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There are several key things you should have in place before starting a business to increase your chances of success. Here are some suggestions:

A clear business idea: Your business idea should be well-defined and specific. You should have a good understanding of your target audience, competition, and the problem your business solves.

A business plan: A comprehensive business plan can help you identify potential obstacles and create a roadmap for success. Your plan should include a market analysis, financial projections, and a marketing strategy.

Sufficient funding: You'll need enough money to cover startup costs, ongoing expenses, and to keep the business running until it starts making a profit.

Legal and regulatory compliance: Make sure you're aware of any licenses, permits, or certifications required to operate your business legally. You should also consult with a lawyer to ensure you have all the necessary legal documents in place.

A support network: Starting a business can be stressful, so it's important to have a support network of family, friends, or mentors who can offer advice and encouragement.

A marketing strategy: A solid marketing strategy can help you attract customers and establish your brand. You should identify your target audience, research your competition, and choose the most effective marketing channels for your business.

A strong online presence: In today's digital age, having a strong online presence is critical. You should have a professional website, social media accounts, and other digital marketing strategies in place.

A team: You may need to hire employees, contractors, or consultants to help you run your business. Make sure you have a plan for finding and retaining the best talent.

These are just a few of the key things you should have in place before starting a business. By taking the time to plan and prepare, you can increase your chances of success and build a strong foundation for your new venture.

All the points the OP listed are very essential in starting and running a successful business. Many people start businesses they know nothing about because their main aim is to make quick gains. They fail to understand that planning is very important in business.

Recently there have been fire outbreaks in some major markets in my country. And this has led to the loss of goods worth millions of dollars. The truth is that most of these business owners will go bankrupt because none of them have any insurance policy. So I want to add to your list that every business should consider taking an insurance policy to protect the business from unforeseen circumstances. I know it is not cheap but depending on your business, an insurance policy might help to sustain businesses.

they key very first thing is this

finding a niche
this is where you know something is needed by many people. then you come up with an idea/solution to fill that need.

there is no point having a business that just does the same thing thats already very popular because its already being served and needs already met(saturated market).

by finding a niche need, means there is already a lack of competition(untapped market). and already a demand. thus when you start supplying that demand you are already ahead of the game and getting better customer flows without competition. thus many headaches avoided and less work to fight against

take the bitcoin vs crap coins for example
bitcoin became popular because there was nothing like it before it existed. and now there are thousands of crap coins THAT FAIL because they dont fill a niche. they instead just try to replicate something thats already serving the masses. but no one wants the cheap replica/counterfeit/copy. even if its offered at a 1000x discount

If you're reading this to find a tip when and of how and when to start, Just start. Business is simple. Just "money In". Do something that will make you money. Making a logo won't make you money but finding a good prospect whose willing to exchange their money to the value you're offering regardless of not having an online presence, logo, marketing, or supporting network is a sound money making business. You don't need a perfect plan. A good plan executed today is greater than a best plan tomorrow. Just do it now. Business is money in. You don't need a strong foundation right away,  but you need strong character to start and continue. Some do business because they are bored, want fame, or recognition despite of not making any cents. Real business is making money. And your success depends on your own definition.

While it's true that making money is the primary goal of any business, there's more to it than simply "money in". A solid foundation, including a well-thought-out plan and a clear understanding of your target market, can make a huge difference in the success of your business.
Having a strong online presence, a well-designed logo, and effective marketing can help attract potential customers and establish credibility in the marketplace. Additionally, a supporting network can provide valuable resources and connections to help grow your business.
While it's important to take action and not get bogged down in planning paralysis, it's also important to take the time to develop a solid strategy. Rushing into a business without a plan can lead to costly mistakes and missed opportunities.

Ultimately, success in business is about finding a balance between taking action and planning ahead, and defining your own version of success.

finding unpopular niche nowadays is very hard, since mostly are already on trend while most the niche are in the online industry. IMO, most people who wants to start sidehustles or business will prefer online since the losses are manageable compared to physical businesses where you need to set-up your own shop. aside from that, like what you have said that you need to ensure that you have insurance policies just in case some problems may occur. nowadays I have heard lots of influencers talking about niche this and that, and then it ends up talking about affiliate marketing. it is pretty interesting though if you have plans to make money if you have enough followers already.

Yes, starting a business can be a daunting task, but having the right essentials can make the process smoother and increase your chances of success. Some of the essentials for starting a business include a clear business idea, comprehensive business plan, adequate funding, legal and regulatory compliance, support network, marketing strategy, strong online presence, and a team.

By ensuring that you have these essentials in place, you can create a strong foundation for your business and set yourself up for success and I also believe that starting a business is a journey, and it takes time and effort to build a successful business.

Finding a niche is one of the basic qualities of a business that will perform well but it has some challenges. A niche is an improvement of an existing idea or offering something new or different. Customers will gladly accept such service or product but it attracts extra cost to the goods or services. A firm that sells electronics and offers free installation service will have to employ more staff. New products sometimes are not accepted by customers easily. Most times people are used to particular goods and they don't want to use or try another one. But when the firm starts succeeding it will outshine all competition.

Niche is something you master, something you really love to do, something you really specialed and something that you are really passionate about doing it. A lot of businesses nowadays are keep failing because they keep starting business that can be considered follower the followers which means that they are creating business because it is the current trend business which they really pure copy not just the idea but everything. They are really not passionate or what they called niche in that kind of business, they just copying someone's idea because they know that it is the trend and for me it is a big problem that it can be considered as main factor why it only give them short term return and it will be a big problem in long term.

By identifying your niche, you can easily think a business that have problems and solutions that you can easily solve. For example, my niche is crypto and stock trading. The current problem that I see is a lot of people want to learn crypto and stock trading so for my solution is I will create a business mentoring program that will teach how to trade stocks and crypto in different types of person. It is a simple idea of creating business out of niche. Be creative and make sure you use your brain to think daily in order to create and start a very successful business.

The major things someone have to put into consideration before establishing business, the first is to have a self determination, secondly you most at least know the preamble or neither mastered the business you want to venture into before establishment, I believe that another thing important to be considered before establishing a business is to know a good site for establishment and population rate of people living in area you want to establish your business.

I agree with your statement, but of course for you to establish a business you would need to have proper planning. It includes the mission and vision of your business, the long term situation, the target audience, capital and workers. Of course you'll need to be determined in building a business since its not that easy to just simply have one. You will also need to have papers and legalisation of your business, there will be taxes if you operate a huge business. And your mind shouldn't only focused on the current situation or trends in business, you need to look forward in the future for your business to run in a long period of time.

Yeah, nobody who's wants to establish a business that doesn't have a proper agenda, the agenda of business woman or man is to ensure that it's business is flourishing, but the factors that hinders business not to accelerate or accumulate as expected, is when you are unable to figure out a good site, secondly lacks of management when the business is in progress, I think that should be a major factor while business does not prosper. Any moving business suppose at least have a backup plan's, so I believe the back up is what that can keep business to be substantial or sustainable.

A team is all you need to get a clear business idea, this consists of good business plans, and better marketing strategy, and all of your points combined, minus the funding part, many new startup projects need funding, and I believe unable to raise a fund is the main difficulty that many ideas are not brought to light till today, every business must have the funding idea in mind before embarking on the journey, this is what will make things easier, lots of money needs to be spend on advertisement alone apart from other things.

A proper planning and vision can not work out with the proper funding.

I see many problems raised here, but to be a little honest because I see a lot of startups appear and they also apply the theoretical formulas of experience of their predecessors, but not everyone gets success labour. Any new industry or entry into the competition I believe it is always necessary to start researching, I like to start with the basics before talking about the broader knowledge. But what the OP mentioned to me is very reasonable, but I also understand that the application is not easy, even myself or the organization will have problems in the process of operation or development. In addition, successful business also needs progress and innovation, the ability to learn and adapt to new trends in business and the market.

And the second key is "doing it" which is very difficult for some people to start their business because there are many doubts and others that push psychologically to be afraid of failure, things like that are difficult to avoid even if we already have ideas and support - other support such as planning and concepts that have been prepared for business trips that have been prepared.
Talking about starting a business is not only about profits and about getting rich, but there is a lot that we will have to learn and consider because there will be many people or workers who depend on us for their family life and there is much more that needs to be thought about and considered, from afar we are don't have to think about it from the start because it will be very hard, the thing we have to do for the first time we want to start a business is to do it even with a flawed preparation, we will know the mistakes and opportunities that we might not have predicted before, if we want better then evaluate every mistake and fix it slowly if it is difficult.

Those are the elements needed to start a business, but even if you have enough of those factors, there is no guarantee that you will succeed, if success comes so easily, no one will fail. defeat at all. Life is colorful and everyone will encounter different situations, so the same formula will have winners and losers. For me, if you want to succeed, you just have to work, work, work hard, if you fail, keep getting up and never give up until you succeed.

None of what I listed is fail-proof for a business endeavour. They're only just a suggestion but you will agree with me that having a plan is better than having no plans as one is closer to failed business than the other and it's not the former.

there are many niches.
the first trick. is find the problem

most people complain that there are not any/many bitcoin services in their region.. this is not a problem its the trigger of a solution

if you cant buy pizza using bitcoin in your town.. there is your opportunity. offer financing(exchange) service to a pizza place to start accepting bitcoin. or open your own pizza place that offers bitcoin

years ago i done this. i started simple. knowing that the retailer was legit and trusted in community and bitcoin usage was going to start slow. i simply gave them a "bartab" upfront of a reasonable amount of cash and a QR code. if anyone asked if they accept btc they simple show the QR code . the customer pays that address and the retailer simply takes the cash from the tab and puts it into their cash register. the retailer knows they got paid and served a happy customer.. there was no drawback as the retailer knew they would not lose out on money or customers. thus they easily accepted the trial

then when it got popular you set them up with formal exchange or set up a better contract with the vendor to service them more officially

if you know about the technicals but see there is not much discussion in your region. you can set up coffee mornings/meetups and if it gets popular seminars/conferences.

people like novelty items like metal collectables. you can see if there is a medal/trophy/coin engraver locally who can create bitcoin metal coins. which you can then sell
hats, t-shirts, etc

local tutoring for academics wanting to study crypto

.. so first step is to find the problem locals want a solution and become that provider

there are lots of side hustles
ive seen businesses complain about the price of printer ink. so someone came up with buying ink refills and sell them cheaper than branded(but profitable for the guy).

even things like businesses not having good catering in their employee kitchen area or old people that cant cook for themselves. . simple things like reselling food.

there are many niches. just need to find them and usually you find them in the most mundane places

simply:
find a problem. become the solution

All are necessary indeed but know the things that should be prioritized; capital and concept. You need first to distinguish what kind of business would you be engaging yourself with; remember that it is easy to start a business but it would be hard to stay still 'coz if things won't be managed properly, expect a huge loss or bankruptcy. Capital on the other hand is self-explanatory. These things might be simply but believe me, these two are the core idea in a business; team, marketing strategy and the likes will only follow. Also, sometimes in a business practicality and simplicity rules. Just look at those concepts which aimed to offer something "new" to people ending up with nothing. There are times a business does not need to be revolutionary, it may come to an existing idea only; not always needing you to be complex about it.

I think what the OP said is complete enough to be followed by people who want to start a business. because it is better for us to always make thorough preparations even though these preparations will take a longer time. it's better than us rushing to build a business without proper preparation which ends in failure. One point that can be added is that it is important to have a strong mentality in building a business. because I know that building a business will also drain our mentality. because business is an unsafe zone, so we must always adapt at all times to adjust to market and economic conditions around us. we must always be ready to face various obstacles. and it is also necessary for us to make a backup plan and also reserve capital.

No post could've put that point better than you succinctly did there.

Most people just want to be in business for the sake of getting that business person tag. That's all, nothing else. They don't care if there's nothing different from the several businesses already existing. Several years ago when the GSM thing found its footing in my country, everyone who had small cash invested in setting up kiosks and stalls to run it. On every street then one could count at least three of such stalls doing that. It became so rampart that those in that business could hardly make money from it before it finally collapsed. Now, the craze has shifted to POS. There's no cut out plan to be different apart from following the crowd.

Yep i think its complete. For marketing you can use digital marketing. Advertising your bussines through social media is really good right now. Channel like tiktok is one of the best because most people download and use that app.

This is indeed the first and biggest part of it and also the most important part of it.
If you originate an epileptic idea, your business will also be epileptic. It is better you spend more of your time originating and refining your idea.
Your business idea is among what franky1 explained as niche. You need to have a clear understanding of your core essence and map out the area of less competition.
When this is achieved, the business will be as nice as the idea on paper.

In addition to several important aspects to start building a business. But the reality that we see, money is a source of certainty that we must have to start, now many people have difficulty raising money to build a business and sometimes it's not as easy as we talk. Economic conditions make many people trapped in a state of financial difficulty, so there are not many opportunities that can be taken.

Having little capital to start a business, I think it will be difficult to grow, the reality is that few people are able to develop a business with the support of small capital, unless you are engaged in a home business or on a smaller scale and the business description you mentioned in the post I don't think it's included in a home business which is much smaller in scale, so not many people are able to run the business in their current financial condition.

All of the points you've listed for a business to be successful are all valid points that any business needs to thrive in the twenty-first century. I'd like to emphasize this online presence even more. In the twenty-first century, I've seen many businesses become household names and thrive as a result of the online presence they've established for themselves. It does not imply that you are doing it, but you can employ or hire those who are skilled in that field to help your business gain the recognition and targeted audience it requires to succeed. If you have one, a good digital marketer is ideal for this.



Insurance is critical for any business, no matter how small or large, that is vulnerable to natural disasters. Making insurance mandatory for all business startups will help reduce the trauma associated with such incidents of property loss due to unexpected disasters.

That's a very good and right idea to start a business and is the main thing that really has to be done and prepared, but I think it's too perfect for some people who want to have a business with the drawbacks of the points you mentioned, I think with only having capital and core business ideas we can do it and we can fulfill other points slowly or businessmen can say it one by one or step by step to get to a healthy business, the courage to start too I think is an important point in terms of starting business because the physical factors are complete but there is no courage I think it will be a chaotic thing in the end and only on paper or wishful thinking of having a business.

I agree with what you stated to start a business, there are several elements needed, such as a clear business idea,
clear vision, good business plan, sufficient capital, team, necessary skills and knowledge. However, as you said, there is no guarantee that meeting these elements will lead to success.

Many factors can affect business success, including market competition, economic conditions, changing trends and policies, and others. Therefore, it is important for business owners to prepare for challenges and failures, and improve our business strategies and tactics to take advantage of opportunities and overcome problems.

Despite that hard work, persistence and persistence are essential to achieve success in any business or career. However, it is also important to learn from failures and mistakes, and always seek ways to improve and improve. The key is to have strong motivation and passion, as well as the ability to adapt to changes and take advantage of opportunities as they arise.

I think these two can be merged as one and it means that you truly understand the business that you're setting up. What's wrong with the businessmen that I saw that's trying to build something, they're starting from scratches and have no idea of what they're going in. I mean, that's not a problem to them but they need to have at least know what they're doing and they won't start from scratches if it's just about the business idea or concept that they're starting to put.

Another wrong strategy that I've seen with those that have startups, they're quick in launching their VCs knowing that they're just starting and haven't proved anything yet. Yes, as in with zero results and yet they're very optimistic with the idea and business that they've set up. It's not wrong to be that positive in the business or startup that you're making but come on, investors want realistic results first and what you've achieved and why you want to expand. There should be the foundation already and the business is already in operation. I just saw a group of startup people that are doing like that, no results but seeking investors to fund them. That's why I admire more those startup owners that pulls money out of their own pocket and even uses their other assets for collateral.

This is a must, another thing that I've noticed. Those that are starting, they're like making a trial and error. If the business booms, that's the time they'll register and have permits but if it fails, that cost them no money from taking permits. But whether it will fail or not, businesses should be registered.

There are countries that have this good connection to their friends and relatives that they support when someone started a business, they're all there to buy your stuff and that just shows how supportive they are. However, not all countries do have this culture of supporting each other, they're even jealous or not feeling they're required to support you.

It's where most budget is going but don't lessen the quality because that's gonna lose the brand if you settle mostly for marketing but not strengthening and increasing quality of products/services you offer.

This is the result of marketing.

Don't cut them on a budget or else, they'll won't give you the quality work so give them what they deserve even if you're on a budget.

This is going to sound like really bad advice but sometimes all you have to do is START. You don’t need to have everything planned in the beginning, if you wait for all the elements to be in place you may never start that business and when you do, you will be extremely disappointed and discouraged when things don’t work as planned. Everyone thinks they have the perfect business idea until they start, it’s not easy to be an entrepreneur and having everything on OP’s list does not guarantee success in business.

i see it as a 4 phase process

1. find a problem/create the niche
2. roll with it as a side job/hustle/hobby to see market reactions
3, listen to trial feedback/critique. tweak/tune the idea to meet needs better
4. formalise/expand it by starting a business

All of the elements could be included in the second element of the quotation, "A comprehensive business plan". It is not possible to start any business without a clear vision of the goals. The business plan is the means through which the project promoter can study the suitability of his capabilities with the reality of the market, how much time he will need, and how much he will earn. According to the business plan, it will be easy to develop a roadmap in which all the steps that need to be taken are identified.
Not all entrepreneurs have the skills to create a business plan, which is why there are companies that provide services. It is important for every entrepreneur to study and approve the business plan even if he does not know how to make it himself.

I'd say that knowing how to evaluate failure is an important part of business. Most businesses tend to fail within the first 3 years, but you can often get a feeling for whether something is going to be successful after the first 6-12 months. That being said it is an acquired knowledge that you might only learn over time. There is a very fine line to walk between perseverance and acknowledging that it's not working. It's important because it may just require a few tweaks or it may require a whole new idea to be successful. Ignoring these things can be much worse in the long run, in the worst circumstances you end up supporting a zombie business or even lead yourself into debt out of denial.

Starting a business is a big responsibility that has the ability to change lives for the better or the worse, depending on the many factors. Actually, you have mentioned some important factors, but you didn't mention the most important one, which is to have experience in the field you are joining. Idea, fund, and marketing aren't enough in my opinion, because all these criteria can't do anything if the business owner doesn't have experience in the field he's joining. The reason is that many unknown problems and hurdles could arise and cause additional costs or additional efforts to overcome, so the owner should have worked for a similar business before, which makes them aware of everything related to what he's doing.



Marketing and especially digital marketing is the most important among the points you have mentioned, in my opinion. For example, many products have very low quality and, at the same time, are the best sellers, and that's due to their marketing team or marketing strategy. Therefore, marketing is the science of this age as everything is going digital, and most of the world population will be available on the internet within a few years.

A business plan
Sufficient funding

This two would really be that something that you should focus but in overall those things listed on OP are crucial things to be considered or something that you would really be needing in balance.
This is how business should really be handled out because if one of them are really that in out of focus then you would really be having that imbalance which
might really be that in result on having negative on your business.

A niche is some place to start for sure but, there is always some room for competition and that makes offering the same service or having similar commodity ain't so bad. You've just got to have a different approach as to how you offer them. Perhaps in smaller quantity or bits and price difference. Though, you mustn't reduce the quality.

Before all that, going into the world of business could be a whole new idea for one and even, the niche for which you've chosen which means, you've got to sort out informations on what makes the field and how its been managed or operates. This could bring about your success or failure in business and your chosen niche.

Besides all the points aforementioned by OP, one point omitted or rather left out in detail and of which I find most essential is that of 'passion'.
You got to love the process even more than the idea of the business itself.
I have seen people who have done well in fulfilling the points clearly stated by OP, but lack the passion to keep up when they encounter several ups and downs as would be the case. It's not easy to start a business. it is even harder to keep up after the stress and disappointment start weighing in.
One thing I however love about starting a business is the freedom at which one expresses himself/herself creatively both on social media, during one on one conversation and even during presentations.
Be passionate more than anything and apply creative thinking.  See how things will fall in line when difficulties arise.

Ideal rules - and you can't argue!
But there are nuances - what you listed is a classic scheme for building a business. But there are situational nuances. For example, from a real situation. Permission is being introduced, for example, for the use of software fiscal registrars. And situational solution providers appear instantly. And if you are not a relative or friend of the creator of this law, you are unlikely to build a business according to the specified rules! But if you have the potential and the opportunity - you can "jump into a passing train" and situationally build a very good business!

This is what should people do if they want to start their own business it's just simply finding the demand then you supply it. Thus, you easily gain profit and the right people for your product. What the OP defined may be essential for creating a company for a business but if the demand is not met then all of it is useless. It's like you are selling new type of bread in a country where there's too much bakery almost everywhere.

I think it's best to conduct a survey first on what are the people wants and needs so that you can easily give it to them. That's why there's a lot of store owner riding with the trend because that is where the demand goes.

You nailed it regarding the significance of pinpointing your biz niche. In fact, I've been digging around, and it turns out niche-focused ventures tend to outperform their less-focused counterparts. But I gotta disagree with you on the whole passion/expertise requirement for starting a biz. C'mon, ever heard of the Pet Rock? That idea killed it, and I doubt its creator was a rock fanatic.

Regarding your crypto and stock trading mentorship plan, it's a brilliant idea! There must be a ton of folks eager to learn about those domains. But let me offer a suggestion: why not establish a business mentoring program for passion-fueled, niche-centric entrepreneurs? Name it "Niche Masters" or "Passion Payouts." It's bound to be a crowd-pleaser!

Planning everything in detail from the start is actually quite good. but it's not a must. because even we can start with only armed with capital and simple planning. but starting a business is not as easy as it is talked about. and when we start a business, of course we want to make it long term and grow. and this is where the importance of careful planning and preparation. if we do not have proper planning and preparation then it will be more prone to failure. Speculating in business is something that can bring higher risks. and this is where careful preparation and planning is carried out to minimize the risks that will be faced. doesn't mean careful planning will make everything work 100% but it only minimizes the risk of failure and maximizes the potential for success. sometimes there are people who start a business without careful planning. he started simply and let it grow slowly and his business turned out to be running smoothly and growing even faster. but the fact is not everyone experiences the same luck. so that everything still requires hard work and more effort. the same goes for starting a business.

I'm not saying they're useless, and as I said, experience is what we need most. I believe that anyone who starts a business has thorough preparation and a near-perfect plan. But we lack experience, and experience we can only learn by ourselves and can't get from others because each person will have different circumstances, no one is the same. The same formula, but when you apply it, you may succeed, but that doesn't mean others will succeed. Like many people apply the success formulas shared by billionaires, but I have not seen anyone as successful as them.

Consider also something unique. Crypto-related or not, I am already sick off milk teas being sold almost every street I walk into. It's like people think that they can earn more by blending in to the crowd of the businesses serving the same specialties and they would most likely taste the same anyway, then you would just find out that the store closed a month after and another one opened up right around the corner again. The same applies to crypto as well. There are just way too many altcoins that are just copying each other and it is getting to the point of nobody knows where to put their money into.

The idea of ​​starting business is great idea, but this business idea must suit the abilities and experience of each individual. I don't think it's good to start business without experience, let alone start new business idea that is basically the opposite of their abilities.

There are many cases where businessmen fail to develop and bankrupt because they do not have expertise in the business they are running, that is mistake that any businessman should avoid. I tend to agree that if one starts business within his or her skill set, it is more likely to achieve success in the end. I get this advice from other successful businessman, but not all ideas that differ from their expertise are doomed to failure.

Starting a business is not a joke, we are always wanting to start a business but we only look for the brighter side and not how to start a business. We do have a business before an online store for kids wear and we just simply created this and not having those kinds of plans we just set up it and we have funding and we just figure it out on the way which at first it is really working profiting but after few months we got loss and we are not ready into it and turns out it closed. Planning is really the key and also you can find out the risk on your business and if it is worth to build

People that take the time to do their research, locate a market need that is not being addressed, and then develop a product or service to address that need are those who find a niche before launching a business. Being able to enter an unexplored market and avoiding competing with well-established firms in a crowded industry are advantages of doing this. A business specialty increases the likelihood of success in addition to greater consumer flows and lessened competition. Be different and special.

This is most essential elements before starting any business. many business starter in my area failed because of not keeping about this element. Every body should keep extra double fund from base investment. Most of the time you have to just invest and their will be no instant profit and you have to just wait and make customer. There is possibility of failing at the start but your extra fund will give you strength to add new things in your business according to people interest and current trend. Once your business become famous and you get permanent customer then you will work less and will make big profit.

You have listed some good points to start a business and following such list can be helpful. However, there is a few worthy to mention like raw materials for the business. Raw materials are important to open a business and access to it is more important. So depending on the kind of business being established, you need to open it where you can easily access your raw material. For example a mining company that deals in crude oil will need a manufacturing office close to crude deposit for easy access to it. Likewise gold mining company etc. There is a relationship between raw material and cost of transportation and that is why raw material is considered as a factor of production in economics.

There are some business which people venture without any value, before going into business first search around the location and vicinity to know what that particular area are really lacking of before venturing into. Doing business doesn't mean just having to create any shop or a business centre where you could start selling, there may be some people who have started selling what you are selling and have gain customers than you, so if you venture you may finds it difficulty to grow and excel in that business because there were some people who have already taken place in that line of your business.

This post was generated by an AI model called ChatGPT. You can copy it and just paste it in ChatGPT and use the same prompt to see the result. Sharing your own knowledge is good, but copying and pasting and not giving any source is plagiarism. Which is against the rules of this forum.
There's nothing that is unique, and OP is just pretending. What can we do about it?
You could have just written this in your own words. But you choose to steal. Most likely merit farming or increasing activity.

https://i.postimg.cc/8CxBs7ck/screenshot-216.png

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I am tagging you here because many post from this profile is directly copied from ChatGPT AI. yahoo62278

Have a look.

Sufficient funding is where most people stop, because they think they can start a company for as cheap as it gets, but most of the time they can't. Let me put it this way, if you start any website at all in the world, unless you are an amazing developer and a great SEO at the same time, with a bit of marketing mind, then you are going to spend a lot of money.

Because you need a designer to design a website, you need a developer to develop a website, you need a SEO specialist to rank high, and you need marketing person to do SEM at the same time. Isn't there people in the world who can do all of that together just by himself? Sure there are, but not that many, hence you need to hire at least one other person and that costs money.

yes agree, and this is referred to as a step to develop a business that continues to stand firm. from the several points you mentioned, these are the steps that must be taken by business people so that they run as expected by business people, and all of them are correct in my opinion.
as for what we really need to pay attention to in running a business is good cooperation if we run a business with colleagues, meaning mutual trust in running the business

This is very helpful and must be learned before starting a business, most businesses that are not planned end up in losses. There are processes that must be followed for the business to be built to be progressive by applying the stated that there's a chances to grow the desired business.

I agree with some of the ideas that you offer, but what concerns us right now for business people is limited or inadequate funds when they want to run a business, so that the business that is being run always stops by itself. but for ideas and ideas it seems almost everyone has them.

Clear business idea and Plans + having that marketing is something that you should really be needing in focus but just like the rest been saying that overall these qualities and factors is really that mainly needed

when running or trying out to build a business.Somewhat it could give out that kind of assurance that you are taking or stepping on the right path and making out actions which is something
a must thing to be done by potential business owners out there. Its a standard thing and just like been said that missing up one thing out of this lists
could really be a hindrance towards business success.

You have stated some interesting points OP. Plus, it is important to make some researches on your business field before start working it.  And remember that you have a plenty of competitors, so what makes your project superior? It is basically the added value and uniqueness.  Furthermore, you have to give a value to digital marketing without it, you will not be seen even when your project is solid. Your main goal is to build attention in order to attract clients, sponsors, partners and investors depending on your needs. A lot of entrepreneurs don’t succeed due to they think being professional and good at their work are what they need a but the sad truth is they don’t know anything about digital marketing. The more you are seen, the more attention you get , the more success you achieve. That’s too simple.

I think the most important thing in business is to have the courage to start and don't think too much if you fail or lose, in 2 or 3 months I will also create a new business, namely the production of children's clothes, I have prepared several sewing machines and the marketing strategy is to combine offline and online marketing.

Indeed! Venturing into unfamiliar biz territory is like playing with fire, and disaster might be lurking around the corner. But let's face it, folks, snagging the big prize often involves taking daring, measured leaps and leaving our comfort zones behind.

So, how do we juggle these clashing ideas? One trick is starting teeny-tiny and dipping our toes before going all-in with a brand-new venture. Smart, right? It's all about beefing up our abilities, learning the ropes, and keeping risks and losses at bay.

Another secret? Team up with partners or comrades who fill in the gaps in your skillset. Working hand-in-hand, we can ride each other's coattails to mind-blowing success we'd never reach solo.

All of the ideas above are true, it depends on us whether we want to do it or not, most people are too afraid of losing money or don't know where to start, and I think the easiest thing right now is to keep trying, if in 3 months we still fail then we can replace it with a new business. In other words, don't be afraid of risks because people who dare to take risks are the ones who will be successful.

I support that when starting a business, we should have teammates because no one is perfect in all aspects, and working with teammates will help fill each other's shortcomings, but it should not be too crowded.
Another thing is that it is not easy to find like-minded people who are willing to share and yield to each other in work. I have worked in small teams and achieved some success, but when the profits are too great, human greed arises, and we consider money first. People will no longer stick together and support each other, instead, there will be a power struggle that will eventually disintegrate everything.

The business that you are running by combining these two marketing strategies is absolutely not wrong as long as you are able to do it very well. But when someone starts to lose or fail with the business he has run, he needs to put wiser thoughts in when he wants to open a new business so that the bad experiences that have befallen him in previous businesses will no longer be repeated in new businesses.

So every business thing must always have thought from the start because it is also impossible to run a business without thinking anything which will not make the business more advanced. For example, when you start thinking about opening a children's clothing production business with the two marketing strategies that you apply, you also have to think about it before you run it.

No wonder a lot of startup businesses look for full-stack developer. There were still some really great clients from a startup company that I worked with in creating their website as a freelancer but lowballers/cheap clients here really common in the field of web dev. Aside from those you mentioned, you'll still need the developer to maintain the website.

A full-stack could possibly do all of those you mentioned except for the marketing part, but it won't be that of a quality for sure especially if you're looking to get your website running quickly.

in running a business, there must be a lot to consider, especially a business that spends a lot of capital, of course, with such a big risk that is carried on, it makes someone touched to think very carefully before running it.
I think almost everyone who starts a business is ready with all the risks they face, which means they have learned a lot.

everyone has different strategies and preparations for starting a business, knowledge, relationships, knowledge about the business to be run and many other things must be learned.
but what you shouldn't be is doubtful or afraid because even though starting a business has a lot of risks, it's really worth it with all the lessons or experience you will get to be better in the future.

In my opinion, you are considering an ideal situation where you have all the resources, knowledge, skills to create your business. 

However, in practice, you may not have the resources, the knowledge, or the skills. 

Either way, the most important thing is to get started.  As you begin to act, you will begin to ask the right questions.  And when you start asking the right questions, you will start getting answers.  There are only two ways to reach the goal. 

The first is to receive detailed instructions on how to achieve this goal.  For example, you can purchase a franchise. 

The second way is to act by trial and error, focusing on the feedback system.

What @franky1 said is right that you should know your niche first, because if you don't know what your niche is, what will probably happen to you is that you will just be like others who will change the business you will do because you will not succeed.

       But if you can see in which business people will enjoy you, that's where you should focus, because there are usually people who build a business because they are just jealous, or because they just want to, or because they just saw from other acquaintances that the business was successful, but they don't want to. say that's what will happen to you.

All the tips you have given are all valid tips, but there are still a few off the book tips that were discovered from practical experience.

- Some of the most successful business people in a business are people that have had some sort of experience in business before , maybe like a business they tried and it failed but they learned from or people that have learned from other people's experience, maybe from watching closely as a staff or from reading about many businesses and business people. In all, some kind of experience is necessary.

- Ask yourself if you are the type that want to be in business for the long term. This may sound funny, but some people have started businesses that became a burden to them after they got a job elsewhere, maybe the company of their dreams. Before you start a business, try to know if you intend to stay committed to its progress for life before you begin to make plans.

When involving in  a new business you as a person need to have the business  idea first the business terrain is another thing  to consider in our society nigeria today were there is no cultural risk I think it is the best place to carry out your business as an entrepreneur or an investor most people do believe that business does not require experience or any qualifications but it's a lie i think everything in life requires experience lack of knowledge has brought us back in past when going into business but today it all gone by. Government policy is something that a good business man or woman needs to understand in other to maintain a long term business or to grow your business risk taken is also important most people today do not have a good business strategy which has been affecting them every entreprise has it own way of operations and it is good to understand them and most of all before starting a business ensure there is enough staring capital

It is necessary that our business is somehow related to our interests so we'll know how to run it by applying our strengths. Knowing our target market is also an important thing.
Our location, target costumers and our product should be closely related for our business to succeed.

A proper marketing strategy won't be a problem if we have an effective team that could empower effective advertisements both online and offline.

I would say there are two more things that'll be required here. One obviously is the spirit to do the business. Because if it's just for earning money then eventually you'll get bored of trying again and again and end up losing interest in it. Second is your definition of success of this business idea. Honestly these days we all know to scale up you need funds and for funds you need dillution of equity, so the decision is how much? Are you planning to eventually sell your business to a VC? Or you are planning to go public by your own. Basically at what point you'll be considering it a success. This is important if you want to be happy.

It is true that this is a challenging but rewarding journey that requires a combination of passion, drive, and strategic decision making and when seeking funding and considering equity dilution, which can have an impact on the ultimate goal and definition of business success. Hence, the question arises, how do entrepreneurs navigate this balance and achieve financial success and personal satisfaction?

All of the things which you mentioned are really beneficial for those who wants to have a successful business. Actually planning before doing something is necessary because if you don't have any idea that how you will manage it and what will be your fortune by doing such business then it's not an easy thing to get the desired result. Putting money is not easy in some business without planning and knowledge because there is a greater risk associated with it.




While talking about the teams so I think that if a person is doing an online business then there is no need of having an employ or helper but in the case of investment you have to gather information related to coin but it also don't have any need of employ so you can easily get the idea from YouTube and groups.

That is a very difficult balance to get it and for what I can see many people fail on that step, they are so concentrated on getting to live the life they want that they dedicate a great deal of their efforts to increase the amount of money they earn disregarding everything else, like their family or even their health, then one day they open their eyes and realize decades have passed already and while they got more money to spend they failed at living the life they want for themselves and their families.

Yes, I agree with you, starting a business doesn't have to start with forming a team because that will incur costs that will be incurred, especially if we can do the business ourselves, unless it's a big business that requires a team to do it. But if our business becomes big and we can't do it alone then we have to form a team.
Maybe I'll add one more thing in starting a business, namely determination and intention. Because if our intentions and determination are only half and half (doubtful) it will make our business not go well. After we take a step then never pull our feet and come back.

One of the  most important factors which determine the success of a business or not at the early stages is the appropriate use of the limited capital you have at the moment, and hiring a team at such an early stage is a mistake, you need to make do with your abilities and learn whatever you do not know, only once the business has become incredibly successful and its size has increased several times then you can consider the use of a team to help you out on your daily activities.

I like your ideas on developing a business, but I want to say this. Business has a pattern that must be binding and you work with a team or individual is an endeavor, but you have to understand the business and different places have different strategies that must be applied. All the data that you enter is something that is really needed in running a business and we should also consider what business is suitable for development.

For example you are trying to build a business on internet devices and if in the area where you live the internet is still quite difficult to access, then the business you are running will take a long time to develop because the infrastructure is not fully supported. It is this precision that must be paid much greater attention so that your business does not stagnate in place.

Might I just add here, Discipline.

You can have all of those things you listed down and more, but the ones who really prevail as entrepreneurs are those who have the discipline and drive to keep going and not mess their whole system up. I saw business owners shoot themselves in the foot with wacky business ideas and unsustainable business practices. I saw businesses with no right to prevail and had still succeeded because of discipline and perseverance alone. There are so many people in the entrepreneurship field, create an edge by being the last man standing

the perseverance attitude is indeed needed to move forward given any unforeseen circumstances. a can-do attitude is very important for the business to survive despite of the bottlenecks. without it, even with sufficient funding, the owner can give up if he is not up to the challenges.
to grow a business is no easy task. only few people can carry such mission.
many have the will to set-up a business, but only few of them can follow thru such desire.

These are all important but the one that has major effect on the success in business is finding a business that we have strong knowledge and comfortable performing with. It is also great if we start a business that we have a strong passion so that we can't get tired of it.  Most businesses failed despite of all the needed factors in hand is because of lack of passion.  They get easily tired and give up when things got tough.  We also need to know the right equipment in order for us to minimize cost of production and or service maintenance.

Also, it is important to know when to ask for help.  Creating a business is one tough project.  As a starter, we might not have enough knowledge so asking for advice is an essential part of establishing a business. 

You can read more advice here: https://startups.co.uk/strategy/7-important-factors-to-consider-before-starting-a-business/

I have known some people who never had a great idea to begin with but still ended up being successful because they put in the effort and the hard work. You don't have to have a solid idea, if you think it will work, just do it. There might be some other people around there that already thought of the same and are just waiting for the capital to start. If it's something that fills a very specific niche, you can charge a premium for your services or items. The most important part is knowing that your business may crumble at a moment's notice, but you have the tools to prevent it from doing so.

To find information on managing a business, of course there are lots of articles to YouTube videos, but starting a business is a difficult thing to do, I was like that at first, confused about choosing a business that had good potential and the least risk, at first I opened a restaurant but failed and now it has been running the children's clothing production business for almost a year and already has 4 employees.

These are surely essential things to manage before starting business. And I'd like to add that strategies to hold up with rivals are so essential that this should be an extra point. Most business models become ruined not because of poor business plan but because of rivals, since every business is a structure which should be competitive enough to hold up the position,  and every business idea has rivals, but some rivals seem to not exist until business is actually run (hidden at the initial point). One of the main problems with rivals is that all the employees are potential agents of rivals, so hiring is the thing that should be done properly too, hired personnel should not be in excessive use.

Even if you're rich but if you don't have any idea how to handle a specific task, then probably you will need an employee or a team. Because a single mind doesn't know what could be wrong and right without consideration of the others such as second opinion. And I agree that if you're gonna hire you'll be need a good observation because a worse person that may included in your team, could cost to your business to fall, you know what I mean. You can't just simply hire a person because he's nice, you'll need to have a standard qualification for a specific role in the business that could help it to run smoothly.

Another essential is location , many businesses has been closed  down not because there was no sufficient funding or strategy but due wrong positioning of the business in an area where such business services or products ain't needed.  Another thing, positioning for those that are into affiliate marketing can be likened to be wrong lead, a situation where you're advertising a tennis sport ads to football lovers/fans, you don't expect them to gain interest in your ads not to talk of patronizing.
Just my own little contribution. ;D

Business is essential to earn more from your work.When you work for others,the profit will goes to the owner of the company.Incase you run a business with some investment,it’s enough to make money 4 times of your salary.Secondly you don’t have any target to compete before the date.So you can do work freely with out any deadlines.The important factor of the business is investment,you need some capital as investments to start a business.Before starting such business,you need to learn that business by practical experience.Their will some negative for each business,you should find that negative before starting the business to avoid of big loss.

Agreed, these should get you to the finish line but I feel we have so much cost going into the business even before we are fully operational which shouldn't be the case! We are a profit making business and not some nonprofit organization and costs should be minimized at all costs!

Another point I would add when creating a team, sometimes let us minimize on getting family on board as they might not put 100% into the business or will misuse resources knowing very well that you have a soft spot for them and they will easily ask for forgiveness when they screw up.

Things such as a strong online presence/ support network happen with time as a bond is created with customers who in turn engage with other alternative platforms the business uses such as Instagram, Facebook, Twitter etc ... the most crucial part is usually getting set up!

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I wonder how many of us would have gone into the crypto business as this niche is difficult to read as data isn't readily available to prepare for it...sometimes its about taking the risk.

A clear marketing strategy leads you to a strong online presence. There are a lot of businesses with little or no online presence, this is absurd. We see big corporations like Google and Samsung still involved in aggressive marketing strategies so why will anybody think it's okay for his/her business to go on without good marketing, especially digital marketing?
All around us, I mean in everything we look at we will see either a company marketing its company or/and its product.
Marketing is very essential to a business. Have a clear and realistic marketing strategy and also how to track the marketing you're doing in other to know what works and what doesn't

And the most important thing of all on the list is ... just do it! Idea and those planning and everything are cheap .. the most expensive one is the one who realize it , once you have the blue print of whatvyou gonna do then start it immediately , so you will know the real problem when you have made a proggress.

Either it's marketing problem or the product itself , continuously make a correction and evaluation until it's setting rightly into a huge improvement.

Alright before start a business you have a clear business idea and its goal to crucial as it sets the direction and purpose for your business. Its is important to conduct thorough market research and understand your target audience, Know Your competition and how your business solves a problem to the Users. All the above Op mentioned valid point because before starting a business include a clear business idea, a comprehensive business plan and sufficient funding, legal compliance, Your network is your networth a marketing strategy, you know marketing is every things that why a strong online presence in all social media platforms is very necessary and a capable team. Last Careful planning and preparation in these areas are very important to increase your chances of success for a new business.

I have started my fair share of business' so far, not really big companies, but startup ideas, games, projects, and many other stuff, sometimes as simple as selling newspapers with a markup at places that didn't had it, sometimes more complicated like a steam alternative, and most of the time I ended up failing for one simple reason; I didn't had the discipline to keep it going even when it wasn't earning. If I see a good result then I continue doing so, but if I stop seeing a good income, then I do not want to spend time on something that is not making me profit right away. It is obvious that most business' start making money a bit down the road and not on day 1, I need to learn how to be patient as much as I can, so that I can be better on the next one.

The most difficult step in business is starting a business, many people are confused and where to start, in my opinion the thing we have to understand is that all businesses certainly have tough competition, there is no new business so we just follow the business patterns that have already happened, and the first thing is of course determining the capital, with sufficient capital the business can run according to plan.

When you open a restaurant business you must know where you put in the right place. I know that because I ever open a food business in a little scale. Yes, I just sell egg rolls which do not have much capital I must have, I just made it ready at the beginner school canteen where many children study which only have a little money in their pocket. My business is growing fast but collapsed after covid 19 when many children were schooled at home.

The above listed points are absolutely correct.
To run a successful business, there is need for a market survey to find out what goods and services that is lacking in a particular area. By finding what is needed you now have an idea of what to venture into, set your plan and source for fund and start the business.
Many people fail in business because they don't plan their ideas. They will come up with an idea but they fail to plan, fail to strategize how best and how to manage the risk involved. For instance, in the case of fire out break, there will be no insurance cover and all the invested capital will be gone.

n my opinion, that is the most important thing, to start. We need to dare and try it, those who wait for perfect conditions will never try anything. Even failing shouldn't be a big deal, those who try will learn something and will gain an experience that will be essential for the future and all other tries.

Many started with almost nothing, they had some knowledge and a big will to learn more, and growth came naturally along the way. So people need to have faith in what they do and dare to take some risks, I would say those two are essential for starting and eventually succeeding.

It is very important that we take serious every business economy protocols in place before starting anything, we must plan ahead and strategize everything to work perfectly for our good, we need a busi orientation in other to get started, we also need a financial support to help sustain the business we do, so we must study the nature of the business, target audience, market strategies and many other essential considerations to put forward before a business stands firm.

Why is it difficult to start a business? Isn't it that everyone who wants to be successful must be able to start well and every step must be considered wisely first. It's difficult to start, I think it's just about the enthusiasm and motivation of someone who wants to start. Because there is no way to be successful if someone is difficult to start, and besides, for now, every business has its own competition, so everyone should be able to consider this before starting.

Because when someone has started it but it's still difficult to compete, of course the business won't develop properly and it's a matter of having capital at first, I think that's the way it should be in doing business so that doesn't need to be disclosed because those who don't have capital are clear can not start to open any business.

it's all about the mindset and also the desire to start a business, actually starting a business is difficult if you don't have the knowledge, relationships and money capital but if someone is confidently looking for the main capital for a business then of course he will be optimistic to start it.
knowledge is very important to start any business and before starting a business, of course, you shouldn't be careless and random, everything must have the right calculations.
and even though the business fails, knowledge from experience is the most expensive knowledge to get, therefore nothing is in vain to start a business.

Each of the points listed in above are all important, and I think that with their help, anyone can succeed in business.It is difficult to be a successful businessman, but with the right guidance, knowledge, and careful planning, it may be possible.many people failed in their businesses nowadays because many of them didn't have appropriate plans before it established, that why it is always hard to manage in the process.I can use my own experience as an example. I started a little poultry business where I was raising chickens, but the business was unsuccessful since my plans was not good enough.

All the point listed is right for any new person starting a business. But I will say that not all business necessarily starts with a team, many people today starts their business alone later on when the business is big they employ more people to help.

I Think i like this point, where a well-crafted business plan is an essential tool for any entrepreneur. It provides a roadmap to help us navigate the complexities of starting or growing a business. A comprehensive business plan should include a market analysis that identifies the target market, competitors and potential barriers.

Financial projections are also important because they help us understand the cost and revenue stream of our business and our marketing strategy is another important component, because it outlines how we plan to promote and sell our products or services to more likely attract investors, secure financing and increase opportunities.

Beginner business people often make an analysis before starting a business that they will run, because things such as the target market, competitors, and potential obstacles are important things that must be looked at first so that progress can be made through the business. Because a business that survives and becomes big is a business that is able to compete more wisely with competitors who carry a concept almost similar to what we use.

Apart from what you mentioned, I think collaboration with other businessmen engaged in different fields is also very much needed because when it can also help businesses develop better and not harm each other. Even though every businessman has to promote their products individually with their own concept, this can also help business owners expand their network to various regions.

The list is really good. There is one more point, it is supposed to be a part of several points of the list, but Id make it a separate point: the toughest problem of all business initiatives, which brings instability is rivalry. Ability to compete with rivals means not only being able to compete with business projects of the same field, it also means the ability to discover and surpass hidden threats, many of which originate not from direct rivals, but from other business branches, whose income can be affected by new project development.

This can be included in marketing strategy.  Marketing strategy is a product of research.  That includes information on the rival company, market trends, demands, pricing etc.  I think this fall under the research and development division and any result is implemented by the marketing department.  I agree that this kind of information is very essential for a business' success and if I am not mistaken, this is one of the pillars that drive the company to successfully beat the competition.

For me, once you have knowledge and background experience on the business that you plan to enter, most likely that you will succeed on it. Of course, with sufficient funds so that everything that is on the plan will be easily put into action. I guess if you have them, everything good will follow including for the best site for your business and what kind of business that will be in demand for the people living near to it.

Everything in business is uncertain that’s why we should make a thorough preparation before it will be put into action. And there are time that even if your business prosper at first, that does not mean that it will stay that way forever. At least you should always be competitive by getting updated with the latest promotions so that you can always be on top of other businesses. And when everything you put into it does not come successful, then shift to plan b. That’s the reason why there’s always reservation for plans in case the first one does not work out.

in short, you should always have contingency plans if worst situation comes. there's no forever on this planet, but you can always change to adapt for the betterment of your business. you can also diversify your portfolio, so when the time comes and your business is not earning anymore, you have other facet to fall back into.

I always taught that in making a good business, one should make good business plan first, because if you don't, there's significantly higher potential that you are gonna be wasting your business.
you should make certain planning in regard of man power in running your business and there are operational costs need to be think of, this is most certainly not just for random people, business take good efforts in getting it to succeed, even then only very few of them could actually gain success, if you truly want a to start a business you should know before hand that the chance of bankruptcy is higher than success, it's like 1 out of 1000 business just gonna go bankrupt, what you see on the surface, all those good business making trillions every year, only very small fraction of business ever existed.

The basics should be covered first, so you won't regret later on that you skip those parts.
So yes, a potential good business should have a good business plan in the first place.
You can't just start without any planning at all. If you do that, it means you will be bound to failure.
Remember, that's your money on the line. So better secure it by meticulously assessing the components of the business that you want to create.
Also, you should not rely from someone about the vital aspects of the business. You will be running blind if you have little to no idea of what's going on with your business.

these points are very necessary, very necessary..

Don't get me wrong, all points are very essential but these few seems to have been neglected by business owners over the years...

The online presence had grown so well to have become a good platform for business owners but persons still find it difficult to adapt to this change and I wonder why...

I agree but I think when it comes to starting another business, even though you have all the knowledge and experience, there is still no guarantee that you will succeed. But it is indeed that you have a greater chance of making the business work and as an experienced person on business you can plan out easily all the things that could happen in your business. No business has a smooth path in terms of running it since there will always be some problems that may occur, but we should learn to adapt and be solution oriented so that we can make every problem be solved and make sure that we learn something from it.

Know your business and its best location so that you can expect for its success and prosperity. Because even if you have the best attitude and faith towards your business, and highly sufficient funds, that will not work as long as you don’t know your business and how it will be profitable in the long run. Also, with high competition in the market, it’s very important to keep your business on top from others by always meeting the demands of the consumers.

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