value
Look out for Product, People, Price and Place. All these things will be affecting the most and this will decide how much profit you will get.
In my opinion, the very first thing you need to consider before even starting of business is making the right choice of which business to start.
Now we can see a lot of business opportunities that exist around us, be it pure online business or offline business that is go online. However, the number of business opportunities does not necessarily allow us to choose and run the business we want.
There are a few things we need to consider and start preparing the business prepares capital, the second prepares the workforce, the third is the provision of raw materials as well as the techniques in running the business, marketing the business optimally, then profit a business, risk a business, concerning business competition and pay attention to the latest business management is the facility and the fringe
You need to consider factors such as; is your business,timely?; would it give you assured profit?; would it be a long term business?; and who will be its target customers. Ofcourse, when starting a business you should be futuristic and those things will matter. Your business should be timely to make sure that it will be admired by people. It must be for long term business and it should give you assured profit and you will know it if you will do some research to have some insights about your planned business. There are a few things we need to consider and start preparing the business prepares capital, the second prepares the workforce, the third is the provision of raw materials as well as the techniques in running the business, marketing the business optimally, then profit a business, risk a business, concerning business competition and pay attention to the latest business management is the facility and the fringe
In order to be successful, you need to find a good development team because without that it is not possible to deliver the product you desired. The product you are concentrating should attract people and should be completely different from the other. yes, forgetting awareness you need to do advertising and marketing materials with other experience people.
1. must real read about your business
2. ask for effective for long time
3. try to have smart team
4.dont think to make fast money
2. ask for effective for long time
3. try to have smart team
4.dont think to make fast money
maybe i just add a little to start a business :
1. think of good techniques to start a business
2. choose a strategic place to run smoothly
3. Create a vision and mission in the business
Let me add some more to start a business and to become successful:
1. Consider the product you want to sell.
2. Make sure that the place of your business is easy to see and many people around.
3. Make a strategic plan for your business
4. Conduct a survey or observation to know what products or goods suitable on your selected place.
Now we can see a lot of business opportunities that exist around us, be it pure online business or offline business that is go online. However, the number of business opportunities does not necessarily allow us to choose and run the business we want.
There are a few things we need to consider and start preparing the business prepares capital, the second prepares the workforce, the third is the provision of raw materials as well as the techniques in running the business, marketing the business optimally, then profit a business, risk a business, concerning business competition and pay attention to the latest business management is the facility and the fringe
Yeah it seems that you are right. We really need capital for us to start a business. Having a big capital is more better because we can generate more profit if we start a business with a high capital. There are a few things we need to consider and start preparing the business prepares capital, the second prepares the workforce, the third is the provision of raw materials as well as the techniques in running the business, marketing the business optimally, then profit a business, risk a business, concerning business competition and pay attention to the latest business management is the facility and the fringe
1. must real read about your business
2. ask for effective for long time
3. try to have smart team
4.dont think to make fast money
Exactly, don't think to make fast money or be profitable by tomorrow. Because 1-12 months is just a recovery of all your expenses and at this stage you are still making some adjustments and innovations that can make your business hit by the community. And after this, you gonna start earning profit. Good management is a key for a great success in any business, so make sure you have that. 2. ask for effective for long time
3. try to have smart team
4.dont think to make fast money
I would say that everything starts with an idea. If your idea is good, and when i say good i mean realistic and not some fantasy thing, than you are on good path. After acquiring good idea you must think about how to execute it and does the place you live in needs that. You need to think how much money you need from start and things to come after opening. Basically you need to put everything on paper and really think true it, and when you done that... well think again. If you put risks on minimum that is best you can get, there must be some risks in life.
Now we can see a lot of business opportunities that exist around us, be it pure online business or offline business that is go online. However, the number of business opportunities does not necessarily allow us to choose and run the business we want.
There are a few things we need to consider and start preparing the business prepares capital, the second prepares the workforce, the third is the provision of raw materials as well as the techniques in running the business, marketing the business optimally, then profit a business, risk a business, concerning business competition and pay attention to the latest business management is the facility and the fringe
There are a few things we need to consider and start preparing the business prepares capital, the second prepares the workforce, the third is the provision of raw materials as well as the techniques in running the business, marketing the business optimally, then profit a business, risk a business, concerning business competition and pay attention to the latest business management is the facility and the fringe
For me, having a pretty decent capital and knowing and having a solid plan would be the most important. All else would follow asong as you know what you're doing. Having that knowledge would allow you also to make calculated risks that usually is needed especially when you're just starting up
We must put what op has said into consideration before starting any business. I will also like to say that the most important thing to do before commencing any business is to develop your skills and knowledge including understand of the certain business you want to embark on.from there you can now add on recommendation op has provided. hope this help!
1. Do not invest your own money
Since most businesses are risky, seek partners. So, if things do not go all the way, you will not go bankrupt because of the start-up funds, and not pursued debt.
2. Work hard
If you are not willing to work hard, overtime, forget personal gain and health, then entrepreneurship is not for you. At first, you definitely will not be able to pay employees, even if the employees are cheap. So, your employees are your own.
3. Use the latest technology
New technologies such as applications and data storage with cloud technology are very cheap and make small companies able to compete with large companies. Take advantage of low cost technologies on the market.
4. Respect the time
Rate the money in your time, for example Rp20 thousand per hour. This will help when you have to make a decision: If a store charges Rp10 thousand for shipping every week, and it takes you 2 hours to go to the store itself, then pay for the postage from the company, because it is cheaper.
5. Realistic
When creating a business model, look around and look for a successful example of the business model you want, then learn. If you can not find, whether you are an incredible genius, or your business model will not work in the real world.
6. Sell excess, not price
You start a business, you are naturally frustrated marketing it. But, if you compete on the price, you will end up selling at barely or even under capital. Master the skills of communicating with customers, to explain that your product price is higher because it has a better value
You have elaborated all the necessary points in a very good way. I will definitely agree to what all you have said. I think before doing up anything or starting any business, you need to have a good knowledge about that business. Since most businesses are risky, seek partners. So, if things do not go all the way, you will not go bankrupt because of the start-up funds, and not pursued debt.
2. Work hard
If you are not willing to work hard, overtime, forget personal gain and health, then entrepreneurship is not for you. At first, you definitely will not be able to pay employees, even if the employees are cheap. So, your employees are your own.
3. Use the latest technology
New technologies such as applications and data storage with cloud technology are very cheap and make small companies able to compete with large companies. Take advantage of low cost technologies on the market.
4. Respect the time
Rate the money in your time, for example Rp20 thousand per hour. This will help when you have to make a decision: If a store charges Rp10 thousand for shipping every week, and it takes you 2 hours to go to the store itself, then pay for the postage from the company, because it is cheaper.
5. Realistic
When creating a business model, look around and look for a successful example of the business model you want, then learn. If you can not find, whether you are an incredible genius, or your business model will not work in the real world.
6. Sell excess, not price
You start a business, you are naturally frustrated marketing it. But, if you compete on the price, you will end up selling at barely or even under capital. Master the skills of communicating with customers, to explain that your product price is higher because it has a better value
Look out for Product, People, Price and Place. All these things will be affecting the most and this will decide how much profit you will get.
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