Some things to consider before starting a business - page 21.

dothebeats

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Quote from: olushakes on September 08, 2017, 06:30:50 AM

Quote from: Sabar90 on September 07, 2017, 08:13:47 PM

-snip-

All you have listed are practically what every business by default knows but at the same time, while some succeeds some others fail and stop existing. Either way, one basic thing to have is understand the need you want to fill as a business inclined individual and clearly state your target market because without these every other thing becomes impracticable.

Of the 100% of businesses, only 5% remains successful as the remaining 95% have already given up and chose to just close shop. The key thing is to first know if there's a demand for such a service/product before starting to build one. That's basically what's wrong with those who closed shop: they haven't researched too much on their target market that's why they ended up in a flop. Also, from what I'm seeing on today's markets, one product goes in trend and many shops market the same product without innovation. That will greatly saturate the market ending up in great competition, so the best possible thing to do is to think of something unique before setting up your own shop. Innovation is a big edge in creating a business, as people would be curious in your product and end up trying it and *might* like it.

olushakes

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Quote from: Sabar90 on September 07, 2017, 08:13:47 PM

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

All you have listed are practically what every business by default knows but at the same time, while some succeeds some others fail and stop existing. Either way, one basic thing to have is understand the need you want to fill as a business inclined individual and clearly state your target market because without these every other thing becomes impracticable.

fishbonez11

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Quote from: Sabar90 on September 07, 2017, 08:13:47 PM

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

Besides from what was mentioned, you need to know who is the target market of your business, competitors, location, suppliers if any, expenses, compute a timeline wherein you will get back your investment and profit, and recent business trends.

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Quote from: DrGuns4Hands on September 08, 2017, 05:39:09 AM

when i started a business ofcourse i search over the net what is the most demand kind of business and after that i ready my capital ofcourse you need to start with a capital in order to run a business third thing was processing your business papers after that you'll going to study the business and just enjoy your business don't think about getting a huge profit since you're just starting.

There are lot's of things to consider whenever were starting or even just by having a business big or small.
The 4W's should be answede as well as the H, Who will be the customers, What will be the business itself, when will be the right time for it's demand or schedule, where will be it placed and how can it be successful. Setting a business is difficult yet if were into it we can make it.

DrGuns4Hands

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when i started a business ofcourse i search over the net what is the most demand kind of business and after that i ready my capital ofcourse you need to start with a capital in order to run a business third thing was processing your business papers after that you'll going to study the business and just enjoy your business don't think about getting a huge profit since you're just starting.

Sled

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Before starting a business you should always know what kind of product you will make or provide to people and if it is strong enough to compete to the current companies that offer the same product and you need to know if you have a solid plan for your business so you can easily manage and go on with your plans after you start your own business.

Tubig

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Quote from: Sabar90 on September 07, 2017, 08:13:47 PM

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

We've tackled this in our engineering management, before stand up a business you must know your capabilities, your knowledge. I'll give some that I remember :
1. You must have a capital. (lots of banks to loan on, it also has diff. types.)
2. you must consider the location
3 you must know the trends and promos or advertisement..
These are just some.

Pursuer

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in my opinion it will all come down to your experience and your team (if it is a team business with employees,...). if you have some prior experience in running a business even a small one, or have studied some courses and have some knowledge in the field, that will help a lot.
starting a business may sound easy at first but in practice you will start encountering lots of issues, small and big. and by that time you can only manage the business and lead it to success if you know how to deal with each situation individually. and that requires experience.

Yuhee

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Quote from: tukiMiN on September 08, 2017, 02:18:34 AM

Quote from: alex 777 on September 08, 2017, 12:52:39 AM

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

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

For me your products should be what other businesses would need. Dont just attract common costumers. You need to have something that the middle class would need. Nothing is gonna happen if your target consumer are just civilians. People now adays need to at least upgrade the aims of there own businessed because many local businesses woud just profit just for daily expenses and stops there.

tukiMiN

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Quote from: alex 777 on September 08, 2017, 12:52:39 AM

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

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

alex 777

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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

Sabar90

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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

Topic: Some things to consider before starting a business - page 21. (Read 3761 times)