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Business Ideas Forum
Funding a business
How to determine if you have a profitable business idea.
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[QUOTE="Good-Guy, post: 211905, member: 29109"] I really like the fact that you addressed the issue of cost management in your post. I think that companies should seek good ways to reduce cost without affecting the qualities of the product in a bad manner. There are many companies that focus a lot on cost management and they tend to reduce the cost by using very low-quality raw material or other kinds of manufacturing material to reduce the cost. This can have a major affect on the quality of the product and this also makes the company lose customers quickly. I remember buying mosquito coil from a big brand. However, I have noticed that the quality of the brand was very low. many companies conduct businesses and once their business becomes successful, they become more greedy and focus only on making profits instead of increasing the quality of the product and satisfying the needs of their customers. When it comes to analyzing the success of any product, you must analyze the total demand AND the supply of the product as well. There might be a good demand of the product, but there might be already so many competitors in the market who already have sufficient supply. In that case, I would suggest to offer same products but in a unique way. I think the best way to do that is by providing exceptional discounts. [/QUOTE]
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Funding a business
How to determine if you have a profitable business idea.
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