Some things to consider before starting a business

[jostorres]

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

Plans without capital is like a dream that can’t be achieved. So yes, you really need capital(money) to start up your business. Everything you do online and offline, there is always money involved in the preparations you make, the advertisement, the construction and the rest of them.

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[sariz12]

For my own opinion ,when you starting a business you should know the main idea to improve your business and the important is you have a limitations followed. The things that you don't need to do and the things that you need to do as a business man/woman .And for more additional information,the best techniques is you will ask some of your family or friends that have a long experience about of your business to learn more how your business run very well,and also your friends that you'd ask will guide you to learn and they will help you to improve your business..

[henmark]

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

Plans without capital is like a dream that can’t be achieved. So yes, you really need capital(money) to start up your business. Everything you do online and offline, there is always money involved in the preparations you make, the advertisement, the construction and the rest of them.

That’s true! Business without money is just like a body without soul, no matter how beautiful it is, it is of no use. We need investments to set up a business and to run it successfully. First you invest and then you earn good amount with business. There is no business seen successful without capital.

[Kevondo]

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.

Yes it is true because when I will start any business I will search on the Google that what is the most demanded product in the market now. So after that I will check my saving because without enough money I will not be able to invest good amount in the business and I will not be able to make profit with it so after that I will go for the paper formalities and will start my business with some trust worthy people not with the scam.

[Smarty14392]

1. Do not invest your own money

Since most businesses are risky, seek partners. So, if things do not go all the way, you will not go bankrupt because of the start-up funds, and not pursued debt.



2. Work hard



If you are not willing to work hard, overtime, forget personal gain and health, then entrepreneurship is not for you. At first, you definitely will not be able to pay employees, even if the employees are cheap. So, your employees are your own.

3. Use the latest technology

New technologies such as applications and data storage with cloud technology are very cheap and make small companies able to compete with large companies. Take advantage of low cost technologies on the market.

4. Respect the time

Rate the money in your time, for example Rp20 thousand per hour. This will help when you have to make a decision: If a store charges Rp10 thousand for shipping every week, and it takes you 2 hours to go to the store itself, then pay for the postage from the company, because it is cheaper.

5. Realistic

When creating a business model, look around and look for a successful example of the business model you want, then learn. If you can not find, whether you are an incredible genius, or your business model will not work in the real world.

6. Sell excess, not price

You start a business, you are naturally frustrated marketing it. But, if you compete on the price, you will end up selling at barely or even under capital. Master the skills of communicating with customers, to explain that your product price is higher because it has a better value

You have elaborated all the necessary points in a very good way. I will definitely agree to what all you have said. I think before doing up anything or starting any business, you need to have a good knowledge about that business.

Look out for Product, People, Price and Place. All these things will be affecting the most and this will decide how much profit you will get.

[Schuyler]

1. Do not invest your own money

Since most businesses are risky, seek partners. So, if things do not go all the way, you will not go bankrupt because of the start-up funds, and not pursued debt.



2. Work hard



If you are not willing to work hard, overtime, forget personal gain and health, then entrepreneurship is not for you. At first, you definitely will not be able to pay employees, even if the employees are cheap. So, your employees are your own.

3. Use the latest technology

New technologies such as applications and data storage with cloud technology are very cheap and make small companies able to compete with large companies. Take advantage of low cost technologies on the market.

4. Respect the time

Rate the money in your time, for example Rp20 thousand per hour. This will help when you have to make a decision: If a store charges Rp10 thousand for shipping every week, and it takes you 2 hours to go to the store itself, then pay for the postage from the company, because it is cheaper.

5. Realistic

When creating a business model, look around and look for a successful example of the business model you want, then learn. If you can not find, whether you are an incredible genius, or your business model will not work in the real world.

6. Sell excess, not price

You start a business, you are naturally frustrated marketing it. But, if you compete on the price, you will end up selling at barely or even under capital. Master the skills of communicating with customers, to explain that your product price is higher because it has a better value

You have elaborated all the necessary points in a very good way. I will definitely agree to what all you have said. I think before doing up anything or starting any business, you need to have a good knowledge about that business.

Look out for Product, People, Price and Place. All these things will be affecting the most and this will decide how much profit you will get.

I am agree.  That 4 P`s are very important when putting up a business.  Nowadays, online business is really a trend. Bitcoin is one of the online businesses, so there are also many competitors and many other digital currency outsourcing.The key to starting a new business is to be organized. So many people are driven and have great ideas.

[omonuyak]

Before you venture into any business you most be prepared to study every information about that business and also  trying to develop your skills about the venture you want to embark. I am making a living online currently because I learn about forex trading since 2009 and transfer my knowledge to bitcoin and cryptocurrency this year. Your skill is your business future  and I will also advise you to focus your mind on cryptocurrency business related.

[Vaskiy]

Before starting a business, be clear about the business whether it is service oriented or something related to trading. Later calculate the capital affordability. Then keep half the investment as an backing and invest the half. The reason is that we're not sure about the outcome. If loss happens we need can make alternate plans with what we have in hands.

[BaraxLo]

-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.

I think complete package you just presented here. These are some basics that must be endured and fulfilled with full devotion and hard work so that this will pay you off later. Business is not that much easy but not much difficult too. Do any decision wisely and patiently.

[bitgolden]

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.

Yes it is true because when I will start any business I will search on the Google that what is the most demanded product in the market now. So after that I will check my saving because without enough money I will not be able to invest good amount in the business and I will not be able to make profit with it so after that I will go for the paper formalities and will start my business with some trust worthy people not with the scam.

Yep! We need to look for those thing that are highly used by public or are among most wanted things of the humans like foods, cosmetics etc now a day. After selection of your products and audience, you do need to look for the best location for your set up and all this can become reality only if you have money.

[EdfuJihad]

A lot of things need to be consider before starting a business. Such as these, you, as the owner the suppliers you'll need and the target markets, your customers. You'll need to have a firm objective for your business to last and clear and concise plan before you start. Research throughly to avoid scammers most specially in choosing suppliers. Being creative and having unique ideas may catch the eyes of your target consumers.

[bebejhen]

Planning is the first thing must do in starting business. Think what kind of business you want. It should be the business that you really want so you won't hesitate in this. Then act. Search a good location. Know where the market is higher. Study it very well. You must know everything about it. Every angle, even if in smallest things.

[davinchi]

1. Do not invest your own money

Since most businesses are risky, seek partners. So, if things do not go all the way, you will not go bankrupt because of the start-up funds, and not pursued debt.



2. Work hard



If you are not willing to work hard, overtime, forget personal gain and health, then entrepreneurship is not for you. At first, you definitely will not be able to pay employees, even if the employees are cheap. So, your employees are your own.

3. Use the latest technology

New technologies such as applications and data storage with cloud technology are very cheap and make small companies able to compete with large companies. Take advantage of low cost technologies on the market.

4. Respect the time

Rate the money in your time, for example Rp20 thousand per hour. This will help when you have to make a decision: If a store charges Rp10 thousand for shipping every week, and it takes you 2 hours to go to the store itself, then pay for the postage from the company, because it is cheaper.

5. Realistic

When creating a business model, look around and look for a successful example of the business model you want, then learn. If you can not find, whether you are an incredible genius, or your business model will not work in the real world.

6. Sell excess, not price

You start a business, you are naturally frustrated marketing it. But, if you compete on the price, you will end up selling at barely or even under capital. Master the skills of communicating with customers, to explain that your product price is higher because it has a better value

You have elaborated all the necessary points in a very good way. I will definitely agree to what all you have said. I think before doing up anything or starting any business, you need to have a good knowledge about that business.

Look out for Product, People, Price and Place. All these things will be affecting the most and this will decide how much profit you will get.

If you don’t invest your money, whose money will you invest, my own? Lol. There are different types of business to get into, and some them requires your money while some of them do not. So for you to succeed in a business, you will have to know what’s required and do it first.

[Idrisu]

We must put what op has said into consideration before starting any business. I will also like to say that the most important thing to do before commencing any business is to develop your skills and knowledge including understand of the certain business you want to embark on.from there you can now add on recommendation op has provided. hope this help!

[gabmen]

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

For me, having a pretty decent capital and knowing and having a solid plan would be the most important. All else would follow asong as you know what you're doing. Having that knowledge would allow you also to make calculated risks that usually is needed especially when you're just starting up

[Eternu]

I would say that everything starts with an idea. If your idea is good, and when i say good i mean realistic and not some fantasy thing, than you are on good path. After acquiring good idea you must think about how to execute it and does the place you live in needs that. You need to think how much money you need from start and things to come after opening. Basically you need to put everything on paper and really think true it, and when you done that... well think again. If you put risks on minimum that is best you can get, there must be some risks in life.

[Altero]

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

Exactly, don't think to make fast money or be profitable by tomorrow. Because 1-12 months is just a recovery of all your expenses and at this stage you are still making some adjustments and innovations that can make your business hit by the community. And after this, you gonna start earning profit. Good management is a key for a great success in any business, so make sure you have that.

[GeniusAko]

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

Yeah it seems that you are right. We really need capital for us to start a business. Having a big capital is more better because we can generate more profit if we start a business with a high capital.

[samputin]

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

Let me add some more to start a business and to become successful:

1. Consider the product you want to sell.
2. Make sure that the place of your business is easy to see and many people around.
3. Make a strategic plan for your business
4. Conduct a survey or observation to know what products or goods suitable on your selected place.

[marketone]

In order to be successful, you need to find a good development team because without that it is not possible to deliver the product you desired. The product you are concentrating should attract people and should be completely different from the other. yes, forgetting awareness you need to do advertising and marketing materials with other experience people.