Some things to consider before starting a business

[Tahir Khan]

1. to know your target customers, the demographics of a certain location can help you pick what type of business is really needed
2. your location must be surrounded with a lot of people
3. budget- i think it'll be better to start with a small capital then if its a success you can gradually make your business bigger (low risk)
4. you must have a unique concept-- a selling point

and although its not necessary, open a business where there are fewer rivals

To start new business you must have working capital because its easy to plant new machinery but then you will in great need of working capital

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[Anfisman]

I think there are some things that should be consider before starting a business.
1. Determine what type of business entity we want to create.
2. Determine who our target in the market.
3. Determine the name of the company that attracts people.
4. Create a mature business plan. From small things to big things.
5. Must have the funds, if not, determine the source of our funds, to whom we will do the cooperation.
6. Make certificates and legal documents, about the company we make.

[nightxglow]

For me the first thing i must check if there's demand for the product in the location that i planned to open the business. After that don't run it with "i will make lot's of money" in the first month as it will dissapoint you and make you frustated. The start is always hard but if you manage to overcome it then your business will slowly start to grow.

[trecore4]

It's not that easy as to read the four lines of your topic. Business is something bigger and the whole thing takes time and unwanted risks on the path we choose. It has to be well structured and the target must be set before start if the business. If you are alone then calculate the risks which can disturb your personal life savings and if you are partnering then calculate the divided risk involved. Always look for trusted funding options for your business such as bank. The biggest step then comes the establishment of proper name, logo, and man power which will be related to your business itself.


Then comes the marketing scene which can be very difficult in long run. It's better to workout the math and then proceed with all the business stuff.

[trecore4]

There is no paying site in cloud mining world except genesis or hashflare. They are also going down now a days which was anyway supposed to happen because it is not profitable in long run for the cloud miners as well as customers who invest money into it. You will find most of the people getting scammed about the cloud mining contracts because these sites simply do not pay them and sometimes few of the sites will pay in the initial month or so to get the trust of customers and when these customers invest more then these site shut down forever. So be aware of new sites as well because it has gone wild now a days.

[Wyne]

Now we can see a lot of business opportunities that exist around us, be it pure online business or offline business that is go online. However, the number of business opportunities does not necessarily allow us to choose and run the business we want.

There are a few things we need to consider and start preparing the business prepares capital, the second prepares the workforce, the third is the provision of raw materials as well as the techniques in running the business, marketing the business optimally, then profit a business, risk a business, concerning business competition and pay attention to the latest business management is the facility and the fringe

Expertise in the nature of business you want to start must be considered also.  You must love  and enjoy doing whatever the nature of business you want to engage. Consulting trusted people around you regarding your plan in engaging business and listening, understanding, and internalizing their suggestions and advise is advisable. Make an exit plan or try to answer this question "What will I do if the business I started fail or does not work according to my expectation?", in other words, make a back-up plan.  But above all, tell God about it and ask for His guidance.  

[romeitaly]

Before starting a business, you should think that you must be committed on this and you won't just let go of it. Consider first the needed things, your capability, and you must have many plans about your business. Get an advice from an expert on what you want to focus in business and have different partners who can help you and which you can help too. Your budget is also important to consider and your target audiences. Be smart in making decisions especially if you are a beginner.

[Taki]

in my opinion it will all come down to your experience and your team (if it is a team business with employees,...). if you have some prior experience in running a business even a small one, or have studied some courses and have some knowledge in the field, that will help a lot.
starting a business may sound easy at first but in practice you will start encountering lots of issues, small and big. and by that time you can only manage the business and lead it to success if you know how to deal with each situation individually. and that requires experience.

Doubtless experience and team are main factors of the business process. I'm more for the strategy and idea. But the first stage would be creating of a business plan where you can see all costs and future profits. lettered business plan do the third part of the whole thing.

[Michael_Gims]

I think it's important to learn a lot about the market, about the environment. Especially in the cryptocurrencies environment, which is quite complex, with so many coins, assets, and things to handle properly.

[oaz7t]

Starting of business is very good activity but requires lot of efforts.  The things to be considered are which kind of business one has to start.  Its market value., their benefits,  its potential to earning money etc are necessary.  Competition in market is also necessary to consider.  Our budget to invest money and how much returns one can get through that business are the things to be considered.  Workers their salary,  shop rent are the major points which are accountable.

[jhonjhon]

For me the first thing i must check if there's demand for the product in the location that i planned to open the business. After that don't run it with "i will make lot's of money" in the first month as it will dissapoint you and make you frustated. The start is always hard but if you manage to overcome it then your business will slowly start to grow.

I agree with you, demand and location of business could be a huge factors  that affect your business income. If you intercept that, you have a possibility for great output and flow of your business.

[JeffBrad12]

1. must real read about your business

2. ask for effective for long time

3. try to  have smart team

4.dont think to make fast money

maybe i just add a little to start a business :

1. think of good techniques to start a business
2. choose a strategic place to run smoothly
3. Create a vision and mission in the business

For me your products should be what other businesses would need. Dont just attract common costumers. You need to have something that the middle class would need. Nothing is gonna happen if your target consumer are just civilians. People now adays need to at least upgrade the aims of there own businessed because many local businesses woud just profit just for daily expenses and stops there.

as i see, you will get a lot benefits by providing service for many important and vital business, they will be dependent to you and become your permanent customers. targetting direct customers which are consist from individual is just side job for a service to get little additional money, providing service for business is the real opportunity.

[Biggapp]

I think it's important to learn a lot about the market, about the environment. Especially in the cryptocurrencies environment, which is quite complex, with so many coins, assets, and things to handle properly.

before starting something we should collect fine information about that thing as if we are going to invest in bitcoin and you wants to take it as a business then! You will have to search about it on Google and should discuss about it with the people who are using bitcoin. The price of the bitcoin is not predictable so you need to gain information about the present price and after that just go for investment fearlessly

[fullhdpixel]

-snip-

All you have listed are practically what every business by default knows but at the same time, while some succeeds some others fail and stop existing. Either way, one basic thing to have is understand the need you want to fill as a business inclined individual and clearly state your target market because without these every other thing becomes impracticable.

Of the 100% of businesses, only 5% remains successful as the remaining 95% have already given up and chose to just close shop. The key thing is to first know if there's a demand for such a service/product before starting to build one. That's basically what's wrong with those who closed shop: they haven't researched too much on their target market that's why they ended up in a flop. Also, from what I'm seeing on today's markets, one product goes in trend and many shops market the same product without innovation. That will greatly saturate the market ending up in great competition, so the best possible thing to do is to think of something unique before setting up your own shop. Innovation is a big edge in creating a business, as people would be curious in your product and end up trying it and *might* like it.

I will say consider following things while starting your own business:
   First all study and analyze market for feasibility of your business.
   Then start focus on the things that are most important.
   Advertise your business.
   Find new things to compete others in business.
   Make your decisions wisely and patiently.

[Wong Gendheng]

Many things we have to prepare before full total in business mainly is capital and of course business analysis far ahead. besides, test market and know the market condition is very important to do.

[galestorm]

1.You should consider your target market and the product that you are offering.

2The location of the business should also be taken into account

3. The promotion of your product must be catchy which makes people grab their attention.

4. Consider the price of your product.

[Kemarit]

I started a offline business about 2 years ago and most of the post here are the things that I considered before putting it up. I don't have a problem with the demand, because it was really the people around me who have gave me the idea to start my business. So from the very beginning, I don't have any problem with the customers. The only problem I initially went through was capital, the demand is high but since I started from small capital, sometimes my items went out of stock. But since I found bitcoin, it gave me additional cash flow so that issue has been solved in my end. Another issue I've face in the items I'm selling. Sometimes even my supplier went out of stock so I learn m lessons not to rely on only 1 supplier. So business in my end is doing doing, and partly because of bitcoin that really help me stretch out my capital.

[Latviand]

Now we can see a lot of business opportunities that exist around us, be it pure online business or offline business that is go online. However, the number of business opportunities does not necessarily allow us to choose and run the business we want.

There are a few things we need to consider and start preparing the business prepares capital, the second prepares the workforce, the third is the provision of raw materials as well as the techniques in running the business, marketing the business optimally, then profit a business, risk a business, concerning business competition and pay attention to the latest business management is the facility and the fringe

Some things to
Consider before starting a business is being able yo lanage it. Whatever grand scheme you have if you dont have a realistic plan o. How to lanage t the. It would fail. Also it is very important to note that every business should start with a study first if it would bloom or if the market is ripe to start that business there otherwise it is just another expensive idea put into construction and destined to fail.

[Al Amin]

The thing to watch before doing business is to recognize products and markets. we should be able to assess competitors how to market their products. For the next in need of uniqueness or new innovation and the main is mental because we must always think positive and courageous in making decisions.

[pearlmen]

I started a offline business about 2 years ago and most of the post here are the things that I considered before putting it up. I don't have a problem with the demand, because it was really the people around me who have gave me the idea to start my business. So from the very beginning, I don't have any problem with the customers. The only problem I initially went through was capital, the demand is high but since I started from small capital, sometimes my items went out of stock. But since I found bitcoin, it gave me additional cash flow so that issue has been solved in my end. Another issue I've face in the items I'm selling. Sometimes even my supplier went out of stock so I learn m lessons not to rely on only 1 supplier. So business in my end is doing doing, and partly because of bitcoin that really help me stretch out my capital.

The failure of a business is working capital and that's what most entrepreneur fail to understand and even large businesses still borrow money to meet their working capital needs because without that the business will sink in no distant time. As a business coming in, the first issue I see a little bit technical is that working capital and it goes beyond ability to sell or having clients to sell to.