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The most important factor to consider when starting to build a business is the target audience. You have to think of who would you want to cater to. Who are the communities that you may profit off of. Like for example if there is a school near you, you should know that students would be your target audience. You should start a business where students can buy materials from or a place they can study or even hang out around. I believe that if you studied your target audience, the first step of your business is already successful enough.

When you want to do business, first thing first is not just to study the area by which people you want to sell to live, but first is to study what your target audience thoroughly needs and provide that to them. You can go and start a shoe business around a school area which only a few students are interested in, but if you are selling something like pens and water, which they will always be in need of, then you are sure to have good and steady customers. If you don't study what your audience needs and just start a business, it will affect you very badly. Demand is very important in terms of sales businesses.

The first that should be considered when about to build a business is capital. Make sure you have a sufficient capital in a way that low capital will not result to discontinuation of the project.

The second thing to consider is location which is what you also explained, but it is more than that. You have to know about competitors also and to know if the business is lucrative in the area. Location also about the availability of resources needed for the business and not just only about the audience. Although, it depends on the type of the business.

I think so too. Because skilled businesspeople always succeed in seeing opportunities close by. Or before that, skilled businesspeople will find out what consumers need in the area where they plan to build their business. Knowing what people really need is the first step, just like knowing your target audience. The business we build must offer a solution for consumers. If the location is very far from a supermarket, we can provide a solution by building a supermarket close to consumers. Or something similar.

But it's crucial to understand our target audience. This usually depends on where we're building our business. If we're targeting elementary schools, we can build a business that will appeal to children or parents, as well as the needs of school staff and the like.

Area of starting a business also need to be considered, but this is not the first thing to consider as someone who is about starting up a business, have you ever considered how to set up a Long lasting business? What about how to manage your capital in a way that it will double like 3 to 4x the amount you started with within the range of 4 to 5 months?

And have you ever consider the risk that is involved? I believe no investment/ business that is risk Free, but the way we manage the risk will determine if we can still survive or not. And lastly as a business man or woman you should consider building emergency fund or reserve funds so that you won't be tempering your business funds whenever there is emergency or  expenses that need to be taken care of.

The target audience is indeed a crucial factor in building a business. For example, as you mentioned, the target is students. So, I think a business that could be opened would be a school supply or food store, or perhaps even a photocopying business. I'm more focused on photocopying, as it's not just students who need photocopying services; local residents often also need office supplies.
Another factor is marketing, but I don't think a store like this requires extensive or excessive marketing, unlike food businesses like restaurants or cafes, which typically require extensive marketing, sometimes even going out into the field to market their products.

It's better to not just yapping and start taking action.

Anyone can talk like someone who have 10+ years experience or successful with their business, while the reality most of people are employees (nothing personal because I'm also working under someone) and their either don't have a business, failed or only in survival mode.

I've seen a business is successful when their location aren't crowd, you might argue by mentioning other thing that make the business success, that's why as I said before, better to stop yapping and prove your words.

The target audience is what really matters a lot in setting up a business because that's what you will determine the growth of your business. Also, looking at the competitors around the business area matters a lot but if you have the right business strategy and big capital, you can outshine the ones in that same line of business within the environment.

Capital is the first, because you might have a good business idea and plan in you but don't have the capital to set it up.

What you mean is that in the business world, the term “target market” is more appropriate than “audience.”
Of course, you must have a market target as your path to achieving profits or sales, as they will be the consumers of the products or services you offer in the business world.

However, this is not the only important factor. The foundational step before proceeding is to determine what product to offer, as consumer segmentation can be observed and considered based on social conditions or needs that can benefit society.



Capital is often the most debated topic, but once you have a product design based on your research, you can create a proposal to seek capital investment from investors or banks for your product. Thus, capital can be a secondary consideration at this stage.

What I learned from my successful friends in business is that they truly understand the business they want to build, not based on trends that often only last for a short time. They start it themselves until it becomes stable, then they hire people as employees, so they really understand their business and do not depend on employees in running it, making employees just helpers and not the main focus because the main part is them.

Knowing your target audience alone is not enough critical to start a business, to me I believe that knowing your competition is also something you should look out for, so using your illustration for example after knowing that students should be your target audience you should also look at what the competition are doing to meet the needs of those students.
Being different and unique will help you business develop, don't just go for what others are doing find something that will solve problems for the students that others aren't doing yet.

Yeah, I always think first the target audience before starting a business because your branding will depend on your audience. You don't want to act as a luxurious brand, but your target audience are just average people. The whole branding and pricing will always depend on the target audience so it's better to know them first before starting everything. I agree with you that this is one of the first steps in business, you don't want to do everything blindly because you won't have a path. Knowing your target market saves you from mismatched branding and saves you from mistakes and it's your guide for your marketing style.

Yes, seeing the target audience is one of the important aspects when someone wants to start a business, but there are other things that are no less important, namely in terms of capital and calculating risks, I understand that being a businessman must be prepared for losses but of course it must also be calculated from the start from the risk side so that the losses are not too significant when your business does not run according to plan, besides that there must be other plans that you must prepare, in the sense that you must have more than one plan, for example, you have a business selling a product, well, at least you must have 2 realistic strategies, the purpose is so that when your first strategy does not work then you still have a second strategy that can be implemented so that your business continues to run.

I totally agree with you, the most important thing to note is who are your customers and the level of competition in the business industry, some business experts call it ' begin with the end in mind, that is how you can visualize how the business can be run. You need to have a vision of where you want your business to be and how to achieve it, have a mission statement of how to navigate, I gained these knowledge from different management books that I have read. To sum it up you need a business plan before you can start your business and that plan should begin with how you want your business to be when it's established. Then you start to think about what you must do to achieve it. It is important to have a solid business plan before you put your capital into it.

There are so many criteria to consider before starting up a business, and I think this one that you mentioned is a very essential part, but there are cases where people who are business minded would prefer to start up a business that they are passionate about, but this time around, they will have to go in search of their own audience/buyers, rather than actually offering services that they think most people around would be comfortable with.

I feel the main thing is to keep having passion to continuing that business. Your audience shouldn't basically determine the service you offer, but the services you choose to offer should determine the audience you chase after. And one thing that I feel most business owners don't know is the idea of keeping good business relationships. Every single customers that uses your service needs to enjoy it to the fullest. I'm actually saying this not because I'm a business person per say, but because I keep having good reasons to go back to those that has once offered me good services, and I believe so many of us here do the same.

Targeting audience like school doesn't guarantee success in business, you need to learn the basics and principle of money management, if not you may be making the money from those proclaimed audience and still be losing. Another thing is to have a good manner of approach, try to be friendly and Jovia, be customer friendly and know exactly what they need even though you open your business close to school. Because you might buy things they don't like, you should look nice and clean because most customers will not like to buy from a dirty person or environment. There are things that attract people to your business, and if you learn and do this things then you are good to go.

That's right. The first step in starting a business is targeting customers, so understand your market segment and stay consistent. Furthermore you must master their characteristics and don't expect your business to be successful instantly. When you see other people's businesses succeed, don't forget that behind established businesses is hard work and patience. As you rightly stated location and target audience are the most important factors besides capital. Many people with ample capital start businesses but underestimate the strategic location, ultimately resulting in failure.

Furthermore your business mindset must also change. You must embrace the mindset that the primary goal of business is not simply profit, but also customer retention. When you run a business with a customer focus it will last longer as customer satisfaction and loyalty are the source of long term profits. So when you run a business besides pursuing profit you must also build relationships with customers because that's where the real profit comes from.

For me, what matters is "dedication" and being "serious" throughout the process.

There are lots of people who started their business well-prepared, have a good plan, have a good strategy, well-funded, and even have lots of support money as backup, in the right place, in the right location, in the right industry, with good timing with the current trend, and everything good but can't keep up with the phase as they move forward.

After several days, weeks, and months, in the end, still give up. What's the problem there now? It's on the person themselves.

After studying or knowing your audience, you'll need to know how to attract them to your business because there are many others doing what you want to do or those that'll copy you as soon as you start that business. You'll need to be different and stand out and that's what will make you successful in that business. Everybody can open a business when they have the capital but keeping that business functioning and profitable is where the challenges is.

A business is supposed to be giving you profits hence when that business isn't doing that, it's no longer an assets to you but a liability that needs to be avoided. Some people think the most important thing for a business is capital but despite that being important if you don't know how to attract your audience, your business will suffer.

Before starting a business, you need to know about your customers first. That is, if your customers are elderly people, then of course there will be no profit by setting up a shop in front of a school. In that case, you will have to set up a shop where elderly people go. And since you have talked about targeting small children, that is, setting up a shop around a school, a big obstacle here is that when the school is closed or when the school holidays are over, your business will also close. In that case, I think communication or networking is very important. If you start a business through this, even if your business does not have any sales, passive sales will be good.

All these are part of feasibility studies you need to take on before starting up a business. Your targeted audience should be within the proximity of where you want to market your goods. Know their niches, what they like and dislike and also know how to convince them to buy your business. There are different ways you can market your business, but if you’re good in SWOT analysis, you’ll prevail more than your rivals that are into that same business with you in the same location. It all draws back to planning, if your planning is good and well thought of, your executions will be top notch and will give you immediate results. You should also keep evolving with the changes in your business with time to level up with the latest trends in your business.

Good point, this boils down to having a good business strategy. One major way to make money is by identifying a need around you and solving that need. The problem with a lot of t businesses today is that the supply is higher than the demand especially within a particular location. People are doing what others are doing. I think this has a lot to do with creativity. Most people are not good at coming up with something new

It's undeniable that choosing a location is one of the most important factors in starting a business. Choosing a strategic location makes it easier to identify your target market. It also eliminates the need for extensive promotional efforts to gain market share, as the strategic location automatically attracts customers.

Creating a new product is certainly promising but it also requires hard work to gain customer acceptance. However starting a business with a well known product can also lead to success, eliminating the need to laboriously educate consumers about the product you're selling. Both options have their own advantages and disadvantages depending on the individual's strengths.

Yes, this is the reality we can't imagine the success of any business in which you don't know the audience you have to target. you promote your business only in the situation when you know about the target people you know about the product and the people to which the product belongs to them. For example if you are offering an online course for the people to get skills and make them able to earn but you promote your course in the area or people belong to the agricultural field so i think it will be a full fledged flop promotion. If you tell the people in the universities and in the companies where educated people are working then there is more probability that people will attract towards you and make contact. this is the basic and important rule for any business to make it successful that you definitely know about your target audience.

The most important thing to start up your business is to study the area, is not must to be where student stay just make sure you sell what the community you are interested in getting the business need what you are willing to sell, just make sure what you are trying to sell is  something they need in that area I believe that is even enough to say that your business will move well. Choosing if location is very important.

Yes target audience is very important but it is not as important as the money needed for the business to launch.  So, in my opinion, the most important factor to consider in building a business is the monetary flows, both the inflow and outflow.  Without proper financial management, any success in business will be ruined due to overspending.

I have seen lots of successful businesses go bankrupt due to failure in managing their finances.  They have targeted the right audience, produced the right products, but failed to manage their production and promotion, thus wasting too many funds, but got less in return.

Of course, the most important thing in doing business is to know the customers and who they are, what they want, and try to fulfill their needs. And you have to choose a place around them. Moreover, you have to pay attention to the location of the competitors in the vicinity.

If the shop is next to a school, then that shop should be a little bigger than the competitors. Because the number of customers in large shops is more.

Bro this is so obvious, if we won't consider our target audience we won't make any profit because we will fail to chose a good location for us business, if we want to start a petrol pump or gas station and we chose the wrong location we won't be making any profit, because they do all the reasearch about the traffic and then they chose the location, although if they will just install the station anywhere near the main road they can make sales but they don't do that, they make full plan.

They know the villages and cities around this specific region are more, the traffic is more on this route they make their and make profit. Anyway, after finding the right audience we can be able to find the right location for our business, now sometimes there the saturation is high for the same product, so there comes marketing tactics and the ones that gives the most results is spread some deep shit rumor against your competitor and the results will be very good hahaha, this is bad marketing.

The digital marketplace has made it such that the people all around may not necessarily be your target audience when you're citing the business. It may just be a physical shop for the sake of visibility the people who are not online but have your major business done online where your target audience are people in different locations. One major disadvantage making the people around you your target audience alone where you're doing the businesses is that, in situations where something happens and maybe these people who regularly patronize your business around you are no longer present your business will suffer. For example having student as your target because your business is set up in a school environment, your business will suffer when they go on holiday.

The business you want to run means following the needs of the audience in that location, not finding an audience that needs your business, which you already like and are interested in. So, if you're looking for what the audience in that location needs, you have to find a business that doesn't already exist there and that they're interested in. Because there are certainly many businesses in that location that the audience needs, and it's difficult to find one that doesn't already exist, which means you have to create a business that is similar to the existing ones and be ready to compete. So what you mentioned is good, but it's not as easy as you might think in this day and age. You have to be willing to innovate, compete, offer lower prices, and maintain good quality and hospitality for your business to run well.

Factors such as customer expectations, store location, and more need to be known in advance and detailed research should be conducted. Anyone can want to open a business, but thorough analysis is essential beforehand. There are many factors beyond those mentioned. It's advantageous to thoroughly analyze your target audience and tailor your business to their needs. It's important to be aware of this before starting a business.

A planned approach is always advantageous. Analysing the requirements for a business and proceeding with a plan can make it easier to achieve success.

I dont think there is only one single most important factor. Sure, knowing your target audience is very important, but its worthless if you dont have a good product or service.  You can know exactly who your ideal customer is, but if your product or service is garbage, no one will buy it.

Knowing your target audience, having a good product or service, and a business model that actually keeps you afloat, are all important.  Focusing on one of these is like trying to drive a car that only has one wheel.  It wont get you very far.

It is essential in any investment to thoroughly study the market, especially the targeted niche. In the example you provided, the investor should have to know what's his product in first place then look for the best location. This means if you want to sell pens, then you have to look to open your store near to a school or a university, not senting a store then search for should i sell depends on the location. This is an opposite logic.

That's target market and it's true that it's one of the most important factor in starting a business. You need to know who your customers are and that's why in an economy that's not so good, you'd see that many startups are coming up because of the needs that they need to fill when there's a market waiting for them to be spent their money on.

So, the needs from that location and the specific customers that you're going to cater for your products. Aside from target market, the foot traffic is also what you've mentioned here and these two factors complement each other.

First and foremost, know what kind of business you are planning to build so start with a viable business idea, and then consider your target audience. By understanding your customers’ needs, you can ensure that you are building a business that will click to them, that will be patronized by them, and eventually calculate the estimated capital that you think will perfectly cater to the needs of your target audience.

Location is also an essential factor to consider. Where there is crowd, that’s where your business should be placed.

It is not the most important, but it is a part of market research, which is very important. It is amongst one of the most important things that you should know. Starting up and building a new business is a huge project that has many important parts, and to neglect one side and focus on the other aspect, thinking it is more important than the other, may mean the collapse of the business. For this I say that there are many important factors that will make a new business stand.

For me, the most important factor to consider when building a business is the capital. You know it’s easier to think of any great business within your core if you have sufficient amount of funds that you think will greatly cater to your business. Otherwise, the realization of your business will be kept delayed if there is no good amount of funds readily available to finance your business.

On my end, the topmost factor is your knowledge of what you are trying to get involved with. Because if you have none, would be very hard to move forward. Because the capital factor, you can always find a way how to find your investors if you have none. It will be your strategy to raise funds and with so many routes to take, you can always find someone who will invest in you if you know how to market your idea. So for me, it is your knowledge about your chosen business that will give you a very good edge in building a business. A human factor is vital in the conception of a business. Financial aspect is also vital but the individual involved can always find a way how to get one if he truly knows what he's getting into.

There are so many important factors when you want to start a business and i wouldn't even want to pin one down as being the most important. You need to identify a problem, figure out ways to solve it and try to implement those ideas, etc.

I read a lot of people saying capital is the most important thing, there are many big business owners today who wouldn't have been if they thought that way. There are many ways to raise capital, or maybe start small, you could also seek partnership, etc. The main thing is having a stellar idea and be ready to turn it into something useful.

Audience is every business strategy of starting points because is only when a business person has gotten or identify the location that has the sufficient audience they need before it could be started and secondly one should also no that even if they have the highest audience on that location they can still become like a business person who do not have any audience because what someone should do during the targeting audience is to also no what might interest those audience the most because is from what they always desires to purchase you can get there attention into your own business.

Steps for starting a business that could work:

1. Decide what field you are going to get into, and do your homework about the business and the field as a whole.

2. Prepare the budget for the business after calculating all the expenses, including rent, equipment, products, salaries if you are employing others, etc.

3. Find a suitable place for your business, a place where you know the business will run well, and your target audience is found there. You can't open a stationery store outside a hospital and expect to do good business, but a medical store would be a suitable choice.

4. Rent or buy the place, buy the equipment and the products you will sell, set up your business, and start selling.

5. Run promotions and giveaways to attract new customers to your business. It's a very necessary step for new businesses until they become recognized, and even after you are recognized, promotional offers and campaigns will still be needed to keep everything going.

If you follow these steps properly, your business will most probably work. :)

Well, you need to have some product before you can "target audience"...

The target audience is important, but it's not the only thing that matters when starting a business.. the smarter you are, the more factors you will consider before making your move.

You need a solid product or service first, and then you can think about who it's really for. Every business is different, so I guess the key is to look at the bigger picture and not get stuck on just one detail...

Generally, there are two forms of business, there's the online businesses and the offline businesses. The online/digital business is the later version of business which came as an improvement or upgraded version of the offline/physical businesses so as to cover a wider range of audience and geographical segmentation. The offline and physical businesses covered a pretty limited, local distance but became more reliable and trustworthy since both buyer and seller are physically engaged and could see each other, but the online and digital businesses broke out the jinx with the ability to reach a very wide range of audience with limitless boundaries and geography.

You can actually target audience in another country whom you think will be interested in your products and they will see it and make a purchase if they trust the business enough, hence the reason for testimonials and other visual proofs. What made it more interesting was the integration between the two which allowed the physical businesses to leverage the online and digital markets through their online and digital presence. Many stores and services now target audiences entirely outside their location and through the use of media images and videos provide proofs to their physical footprints digitally.

Now makes digital Marketing an integral part of any business and a necessity for every business person to do. Because people now use digital marketing to push their physical businesses to audiences beyond their physical reach yet being able to sell the same value of products and services they will offer physical and successfully. All the things you mentioned above are easily factored into the advertisement platforms such as the ad sets, audience type, range, location, demographics, interests and behaviour, also your add budget which means the amount of money you can spend to drive the digital campaign.

Of course financial management will help you to control costs, manage cash flow, and create a solid business plan, but targeting the audience is very necessary in building a business because the survival of a business depends on the interest of the audience. Providing good service to the audience is also an important part of doing business, good service can build customer loyalty, so indirectly you have increased your good reputation and increased customer trust. Business direction and objectives also need to be considered, such as the products offered, pricing, and cleanliness. You also need to actively monitor market developments and changes to stay relevant to your target audience. Therefore, businesses need to innovate and adapt to market and technological changes.

In any business it demands a proper market survey, and if you fails to conduct a survey before venturing into any business, it will affect your business if you eventually establish it, at first you need to consider the following

1. The population sizes of the environment
2. If their's already similar business existing within the environment
3. If social amenities can be a barrier of the business
4. The landscapes for the business you wants to establish

So all these are the factor we are ought to consider before establishing business, and without this investigations and you start a business, your competitors can make your own business to crash, and another thing is that, if what you have is not the demands of people living there, your business will also collapse

I'm thinking you are a student, your first area of taught suggested a solution for a student based area and now I want to put it to you having notice this, that's an opportunity you can hop on if you want to because you actually can if you .ake some research further and come up with an ideal, since you already know your target it becomes easy pizzy for you to explore and make some profit providing solution to these students.  

Anyways if I'm wrong, I beg your pardon.  But the whole idea here is you have made a very good point and it can be used to create good business opportunities although this isn't the only factor that is needed to put into consideration but it is a key determining factor because it  influence your  product, your sales approach and even your advertisement.  All of that will be affected by the target audience you aim at providing your services or selling your products to.

When starting up a business, knowing your target audience is right and knowing what your target audience will need is crucial for you to have a successful business.

Remember, in any business, there are competitors who are doing the same business as you. The way you package your goods and services, and how your customers are treated will determine how successful you will end up becoming in your business.

Yes, what you said is true that it is one aspect that is no less important than capital when someone wants to build a business, but on the other hand, success in business is not only knowing how to treat the audience properly but also knowing how to manage your business well and correctly, because it is not uncommon for business people who ultimately go bankrupt because they do not know how to manage their finances properly, so make sure when you want to start a business you must first know about how to manage finances and also know the weaknesses and strengths of your product.

Capital should be the most important factor we need to consider before we set up a business. The second most important should be: What do we have to offer? This should be followed by location.the reason why capital should always come first is that, whatever business we want to do, we must consider our capital first what the capital can offer, and what kind of business it can start with the available money. From there, we can now think of location  which location is the best for the business we want to do.With that approach, I don't think someone will face problems in the business. But even if someone has a good location, without the capital to start the business, they will not be able to establish it  or possible even someone have good location it possible there will not be business idea to mstch the location.

Determining the target audience or selling price is very important in building a business, this is the main key. Create a promotion for a few weeks or a few months to attract interest or buyers, create a bundling package that offers several products at a cheaper price than if purchased separately. and create some other promotions like collecting points or stickers every time they shop, and after reaching a certain amount, they can exchange these points for discounts or free products. This can also increase sales or the business you run.

I have tried running a business and I am certain getting the right location is more important. When you have the right location you will actually get the right target audience. Also when we talk about having the right location, I am referring to both physical and online location. After getting a physical location, the next thing you do should be getting an online presence in one of these social media. From what I've come to realize over the years, distance is never a barrier. If you have a good service with the right offer, even on social media you will have lots of customers.

When starting a business, the fundamental thing to consider is determining a strategic location. Next, you need to determine what product or service you want to sell, who you want to target, and how you'll market it. A good example of marketing is offering points or discounts early on to attract more customers. Create products that are truly needed by the market, at competitive prices, and make your business as attractive as possible. Remember, no matter how good your business is, the customer will always be the judge.

Starting a business is like entering an unfamiliar territory with only a map and no guide. Therefore, you must experience the ups and downs of business, gain experience, and develop a business mindset that will last.

There are many things to consider before and when setting up a business. Lots of important factors already have been listed, i can only add or stretch them. Starting up a business requires strategic management, from cash flow and management, location, demand of  your service or what is being sold. Having enough cash flow is kind of the best build up structure to have, there are mistakes at the early stage of running a business that might incur losses, having extra cash to cover those losses can help the business from falling.

Knowing your target audience is important without a doubt but there are other equally important stuff which you need to know about before you start a business. For example, who will be your supplier? Where do you get your products from? Will they have enough inventory all the time? Which payment methods do they accept? These questions are important if you are selling physical products mainly instead of offering a service. The physical location of your business is also important. Will you rent it, if so for how long and how much? If you will buy the place are you sure that's the right decision? Most important question is, if things go wrong for a while, do you have enough savings to pay for the expenses? It is because if you don't, you'll go bankrupt very quickly. Things can go wrong for many reasons. During covid19 years between 2020 and 2022 or even 2023, many business went bankrupt and never came back. Shit happens sometimes.

It could go either way, I believe. If you know kids are in front of your business then you should think of products they will always have to buy like school supplies so now you have a product you just need to make sure it stands out

Yes, the people that needs your products the most should be the target, I've had the plan to launch a gift card company in my country which the young generation are the major audience, teenagers between the age of 18 and adults to the age of 30, these are the major categories of gift cards users in my country who constantly exchange gift cards to Fiat day by day.

There are many factors to consider, but in this case, I don't think it's a problem if we really intend to do it.
Sometimes we are too focused on certain things but fail to properly assess ourselves to see if we are really capable of doing business or not. Looking at what is happening now, we must realize that in the end, everything must start with ourselves first.

Once we have determined our direction and it aligns with what we aim to achieve (in this case, running a business), we will undoubtedly be more serious in both planning and execution.
This is not an easy task, and it will certainly come with its share of challenges, as running a business is not as straightforward as it may seem. We are aware that such conditions carry risks. However, once we know this is the right decision for us, we will do our utmost to achieve the desired goals.

Budgeting is far more important than anything else. And do not try to calculate how much you are going to make, because it can be vastly lesser than what you might imagine. Like when me and my wife started our business, we imagined we could sell at least just once per day, that's it, just ONE per day, it is not really that much of a deal right?

Even after countless amount of money on social media marketing, all reels, ads, and all we did, we are still not averaging one per day. Of course early days was worst, we had 9 day period where we didn't sell a single one, now we are selling few times a week, so it's getting better, like at 0.5 per day averages, instead of 0.1 per day averages, but it's still not even remotely enough. So budget accordingly.

Those who want to build a business will have different important factors. You can say that the target audience is important but others may say that budgeting or the type of business is a matter that we must prepare.

First, you need to know what business you want to build. Then, determine how much budget you need to prepare. After that, you will need to search for the location where the business will be placed.

If your business type is broad, meaning your target audience is all people in your business location, then you should focus on promotion. But I am not a business owner so maybe I am wrong.

It is very important to take such a step in the business field, especially in places where schools and colleges are located, it is possible to make a profit if you can create a business in front of schools and colleges. As you have commented, I think it will be a very profitable place for a businessman if he can create a business in front of schools and colleges. Basically, if a library or a business selling school-college essentials is started there, then there will be a lot of profit there. If the students' materials are kept there, then they will definitely go to that place to hang out or shop.
I like such a business to be successful, if arrangements are made around schools and colleges to hang out like a library along with the students' materials, then people will definitely spend more time there.

A lot of factors are important.

Your product must suit the market, your product should actually solve a problem and not add another problem. It should be catered to the target audience too but unless it makes a solution for them, it will not sell. Costing is also another factor.

Pinpointing one factor to be most important in business is punitive in my opinion.

At the mastery stage and recognizing potential, any business you run can grow according to plan. The reason companies conduct surveys before developing a business in a particular area is because they realize that business is built on need. Similarly, if we sell school supplies in a traditional market, it might not be appropriate because there isn't an audience there that needs school supplies.

Once we know this, we can then think about how to promote our business. Now that everything is online, promotions need to be tailored to the times. Most people struggle to keep up with businesses that have already developed, so we need to find ways to build a business in the same sector.

You can't really talk that shortly about starting a business because every factor is the most important factor. Not only is it important to choose the right place for your business and to understand and target the right audience, it's also very important to think about the product that you offer. Why should I buy your product and not someone else's product? How can you be competitive? This is the most important question to ask yourself when you decide to start your own business. Business is a very complicated thing, it's not as easy as people think, you have to keep in mind too many things to achieve a success and everything is equally important.

The most important things when starting a business are having a clear idea, knowing your target customers & making sure there’s real demand for what you’re offering. You also need enough money to get started & a simple plan for how to grow. Good marketing & keeping track of expenses matter a lot too. Trying to be patient & willing to adapt when things don’t go as planned is what usually keeps a business alive.

The target audience is important because it gives you direction on who to serve and how to design your product or service around their needs but that alone is not enough to make a business succeed there are many other factors like location pricing competition and timing that can decide if a business will last or not.

Having an audience is one thing but being able to offer something unique and competitive is another because if your product or service is not different or valuable people will just go to someone else marketing and financial planning also play a huge role since even with a good product you need to reach customers and manage resources properly.

There are many things to consider when starting a business. If you really look into it on Google, you'll find a lot of guidelines, and you'll realize that building a business is no joke.
If you're starting with a small capital, you might face some tough battles.

You'll need a lot of patience, and you should have a solid goal plan, target, and marketing strategy. You also need to base it on the products you'll sell to the community
where you want to build your business.

You need to know your target audience and its demand very well. If there are many stationery shops near your school, it is unlikely that the next shop that opens will be successful. You also need to know where to find cheap and good products, maybe order them from China, having checked their quality in advance. In addition, you need to be able to draw up a work schedule for hired workers. There are many nuances and they all depend on your budget and capabilities. But it is definitely worth trying your own business.

Well, one of the main goals of every business is to provide service and give top priority to those who will receive the service. Remember that in a competitive market, if you treat your customers well, they will give you better feedback and your reviews will be so good that your customer base will continue to grow. If your customer base increases, your business will make profits and you will be able to expand your business overnight. If you cannot implement your business strategy properly, the opposite picture can be seen, as a result, your business will go on the path of destruction in a short time. That is, before starting a business, you must pay attention to how the maximum application of business services is in favor of the customer.

The majority of the members have mentioned all the essential aspects, such as capital, demand, customer relationships, and competition, but I think there are other important aspects, like regulations, that need to be addressed. Compliance is required to meet permit requirements, etc. Consider using tools to simplify accounting and day-to-day operations.

This is an important factor to always look out for when planning for a business. Studying the environment should not be taken for granted because it is not possible to give the environment what it does not need. In business, to succeed, you must first solve the problem of the people by giving them what they want. This is the mistake some business people make: they pursue businesses they are in love with without considering whether the business will be valuable to the people. Succeeding in life means giving people what they want, things that can be very valuable to them, which will be resulting in better outcomes.

This is right thinking and this is what grows a business into unimaginable empire, identifying what the people around your ares or environment will likely want and investing on it by bringing it their door step, the mistake most people make while starting a business is knowing the right business to start in their environment or wherever they want to start such business, this is an informed business idea, some people just jump into doing business without considering some things, is just like starting a provision shop where there are many provisions shops around here if you reduce the price of your goals to an extent and even if you do, some persons might see your goods as inferior ones because of your decision.

To run a business properly, in addition to specific knowledge, money, demand, and Treat customers well, it is necessary to follow the right rules and regulations, such as legalization or licensing in accordance with government rules and regulations, and using digital tools to quickly resolve business activities or accounting is important for every businessman. From my point of view, to run a business properly, first of all, it is very important to determine the place. If the right place cannot be determined, then the business cannot be run in the long term. We should remember one thing well, to make a business successful, a lot of patience is needed along with money.

This is a main key point when discussing investment elements. In general, all the details are important especially when to start. You can't deny any factor. The example of corona can explain it, when many businesses in touristic sector ignored all the warnings about the pandemic which later forces a global lockup. Assumptions about loss says that billions of dollars lost because they didn't take the right decision in the exact time.

A business located in the wrong or inappropriate location will more easily fail due to a lack of sales because no one is buying it. That's why business owners always conduct small surveys before undertaking their missions with larger capital, because long-term businesses certainly need all the necessary information to identify opportunities in specific locations. I agree with what you said, but for street vendors who frequently move from one market to another, selling school supplies on a particular day won't be a problem because they don't stay in one market.

Before the opening of a business, it is also important that they do there own finding because you can start up a business without findings and people are always doing that they need to know about what they are starting are they really going to make money from it or not and do try and error and also to know if the bossiness is what people need because when it comes to worst in the process you will get more experience.

To build a business is not as easy as people think because it is just not about the money alone, it comes with a lot of sacrifices and some breakdowns that people need to know before they eventually conclude with the analysis of what to do.

Business is not an easy thing. At the beginning of business, you should not only focus on the target audience. You have to find the best product, know its marketing studies, know its liability. To do business, you have to use a lot of hard work and talent and do it in the main place. When you start a business, you will have many competitors and to do better than them, you must think of something different that they do not chase. Only then will you be able to stay in business. If you follow the business model of others, you will never succeed. The example you have given is a common strategy. It is very difficult to succeed in business in the current context with such strategies.

I agree with you because the target audience is important as it will help you to produce what is needed by these specific group of people, targeting a specific group will also reduce the Idea of producing goods and services that may not be needed



Having a target audience is one business tool that when properly utilized will be helpful in building a that is growing I think that most business has failed due to the fact that they don't have any specific targets audience which they ment for

Now as things are going around us better thing is before starting any business workout on market because this will give better understanding and ideas how to start and what is important doing survey or having someone to check things around best deal.
After doing early paper work then having workout on other things is better because with this many more relative things can give chance of better marketing and profit which is main target.
Technology making things easy just because of this always keeping eye on market and relative customers important staying in touch with end users and retailers also give better response about products because their experience always works.

You are right on this topic, target audience is one of the major factors to consider when starting a business. Knowing your target audience is like knowing your customers, what they need, what they want and you should also know their financial capacity so that when others are selling at the lowest you are selling at the highest because of course you know how best your audience wants it and they should also be made to understand that your products are high. For a successful business you should do your math on your target audience because that's the only way to know how to present your products to them.

You should also consider in the beginning the foot traffic of your business in the area. Yes, you have planned target audience but are all of them going to pass on your store everyday? What if there is no school?

Having good foot traffic gives you more potential customers other than your target customer. There was once a canteen near my school that even taxi drivers and office workers are regulars because the area of that business was in the middle of a street where many people pass everyday.

Yes, I agree with you but this its just the beginning and very basic factor... there are many others that will define the success of your business, such as:

Product Differentiation: Why would this audience choose you? You need to consider the competition, so what makes your product or service better than others? What problem does its solve? Study whats missing in the market, address it and create engagement.

Are your business sustainable?
Now that you've thought of something cool, you need to know if you will profit from it... In the begining its good and healthy to operate at a loss, until you gain consumer trust, finance marketing, etc.... But what about afterward? Are the margins good enough to keep your business running in the long term?

Scalability, trends... growth, offering instant payments and even crypto solutions... accepting Bitcoin among young people is a great thing and still innovative in many sectors. Use technology to your advantage and keep upto date. Can you do this?

Ultimately... these are questions that arise in any business, regardless of the sector. What you canot do is start something without thoroughly studying these and many other factors. Otherwise, at the first hurdle, you will go bankrupt.

The most important factor when building a business is to understand the business that you're about to start. Understanding the risks involved and knowing what to do and what not to do in other to progress in the business. For example, knowing if the business is a seasonal business then you will know when is the best season for the business and know the strategies to use for it when it is in season and out of season. Another thing is that the location that you are in will determine how  favorable it will be to you, and above all being consistent whether you're doing a service or goods business your consistency matters a lot because without being consistent, the business will crumble.

Absolutely right, that's why many business trainers suggest starting with the question "what problem will our product solve?" and based on that, you can already understand what its main target audience will be.
And in my opinion, it is best when the business organizer is at the age when he matches the target audience, because then he sees it through the eyes of his clients and begins to clearly see the nuances that can help him in the future in building and developing the business.

Target audience study is the foundation of business. Because if you understand what your customers want and how to reach them at the beginning of the business, the chances of business success increase. If you understand the needs of the target audience, they will stay with the business for a long time and customer loyalty increases. When someone understands the opinions of the audience, analyzes what kind of products and services they need correctly and provides services accordingly, the audience will be satisfied with the services they need and will become regular customers. So I think to be a successful entrepreneur, you first need to understand how to work, what their needs are, and how to solve their problems.

I call it identifying market need, and I agree with you that this is one of the most important factors when starting a business.

To be able to do business and succeed is a process, not just needing perfect ideas and plans to be able to easily succeed. Business is much more complex and difficult than financial investment. Therefore, we need to combine many factors and balance them, not focusing too much on a few factors and ignoring others.

Even if you can successfully identify a market need, but if you still lack capital, vision and adaptability. Your business will also fail quickly.

Yes, you are right, a person has to start a business with many plans. For example, if a person starts a business without a plan, then it will be really bad for him and after a while he will face losses. I have seen many people do this. First, they open a shop without planning. And after a few days they have to close it. Because they start a business without a plan. A person should understand what kind of business he wants to start and where he will start his business, and he should start by understanding all these aspects.

There are many clothes shops in a place, if a person goes there and shops for cars, glasses, etc., then his shop will never run well. So before starting a business, a person should plan properly what kind of business he is starting and what shops are there in the vicinity. If he opens a shop in that place, he should think in advance whether it will run properly or not.

Knowing what is needed at a place at a particular time is the first approach to becoming a successful entrepreneur. Some entrepreneurs go into business without proper investigation on what will be suitable at a particular place and time, after such mistake is done you find out that there won't be turnover which can indirectly lead to stagnancy or even lost of invested capital. After identifying the suitable products needed, before talking about the capital required to establish such business and your integrity is the next that plays a good role in maintaining customers

More precisely it's not the wrong location but rather the business being unsuitable for that area because the scale of demand doesn't adhere to the right concept. The difference is with street vendors, who are constantly on the move and don't settle in one place. We're not discussing businesses run in that way, because the concept of people who trade on the move usually sees short-term opportunities. Businesses must be viewed from a long-term perspective for growth, because not many people are likely to achieve success without thorough preparation.

Building a business is not easy because there are many things to consider, especially considering the competition which is constantly changing and I prefer to build a business that grows slowly but can survive in the long term rather than growing quickly but cannot survive in the long term.

in business building, location is very necessary but the most important thing is the service you want to render to the public. you can have a good location and with bad services. Have a product of service that is marketable. A product that can solve problem, or services that is most needed within your area. any product that solves peoples problem will stand in the test of time if properly managed.

Do not be in a  hurry to open a business, until your have want is different  from others. There is not business without competitor, and client will choice a product that is cheaper, easier and fast to use. If your products are not cheaper than others, client will not patronize.  Ensure your product is cheaper, fast and good for the clients, they will find you.

In building a business or small enterprise everything is interconnected in a overall manner, be it a concept, idea or anything else. Yes, in this case we also have to know the purchasing power or target customers that we want to target in that environment. Demand will grow by itself if our marketing goes well, for example by giving discounts or other things, this will attract a lot of sympathy from customers and increase sales. The capital factor is also crucial in this case, if it is not enough, it will disrupt the sustainability of the business that we are building and by combining patience and the ability to adapt. Business owners can create a strong foundation for the sustainability and growth of their businesses, even in difficult situations.

Focusing on the target audience is an important step in business, but clients are only part of the whole picture. Projects are built not only on knowing consumers, but also on a clear business model, a strong team, and proper financial management. It is also important to have capital at the start and to test the idea in small markets to reduce the risk of failure.
Furthermore, sometimes the demand doesn't exist yet. If you think about it, there was no demand for laptops or for social media when they first appeared, but now we're talking about trillions of dollars.

Making money is all about finding a need and solving it..people start up a business without really looking at their environment and finding out what's lacking...always have an idea about what people around you needs, if you can solve peoples problems then making money isn't going to be difficult...most people don't go very far with the business they are into because what they offer isn't what people around them really needs

That's right, being in a small or large community is another thing when starting a business. You don't start a business in the top of the mountain when there are tribes there because they don't have money.

But, you can bring their goods to the main lands and other communities and sell it for profit. Just like the latest expose' of some Chinese tiktok accounts about them making the same quality of the luxury brands of bags, clothes and other items that they export to Italy.

And when it's there, the last touch happens there and to make it made from Italy or any other country which is the origin of that luxury brand.

Because it sells out to a community where the demand is there and the people values the product you sell in your business.

Businesses aren't limited to a particular environment, there's a reason why some businesses find success in places others condemn. You can open a business in an environment that isn't ideal for a particular type of business but with your marketing skills and customer relationships, you can bring customers from all over the globe to your location.

People travel around the world to locate places they want to shop or just visit because of proper marketing done by the business owner. Business needs visibility and if you can master the act of making your business visible irrespective of where it's located, you won't be lacking customers.

Business needs publicity so those are things you should consider before running any business. A business won't just sell itself, you'll have to give it a push first.

In my neighborhood, many people open grocery stores. Even though they have customers, they can lose them to stores with lower prices. I've seen this happen to my aunt, who already had a regular store, but the arrival of a new store with lower prices made her switch. In the case of grocery stores, I think even slightly lower prices can have a significant impact on the community, especially for a woman who manages the kitchen.
I understand what you mean. Sometimes, there are people who are eccentric and open businesses that don't fit their environment. I mean, people have different views, so they might criticize them. For example, if we have a factory worker environment, it would be good to open a food store for them during breaks or when they go home. But opening a car spare parts store wouldn't be appropriate, right?
Pay attention to the surrounding environment. This is also quite an important thing,

Asides from having the capital, passion and the best strategic ideas, there's a crucial need to signify your target audience, understand their problems and figure out how your products/services can proffer solutions.Because a business that lack a solid foundation for market analysis will easily fall out.

Solid foundation in business plays a vital role in business development and high profit generation even the bible said any building without solid foundation will collapse while the one with solid foundation will stand so same is also applicable in business development and management. Some business owners fail to understand the basic and primary aspect of business which is knowing what is needed in any specific area and how to manage the business for it not collapse at a long run. Irrespective of any thing, customer management is also a very vital part one must know to manage because they come in different colours

Having read all of this, I think a good location explains it all that way you can get your targeted audience and build a very good customer base system. This is one key area that's important when building a business once you've gotten capital for the business. Then I would like to add a good managerial skills it's something to behold regardless.

This reminded me of a Chinese company that sells LED signs, the ones that are used in shops, or people use them in their gaming rooms and stuff. The reason why they came to my mind is their unique way of promoting their business. They have this guy, named Tony (or a made-up name, idk), who represents the brand on TikTok and probably on other social media platforms as well. What he does is he roasts other people, makes videos, and makes funny content, and then he adds his promotion at the end. He is so viral that people love watching him, and that has made their company so popular worldwide.

So yeah, you are right that marketing does make a difference, and since we are in an era where digital marketing is so effective because of the fact that almost every third person these days is available on social media, with targeted ads and proper marketing, you can easily reach your target audience, and if you can sell online, that's even a plus because you will get a lot of online customers even if you get none visiting your business physically.

Before setting your target audience, think first of a good business that would fit your personal talents and skills. It’s useless to start a business if you’re not passionate about it. And second, make a proper market research. Know what type of market you are going to feed with your items or products, it’s always better to serve a hungry market.

Your target audience will be your key towards the success of your business. However, if your business fails, that only means you serve the wrong audience, or your business isn’t appropriate on the market you are trying to feed.

You are not wrong but this will depend on the type of business owner. Every business owner knows what they want, they will surely device a patter to make their business successful. There are business owners who dont chase after their potential customers by staying in a position where the targeted audience resides a lot. What they look into is how to promote the business. And once they succeed promoting the business, nothing will stop their targeted audience from locating them. 


It's not that easy to become a business owner. Because carrying all the load on your shoulders might be too much. Modern business strategy has made it easy for business owners to device a means of making their business successful without breaking a sweat. As a business owner, you cant know everything. No one is perfect because we all have our own flaws and limitations. This means all entrepreneur should employ those that fills up their weak spot and trust when I say the business will thrive.

Honestly, most business' are moving towards online, and that is why most are doing fine at the moment. It is clear that the brick and mortar world is getting lower, every type of business that can turn into online business is turning into online business and that is the obvious answer and we are going to end up with very different results in the future.

If you really want to start a business today, I would suggest look for online ways, because having a normal shop isn't really that smart anymore. If you had one for a while, that is different, you have built a customer base and you are there already, but starting a brand new one today? That doesn't really sound like a great one and we should avoid doing that if possible.

I feel you clearly but you can only think about the end users and consumers more when.you have zero worries with your capital.  Having no capital kills all the necessary moves you want to make and take.  If the capital is settled then we can focus more on the audience, consumers more than the competitors and how to beat them. This si why I'm a huge advocate of  solving both rich people and poor people's problems. You just have to look close enough and take due necessary actions which involves capital.  :)

In my opinion target audience is not the most important to build the business because at your environment we will see other people has same products as you so if your business want to last long i think you should be compete with them and do some inovation such as promotion of marketing technique besides that one of important thing too that you have to ensure all off your product has good quality which i think this is necessary because good quality of product will make our costumers is very satisfied and automatically your business will run well because people will always buy the products and become loyal customers

I'm pretty sure, you are aware that in some countries, capital is the least of the problem. There are loan sharks or investors who have enough capital to give to anyone who have a brilliant idea they can capitalize on. If we keep looking out for capital before starting a business, we might end up not taking any move at all. At the same time, I'm not advising anyone to go take a loan to start their idea. I am only saying, you can simply use the little amount to make just one provide or create a prototype of what you want to do and pitch the idea.

Before anyone starts a business, there is a need for what they call an "area survey". You send someone who is specialised in identifying a problem in an area if you can't do it yourself because if you can identify a problem in an area and become someone who will solve it, your business will flourish. Business with good demand and less competition is the right target if you want to make it big without too much loss when you are newly starting.

Many are now starting online because physical stores are so expensive and there’s no guarantee it will click with the masses but going only first can help you test out the demand and can see if whether a physical store is worth it or not. If not then just focus on the interior.

Many factors can determine whether a business will grow or not, and perhaps we need to consider several steps as the main goal. When someone decides to start a business, the primary concern is capital, followed by a strategy to attract customers to shop at our location. Utilizing promotions is also necessary so that the business we develop can reach the entire audience we desire, and methods can be used for promotion through social media. Location is also crucial, so you sell something based on need rather than forcing yourself to sell something your audience doesn't need.

You are right bro, in addition to what you said you can also build up your business by setting up a higher standard service system , a top notch service that will attract more customers to your business, because I believe their will be some other similar businesses like yours around and their will definitely be a competition between this pair's so rendering a higher standard service can be of a greater help to the growth of any business.

Secondly, packaging: how you package or present your business also matters a lot because it showcase your identity, it show how competence and how good you are in your craft, however  standing you out above your fellows and making you exceptional.

Therefore, This two points highlighted can help build any businesses to any height.

It's called sell what people need, not what you have. But that is easier said than done and that alone is not enough, because in business there are many big challenges that we have to face. Among them, competition is considered the biggest challenge. Because even if you have an idea and sell products that are in high demand, but if you cannot balance the quality and price of the product. Attracting customers is very difficult.

You sell products that are in high demand but if you don't have a solution to the fierce competition in the market, you will hardly survive. Business is very complicated, only experience and practice can help us, mere theory cannot help us.

Yeah I agree, target audience is more important, but basically listening to your target audience is even more important. There could be a product, and there could be a million people use it everyday, but if there is something they dislike about it, you can do something similar, with the problem fixed, and then you can get so many of their customers. This is the most important difference, and as long as you can do that, then you are going to get a lot better result.

Most people miss that change, and because of that they either make the same product as the competition, or they "fix" something they do not like, but people do not care, so there isn't a problem. So they end up failing, because they didn't listen to the target audience.

What if I want to open my business via the Internet? What age group or target audience should I think about in this case? Firstly, someone who is going to start something needs to think about those competitors who also run a similar business. Today, it is difficult to come up with something that has not been offered before. Therefore, your capital and your competitiveness will be the first factors in the competition and in the survival of your business. Naturally, we should focus on the offer for whom it is directed, but again, there is nothing that has not already existed before. Originality and unusualness in marketing will also be attractive for gaining a good reputation. For a business, it is necessary to have several hands (figuratively speaking) that have time to manage everywhere.

We must be smart in our marketing techniques, what needs to be known is that people usually like discounts, perhaps this can be done to attract the rest of the public, depending on whether they will become customers or just casual buyers, the important thing is that we have tried our best. In addition, this price comparison must be considered, lowering prices is fine, but what must also be considered is the quality of the product, we must not be able to lower prices but also lower quality, this must not happen.

I agree to OP. There are many case studies about the important factors on when to build a business. Like this website provides a lot of insights of the important factors of when to start a business. It has graphs that people can look up to and study if it's suitable for their locations and situations.

https://i.postimg.cc/QMKzfPnT/your-team.png (https://fastercapital.com/topics/the-personal-factors-to-consider-before-starting-a-business.html)

https://i.postimg.cc/HkRZ8zss/factors.png (https://fastercapital.com/topics/the-personal-factors-to-consider-before-starting-a-business.html)

Of course every business has a target audience that is prioritized, including business in terms of restaurants you must have a target to develop a business, for that before doing business for me a place to open a business is very important, especially from the reach of consumers.

In terms of business actually many things that need to be learned and made the most important factor, many people open a business do not have a real target so that their business is very fast bankrupt, there is no ball pick -up system that exists.

You are right to an extent that quality & innovation are aces however ditching the target audience misses the playbook.

When you know who your audience is & understand them well, what they need & how to communicate with them, then you could drive ROI, nail messaging & create long term loyalty. Lack of that clarity spells the failure of an otherwise good product since it does not reach the right ears. Do not forget that innovation does not mean just bells & whistles but it is the answer to real needs of real people in your niche. Hook into your audience then innovate  & just slay  ;)

There are many businesses for which target audience is required and we want to sell our products or items . Now that is modern time and we can sell the things online and we can earn a great profit. Nobody hate money and everyone want to earn money by different ways but few people know that the true success is due to your traffic and you have to build traffic to be successful in life . People are taking different steps but they don't know about true business and they are selling less items .People have to sell more and more in a year and they should go up as they invested their time and Money on that but your product should be of quality then you will be able to sell more products .

I think that quality and access to the knowledge of your audience are interlinked. You may have a superior product, but unless you understand who to sell to and how to reach them the product will end up on the shelf. Meanwhile not giving them authentic quality will not leave the audience coming back. In my opinion the smart move is to factor in both, and then as you are getting to know your audience, deliver them quality that they will look forward to.

Of course, when building a business, you must have capital, whether small or large. And the business you start should be your passion, not something you just copied
or did because someone told you to, because if that's your only reason, your business will surely not succeed in the end.

And lastly, you should first scout the area to see if the community will be interested in the products you'll be selling in the area where you'll build the business.
As for characteristics, we must be patient, have self-control, and be truly dedicated.

This is true, even if you somehow magically come up with a product or a service that people desperately needed, and build something perfect, which makes millions. There is nothing stopping places like amazon,  or Walmart, or Chinese factories, to come up with a cheaper solution.

Because you can build an MVP, and even spend a lot of money, get loans and what not to build your own factory to build the same product, whereas Chinese ones, or bigger American ones, could make it cheaper than you, because they have a larger starting capital and already built infrastructure. Plus, amazon did this already, they saw some products selling off the shelves, so they made it cheaper, and in return they banned the competition who started it all.

I think you meant to mention location as the setting of the business where you mentioned school,the location of a business works with that if audience I could say and that's because it's the very first consideration especially for a new business because the location and audience determines the rate at which the business gets to grow because setting up a business where the type of business is not meant for the available audience can degrade a business, example setting up a Bar business in an area where there are just primary and secondary schools knowing fully well that it doesn't work for them as it's not meant for them considering the age and time limit but setting up a fast food can actually pay off because students always have to eat and study or even a stationery would pay off,so it's just very important to put outh these to consideration as it helps and also affects the growth of a business.

There are many things to consider when building a business, and of course, we must have capital at the start. Beyond that, I'm most focused on market demand and our expertise in running a business. I believe these are two essential elements that are interconnected to ensure we can easily run a business and be accepted by the market.

There are many techniques for advancing a business, but it's important to remember that running a business carries significant risks, so we must battle with competitors in the market to advance. This is what we must consistently do.

And how do those who have no experience start a business? And a business can be started even without capital, for example, with the help of other people's money or with the help of credit money. So this is important, but it is possible to find another solution, and it is more important to find the right niche that will be in demand in the market and where the competition will not be very high, because for a new business it will be more difficult, or you will have to get less profit in order to be more competitive.

There is no doubt that location is an important aspect of business. Because when starting a business, it is an important issue to know who the customers are and where they are located. For those who can set a good location, the chances of profiting from that business increase rapidly. But it is not always the case that a good location will increase the business. Many people find that after doing the same type of business, for some reason, the location is not good, but they can also do good business. For this, there are some qualities of an entrepreneur. You must have a good idea about how to introduce the business to people and attract customers.

If you are going to start a new business, you must have several qualities, especially a beautiful smiling face. You need to study what qualifications are needed for an entrepreneur to be a leader. You need to study in which area his business will do well and what kind of products will work in that area. If you want to start a business, you must have an idea about time management and process management.
If you want to start a big business, you need to know how to treat your employees. Above all, as a good entrepreneur and businessman, you will be a planner and you will have to think positively about everything in that plan. Without a positive mindset, you will never be able to start a business.

I agree with you that everything should have a specific goal and work towards that goal. However, along with all this, proper financial planning is important in business. If you consider how much money you have invested in the business, how much profit you have made and how much loss you have made, then the business plan is correct. Therefore, along with goal philosophy, business strategy, proper financial planning is important.

I get where you are driving at but I don't think things like having a beautiful smiling face even when it sounds more of a sarcasm should have a place in the list of things to consider because much of that is not truly needed as it won't make much impact in the survival of the business.
Though things like time management,
Proper planning, having a positive mindset and treating your customers nicely are important, what looks more important to me is resilience. It allows you to have the ability to handle big failures when they come, learn from the failures and look for a better way out thereafter. You also need to be patient with the process and have the ability to be able to bounce back from risks and failures and also learn from the process.

When starting a business you have to consider certain things before you venture into a biz, do not just jump into a biz may be you think that the biz is lucrative or the person doing it is making money so therefore you want to do the biz. One of the things you have to consider is the zeel to do that particular biz. Sometimes you like particular biz, but the zeel is not there. Another thing you have to consider is the risk involved, will you be able to take the risk in that particular biz? Another thing you have to consider is if the money you have can be able to do that biz. Infact the list is numerous to mention

When considering the type of biz, to me consider products that are affordable and something that almost every one want. For instance you cannot compare the demand for garri and the demand for clothing and as a business man or entrepreneur you are only looking for that opportunity to take advantage of, irrespective of the type of biz.a good biz man will always humble him or herself to achieve his targeted goal without looking at his status.

As per my own observation, the type of business, location, those target audience, while they can be important to consider in building a business, but the most crucial thing to consider first is that if you have a sufficient amount of capital that you will use to make your business comes into possibility.

Money is the most essential thing, that’s why those who don’t have enough amount of funds have been delaying their business, while those who have prepared good amount can easily start setting up their business.

Of all the factors that you highlighted the most important one to me is the target audience because before a business is set up what you produce and who you are producing it for is very important am talking about the target market you have to know the type of market that you are producing for.



This will help you to know what to produce how to produce so that you can have a customer base that will be easily accessible, understanding the market you are trying to produce for us key for the success of any business

If capital is the least problem when anyone try to start a business then I don't see any reason why they should sort for loan sharks. First of all, loan sharks are illegal laon operators that lend money to people with high interest rate, so high that it will be hard to pay back and if you refuse to pay back, they threaten your life because they can't report you to law enforcement since they operate illegally, they can beat you up and seize anything worthy around you when you don't meet up with their demands.

Not advisable for anyone to take loan on high interest, most often starting up a business is very difficult to bring to succession, many times when you start a business you might failed before you becomes a successful owner of any business. Now, if you are having loan with high interest rate, you are going to be making money but you might be paying the money back to where your capital comes from, where do you start making profits and also consider the cost of your production.

Exactly. I think we can't ignore the fact that capital is the most important factor when starting a business. No matter how good your planning, strategy, and target market are, none of it will work without capital. However, of course, someone must have or prepare all of the above if they want to start a business.

So, it could be said that even if you have a lot of money to start a business, if you don't prepare other aspects like market research, strategy, and planning, you'll still end up wasting money and time. This is not uncommon; many business owners end up like this. So, the point is, everything must be prepared thoroughly.

I agree with you, we must be able to map and plan. We must carefully plan what business we will build, map our targets, and also find a strategic location to support the business we will build.

Now, regarding capital, I think it's better to have a reserve fund after the initial investment we make. The goal is to anticipate if our business doesn't perform well at the start. It's difficult, but if we start with limited capital while we're still building, it will also be stressful.

before starting any business,have a clear, strategic and different kind of way to start a new business.have a planed out vision and mission of your business, don't just do a business go for your passiong.when you start your business from your regular passion,it helps you not to give up,even when the business is going through hard times.
  Have a good communication skills with your customers, know that your customers are right but don't allow them intemidate you.

The most important thing is yourself, not money. You might misunderstand, but if you lack the knowledge and skills, it will be very difficult. Even if you have money, we won't know strategic locations, audiences, product quality, service, marketing, and so on. We must understand and practice them to be able to sell a service or product in the future in your business.

Most people focus too much on capital. And the reason most people fail in their businesses is because from the start, they prioritize calculating capital, not calculating various forms of knowledge and strategies in building a business. People are often in a rush because capital is the most difficult thing, so they think unhealthy about what they need before starting a business other than capital.

There are indeed many factors to consider when starting a business, with location and audience, as you mentioned, being key. But with online businesses now becoming a reality, sometimes we don't need a strategic location to serve as a kitchen or factory for our own business. I have an aunt who's been successful selling online. She even received some household items for free because companies were interested in collaborating with her, so they gave them away, and the rewards had to be advertised as attractively as possible.
Funding is crucial, because starting an online business requires capital, but it's likely not as large as starting a brick-and-mortar business like a brick-and-mortar store.

Is that affiliate marketing? I've heard it does pay well. You just need a number of followers who always watch you then you promote items in your videos that are being sent to you.


The challenge in having an online business is marketing. Since you have no physical store, you have to make extra effort in promoting your business. You'll need connection and social media presence to spread your business. With poor marketing, your online business will not succeed in the long run.

Understand this situation especially that you have lots of competitors online.

But here you can do this thing.

Create daily content with your product and make sure that your videos is entertaining.
Do live selling in Meta,Shopee and Tiktok since this platforms are huge then provably you can get lots of buyers especially if you are consistent doing this on daily basis.
Hire affiliates to promote your product and this is famous earning options done by this people so start introducing them your products especially to those influencers that had huge followers.

Consistency is important and success will not be gotten in one day or instantly if many people know then like the quality of your product there's good chance that sales would follow.

Starting up a new business the first step to be taken by the business owner is to know the business he wants to set up, make inquiries to know the location he has chosen for the business if there is an already established business of that kind in the location, understand good customer relationship to attract more customers to himself. If you only establish a business because you have passion for it without considering other things you will end up suffering yourself when you can't meet up with your rent due to lack of customers.

When your talk about passion, doing what you you're passionate about doesn't guarantee success, I think you have been able to say other things that I can agree to that every person that wants to start up a business should to help foster his or her growth in the said Business, there are many things one needs to do, as a starter, you will have to look out for things that are mostly needed in the area you want to set up your business, you don't just have to jump into business although it depends on the business but whichever way you just have start something that you'll be able to get patronage to enable you grow, knowing that your customers are right as you said should be secondary but you need put up a mindset and strategy that will enable you grow in the business.

Let me answer, with help from others, whether in the form of investment, lending, or simply providing capital, and with credit assistance, I think it's fine; it's not wrong. But what is clear is that those who will start with this kind of assistance must really manage it very well. The risk of loss may occur because, of course, the name of the risk is definitely there. But if we manage it very well and very carefully, this risk is possible, even if it does occur, it may not have a major impact on the business being run.

Affiliate marketing is a type of performance-based marketing where a business rewards one or more affiliates for each visitor or customer they generate. (https://id.wikipedia.org/wiki/Pemasaran_afiliasi)
In my country, many people have already become successful affiliates, and quite a few others want to do the same, including my coworker, who is currently starting out as a skincare affiliate. Her profits aren't that significant yet, but I always support her because even having that desire is a good step.

And yes, the key is in the marketing, because if the marketing is not interesting then maybe no one will be interested in buying the product being marketed, luckily my aunt is quite good at marketing because she is also a woman so she is most likely good at speaking. With my friend herself, she does not use her own audio text, but she only videos the product and provides information also filled with trending music, this might be a little difficult for the product to rise or go viral and many people

Customer is king, if only because they represent cash flow.    You can get finance from a bank but the bank is going to look at whether you have the sales, have the orders to ever justify a loan.   That goes all the way up the food chain, big and small business will struggle to get backing if they cannot provide data on customers waiting for their product, projected cashflow to even pay off the loan is key.

Could apply this to Bitcoin and many other considerations, I always consider the widest possible audience as the strongest chance BTC has of taking off.   All the other fancy pants people talking about whatever rely on that backbone of plain people holding tiny amounts but millions of them is what we hope are regularly involved, so they are the ultimate audience that should move or make BTC bullish and the rest is speculative.

The same in my country. Because of how convenient online shopping has been, there are a lot of products to get affiliated with. Just register on the online shopping that's very popular in our country, we've got 2 so far and just promoting the link alone on social media will be fine and you'll get the commission once the sales are successful. It's not costly but you'll have to make the marketing very convincing and it's up to you on how you'll make those promotional videos. So, you're right that marketing is the key to it and it's passive income once you're able to establish those links, promotional videos, articles and any other marketing materials.

One thing is knowing the business you want to do very well most people go into business without carefully understanding how the business works because they see people doing it and become successfull and they decides to try and they end up not been successful. Another thing to site is your location location matters alot and your business will be what the environment can't do without and it should also be in a populated area so your business can grow fast, school environment is always a good location to do any kind of business.

I do agree with you because I know that your target audience is the key to any successful business. Otherwise it is just a kind of guessing. However, I would say the other two pieces that are frequently neglected are testing your demand and knowing yourself.

Many individuals think of a good location and then expect success, yet even in a school setting not all ideas are successful. To take an example, students might require printing services during exams but not heavily spend on it throughout the year. When you rely entirely on those peak periods as the basis of your entire business model, cash flow will not be stable. That is why it is worthwhile to pilot the idea with small tests perhaps set up a stand at the weekend or just take a survey of students on what they are actually spending per week.

The other important thing is to know what you have to offer and the business under the hood. People will imitate a model because they will see them making money but they do not know that there is a lot of hidden work. As an example, operating a small cafe close to a school might seem easy, but the margins are low, managing supplies is a challenge, and the competition is intense. Enthusiasm alone will not support the business without knowing these challenges.

Yes, audience and location are important, but with that combined with adequate research, small scale testing, and self awareness, the base will need to be more firm. Personally, I believe that is the way you minimise the costs of trial and error that drown most small businesses.

Anyone that goes into a business because a close friend is doing it would most likely not succeed, a business person must have a good understanding of how the business operates before going into it. Also, the person would need to be very strategic to be able to attract customers in other words being customers friendly is also very important cause someone who's rude would end up chasing customers from patronizing him or her, running ads is also important to promote businesses it would help attract customers from other locations to patronize the business.

Very good argument you made here dude, some people think that because there friend are into a kind of.business they think that they do well.ik such business when they try it out but they fail to acknowledge some facts about life which is destiny, which we know that it suffers, I have what am good at, my friend have things he is good at too, our business sense differs, is not a most that anything that works for me, will work for my friend, so whats the need of going into the same business with my friend, all you pointed out, are the major things an intending business person should consider when starting and after setting up the business.

Business have principles so they need to be properly observed so that it don't get to a point were the business will not make any profit at all and what ever the business might be they should learn to do a lot of research before jumping into investing in them. And a lot of people don't do background check before starting a business and the information you get are what is suppose to determine if they will establish the business or not finds is very important.

And know if the environment of established is suitable for that kind of business and also know the kind factors that will affect and the person can even do a social experiment to see what the result will be like, business is only for serious minded people.

If you want to do business, then you must take maximum risk because every field is challenging. If you want to do business, then first of all you have to see how much people are coming and going in your area and if you start a business there, then you have to keep an eye on how much profit you can earn. You can do business where institutions have been created, if you can create a business institution around it, then you will be successful because students will shop and hang out there a lot. Moreover, before starting a business, you have to be aware of more things and gain maximum experience, besides, take advice from successful people, it will be good for you.

Given today's technological developments, shopping for anything can be done online. Although there may be some products that cannot be purchased online due to the dark side, such as fraud. However, what is clear is that many people are taking advantage of this development by selling their products online, and those who are successful can be said to be because this online business is real, not just empty talk. We know that nowadays there are a lot of advertisements being marketed, one of which is through cell phones. Almost all cell phone companies provide attractive advertisements because the goal is to attract a lot of people. So, this attractive marketing has a significant impact, in my opinion.

A target audience is a specific grouping that becomes the primary focus of a business's marketing strategy. This group consists of people who are most likely to be interested in and need the product you're offering.

If you only identify schools nearby and target students, you're only engaging in target marketing because the market segment is still broad. The target audience should be more specific and based on detailed data. An example of a target audience might be male students who enjoy playing games. Therefore, this is more focused on individuals with specific characteristics. Target audiences are typically used to design more specific advertising campaigns or content.

Target audiences are indeed a crucial factor in building a business. A clear understanding of your target audience makes marketing more targeted and efficient. Knowing who your target audience is allows you to allocate your budget more effectively and avoid wasting money on irrelevant advertising campaigns, ensuring that your marketing messages are targeted and better aligned with consumer needs.

There are various aspects in the formation of a business, if one of them is not complete, then that business will not develop properly. To start a business, it is essential to gain experience in that business at the beginning. If you do not have experience, then it will be difficult to succeed in that business. Moreover, in a competitive business, if you are not able to provide better facilities compared to others, then you will never be able to achieve good results. Before starting a business, you must have an idea about the service and have knowledge about how to attract customers, otherwise it will not be possible to succeed in the business.

Your answer is certainly correct, but in reality, not everyone is able to manage borrowed capital properly, so some people are also unable to run their businesses properly on a more appropriate path. While I don't deny that some people are indeed able to run a business properly with borrowed capital, those who do will certainly face quite a challenge if they encounter obstacles that could hinder their business's growth. However, I still admire those who are able to do so with borrowed capital and make their business grow rapidly.

Good location is another factor people should consider before starting a business no matter the kind of capital they are holding to start up a business, good location like where population of people are living in that geographic area will help business men and women to make good income from their business,  good communication is another factor that can help business men and women to build a good business without afraid of lost in the future because as a business man or woman, you have  the ability to communicate to your customers in many ways to make sure they are aware of any new products that is on board, for them to know you counted them among your special customers you always communicate to, and it will be difficult for such customers to be deceive by other sellers around the market.

While I see having that target audience is crucial, but I have to agree on you that having high experience on the kind of business you are going to build is the most important factor. You don’t just set up business for nothing, but you aim to gain the best success and biggest profits as much as possible, so make sure to build a business that you are much capable to manage in the long run.

This is just mere knowledge and understanding on the business you plan to start with, but this is more on the skills and experience that you wish to keep growing and developing throughout its existence.

The first approach towards exterblishing a business is finding the product that will be needed within the specific location you intend setting up your business to avoid establishing business that won't have turnover at last. In business constant turnover is what is needed to maintain business and when there is no constant turnover the business owner will be faced with no option than to quit, so to avoid such mistake proper investigation should be carried out to know what will be needed within that vicinity at that point in time. Some go into business without putting such factor into consideration and at last it turns to a wasted investment.

Every businessman should do his job in the same way because these are the things that attract people towards him, because of which people start buying things from him through his manners and the way he talks to them. The biggest reason for this is women because when you talk to them nicely, they go to him again with happiness and confidence to buy goods and if you do not treat them well, they will never come to you. Being honest in their work is the best sign for every businessman, which can help people to get better profits in their work. Today, all this has become very common for money, due to which it has become difficult to trust people and due to this, the business of many people is also in trouble.

Well, with that, it is a problem for each individual, because I think not everyone who borrows money for business capital ends up bankrupt, but there are some people who are successful with their business and even able to open branches in other cities, I myself once worked in a fried chicken shop and there were many branches after I worked there for quite a long time, I started to get close to my boss, and what my boss will do one day is open another branch and the option he will take is to take out a loan for capital from the bank. But I don't know the current situation because I have been working for a long time

A person must have very good observation skills to build a successful business. As you mentioned, if you open a business around a school, college, or university, you must know what the demand is mostly at that spot or location. We know that students have specific needs, like stationary, books, and if it's older students, like in college or university, they will be needing for a place where they can sit, drink some tea or coffee and have a conversation with friends. That's why, if you observe all these things, and then decide to open a business that has a demand, you will have success for sure.

Copying others is not a good thing, observing what they do and also observing the demands of the people, that's how you run a successful business. You mentioned about taking advice from those who are successful, it can be good, but I don't believe in that, because I believe most people wouldn't guide you well since you are going to become a competitor for them once you start the business. So, do everything yourself, but do it properly.

I mean "copying others" could technically be a good business idea, only depending on how well they are. If they have done a great job and you do the same and you make a great return too then yeah you are going to end up with a great return too (of course if you can execute like them).

The downside is, they already did it, so why would people prefer you, a knock off. That is why I think it's quite important for us to get the result we want based on our own methods and not what others are doing. This is not going to be easy, so we need to make sure all is well and not having any trouble with it. This is hard and difficult, so we need to take our time, and even consult others in the business to see what they would say about our ideas.

You are actually right, understand your target audience is actually the foundation of any successful business. Taking time to study the people around you, actually helps a lot, like you highlighted earlier, having if there's a school  nearby, it's a great idea to start up something that student actually need to survive in school and make their studies possible, for example selling of books and pen, that'd writing materials, healthy and affordable snacks, or even a quiet park to relax and rest their Brian.
And also knowing people around you and those who patronize you help your business, when understanding what they like and can afford it becomes more easier for you to provide what they need and connect with them. So yes identifying and studying your target audience is the best way to keep a successful business.

That is what is making many people failed doing a business, because they don't really have plan and they don't know how the business his, since they see someone successful in the business they will like to do too and see if they will achieve there goal on it too. The main thing you need to look at if you want to start a business is the environment that you are trying to start business. You need to observe it first and see if you are in the right place to do the business. Then you can go trough the target audience and see who you will offer your products too and make you successful. Not every business favours everyone they get some business that I will do and successful and if another person try to do it he can probably failed because the way you treat customers is not the way I will treat mine. To understand how to run a specific business help alot and he will make you achieve your goal easier. if you know how to treat customers well and you need to produce what customers need most in the environment you are doing the business.

In my area, I see stores that sells almost the same products. We've got these small stores from each corner and they literally are copying each others products and business ideas. It's a common thing here in my country that what people see that's profitable, they're also going for that business. If the snacks are sellable, the other competitors will also do that. But this type of competition is weakening the market of someone who's got a good name already as it's taking the loyal customers from the new competitor.

That is right, knocking off and selling cheaper which is giving both the established and competitor one lesser margin. They're both killing the market that they are in until expensive rent hits them badly.

It's the same as the area where I live now. Many people always follow what others have done for business under the pretext of competition, when in fact, if we look deeper, this kind of thing actually stems from a feeling of not accepting that others are capable of doing something while we are left behind and cannot reap the benefits, which makes them do exactly the same thing under the pretext of competition.

This kind of behavior should be reduced because, after all, if we want to succeed, we must find something that ultimately sets us apart. It's not just about the capital we have when it comes to business, but also about strategy and unique characteristics that can ultimately add value to support the business we run.

Before starting a project, it's important to learn the craft and succeed by working in it. After establishing a budget, selecting and reaching your target audience is crucial, and building a lasting audience requires a separate effort. In this case, you need to strengthen your connections and build a strong network.

You already know your target audience, assess their needs, and fulfill their desires. Don't forget to seek feedback, be consistent and dedicated.

the factors to be considered before establishment of any business, are the following
1.The environment
2. If they're accessibility for the environment
3. Availability of social amenities
4. The population size of the environment

So all these are listed is the primary things that any person that want the establish a business or want to build a business have to look into before the establishment of any business in any environment you find yourself, this are called a market surveyor, you need to know if you have a strategic point to establish before you could beat up your business, without noticing or knowing the population size of the place if you will have a traffic when you establish, if you establish without this findings you will end up crashing

Start by walking the area and talking to twenty people to learn what they buy and what they need and record short answers on a simple sheet so you can spot patterns and pick a service or product that matches daily habits and peak times of foot traffic and local routines.Create a tiny test offer with a one page reservation form that states the product or service price and simple delivery or pickup options so you can measure real interest without spending much. Drive traffic with a small boosted post or hand out flyers in targeted spots and aim to send fifty people to the page to see conversion rates and collect contact details for follow up and quick feedback.

Measure only what matters such as inquiries preorders conversion rate average order value and repeat customers and run a thirty day validation plan that tells you whether to pivot scale or stop based on simple numeric thresholds and honest review of customer feedback.

I understand what you're saying, with the intention of coming up with your own results, not imitating others. Knowing their opinions on the business idea we're going to pursue might not be important, but I think it can actually be quite influential. Imagine when we've run out of viable ideas, but when we discuss it with friends, I think new ideas will emerge, but the initial idea won't be discarded. Considering that everyone's thinking is different, this is worth pursuing.

That's already in the roots of those people that keeps on doing it and unaccepting when others are thriving with their business. So no matter what type of business the others do as long as these people are bitter with their situation and can't accept other's success, they'll do it. You are right about that, we call that here 'crab mentality' because just like crabs, they're crawling to others just to be on top of them. But let's all just wish that all of them will be successful in their own different trades and also in their walks of their lives.

Marketing is basically the backbone of a business; you can't run a business successfully if you are not very good at marketing it. Adsense and social media platforms are good for online businesses, even some offline businesses such as fast food chains and stores can utilize them if they know they can get orders online and then deliver the product to the customer; however, for most businesses that are run in the actual world outside the internet, it's essential for them to beat their competition when it comes to promoting their brand and their products, so that they can attract as many customers as possible.

For this reason, it becomes very important for businesses to hire the best marketing managers and those who can create marketing ideas and then make the team do the rest, such as designing work, allocating the budget, and rolling down the schedules. It is also very important to pick the right spots for promoting your business, because you need people who might be interested in your business to see the promotions or marketing material. Like, you can't be promoting school bags on a promotional space in front of a hospital.

Reaching audiences can easily be done now because of the internet. Before, you need to publish to newspapers, book a radio and TV ad if you want wider reach. But this time, it's easier because of ads that people can apply and pay for so that they'll get their target customers and get into the niche. Good products won't be sellable if they are not known to the customers and so you need to introduce your product in the right area whether it is a physical area or give yourself an online presence which is easier and convertible to sales nowadays.

Every successful businessperson, or let me say, anyone who wants to start up a business, must at least know these: have a clear business idea by conducting market research to understand the customers and create a business plan that will bring out your strategy and financial needs. You also need to secure funding, then target the right audience in a suitable location.

The most important factor is that anyone actually wants or needs whatever you sell/provide. Everything else comes after that. Not even the best and most perfect audience will help your business succeed if your business idea is not worth anything.

Many business ideas have been done again and again and again. There is too much competition to the point where opening another such a business will not bring in much or any profit.

If you have a good business idea the people will come.

A need is essential for a purchase to take place. If a product is needed in a region and you make it easy for people to access it, you're doing a good job. Of course, making a profit is also important. When planning to generate profit, understanding the region's needs and bringing in products to address their needs can be advantageous.

Many aspects must be considered when establishing a business, because for a business to generate profit, it must sell a product or service. To sell a product or service, the region needs to have a need for that product or service.

What I think is the most important factor one must consider when building their business is quality. Quality of products, quality of services, quality of delivery, quality of branding and so on. It begin from such intentional idea. Before you go into any form of business, learn to understand the rudimental aspect of the business because it is what will determine your long stay in the business. There are so many people who are already doing what you intend to do, there are plenty others already reaching the audience you are trying to penetrate, so the only thing which is going to stand you out is the quality you put into your business as it will also determine your standards.

One important thing about business is starting a business while the other is making profit from it, some people go about exterblishing a business without proper investigation on what will yield high turn over within a particular environment. Identifying what will be needed within your environment at a particular time gives room for increase in profit therefore, the most important factor to consider in exterblishing a business is identifying what the people within that area needs before considering other factors like the price in other to attract more customers. Once the above mentioned factor is recognized, then we talk about customer service, treating customers with respect is also a good marketing strategy that helps in business development.

I have noticed over a long time that, building a business focused on household necessities can be one of the best options. Its movement tends to be more stable because it's always in demand, and because it's needed by everyone, it will be easier to attract customers. I think that kind of business model can last for the long term, even if the profit gained is smaller than other businesses.

I think it's a good idea for anyone who wants to build a business. The amount of capital needed is also not too large, especially if you plan to build a business far from the city center. The supply chain for basic necessities also almost never breaks, which means the risk of your business stalling is nearly impossible. Of course, there are many other businesses that can provide a greater profit, all you need to do is start.

Not only in business but when starting any work, we must set goals. And when we start a business, it is essential to determine the target audience. If I understand the needs and preferences of those who will receive my product or service, then my business will run in the right direction.
Target audience analysis increases sales and provides valuable information for future business decisions. It also results in better implementation of product development, pricing and market strategies.
I think target audience is the initial and important step of business. It reduces business risks and leads to success.

Market survey is a compulsory strategy at harnessing the right approach of the market. Knowing the budget needed to push the business to the eyes of buyers comes through surveys, which is always affordable. It's a kind of way of being in the market without being established yet, the investor or business person isn't just going to the market for the first time when they open a shop or build an office. With that If the target audience is nice and responsive to the business they'll be no double mind in making the right decision on budgets and planning.

I think creating a business plan is very important. That way, you'll be more prepared for whatever comes your way. With a business plan, you could have an estimate on how much capital you would need to effectively launch your business and stay afloat irrespective of the several competitors in the market.
Of course, knowing your customers, what product or services they mostly need and how to go about efficiently obviously helps as well. Lots of capital should be kept as well cause you'll be competing with already established businesses for customers. That can be costly.

Agree to say that identifying what the customers need is very essential, and this will determine if there will be a progress in your  business or not. Because you can't be selling goods that has a low level of demand, I have seen Alot of people diving into any business that comes in thier mind without bothering to know how the business works and also the things they need. They feel that having the capital to start up is what matters the most, that is the reason why some business after the first month that the business is been established if you come back the following month you will discover that there's no improvement in the business instead you will be experiencing some shortage of goods. and this mostly happen due to lack of knowledge and lack of business planing, so for one to establish a successful business you must have this quality.

Having a right sets of plan will give you that understanding on what actions to take if situation happened when starting a business, if you anticipate correctly you'll be able to bring decisions and solutions to cater the concern, having the right knowledge about the business and keep continue learning about competitions and all the factors that affects your business will allow you to expand with that experienced will established your business along the way.

You're right, and to be able to properly analyse your audience and to understand their needs and demands, it's important for you to have proper knowledge and understanding of the business you are starting. This makes it easier for you to understand their interests or be able to grasp what they want even if they aren't able to specify it properly. This is the reason why for you to have a successful business, it's essential that you get into the industry of your interest, and don't jump anywhere only because you believe there is scope. Remember, there is scope in everything; it just depends on how you do it.

So many people start certain businesses only because they have seen other similar businesses doing very well, but they don't realize that the businesses that are doing good are being run by people with experience in that field, and if you don't have that experience, you are only going to waste your resources and won't be able to get anything out of the business. So when it comes to businesses, you don't really need to get out of your comfort zone.

Determining the target audience is very important in business. Because who will I serve? If I start a business without knowing what kind of product or service they need, then I will not be able to provide the service or product that they need. The purpose of business is to meet someone's problem or need, so first you have to create a product according to their needs. When someone studies the target philosophy, he can successfully pass the first stage of his business. As a result, you understand what they want, how much it can cost and what they need the most, as a result, the business survives in the long run and expands. Therefore, determining the target philosophy at the beginning of the business serves as the basis for the success of the business.