Important things that you needs to consider when starting a business. Capital - need to have a capital to start the business and even a reserve for the buffer just in case. Market - you need to have a good market for a successful business.
I agree with you. Capital is extremely important to the businessman. If you don't have a good capital, it is hard for you to maintain your activities. Moreover, your business needs to have a good market. If no one loves your product, how can you sell them ? 
Topic: Some things to consider before starting a business - page 4. (Read 2213 times)
Before a person can start his or her own business, there should be the ideal love for the work you have planned setting up. You got to be courageous in taking any decision that will help in uplifting the business. Also you must be a very hardworker, that is, you got to put much effort in the business so it does not collapse. I think you can also avoid autocratic leadership style because it tends to suppress the opinion of others
I would add from my own experience of business owning, never think that you have already agnowledged everything and you dont need to learn!
Most businesses are successful because the people saw a need in their society and decided to meet it and when that happens, you see that everyone needed that product or services always patronize it.I think best option is to first think of the idea then identify the target market, Look at the competitor who are already in the market with some what similar or related products. Then devise marketing strategies accordingly. First question should be, why customers buy your project, what's new you are offering to the customer. I think a completely analysed and well targeted product has a very low chances of being rejected by the buyers.
Before starting a business you have to know first your expertise.It is important that you know will and how to handle your business.Next is location ,it should be easy to locate.And of course, capital.
Important things that you needs to consider when starting a business. Capital - need to have a capital to start the business and even a reserve for the buffer just in case. Market - you need to have a good market for a successful business.
I would add from my own experience of business owning, never think that you have already agnowledged everything and you dont need to learn!
Most businesses are successful because the people saw a need in their society and decided to meet it and when that happens, you see that everyone needed that product or services always patronize it.
I would add from my own experience of business owning, never think that you have already agnowledged everything and you dont need to learn!
Most businesses are successful because the people saw a need in their society and decided to meet it and when that happens, you see that everyone needed that product or services always patronize it.
Some business tips that I know, and I've been practicing since the age of 16 years, this works well. That is :
1. Never to owe, even if once, don't do it, invest with what you have.
2. Know your talents, learn, and start a business with the talent you have.
3. Find an opportunity. because success starts from lucky, lucky = talent + opportunity is accompanied by hard work.
4. Do not use all your money for a business, leave 50% to back up when your business fails or needs a sudden fund.
1. Never to owe, even if once, don't do it, invest with what you have.
2. Know your talents, learn, and start a business with the talent you have.
3. Find an opportunity. because success starts from lucky, lucky = talent + opportunity is accompanied by hard work.
4. Do not use all your money for a business, leave 50% to back up when your business fails or needs a sudden fund.
I would add from my own experience of business owning, never think that you have already agnowledged everything and you dont need to learn!
Most businesses are successful because the people saw a need in their society and decided to meet it and when that happens, you see that everyone needed that product or services always patronize it.
before you start a business think of location and your market strategy.
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
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
Before you start doing business, you must make an analysis first, because by making a first analysis is very good for your business, and can help to the success of your business.
I believe that these are the best things that a person must really put into his mind whenever he want's to start his own business. People nowadays just go in and jump into anything without even thinking too much about it. I think that if people only were thinking like the op, there would be lesser people that would be suffering bankruptcy. Sad thing is, not everyone is like op or has what it takes to stick to this plan. Which is probably why there are only a few people that are rich.
Many thing needs to be considered in setting up a business, location of the business, market target and so on.
sacrificing time and sometimes own money.
The main key of a business is patience, because which ever business you start the return will start to come after six months or more. So you can expect profit immediately. Apart from that you have to be giving your full time to business and add new ideas and marketing strategy so that your company name and products get more awareness in the market. This will boost your business development in a positive way.
Without efficient risk management techniques you should keep away from this system.
Some things to consider is the customers needs things, foods etc. Research some goods idea and have plans. Make sure to put in all you wants and be sure to make it safe for all. Last is financially prepared.
the most important thing to consider when starting a business are the market, your capital, and the profit that you'll receive.
Everything is really important but you really need to have a great idea if you want your business to bloom in the future because people will only believe you if they are attracted to your platform and services.
Well we should also not forget that one needs to get to know the target market, their preferences and also the gap available to fill. You can do what everybody does but it should be very unique. You just don't start anything. And I love the point saying not to spend from the business capital but from profits. That's good
You should first learn to distribute your money to best baskets and then try to learn the exact time of releasing your money.
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