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Business strategy
8 Ways to Determine the Type of Business
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[QUOTE="Suba, post: 293527, member: 3658"] Many people (especially those who want to be a businessman) are still confused when choosing the type of business they will run. Mistakes in choosing the type of business will result in losses in the future. because of that we determine the type of business that is suitable, appropriate and prospective, must be considered carefully. We need to consider many factors to determine the right and promising type of business, in the following we will try to discuss how to determine the right type of business 1. Adjust to interests, hobbies and skills When choosing a business, it should be adjusted to your interests, hobbies and skills so that once the business is running it won't make you bored or bored, also your skills will make your business grow. 2. Make a list of business fields If there are many alternative business fields that you choose, make a list of business fields, evaluate each business sector, whether it's about prospects, level of competition, etc. and determine the best line of business. 3. Study the field of business that you have chosen At this stage you have made your choice of business field, so then study it seriously, whether it's cost savings, minimizing losses, how to promote, etc. 4. Calculation of the amount of capital needed Make a list of your business needs and their prices, starting from machinery, equipment, raw materials or merchandise, operational costs etc. Next, adjust to your capital capabilities. 5. Determine the location Choosing the right business location will be very profitable, if you choose an online business, make sure your location has a high internet signal, you also need to make sure the courier can easily reach your location. 6. Fans You also have to find out whether the product you are going to sell has a lot of enthusiasts or not. Is your product needed by many people. and determine the target market. 7. Intentional and Passionate As a businessman, you will always encounter obstacles, so you don't need to be pessimistic, look for ways to solve problems. 8. Do Action Never hesitate and be afraid to start. Set a day and date for launching, tell all your family and friends. Give special discount. [/QUOTE]
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