Essentials to starting A business

[BVeyron]

I think what the OP said is complete enough to be followed by people who want to start a business. because it is better for us to always make thorough preparations even though these preparations will take a longer time. it's better than us rushing to build a business without proper preparation which ends in failure. One point that can be added is that it is important to have a strong mentality in building a business. because I know that building a business will also drain our mentality. because business is an unsafe zone, so we must always adapt at all times to adjust to market and economic conditions around us. we must always be ready to face various obstacles. and it is also necessary for us to make a backup plan and also reserve capital.

The list is really good. There is one more point, it is supposed to be a part of several points of the list, but Id make it a separate point: the toughest problem of all business initiatives, which brings instability is rivalry. Ability to compete with rivals means not only being able to compete with business projects of the same field, it also means the ability to discover and surpass hidden threats, many of which originate not from direct rivals, but from other business branches, whose income can be affected by new project development.

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[serjent05]

The list is really good. There is one more point, it is supposed to be a part of several points of the list, but Id make it a separate point: the toughest problem of all business initiatives, which brings instability is rivalry. Ability to compete with rivals means not only being able to compete with business projects of the same field, it also means the ability to discover and surpass hidden threats, many of which originate not from direct rivals, but from other business branches, whose income can be affected by new project development.

This can be included in marketing strategy.  Marketing strategy is a product of research.  That includes information on the rival company, market trends, demands, pricing etc.  I think this fall under the research and development division and any result is implemented by the marketing department.  I agree that this kind of information is very essential for a business' success and if I am not mistaken, this is one of the pillars that drive the company to successfully beat the competition.

[Botnake]

The major things someone have to put into consideration before establishing business, the first is to have a self determination, secondly you most at least know the preamble or neither mastered the business you want to venture into before establishment, I believe that another thing important to be considered before establishing a business is to know a good site for establishment and population rate of people living in area you want to establish your business.

For me, once you have knowledge and background experience on the business that you plan to enter, most likely that you will succeed on it. Of course, with sufficient funds so that everything that is on the plan will be easily put into action. I guess if you have them, everything good will follow including for the best site for your business and what kind of business that will be in demand for the people living near to it.

[Viscore]

I think what the OP said is complete enough to be followed by people who want to start a business. because it is better for us to always make thorough preparations even though these preparations will take a longer time. it's better than us rushing to build a business without proper preparation which ends in failure. One point that can be added is that it is important to have a strong mentality in building a business. because I know that building a business will also drain our mentality. because business is an unsafe zone, so we must always adapt at all times to adjust to market and economic conditions around us. we must always be ready to face various obstacles. and it is also necessary for us to make a backup plan and also reserve capital.

Everything in business is uncertain that’s why we should make a thorough preparation before it will be put into action. And there are time that even if your business prosper at first, that does not mean that it will stay that way forever. At least you should always be competitive by getting updated with the latest promotions so that you can always be on top of other businesses. And when everything you put into it does not come successful, then shift to plan b. That’s the reason why there’s always reservation for plans in case the first one does not work out.

[AmoreJaz]

I think what the OP said is complete enough to be followed by people who want to start a business. because it is better for us to always make thorough preparations even though these preparations will take a longer time. it's better than us rushing to build a business without proper preparation which ends in failure. One point that can be added is that it is important to have a strong mentality in building a business. because I know that building a business will also drain our mentality. because business is an unsafe zone, so we must always adapt at all times to adjust to market and economic conditions around us. we must always be ready to face various obstacles. and it is also necessary for us to make a backup plan and also reserve capital.

Everything in business is uncertain that’s why we should make a thorough preparation before it will be put into action. And there are time that even if your business prosper at first, that does not mean that it will stay that way forever. At least you should always be competitive by getting updated with the latest promotions so that you can always be on top of other businesses. And when everything you put into it does not come successful, then shift to plan b. That’s the reason why there’s always reservation for plans in case the first one does not work out.

in short, you should always have contingency plans if worst situation comes. there's no forever on this planet, but you can always change to adapt for the betterment of your business. you can also diversify your portfolio, so when the time comes and your business is not earning anymore, you have other facet to fall back into.

[JeffBrad12]

I always taught that in making a good business, one should make good business plan first, because if you don't, there's significantly higher potential that you are gonna be wasting your business.
you should make certain planning in regard of man power in running your business and there are operational costs need to be think of, this is most certainly not just for random people, business take good efforts in getting it to succeed, even then only very few of them could actually gain success, if you truly want a to start a business you should know before hand that the chance of bankruptcy is higher than success, it's like 1 out of 1000 business just gonna go bankrupt, what you see on the surface, all those good business making trillions every year, only very small fraction of business ever existed.

[TimeTeller]

I always taught that in making a good business, one should make good business plan first, because if you don't, there's significantly higher potential that you are gonna be wasting your business.
you should make certain planning in regard of man power in running your business and there are operational costs need to be think of, this is most certainly not just for random people, business take good efforts in getting it to succeed, even then only very few of them could actually gain success, if you truly want a to start a business you should know before hand that the chance of bankruptcy is higher than success, it's like 1 out of 1000 business just gonna go bankrupt, what you see on the surface, all those good business making trillions every year, only very small fraction of business ever existed.

The basics should be covered first, so you won't regret later on that you skip those parts.
So yes, a potential good business should have a good business plan in the first place.
You can't just start without any planning at all. If you do that, it means you will be bound to failure.
Remember, that's your money on the line. So better secure it by meticulously assessing the components of the business that you want to create.
Also, you should not rely from someone about the vital aspects of the business. You will be running blind if you have little to no idea of what's going on with your business.

[Alisha-k]

There are several key things you should have in place before starting a business to increase your chances of success.

A support network: Starting a business can be stressful, so it's important to have a support network of family, friends, or mentors who can offer advice and encouragement.

A marketing strategy: A solid marketing strategy can help you attract customers and establish your brand. You should identify your target audience, research your competition, and choose the most effective marketing channels for your business.

A strong online presence: In today's digital age, having a strong online presence is critical. You should have a professional website, social media accounts, and other digital marketing strategies in place.

A team: You may need to hire employees, contractors, or consultants to help you run your business. Make sure you have a plan for finding and retaining the best talent.

these points are very necessary, very necessary..

Don't get me wrong, all points are very essential but these few seems to have been neglected by business owners over the years...

The online presence had grown so well to have become a good platform for business owners but persons still find it difficult to adapt to this change and I wonder why...

[Twentyonepaylots]

The major things someone have to put into consideration before establishing business, the first is to have a self determination, secondly you most at least know the preamble or neither mastered the business you want to venture into before establishment, I believe that another thing important to be considered before establishing a business is to know a good site for establishment and population rate of people living in area you want to establish your business.

For me, once you have knowledge and background experience on the business that you plan to enter, most likely that you will succeed on it. Of course, with sufficient funds so that everything that is on the plan will be easily put into action. I guess if you have them, everything good will follow including for the best site for your business and what kind of business that will be in demand for the people living near to it.

I agree but I think when it comes to starting another business, even though you have all the knowledge and experience, there is still no guarantee that you will succeed. But it is indeed that you have a greater chance of making the business work and as an experienced person on business you can plan out easily all the things that could happen in your business. No business has a smooth path in terms of running it since there will always be some problems that may occur, but we should learn to adapt and be solution oriented so that we can make every problem be solved and make sure that we learn something from it.

[Kasabus]

The major things someone have to put into consideration before establishing business, the first is to have a self determination, secondly you most at least know the preamble or neither mastered the business you want to venture into before establishment, I believe that another thing important to be considered before establishing a business is to know a good site for establishment and population rate of people living in area you want to establish your business.

Know your business and its best location so that you can expect for its success and prosperity. Because even if you have the best attitude and faith towards your business, and highly sufficient funds, that will not work as long as you don’t know your business and how it will be profitable in the long run. Also, with high competition in the market, it’s very important to keep your business on top from others by always meeting the demands of the consumers.

[NotATether]

The major things someone have to put into consideration before establishing business, the first is to have a self determination, secondly you most at least know the preamble or neither mastered the business you want to venture into before establishment, I believe that another thing important to be considered before establishing a business is to know a good site for establishment and population rate of people living in area you want to establish your business.

Know your business and its best location so that you can expect for its success and prosperity. Because even if you have the best attitude and faith towards your business, and highly sufficient funds, that will not work as long as you don’t know your business and how it will be profitable in the long run. Also, with high competition in the market, it’s very important to keep your business on top from others by always meeting the demands of the consumers.

Dude, why the hell are people still replying on this topic.

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