Topic: Some things to consider before starting a business - page 9. (Read 2227 times)
When it comes to starting a business start up capital is important but as you said not using your own money and seeking partners is good but it is not often that you find people who are willing to invest in a startup so you at least have to have your own capital to start with and so when you start seeking a partner they will see how serious you are and will be more inclined to partner with you. Another thing to consider is time, start ups eat up a lot of your time, even more than your 9-5 so you have to be willing to sacrifice time in order to make it work.
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
Starting business is not easy. First think all the expenses your needed , the place you are going to put it , balancing your time , choosing a person that you are going to work with. When your going to do a business make sure that you are passionate about it. 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
As a student we have tackle a short topic about entrepreneurship there are P's to consider to this.
Place- where you want to start your business, for crypto obviously on the internet or world wide web.
People- your customers to be offered by your services or product.
Product- This is the quantity that can be obtained by your customers.
Price- the set and volatile value of your product.
This is what i learned i hope it will help you.
Place- where you want to start your business, for crypto obviously on the internet or world wide web.
People- your customers to be offered by your services or product.
Product- This is the quantity that can be obtained by your customers.
Price- the set and volatile value of your product.
This is what i learned i hope it will help you.
When you setup business you must consider about market, products, and networks. For me that 3 thing is main power for business.
As you see now market almost 100% is online, and buyer can search and get their products easily and fast. If possible you also can collaboration with others company, to make your business get stronger. Your business not must increase innovation side, but must have endurance, so your business can stay for a long time.
As you see now market almost 100% is online, and buyer can search and get their products easily and fast. If possible you also can collaboration with others company, to make your business get stronger. Your business not must increase innovation side, but must have endurance, so your business can stay for a long time.
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
Your analysis are on point. But I would like to add innovation. Sure making something new is hard, but learn to innovate. What are the things would you like to change for a certain product? What can you improve? Do you think it will click on the mass? Making something from scratch is for people like Thomas Edison, but everyone can be innovative. People like new things, unless it's stupid.
The number 1 that you have to consider for starting a business is your CAPITAL. For me, when you are investing give your 101% effort, every ideas you have give it but dont give your 101% of your money, because in business you should have Plan A, and Plan B. Plan A if your business will be okay and the plan B or back up plan is when it will not be ok, So if you are not putting your whole money in a 1 business,. lets say it doesnt go well then atleast you have your other money together with your back up or Plan B.
you may to add in your list is start bussines from what you like, so you can enjoy that bussines.
Before start operating a business consider your:
1. Manpower- ensure enough manpower to do the tasks and knowlwdgeable about the business
2. Equipment/Machine-if the business needs those ensure functional and in good condition
3. Materials- intact, complete and available
4. Location - consider its being strategic and marketable
1. Manpower- ensure enough manpower to do the tasks and knowlwdgeable about the business
2. Equipment/Machine-if the business needs those ensure functional and in good condition
3. Materials- intact, complete and available
4. Location - consider its being strategic and marketable
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
The feasibility of the business is the first thing to consider in putting up a business. Can it be done or is it viable? Since profit is the main reason why put up the business, will the prospect bite or buy the products or services you have to offer them? The last and i think the most important thing to consider is the capital. 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 you have to do market analysis whether the coin you are going to buy has high market competitiveness because we will not know in the future it turns out the coins you buy will be garbage. Use capital initially is not too big but your knowledge and experience will get many benefits because many people start with big capital but even loss.
You should be able to think ahead and be able to take the right steps is a very important thing in your success so you need more updates about market movement information so you can make the right decision.
You should be able to think ahead and be able to take the right steps is a very important thing in your success so you need more updates about market movement information so you can make the right decision.
First Do your research. You want to make sure you understand the industry you'll be involved in so you can dominate. No matter how unique you might think your business idea is, you should be aware of competitors
Take care of the legal aspects. Choose legal structures.
Map your finances. Starting a business requires money that you likely won't have right away, which is why it's encouraged to seek capital.
Hire help. Starting a business should not be an independent journey, no matter how tempting. Hiring help along your journey will set you up for success.
Take care of the legal aspects. Choose legal structures.
Map your finances. Starting a business requires money that you likely won't have right away, which is why it's encouraged to seek capital.
Hire help. Starting a business should not be an independent journey, no matter how tempting. Hiring help along your journey will set you up for success.
The first thing to consider before starting a business is know your market or customer because they are the most part of your business, coz they are one of your backbone whatever businees you may have, without your customers then your business wont exist. Next is the location it is important that every business aspirants would see to it the importance of location where they want to put up their business if it is accessible to the market or the patronizers can easily remember where your business is. Lastly the products that you can offer to the customers that they can enjoy and they are being satisfied of it.
I think the first thing to be prepared when starting a business is
1. Capital preparation, if you do not have enough capital, I do not think first start a business because it will hinder the business to be started.
2. the amount of labor, before starting a business to think about first who will work, can you work alone or you need others to help each other.
3. How to market, no matter how good your business is if not supported by good marketing it will be in vain
4. a strategic place to do business
5. profit, every job or business has the same goal that is profit, if we do not see profit from business that we run of course very risky.
1. Capital preparation, if you do not have enough capital, I do not think first start a business because it will hinder the business to be started.
2. the amount of labor, before starting a business to think about first who will work, can you work alone or you need others to help each other.
3. How to market, no matter how good your business is if not supported by good marketing it will be in vain
4. a strategic place to do business
5. profit, every job or business has the same goal that is profit, if we do not see profit from business that we run of course very risky.
I was talking about business with a friend these times and we finished talking about how important is the "how you do" rather than "what you do". The process is more important, I guess. Because it can determinate howw far you'll go, how high you're gonna fly.
if you have a company that consumes all your time, you can't do anything else and all your profit has to come trough this company. But if it consumes a lil bit less from you, you can do something else that can make an extra profit to you.
That's my point of view.
if you have a company that consumes all your time, you can't do anything else and all your profit has to come trough this company. But if it consumes a lil bit less from you, you can do something else that can make an extra profit to you.
That's my point of view.
the most important thing to consider when starting a business are the market, your capital, and the profit that you'll receive.
There are things to consider before putting up a business. First, you must be sure that you have enough capital to sustain the needs of the business that you'll going to start. Next, be sure about your product. Make sure that your product will produce a good profit. Consider also the location of your business, make sure the the place of set up will be good for suitable for your business.
Before starting business, you need a capital. You cannot create a business without it.
Next is the idea, you need a good idea. It must be attractive, and many more. All those factors are things to be considered in starting business. It is too risky.
So you have to be patient, always think positive, be wise, and work hard.
Next is the idea, you need a good idea. It must be attractive, and many more. All those factors are things to be considered in starting business. It is too risky.
So you have to be patient, always think positive, be wise, and work hard.
You need to know who is your target market in your business and you need to sure the place of your business.
Someone starting a business must have an idea and must dare to take a loss therefore before starting a business we have to see our business first or the factors that make our business more advanced slah only factor location and what business you think is in tune people in.
many things to keep in mind before starting a business:
1. Do As Your Interest
2. prepare mentally
3. Learn the selected franchise
4. Choose the right place of business
5. think about additional promotions
6. hard work and creative thinking.
1. Do As Your Interest
2. prepare mentally
3. Learn the selected franchise
4. Choose the right place of business
5. think about additional promotions
6. hard work and creative thinking.
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 of all you have enough money to start a business then a employee that you trust even if you leave that business to him you know that your business is in good hand,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 place that you stand your business, then be sure that you know or you have a skills to start that business.
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