Topic: Some things to consider before starting a business - page 10. (Read 2227 times)
I would also add: consider if there is actually a real demand for the product/service, and also is the market already saturated with it and will you be facing stiff competition.
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 software and data storage with small companies are 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
Think all your needed , Planned ahead specially those the person you wants to be a partner in the business. Think of all the expenses you will going to spend.Do and love your passion thats the best thing you can do for choosing your own business.Work hard and put your heart and mind when starting a business. Not all the times you will at the top consider everything might happens to your 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 software and data storage with small companies are 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
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 software and data storage with small companies are 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
First thing first, one must consider before putting up a business is the feasibility of the business itself. Can it be done or can it be achieved? The most important one is the capital. It is not enough to have a capital taht you can start with but one must also have an extra money for emergency purposes. Expect to incur losses on the early stages of the business and one must have the capacity to fill up this losses. 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 software and data storage with small companies are 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
the most important thing to consider when starting a business are the market, your capital, and the profit that you'll receive.
there are lots of things to consider before you start your business ..you have to consider what are the demands of community you have to search for every detail... search for the ideal place ...and for me one most important thing to consider is start a business depends on the things you love..like me I love to cook so I am planning to start a small business in food industry...ofcourse capital is given that's the first that we need to consider...
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.
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.
It depends on the situation. You are just starting your business so the one that will trust you first is family and friends so you will end up in a sole proprietorship or partnership and you will end up investing your own money as part of capital. It's hard to set-up a corporation if you are just starting a business.
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.
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.
Well as what they say, if you decide to be an entrepreneur, you will be working hard more than you are an employee. You leave your job working 40 hours a week for someone else to work on your own 100 hours a week. It definitely will be harder but it will be rewarding as well.
the most important thing to consider when starting a business are the market, your capital, and the profit that you'll receive.
there are lots of things to consider before you start your business ..you have to consider what are the demands of community you have to search for every detail... search for the ideal place ...and for me one most important thing to consider is start a business depends on the things you love..like me I love to cook so I am planning to start a small business in food industry...ofcourse capital is given that's the first that we need to consider...
1. Do not invest your own money = really, we better find a partner at the time will start the business ...
2. Work hard = hard work alone I think is not enough, we must work smart as well so that business that we will start to run smoothly ...
3. Use the latest technology = we do have to utilize all the latest technology to start our new business ...
4. Respect the time = this is important too
5. Realistic = lol, I agree with this, do not be too much fantasy
6. Sell excess, not price = this is the most important of all, in my opinion, do not sell the price, but sell the quality ...
2. Work hard = hard work alone I think is not enough, we must work smart as well so that business that we will start to run smoothly ...
3. Use the latest technology = we do have to utilize all the latest technology to start our new business ...
4. Respect the time = this is important too
5. Realistic = lol, I agree with this, do not be too much fantasy
6. Sell excess, not price = this is the most important of all, in my opinion, do not sell the price, but sell the quality ...
For my own opinion there are 6 things to be considered before starting a business. First is money. In starting a business you need money, because it is your starting point for buying your raw materials for your product or services. Second is self-confidence and courage. In starting a business self-confidence and courage lots of them, because it is your own money to be wasted if your business doesn't succeed. Another to be considered before starting a business is your competitors, because if there are so many other business out there your competitors will bring you down because they are the first who builds that business in your area. Another is trusted persons to be working with, you need to be aware of who you are hiring in your business, because there's a possibility to fool you. Also in starting a business you need a business plan, which can help your business to be successful. Lastly, equipment or tools. It is also important to consider your equipments and tools, it is one of your foundation in making your products or services easily.
the most important thing to consider when starting a business are the market, your capital, and the profit that you'll receive.
You know it doesnt always about the profit you can instantly get, but a great entrepreneur think about what do really matter. Since you are puting your own money in your business I think having a business plan is great technique to lessen the unwelcomed event that you may encountered.
It's very hard to start a business of your own it's very risky so before you start study first the business you want to open look for a good location and select the right business that is new to the public.
Create a marketing strategy. Focus on that strategy to ensure your plan will flourish. Be realistic with your aims and as much as possible never be involved with debt. Be dedicated and committed to your pursuit, this is not for the faint of heart.
Also considering Jack Ma's advise in seeking business partners.
Do not make your friends your business partners, choose a right business partner and make friends with them in the long run.
Take time to read Jack Ma's interview, he's knowledgeable at business and gives some great pointers for starters.
My favorite one is to stay focused and always get inspired in everything that you do.
If a business founded by several people that there is always a risk that partner will have different points of view on the development of joint business. This leads to quarrels and can significantly reduce efficiency or even lead to the collapse of the business. It seems to me that you should always develop your project independently.Do not make your friends your business partners, choose a right business partner and make friends with them in the long run.
Take time to read Jack Ma's interview, he's knowledgeable at business and gives some great pointers for starters.
My favorite one is to stay focused and always get inspired in everything that you do.
This is very helpful thread for someone that are trying to start a business. Im an owner of a gadgets and accessories business for 5 years now and the first thing that i consider when im just planning to build one is what i really like. For me its important to know your passion because it will reflect in your business on how you handle and familiar with it. Its also important to know what might your customers like so you can serve them well.
Yes as far as I notice, that is also one of factors that can give impact to your business. One of my friends told me that, before you actually start a business, you consider the risk, all in all they said here, and one more thing, you cannot run business by yourself while you are just a beginner, seek help and advises, try to find business coaches to help you manage your portfolios and your plans, but the final decision needs to be done by you.
well you should consider a lot of things, hard work, sleepless nights and a lot of risk. but i think the most important is to have right team around you.
Your idea is highly appreciable to me but I would like to add that honest team plays very important role in advertising, publishing and developing your business as well as there is no substitute of hard work, loyalty and devotion to your job. Further more risk is an important factor affecting the business and I would also like to add that a good leadership qualities in a business man is very important. 
This is very helpful thread for someone that are trying to start a business. Im an owner of a gadgets and accessories business for 5 years now and the first thing that i consider when im just planning to build one is what i really like. For me its important to know your passion because it will reflect in your business on how you handle and familiar with it. Its also important to know what might your customers like so you can serve them well.
well you should consider a lot of things, hard work, sleepless nights and a lot of risk. but i think the most important is to have right team around you.
Efforts are always there when something new is planned and you need to work out on it day and night. There you may have hard times coming along the way but these hurdles make your way easy and give you more experience that can help to draw a better architect of work in your successful way. Learn and learn, even you know it already, again learn and get experience from it.As we go into business industry, see to it that you are ready for a loss because in business not all are gaining. Sometime we consider also the trend and demand of the market place as it take a big factors and basis of what is the outcome on this project.
well you should consider a lot of things, hard work, sleepless nights and a lot of risk. but i think the most important is to have right team around you.
Efforts are always there when something new is planned and you need to work out on it day and night. There you may have hard times coming along the way but these hurdles make your way easy and give you more experience that can help to draw a better architect of work in your successful way. Learn and learn, even you know it already, again learn and get experience from it. 
Sure all of those are things you should consider before starting a business but the #1 thing you should have before beginning a business is a business plan. If you dont have this then GG you are a dead duck walking 
Before starting a new business we should consider the followings things like for better business you should have a patience and the art of satisfying your clients or customers. The second reason is the idea should match with the ethics and tradition of the society. The most important thing is to select an appropriate market for the goods and services where you want to offer.
Before you start your own business, you should know first if you are doing it with a good analytical thinking. You need to analyze things first before doing anything because if you will not do it with a good analytical then there is a higher chance that you will not make any good outcome from starting a business. So if i were you, i will do analyzation first.
Being analytical has it's own part, but actually investing money is the more important important latter. Knowledge is is crucial fit long term running of the business also a fixed mindset is required to be able to tackle competitors in the market. I think being realistic should be the first step as it's more important than speculating profits and actually working of business activities. We should understand whether it's actually possible to run a business or not. Jump to: