The most important factor when building a business

[Bitcoin Maxi]

I totally agree with you. The target audience is one important factor to consider when building a business or even starting a business. You need to know the people you are offering your services to as they are the ones that will benefit from it.
Also I will say identifying market demand is also important because you need to source for a product or offer services that your target audience actually needs. It is necessary you  look into your audience and then go for services or products people in your location of business actually need.

[Pablo-wood]

I totally agree with you. The target audience is one important factor to consider when building a business or even starting a business. You need to know the people you are offering your services to as they are the ones that will benefit from it.
Also I will say identifying market demand is also important because you need to source for a product or offer services that your target audience actually needs. It is necessary you  look into your audience and then go for services or products people in your location of business actually need.

I think location should determine the target audience in the first place. This will help in reducing the inaccuracies when carrying out market surveys and environmental experiments. If the needs of people staying in that location is properly studied it will make more sense when determining the right audience, either targeting the entire population or limiting it to a specific class of persons within the same locality, that way it becomes easier to attract the audience even better.

[Hanadawa]

I think location should determine the target audience in the first place. This will help in reducing the inaccuracies when carrying out market surveys and environmental experiments. If the needs of people staying in that location is properly studied it will make more sense when determining the right audience, either targeting the entire population or limiting it to a specific class of persons within the same locality, that way it becomes easier to attract the audience even better.

Location plays a crucial role in determining your target audience, but you also need to consider digitalization and the changes that will occur in the next few years. If your business targets a specialized audience, such as teenage girls, it might be easier to create a business plan, but your market will be very small. Conversely, if your target audience is broader, you need to develop a plan to outperform your competitors. I think the first thing to do is determine your business type and then try to find an audience in that area. You don't need to be specific, but look for something relevant to your business. I'll give an example, like a printing or photocopying business. In my area, areas with schools and universities are the most strategic for such businesses. However, areas with a lot of students living in boarding houses are also quite strategic because they are still relevant. I think determining a target audience by looking for relevance tends to be easier than looking for a very specific one.

[Fakhrulenclix]

I think location should determine the target audience in the first place. This will help in reducing the inaccuracies when carrying out market surveys and environmental experiments. If the needs of people staying in that location is properly studied it will make more sense when determining the right audience, either targeting the entire population or limiting it to a specific class of persons within the same locality, that way it becomes easier to attract the audience even better.

Location plays a crucial role in determining your target audience, but you also need to consider digitalization and the changes that will occur in the next few years. If your business targets a specialized audience, such as teenage girls, it might be easier to create a business plan, but your market will be very small. Conversely, if your target audience is broader, you need to develop a plan to outperform your competitors. I think the first thing to do is determine your business type and then try to find an audience in that area. You don't need to be specific, but look for something relevant to your business. I'll give an example, like a printing or photocopying business. In my area, areas with schools and universities are the most strategic for such businesses. However, areas with a lot of students living in boarding houses are also quite strategic because they are still relevant. I think determining a target audience by looking for relevance tends to be easier than looking for a very specific one.

The situation is indeed crucial, and we can assess market demand and competitors to develop strategies to ensure the success of our business. It certainly won't be easy, especially given the competition, as we must surpass our competitors. However, there are ways and means to achieve this if we approach it correctly.
Market demand varies from region to region, so we must be discerning in identifying opportunities.

[pusaka]

I totally agree with you. The target audience is one important factor to consider when building a business or even starting a business. You need to know the people you are offering your services to as they are the ones that will benefit from it.
Also I will say identifying market demand is also important because you need to source for a product or offer services that your target audience actually needs. It is necessary you  look into your audience and then go for services or products people in your location of business actually need.

I think location should determine the target audience in the first place. This will help in reducing the inaccuracies when carrying out market surveys and environmental experiments. If the needs of people staying in that location is properly studied it will make more sense when determining the right audience, either targeting the entire population or limiting it to a specific class of persons within the same locality, that way it becomes easier to attract the audience even better.

A strategic location and understanding the potential of our target customers are crucial. We mustn't overlook this, as business requires careful consideration. Finding a strategic location is often a challenge, as rent or purchase costs can be prohibitively high.

Following all of this, we must ensure we provide excellent service, especially if we're building a business that directly interacts with customers. Excellent service is another key factor in retaining customers. I personally think that when the service is excellent, I'm sure I'll return.

[Bitcoin.com97]

I don’t think target audience is the most important thing , one need finance before thinking of business , no matter how small you want to begin with , you need money first of all , them before you think of what to produce and who  to produce for, this are the three major things to consider before starting a business , then location , look for a nice environment suitable for the business because location is also a contributing factor to the growth of any business, then add a touch of excellent to your work , so these are the important factors I can consider when build a business.

[Jateng]

The situation is indeed crucial, and we can assess market demand and competitors to develop strategies to ensure the success of our business. It certainly won't be easy, especially given the competition, as we must surpass our competitors. However, there are ways and means to achieve this if we approach it correctly.
Market demand varies from region to region, so we must be discerning in identifying opportunities.

understanding market demand is essential because it is different in differen region. so deep research is important before taking any major step. However economic condition is also matter a lot. stable economic condition play a key role in business growth. When the economy fluctuate it create uncertainty and instability in business. Factors like protest, political issues affect the business and confidence of investor. the government support the business in expands easily or it automatically lead towards economy on growth road.

[HelliumZ]

The most important factor to consider when starting to build a business is the target audience. You have to think of who would you want to cater to. Who are the communities that you may profit off of. Like for example if there is a school near you, you should know that students would be your target audience. You should start a business where students can buy materials from or a place they can study or even hang out around. I believe that if you studied your target audience, the first step of your business is already successful enough.

The main purpose of starting a business is to determine the type of service you will provide. Especially if you want to start a business in front of schools and colleges, you need to determine what kind of service you will provide and to whom you will provide the service.  If you are a restaurant, you will need to consider the food menu, what types of food are popular for customers /Students and the behaviour of your hotel management. Remember that for a business, the quality of customers, services and products, and the performance of your management team play a more important role.