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Factors to consider before venturing into a business
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[QUOTE="Shaf, post: 291152, member: 25467"] To ensure you build a successful business and you can figure out what factors can affect it's growth and success, it's essential to have a properly detailed business plan. Working with a new business now, some factors I've seen that affect our success include capital (both immediate and running costs), competition, and the market size and purchasing power. A very important factor is the market size and their purchasing power. You want a market size that is large, and you should have goods or services that can easily be afforded by the majority of your target customers. In this vein, it's also important to look at the competition, since this will reduce your market size. It also makes it more important to have affordable pricing. Another thing to consider is how to make things easier in your business using technology. It not only makes your work easier, but it makes your customers have more confidence in the work you do. [/QUOTE]
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Factors to consider before venturing into a business
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