Some things to consider before starting a business

[Silberman]

The most important thing that one to consider when putting up business is capital. Well some would say that even if there is low capital if one who do the business is well discipline it will be able to grow the business and yes they are right but in my way if i have to put up a business i should need a huge capital to work things out completely doing business.

In my opinion, capital does not have a big impact on starting a business, but an opportunity because without a business opportunity it will not run smoothly. The profits earned will be hampered. Whatever the initial capital to do business without opportunities is the same, meaningless.

I agree, many seem to think you need a huge amount of money so you can start a business but what you really need is to have a great idea, many of the biggest business that you see started in the garage of someone with an idea and a desire to create something new and out of it they created a business that made them millions, so instead of concentrating on how much money you need it is better to concentrate on how you can improve something.

[Captain Sneeze]

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

picture source :https://wealthygorilla.com/23-wise-warren-buffett-quotes-on-success/

There are so many things to consider on starting a business in order to be succesful. Like for example , the environment that you are living. If the place where you want to make a business is near the school then you need to make a business for students so you can make huge profit. Make sure that it matches the environment. Its not easy to make a business , there are some things you need to know. You also need to study how it works , and how you control your money. Take risk and work hard.

[Santoshi_my_God_]

Thats true there are tons of things that you need to consider before opening you business, it is difficult thing.
As for me the most difficult part is not planing or money. The biggest problem is taxes and to make your business legal, thats the thing, where you always will have problems.

Many things must be considered before starting a business, the most important is the business that wants to run whether in accordance with the ability or not, meaning that besides the product, marketing certainly involves capital. Is capital of cash or capital credit. Everything must be calculated so as not to stop halfway.

For these all and for going to complete all the challenges in starting a businesses it is important that the starter must have skills and the required money if he will have these both then he will know that what to do at what stage and he will know that to whom he have to hire and he will be able to pay them for giving success to that business.

[Japinat]

Thats true there are tons of things that you need to consider before opening you business, it is difficult thing.
As for me the most difficult part is not planing or money. The biggest problem is taxes and to make your business legal, thats the thing, where you always will have problems.

Many things must be considered before starting a business, the most important is the business that wants to run whether in accordance with the ability or not, meaning that besides the product, marketing certainly involves capital. Is capital of cash or capital credit. Everything must be calculated so as not to stop halfway.

For these all and for going to complete all the challenges in starting a businesses it is important that the starter must have skills and the required money if he will have these both then he will know that what to do at what stage and he will know that to whom he have to hire and he will be able to pay them for giving success to that business.

We have to choose our business where we can utilize our skills and can consider it as our passion.
Business will succeed more if we have the skills and we love what we are doing.
Me, I'm just a simple guy who are willing to take risk, I believe my skills is in crypto and though it's not traditional type of business, I'm still here to risk my money.

[awik p]

Thats true there are tons of things that you need to consider before opening you business, it is difficult thing.
As for me the most difficult part is not planing or money. The biggest problem is taxes and to make your business legal, thats the thing, where you always will have problems.

Many things must be considered before starting a business, the most important is the business that wants to run whether in accordance with the ability or not, meaning that besides the product, marketing certainly involves capital. Is capital of cash or capital credit. Everything must be calculated so as not to stop halfway.

For these all and for going to complete all the challenges in starting a businesses it is important that the starter must have skills and the required money if he will have these both then he will know that what to do at what stage and he will know that to whom he have to hire and he will be able to pay them for giving success to that business.

We have to choose our business where we can utilize our skills and can consider it as our passion.
Business will succeed more if we have the skills and we love what we are doing.
Me, I'm just a simple guy who are willing to take risk, I believe my skills is in crypto and though it's not traditional type of business, I'm still here to risk my money.

right, the most comfortable business is based on our pleasure, so we can do the business happily. although there are many obstacles, of course it will be faced with pleasure too. and in the end we can get maximum results. what is certain is not to do business just because of following other people. it will harm us

[devinks]

Thats true there are tons of things that you need to consider before opening you business, it is difficult thing.
As for me the most difficult part is not planing or money. The biggest problem is taxes and to make your business legal, thats the thing, where you always will have problems.

Many things must be considered before starting a business, the most important is the business that wants to run whether in accordance with the ability or not, meaning that besides the product, marketing certainly involves capital. Is capital of cash or capital credit. Everything must be calculated so as not to stop halfway.

For these all and for going to complete all the challenges in starting a businesses it is important that the starter must have skills and the required money if he will have these both then he will know that what to do at what stage and he will know that to whom he have to hire and he will be able to pay them for giving success to that business.

of course the skills and experience that are most needed if you want to start a business, if it is about money, it might be easy because we have a small amount of money, we can start a small business by utilizing makeshift materials and tools, then growing and developing. no one who starts his business can immediately succeed and surely all of them need stages and processes.

[Vanshenz]

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

picture source :https://wealthygorilla.com/23-wise-warren-buffett-quotes-on-success/

some of these suggestions are very complete and useful. building a business is certainly not easy, the most difficult is starting a business, especially if our desire to do business is not strong. many businesses fail because of inaccurate plans and estimates, so don't rush into opening a business, everything must be well thought out.

[coinluisa]

Well theres so many things will be consider to start a business because if your not prepared in many things it may cause of unsuccessful business. Like in crypto before they do a project and do everything that needs in the project because they want the project will be successful.

[malading]

I think this is very useful for investing in ICO. Usually the launch of ICO project is also the beginning of entrepreneurship. You can judge the quality of ICO through these experiences. But I am not suggesting to invest in ICO.

[erickbarkley29]

this is great! i was supposed to do a research as there will be a new company that my friend wants to put up.. your information is a good guide to start with. thanks!

[horrifiedx1]

I think this is very useful for investing in ICO. Usually the launch of ICO project is also the beginning of entrepreneurship. You can judge the quality of ICO through these experiences. But I am not suggesting to invest in ICO.

for now, investing in ico is still very risky, this is indeed because of the decline in the price of bitcoin. but I think there are still many qualified ico, for that we must be good at analyzing so that we don't get caught up in the scam ico. therefore we have to learn a lot to become experienced ivestor ico

[ecnalubma]

Even if you follow the business fundamentals correctly there’s no guarantee that you can hit the jackpot in return. Doing a successful business requires planning and effective execution. If you love what your doing and your passionate about it, it will reward you in return. Just like getting involved crypto if you know what your doing and know your investing there’s a higher chance that you will succeed in return.

[resty]

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

picture source :https://wealthygorilla.com/23-wise-warren-buffett-quotes-on-success/

I somehow agree to your ideas above but i can share another technique that I learned from a multi millionnaire Dan Lok. He is known to have a triangle rule or anything, i forgot the exact name. It is stated there that first you should develop your high income skills, second make your investment and third build your business. This is more strategic since you have the foundation in case your business fails. You can build it up again since you have the high income skills.

[CoinChili]

Very useful information for a person who wish to build a business. We can consider also yhe feasibility study, the place where the consumers are living, the competition and the demand of business in which it relies what business should we plan to start.

[bison]

Well theres so many things will be consider to start a business because if your not prepared in many things it may cause of unsuccessful business. Like in crypto before they do a project and do everything that needs in the project because they want the project will be successful.

I think from the many cryptocurrencies that are created then you must be able to find coin projects that are truly beneficial and can have potential price increases, not to buy coins that don't have good development.

[iMark]

The most important thing that one to consider when putting up business is capital. Well some would say that even if there is low capital if one who do the business is well discipline it will be able to grow the business and yes they are right but in my way if i have to put up a business i should need a huge capital to work things out completely doing business.

In my opinion, capital does not have a big impact on starting a business, but an opportunity because without a business opportunity it will not run smoothly. The profits earned will be hampered. Whatever the initial capital to do business without opportunities is the same, meaningless.

I agree, many seem to think you need a huge amount of money so you can start a business but what you really need is to have a great idea, many of the biggest business that you see started in the garage of someone with an idea and a desire to create something new and out of it they created a business that made them millions, so instead of concentrating on how much money you need it is better to concentrate on how you can improve something.

I think strong capital does not mean large capital, in my opinion capital is also needed to start a business, without your capital,
then your ideas is only a thought and is useless, make a plan and collect capital, then start it!

[Thanasis]

Even if you follow the business fundamentals correctly there’s no guarantee that you can hit the jackpot in return. Doing a successful business requires planning and effective execution. If you love what your doing and your passionate about it, it will reward you in return. Just like getting involved crypto if you know what your doing and know your investing there’s a higher chance that you will succeed in return.

Business is completely different from investments,in business you need to put your effort mentally and physically to get succeed but on investments you need capital and skills to find the product which is going to make you successful.

[Tungsten-1]

Very useful information for a person who wish to build a business. We can consider also yhe feasibility study, the place where the consumers are living, the competition and the demand of business in which it relies what business should we plan to start.

Today it is very competitive time where so many technologies are to support us we can use them to get financial freedom in any kind of business, but some are scammers as you have given solution for it is essential studies, try to increase your knowledge about what we are planning to start and never jump in river without knowing how to swim, investing in ICO and crypto is best option ever, try to choose the promising one.

[gowobonyok]

the first is don't be easily scared and don't give up easily.

the second, not easy to be satisfied, because it can cause us to take small profits just to buy goods that are not important. it would be better if the investment is increased again.

marketing, this is very important as our strategy in seeing many situations.

[rika0223]

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.

before starting any business, any investment and must indeed understand all the risks that will be obtained by knowing all the risks investors can start safely and not experience a very large loss of course