Some things to consider before starting a business

[francisvien]

First Do your research. You want to make sure you understand the industry you'll be involved in so you can dominate. No matter how unique you might think your business idea is, you should be aware of competitors

Take care of the legal aspects. Choose legal structures.

Map your finances. Starting a business requires money that you likely won't have right away, which is why it's encouraged to seek capital.

Hire help. Starting a business should not be an independent journey, no matter how tempting. Hiring help along your journey will set you up for success.

[ihsanskanzaone]

first you have to do market analysis whether the coin you are going to buy has high market competitiveness because we will not know in the future it turns out the coins you buy will be garbage. Use capital initially is not too big but your knowledge and experience will get many benefits because many people start with big capital but even loss.
You should be able to think ahead and be able to take the right steps is a very important thing in your success so you need more updates about market movement information so you can make the right decision.

[dogz12]

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

The feasibility of the business is the first thing to consider in putting up a business. Can it be done or is it viable? Since profit is the main reason why put up the business, will the prospect bite or buy the products or services you have to offer them? The last and i think the most important thing to consider is the capital.

[Damsel_7]

Before start operating a business consider your:
1. Manpower- ensure enough manpower to do the tasks and knowlwdgeable about the business
2. Equipment/Machine-if the business needs those ensure functional and in good condition
3. Materials- intact, complete and available
4. Location - consider its being strategic and marketable

[nirmalaayi]

you may to add in your list is start bussines from what you like, so you can enjoy that bussines.

[t2yax]

The number 1 that you have to consider for starting a business is your CAPITAL. For me, when you are investing give your 101% effort, every ideas you have give it but dont give your 101% of your money, because in business you should have Plan A, and Plan B. Plan A if your business will be okay and the plan B or back up plan is  when it will not be ok, So if you are not putting your whole money in a 1 business,. lets say it doesnt go well then atleast you have your other money together with your back up or Plan B.

[mezzaluna]

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 analysis are on point. But I would like to add <b>innovation</b>. Sure making something new is hard, but learn to innovate. What are the things would you like to change for a certain product? What can you improve? Do you think it will click on the mass? Making something from scratch is for people like Thomas Edison, but everyone can be innovative. People like new things, unless it's stupid.

[lili song]

When you setup business you must consider about market, products, and networks. For me that 3 thing is main power for business.
As you see now market almost 100% is online, and buyer can search and get their products easily and fast. If possible you also can collaboration with others company, to make your business get stronger. Your business not must increase innovation side, but must have endurance, so your business can stay for a long time. 

[jaaeeeyyyy]

As a student we have tackle a short topic about entrepreneurship there are P's to consider to this.

Place- where you want to start your business, for crypto obviously on the internet or world wide web.
People- your customers to be offered by your services or product.
Product- This is the quantity that can be obtained by your customers.
Price- the set and volatile value of your product.

This is what i learned i hope it will help you.

[Cinemo]

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

Starting business is not easy. First think all the expenses your needed , the place you are going to put it , balancing your time , choosing a person that you are going to work with. When your going to do a business make sure that you are passionate about it.

[Razick]

When it comes to starting a business start up capital is important but as you said not using your own money and seeking partners is good but it is not often that you find people who are willing to invest in a startup so you at least have to have your own capital to start with and so when you start seeking a partner they will see how serious you are and will be more inclined to partner with you. Another thing to consider is time, start ups eat up a lot of your time, even more than your 9-5 so you have to be willing to sacrifice time in order to make it work.

[[As]]

the most important thing to consider when starting a business are the market, your capital, and the profit that you'll receive.

You want to make sure you understand the industry you'll be involved in so you can dominate. No matter how unique you might think your business idea is, you should be aware of competitors

[chel0]

Above mentioned are all significant things to consider when starting a business including the mental ability being added by one of our friend here in forum. And to make it complete, I want to add up two things.That would be Patience and Prayer.When having a business you can face different persons with different attitudes so you have to be patient in dealing with them.And lastly, Prayer which is the most important thing to be considered in planning or even starting a business since everything in here visible or invisible are all GOD's creation.So we need to Pray asking for HIS blessings to have a successful business.

[vinz7229]

Things to consider too are: Location because with less people, expect a day with no costumer. Business that an owner is good at like selling in demand stuff( food, water, service), although you have many competitors, if yours are the best then costumers will come back again and again

In addition to that, make a survey regarding of your product that you want to introduce in the market, that is the most effective way of marketing cause you will know if your product is good or not, same with Bitcoin before entering in Bitcoin world make sure that you have an idea how does it goes so it would not hard for you to understand all terms here in Bitcoin world.

[Ayaah]

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

just would like to add; whatever strategy works, continue with it. never change strategy unless it doesn’t work. you can always come up with a new idea. always make sure to stay positive.

[rc411]

I don't agree with number 1. Having a co-owner is a very wrong move. They can interfere with your decisions and can do stuffs that would cost you lost. Or maybe this just applies to my country. Since my country is composed of scammers and traitors.

[H0USE]

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 think you have highlited most of the key features neccesary before starting up a business.But you must complete knowledge about the business you are going to start and have big heart which will help you to face losses.You should have a good managerial team behind you which will help you to make effective decisions and have a sound capital with you in case of emergency.Beside this you have mentioned all the important points.

[Lomberjack]

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

Some things that you have stated are really taking into considerations for the best starting up of your own business. For you to be able to have a successful business, you must think wisely on how you will spend your money into taking up a business that will make you earn valuable profit which is good for your own sake. Sometimes taking up risks are widely associated so better do decisions you have think a lot of times so you will not regret those decisions of yours in the near future.

[Gabash]

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 think there's a lot of things to consider before starting a business and different strategies, but most successfull people shared their knowledge regarding on business.
1.knowledge
2.planning and preparation
3.confidence and patience
4.capitalsm...it can be effort or money.

[renggileh]

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.