Some things to consider before starting a business

[KenChanYu]

First and foremost is the ability from yourself if you are able to build a business, if you have enough capital to start or you are just pushing and trying hard to start even though you are lacking of capital. It is best for you to measure things before you start a business because starting a business is not an easy thing and you should be prepared, well prepared before you start.

I think it needs preparation and knowledge before starting a business. We need to have a capital, to formulate a plan, and possess quality traits. Business career covers a wide range of industries, finance, marketing, entrepreneurship, and management. To be successful in business, one must learn to have outstanding leadership skills, unafraid to take risks, has competitive spirit, most importantly has personal and professional integrity.

[1714926827]

1714926827

[1714926827]

1714926827

[1714926827]

1714926827

[1714926827]

1714926827

[BitcoinMarketer39]

Thank you! I've been reading a lot of articles about how to start a business because I really want to start one.
I have a stable job but I want to have my own business as well.
This is very informative.

In my own opinion, what's matter on starting on a business is the product that you are going to create and what times of consumers are you going to deal with and if you think that this kinds of problems will can be compensated through your services then your business will be successful.

[KingdomHearts]

-snip

You’ve got some really great tips here and is good to see that you have taken time to do this great job you did. Another thing we should always put in mind Teamwork. I don’t think you will be able to get far without teamwork. So having a cooperative team that works really hard to succeed is one good thing and will take you really far and make you really successful ☺️🙂

Business is not like food to eat because it is already prepared it should be in the process in every time because business is like war at first that needs to cultivate in order to make it on success. Failing to plan is planning to fail.

It’s like a war indeed. Business is not easy. You’re not the only one that is doing that particular kind of business, there are lots of people who are also in that same arena, competing with you with the target of being better and more successful than you are, and they are also ready to do anything it takes to achieve their plans. That’s why it’s good to take every right step and do every possible thing it takes to succeed.

[ekalak manjeng]

in my opinion, things I can conclude from articles before starting a business to consider are capital intake, labor preparation, raw material procurement, technical issues in doing business, optimizing business marketing, business profits, business risks, business competition, paying attention to management business, facilities, and environment. maybe that's what needs to be planned before starting a business.

[pernah ada]

before we start a business in my opinion that needs to be considered is the aspect of the work we run for business and how much capital we have to start a business. I think that alone is enough.

[valentine401]

Thank you! I've been reading a lot of articles about how to start a business because I really want to start one.
I have a stable job but I want to have my own business as well.
This is very informative.

The best thing about starting a business is to know how much money you are going to earn but as soon as your business is started, you really need to know what types of people you are engaging because in this way you will determine how much profit you will be earning.

[Papaczed]

This is actually a good read and very informative especially for those who wants to start a business. Honestly I also wanted to put up a business of my own but I'm trying to read some articles and information about starting a business. You can't just wake up one day and say I'll withdraw money from the bank to start a business today, of course it needs to be premeditated at first.

.       There's so many things to consider  in starting up a business  especially the  knowledge you have for the field of business you are engaging to and you need to read many articles about how to go about the customers and such    You need to know almost all the things that involves your business how did her business will repeat or cycle how will that works

[jaydenbox]

This is actually a good read and very informative especially for those who wants to start a business. Honestly I also wanted to put up a business of my own but I'm trying to read some articles and information about starting a business. You can't just wake up one day and say I'll withdraw money from the bank to start a business today, of course it needs to be premeditated at first.

.       There's so many things to consider  in starting up a business  especially the  knowledge you have for the field of business you are engaging to and you need to read many articles about how to go about the customers and such    You need to know almost all the things that involves your business how did her business will repeat or cycle how will that works

Well I think it is hard not to say impossible to know how much money you will make, because you never know if people are going to actually buy your stuff but yeah.

[Betwrong]

A successful business is one that delivers value to its customers and creates value for its owners.

Value is delivered to your customers when you do something for them
Better
Cheaper
Faster
Cooler
Different
However, it is likely that none of these will work for long, so continuous improvement and innovation are essential.

I agree with this, but only to an extent. There's another thing which must be considered and that's advertising. The thing is that if something considered "cooler" by one group of people doesn't mean that everyone will consider it cooler too. The tastes of people are different and that's why with proper advertising you can sell things most people dislike, consider uncool or too expensive. On the other hand, it's almost impossible to sell a thing, even if it is potentially good for most people, without advertising it at all.

[Jose Rizal]

Thank you! I've been reading a lot of articles about how to start a business because I really want to start one.
I have a stable job but I want to have my own business as well.
This is very informative.

Well I guess the forst thing to consider is, does your money enough for you to start up a business? Important thing to consider since you are starting up, and we want to prevent sudden bankruptcy if ever, so start a business which is enough to your current money that you have with you, loaning is great but if you cannot afford to pay it,  it's very impossible for the bank to approved your loan. I think this is one but the most impe thing to consider.

[cyberkuto]

Well I just want to share some information regarding on how to start a business because as we can see, we are all want to have a stable business and we want to be a very good entrepreneur someday because if we're just working and working to earn money then if we can't work anymore we won't be able to sustain our needs anymore. I think this is worth reading especially those who are planning to build an ICO or a project. I've got this from my professor on college :

NOTE-REFERENCES :  Webster’s College Dictionary (Random House/McGraw Hill)
What is an Entrepreneur?
Entrepreneur: A person who organizes and manages an enterprise, especially a business, usually with considerable initiative and risk.
Initiative: Readiness and ability in initiating action.
Risk: The hazard or chance of loss.

NOTE-REFERENCES : The Portable MBA in Entrepreneurship, 2nd Ed.; William D. Bygrave, Editor. John Wiley and Sons Publishers, 1997.
What Does it Take to Be Successful?

• “In entrepreneurship, luck is where preparation and opportunity meet.”

• “The idea is not what is important. In entrepreneurship; ideas are a dime a dozen. Developing the idea, implementing it, and building a successful business are the important things.”

• “Would-be entrepreneurs who are unable to name customers are not ready to start a business. They have only found an idea and have not yet identified a market need.”

• Somehow, someday… you are going to have to earn POSITIVE CASH FLOW. You need more than a revenue model (but you do need that). You need a VALUE model.
  

• Market share is great, but you can’t pay bills with it.
  

• You can do some financially stupid things to build market share.
  

Where Do You Start?
Think about WHO is going to want your product/service, what they will PAY for it, what you will NEED to carry it off, and how you will MAKE MONEY someday. That is, make a PLAN.

Success depends on
positive cash flow, growth,
 and value creation.

   Owners and investors who forget that tend to get “naturally deselected.”

The Importance of Value Creation

• A successful business is one that delivers value to its customers and creates value for its owners.

Value is delivered to your customers when you do something for them
Better
Cheaper
Faster
Cooler
Different
However, it is likely that none of these will work for long, so continuous improvement and innovation are essential.

Value is created for the owners when:
-You do more with their money than they could do with it themselves
-You invest in productive activities that earn rates of return greater than their risk-adjusted costs of capital.
-The present value of future cash flows exceeds the startup costs.

Value is created by:
-Exploiting proprietary physical resources
-Possessing proprietary knowledge or expertise
-Creating a new or improved product, process, or service
-Staying ahead of the competition through constant improvement and innovation
   
Planning for Success

-Don’t plan a business for today – Plan it for at least a year from now.
-Moore’s Law: Computing power will roughly double every 18 months.
-Bandwidth will continue to increase for most users almost ad infinitum.
-People will live longer and maintain active lifestyles far after retirement.
-Energy sources and consumption patterns will change drastically.
-The world will continue to be a very dangerous place.

How To Not Get Funded


-Have a half-baked idea
-Have a meatless business plan
-Can’t articulate your value proposition
-Can’t identify your market potential
-Can’t justify your sales projections
-Can’t show your investors an exit
-Can’t show your investors a reasonable expectation of a reasonable return on investment
-Don’t think about risk
-Take no risk yourself
-Don’t take time to do your homework
-Try to fund a “lifestyle” venture

Funding Your Venture

-The hardest funding to raise is the first funding. You are probably on your own.
-Later funding gets progressively easier depending on the results you can show to investors and what you need to fund.
-BANKS are probably not going to help.
-The best funding is INTERNAL funding (reinvested earnings).
-PRIVATE EQUITY is the current buzzword for the major capital source for business ventures.
Closing thoughts
https://i.imgur.com/GI4Ui2E.png
picture source :https://wealthygorilla.com/23-wise-warren-buffett-quotes-on-success/

That's true and indeed. I'm thinking what business should I choose. But one thing to remember when starting a business.,  Location is totally matters and also managing.  Funds needs to be ready and always add to what expected. Always open for opportunities and feedback.  That will do. 

[handsomes]

Thank you for the beautiful article because of the background before i exciting to start a business but i take a risk because first will have experience the risk and may possible lost your business but this is learned about your self so i follow this rule.

[handyhuman]

Before starting a business the first thing to consider is what line of business you're going to take. Your business should offer the daily needs of people. With this idea, its a sure thing that you won't loss on your business.

First thing to think before opening a business is to think what are the best thing to sell in order to have a long term business and make it wider.  Should have the idea of what people actually needs daily.  

[VentureHero]

A lot of valuable points about the general mindset of a soon-to-be entrepreneur. When I find some spare time, I'll try to draft a list of some additional practical tips.

[ilhamdoni]

wawawawa.This is actually a good read and very informative especially for those who wants to start a business. Honestly I also wanted to put up a business of my own but I'm trying to read some articles and information about starting a business. thank you

[Pakwan12]

The things that you need to considers before you start a business are,you have enough capital for your business, then the place  where you can put, and the cheaper and different  business in your place.

[Falmera]

Before starting a business the first thing to consider is what line of business you're going to take. Your business should offer the daily needs of people. With this idea, its a sure thing that you won't loss on your business.

I agree with this. Yes, I think that too. There is q big possibility of gaining and not losing if your business is in demand by all people. Like for instance the prime commodities, clothing and others.

[mokamoka]

first, you need to come up with an unique idea
second, you must have extra money or raise sufficient fund
third, you can insist on such a hard and long-lasting process, and never give up.

[Daday23]

Well I just want to share some information regarding on how to start a business because as we can see, we are all want to have a stable business and we want to be a very good entrepreneur someday because if we're just working and working to earn money then if we can't work anymore we won't be able to sustain our needs anymore. I think this is worth reading especially those who are planning to build an ICO or a project. I've got this from my professor on college :

NOTE-REFERENCES :  Webster’s College Dictionary (Random House/McGraw Hill)
What is an Entrepreneur?
Entrepreneur: A person who organizes and manages an enterprise, especially a business, usually with considerable initiative and risk.
Initiative: Readiness and ability in initiating action.
Risk: The hazard or chance of loss.

NOTE-REFERENCES : The Portable MBA in Entrepreneurship, 2nd Ed.; William D. Bygrave, Editor. John Wiley and Sons Publishers, 1997.
What Does it Take to Be Successful?

• “In entrepreneurship, luck is where preparation and opportunity meet.”

• “The idea is not what is important. In entrepreneurship; ideas are a dime a dozen. Developing the idea, implementing it, and building a successful business are the important things.”

• “Would-be entrepreneurs who are unable to name customers are not ready to start a business. They have only found an idea and have not yet identified a market need.”

• Somehow, someday… you are going to have to earn POSITIVE CASH FLOW. You need more than a revenue model (but you do need that). You need a VALUE model.
  

• Market share is great, but you can’t pay bills with it.
  

• You can do some financially stupid things to build market share.
  

Where Do You Start?
Think about WHO is going to want your product/service, what they will PAY for it, what you will NEED to carry it off, and how you will MAKE MONEY someday. That is, make a PLAN.

Success depends on
positive cash flow, growth,
 and value creation.

   Owners and investors who forget that tend to get “naturally deselected.”

The Importance of Value Creation

• A successful business is one that delivers value to its customers and creates value for its owners.

Value is delivered to your customers when you do something for them
Better
Cheaper
Faster
Cooler
Different
However, it is likely that none of these will work for long, so continuous improvement and innovation are essential.

Value is created for the owners when:
-You do more with their money than they could do with it themselves
-You invest in productive activities that earn rates of return greater than their risk-adjusted costs of capital.
-The present value of future cash flows exceeds the startup costs.

Value is created by:
-Exploiting proprietary physical resources
-Possessing proprietary knowledge or expertise
-Creating a new or improved product, process, or service
-Staying ahead of the competition through constant improvement and innovation
   
Planning for Success

-Don’t plan a business for today – Plan it for at least a year from now.
-Moore’s Law: Computing power will roughly double every 18 months.
-Bandwidth will continue to increase for most users almost ad infinitum.
-People will live longer and maintain active lifestyles far after retirement.
-Energy sources and consumption patterns will change drastically.
-The world will continue to be a very dangerous place.

How To Not Get Funded


-Have a half-baked idea
-Have a meatless business plan
-Can’t articulate your value proposition
-Can’t identify your market potential
-Can’t justify your sales projections
-Can’t show your investors an exit
-Can’t show your investors a reasonable expectation of a reasonable return on investment
-Don’t think about risk
-Take no risk yourself
-Don’t take time to do your homework
-Try to fund a “lifestyle” venture

Funding Your Venture

-The hardest funding to raise is the first funding. You are probably on your own.
-Later funding gets progressively easier depending on the results you can show to investors and what you need to fund.
-BANKS are probably not going to help.
-The best funding is INTERNAL funding (reinvested earnings).
-PRIVATE EQUITY is the current buzzword for the major capital source for business ventures.
Closing thoughts
https://i.imgur.com/GI4Ui2E.png
picture source :https://wealthygorilla.com/23-wise-warren-buffett-quotes-on-success/

It really help me before i start i business because i have a plan to have a food business.Thankyou for this link.

[Elexsis]

In my own opinion, before you start a business, you need a capital. You must calculate the capital base on the business that you're going to start. And you need to set plans and think about its future, how will it end up or how will it be successful, because setting or thinking things before you start gives you a better foresight on what will happen in your business in the future. And also you need to think what business to start, it should be unique from things that exist right now, so it will be attractive to people, the more it attracts, the bigger the demand.

i think capital is not the first diurutan in starting a business. but indeed the capital can support the success of the business run. i think the inner knowledge of a project and strategy is the main part

Both capital and strategy is the main part to support for the success if you want to build a business which it has an idea and concept that is innovative, creativity and capable to our community and industry.