Some things to consider before starting a business

[Yamifoud]

Things to consider before starting a business first the money you invest..you need to be sure that your business will return your investment and second is the place where you put your business..

The assurance of having return from your investment at first is just only 30%,  because the rest will falls into expenses. One year from the start, investment is not gaining at all. Best marketing trategies are very vital things in running business, as I will continue for another years that's the time your earned more.

[1713485654]

1713485654

[Rufsilf]

Before you start your own business, you should know first if you are doing it with a good analytical thinking. You need to analyze things first before doing anything because if you will not do it with a good analytical then there is a higher chance that you will not make any good outcome from starting a business. So if i were you, i will do analyzation first.

[Sidas_Crew669]

Things to consider before starting a business first the money you invest..you need to be sure that your business will return your investment and second is the place where you put your business..

Consider all the aspects of building up a business with sufficient amount of money to fund it and also the people who your going to serve with your products and services. You need to know if the market needs that kind of business, if it will help everyone. And what is the advantages of your business to other competitors in the industry.

Exactly once. Indeed before starting a business the main steps that we have to do is analyze all the things there are in it. Because the business is not an easy thing to do, because a lot of things that must be thought of the complex by the businessman if not then everything will end in a big loss. But of all my business category analysis, only marketing that has always had a lot of enthusiasts.

[Ctn]

Yeah some good points but too much honesty never pays the electricity bills. Getting partner is not as easy as we think because we are talking about money here which doesn’t come free. The mutual understanding is first aspect if I want to make business with someone. Honestly speaking last point of your guide pokes me little more than others. Sell excess and not the price, that’s correct but that’s also very difficult to achieve and that’s why people often fall for tricking the prices and try to make the profits from less sell more price. But that’s upto how your business is and it’s nature too. Good read though.

[selectaselectine]

You have to consider your market, the availability of the products you need, location, and ofcourse the profit. Since you're starting a business, you need to set a goal on how many should be sold on the first quarter and so on so that you can control the expenses.

[moanamakeway]

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 software and data storage with small companies are 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

Your post is very interesting! I for myself am wanting to start up a business. But I am considering to put up a food business. If I am to put up a business like this, I want it that I am familiar with how it operates and the people I want to cater.
My advise to business minded people like me: choose your passion.

[valentinen39]

Many things to consider before starting a business..consider first your capital..you have much money in order to run your business..the product into days market should also be consider..also the better place should be plan etc,..etc..

[Bitcoinjheta]

Many things to consider before starting a business..consider first your capital..you have much money in order to run your business..the product into days market should also be consider..also the better place should be plan etc,..etc..

Before starting a business we should first conduct a feasibility study as to how we gonna earn from that business and if its location is accessible enough to your target market. Also we must consider if we have enough capital to run the business including the grace period during opening days since it will really not get high income right after the operation starts. There should be marketing and adjustment periods where in you will introduce your product but it is more advantageous if prior opening you already have marketing approaches.

[maydna]

Many things to consider before starting a business..consider first your capital..you have much money in order to run your business..the product into days market should also be consider..also the better place should be plan etc,..etc..

Before starting a business we should first conduct a feasibility study as to how we gonna earn from that business and if its location is accessible enough to your target market. Also we must consider if we have enough capital to run the business including the grace period during opening days since it will really not get high income right after the operation starts. There should be marketing and adjustment periods where in you will introduce your product but it is more advantageous if prior opening you already have marketing approaches.

the most important that we should consider is preparing the money to start a business if we want to start in offline business but if we want to start in online business then we can start with free one. we need to determine what kind of business we want to start and what we want to use so we can figure out what we need to do. there will need a lot of things to prepare before we can start our business and we need to spend our time to study what business that might be work for a long term.

[Chanock]

There are a lot of consideration when you put up or start a business. Yes your analysis is true and all of your statement is need to considered. But mental aspect is the one consideration you need to do because all of your unexpected to your business will affect your mental preposition in business. Especially when your capital is not to big and you are expecting that you are gaining with high profit but you get failed to get it. Another consideration is your market place and what people needs including your items price is affordable.

[d1ceplayer]

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 software and data storage with small companies are 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

Everything you listed there are things that are not only faulty but also impracticable taking the first one for example if you have a business you yourself don't invest in, how exactly do you expect others to invest in you that would entirely a gamble. Any right thinking investor, would want to see if this individual even believed in this project but if that cannot be established, what is now the drive to run with? People don't invest in dreams but actions practicable and running already.

A lot of thing to consider and search before starting a business. As a student of MBA we have been taught that when you want to start a new business the first thing is environmental scanning then the place where to start what to start from where you should buy materials.

The same is here in bitcoin. Although it is a currency but still needs some search about the market, the value, predictions of the future of bitcoin. So you will be relaxed to invest in bitcoin.

[mOgliE]

I cannot agree with you on sooo many points here!

1.   Of course you have to invest your own money. Maybe not a 100% but if your goal is to make money with your business, then you need to possess it. Going only through debts is way much riskier! 
2.   Indeed you have to work hard. But you must also be able to take a step back in order to consider your environment and the changes that may affect your activity.
3.   The latest technology is not always a great choice. Biometrics for example are seen as the latest fashion, when actually the traditional custom officers is much more reliable
4.   Stick to the delay you have imposed yourself. If it is too hard, then delays are unrealistic.
5.   In the same idea, you should be realistic regarding all matters.
6.   As for the price, it is highly depending on the field you are operating in.

In fact, your list is quite similar to the SMART rules, used in management. Objectives should be Specific, Measurable, Achievable, Realistic, and Time-constrained! 

[Wagako]

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 software and data storage with small companies are 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

I've learned during my economics subject that putting a business you must have SWOT anlysis. You must consider the Streghts, Weaknesses, Opportunities, and Threat. With that i know that you will be successful with your business

[Razick]

I cannot agree with you on sooo many points here!

1.   Of course you have to invest your own money. Maybe not a 100% but if your goal is to make money with your business, then you need to possess it. Going only through debts is way much riskier! 
2.   Indeed you have to work hard. But you must also be able to take a step back in order to consider your environment and the changes that may affect your activity.
3.   The latest technology is not always a great choice. Biometrics for example are seen as the latest fashion, when actually the traditional custom officers is much more reliable
4.   Stick to the delay you have imposed yourself. If it is too hard, then delays are unrealistic.
5.   In the same idea, you should be realistic regarding all matters.
6.   As for the price, it is highly depending on the field you are operating in.

In fact, your list is quite similar to the SMART rules, used in management. Objectives should be Specific, Measurable, Achievable, Realistic, and Time-constrained! 

1. Agreed. I do not like the idea of using debt to start a business. Instead, work and save some money and then use it to start.
2. In other words, you must be adaptable to constant changes in your industry.
3. Not really... in most case, new technology is better for business.
4. It is better to overestimate how long something will take then underestimate.
5. Obviously...
6. Again, obvious.

[rocketbits]

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 software and data storage with small companies are 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

All the points you stated are very important in starting a business.

But I think the most important point is 3. Use the latest technology. As the world is growing there is more and more demand to the new and latest technology which can make our living more easy and convenient.

Technology used in the business is will give a great chance of increasing the business and give the user a new way to think and manage things. Technology plays a very important role in this as people love new technology.

[innocent93]

The hardest thing is to be your own boss. Every one has a different work style, but if you want to start a business, a provider for emploings then you must know in what you are going to step in because everybody involved depends on you.

[zigroud]

The hardest thing is to be your own boss. Every one has a different work style, but if you want to start a business, a provider for emploings then you must know in what you are going to step in because everybody involved depends on you.

I have to agree.
Starting a business means taking responsibility for other peoples' bread and butter, making sure they can eat at the end of the month.

If you cannot manage yourself and be your own boss, good luck managing a business.

[jhonjhon]

The hardest thing is to be your own boss. Every one has a different work style, but if you want to start a business, a provider for emploings then you must know in what you are going to step in because everybody involved depends on you.

I have to agree.
Starting a business means taking responsibility for other peoples' bread and butter, making sure they can eat at the end of the month.

If you cannot manage yourself and be your own boss, good luck managing a business.

As long as you enough capital and knowldegde in running business, then chances of having a successful one. Although location might be a big consideration, but the most important is how the person handling their businesses infront of the people. Having a delightful services and business strategies is a key for  success.

[Viscera]

Do not put all eggs in one basket, because not all business are in profit sometimes their you lose sometimes you get profit it depends on your daily sales. Be a leader of your own company,respect your employee give them a positive things in life. Inventory of goods and counting sales in daily basis.

[gredisgold88]

#1 is not always an option for people. It does help though since the corporation is a separate entity.

#2 this will be the main pain in the start, especially if really have a small capital. Still, don't be stingy. Outsource what you can.

#3 should be. Any advantage would be useful. And you don't even have to be a tech startup. It can be even be the draw, like those restaurants where you order from touchscreens on the table and a little "train" delivers the food to you.

#4 ramen

#5 only if what you are offering is not entirely new. Keeping an eye out at would be competitors would be useful coz you wouldn't want to go all out against established businesses, at least not at the beginning.

#6 watch out for economy of scale. Larger business can offer physical products cheaper and you'd have a hard time making cheaper stuff with the same quality. Find a niche. Obviously irrelevant for products like software.

sarcasm, it is true as it should be, but how do you put ramen for number 4.  start a business with the right capital, and have a produce high quality.