Topic: Some things to consider before starting a business - page 20. (Read 3793 times)

as i see, you will get a lot benefits by providing service for many important and vital business, they will be dependent to you and become your permanent customers. targetting direct customers which are consist from individual is just side job for a service to get little additional money, providing service for business is the real opportunity.

I agree with you, demand and location of business could be a huge factors  that affect your business income. If you intercept that, you have a possibility for great output and flow of your business.

Starting of business is very good activity but requires lot of efforts.  The things to be considered are which kind of business one has to start.  Its market value., their benefits,  its potential to earning money etc are necessary.  Competition in market is also necessary to consider.  Our budget to invest money and how much returns one can get through that business are the things to be considered.  Workers their salary,  shop rent are the major points which are accountable.

I think it's important to learn a lot about the market, about the environment. Especially in the cryptocurrencies environment, which is quite complex, with so many coins, assets, and things to handle properly.

Doubtless experience and team are main factors of the business process. I'm more for the strategy and idea. But the first stage would be creating of a business plan where you can see all costs and future profits. lettered business plan do the third part of the whole thing.

Before starting a business, you should think that you must be committed on this and you won't just let go of it. Consider first the needed things, your capability, and you must have many plans about your business. Get an advice from an expert on what you want to focus in business and have different partners who can help you and which you can help too. Your budget is also important to consider and your target audiences. Be smart in making decisions especially if you are a beginner.

Expertise in the nature of business you want to start must be considered also.  You must love  and enjoy doing whatever the nature of business you want to engage. Consulting trusted people around you regarding your plan in engaging business and listening, understanding, and internalizing their suggestions and advise is advisable. Make an exit plan or try to answer this question "What will I do if the business I started fail or does not work according to my expectation?", in other words, make a back-up plan.  But above all, tell God about it and ask for His guidance.  

There is no paying site in cloud mining world except genesis or hashflare. They are also going down now a days which was anyway supposed to happen because it is not profitable in long run for the cloud miners as well as customers who invest money into it. You will find most of the people getting scammed about the cloud mining contracts because these sites simply do not pay them and sometimes few of the sites will pay in the initial month or so to get the trust of customers and when these customers invest more then these site shut down forever. So be aware of new sites as well because it has gone wild now a days.

It's not that easy as to read the four lines of your topic. Business is something bigger and the whole thing takes time and unwanted risks on the path we choose. It has to be well structured and the target must be set before start if the business. If you are alone then calculate the risks which can disturb your personal life savings and if you are partnering then calculate the divided risk involved. Always look for trusted funding options for your business such as bank. The biggest step then comes the establishment of proper name, logo, and man power which will be related to your business itself.


Then comes the marketing scene which can be very difficult in long run. It's better to workout the math and then proceed with all the business stuff.

For me the first thing i must check if there's demand for the product in the location that i planned to open the business. After that don't run it with "i will make lot's of money" in the first month as it will dissapoint you and make you frustated. The start is always hard but if you manage to overcome it then your business will slowly start to grow.

I think there are some things that should be consider before starting a business.
1. Determine what type of business entity we want to create.
2. Determine who our target in the market.
3. Determine the name of the company that attracts people.
4. Create a mature business plan. From small things to big things.
5. Must have the funds, if not, determine the source of our funds, to whom we will do the cooperation.
6. Make certificates and legal documents, about the company we make.

To start new business you must have working capital because its easy to plant new machinery but then you will in great need of working capital

Currently, no business may be compared with the income from investments in bitcoins. Enjoy the moment. So it's not always. Sooner or later, this window of opportunity closes. Then you will have more starting capital and you can easily start your business.

1. to know your target customers, the demographics of a certain location can help you pick what type of business is really needed
2. your location must be surrounded with a lot of people
3. budget- i think it'll be better to start with a small capital then if its a success you can gradually make your business bigger (low risk)
4. you must have a unique concept-- a selling point

and although its not necessary, open a business where there are fewer rivals

There is much knowledge required to run a business successfully, but two tips I'd give are:

Think of failure has a learning experience, you've found one way not to make money but there are millions more ideas out there.

Be careful with focusing too small, you might have a great idea but demand might be too tiny to make it profitable.

There are sometings you need to consider before putting up a business. Here are some tips from me:
 1. What business do you really want to pursue?
 2. You need to be always positive.
 3. You need to be brave to take a risk.
 4. You need to have a exact financial savings.
 5. You need to check the place that is better for your business.
And there are many more. So you must be sure and wise before starting a business.

I think if you want to start a business you should know what is the focus why you start it, have some capital, know the consumers for example if they will patronize your business or not. In business you should know the traffic because that is the very important aspect for starting a business and read some reviews, guides and the know-how to start a business in the very first place.

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

Business almost always have some risk in it, just like any other investment. Of course there a ways to reduce this, such as a feasibility study, marketing plan, etc, all before starting the business.

Try to think of your self as a cicada that spent a decade underground, waiting for that day you'll grow wings and fly.

Should need consider before start the business. Business need more attention than job. Because if you have a skills and you are pretty good in discussion with anyone then you could do business. Otherwise, if you are shy person and have no confident to deal with customers then you couldn't get success in your business still you have a knowledge about your items. But skills, money and confident is must you need to start any business.