Factors to consider before choosing and Managing a business.

[Yakub02]

Choosing and managing a business is a critical path of a business strategy. To choose a business one needs to consider what is safe and relevant to invest on. What one is choosing as a business should be a subject of relevance, knowledge and exposure.
As a person I need to consider if the intended business is relevant to my intent and countenance. Considering my knowledge is also important before choosing a business to undertake.
This is because My knowledge, exposure and relevance will definitely determine if the business path I have chosen and the dynamism of my management in term of skill will prosper

For anyone to be successful in identifying business and effective management, one should consider his or her countenance, exposure, knowledge and skills.

 

[Holicent]

There are several factors that you should consider before choosing and managing a business:

• Passion: It's important to choose a business that you are passionate about, as it will make it easier to put in the hard work and dedication required to succeed.
• Market demand: Conduct market research to ensure that there is a demand for the products or services that you plan to offer.
• Competition: Consider the level of competition in the industry and how you can differentiate your business to stand out.
• Finances: Determine the startup costs and potential profitability of the business to ensure that it is financially viable.
• Legal requirements: Make sure that you are aware of any legal requirements, such as licenses or permits, that are necessary to operate your business.
• Location: Consider the location of your business, as it can impact the accessibility of your products or services to potential customers.
• Marketing: Develop a marketing strategy to attract and retain customers, and consider how you will advertise and promote your business.
• Management: Consider the management style and leadership skills needed to effectively run the business, and whether you have the necessary skills or will need to hire someone to fill the role.