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Major criterias of starting and managing a well established business
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[QUOTE="funmi, post: 218937, member: 38880"] There are several criteria we must posses before starting a business, we must analysis a lot of factors before embarking on the business venture that we have in mind to do. The first I will like to highlight on is having a very good knowledge of the type of business we want to start. Then we need to also need to take a deeper look at our competitors running the same kind of business we want to start.we need to look out for the weakness of our competitors when we look out for their weaknesses we will explore it and use them as our point of strength. This is a major strategy one can use to overcome and outshine our ones competitors in that way you will be able to manage your businr very well. Another thing that affects a business venture is availability of working capital. If a business does not have enough working capital it will lead to borrowings by such business owner and this will greatly affect the growth of the business negatively. As the profit that was suppose to accrued to the business will be used to settle up both the interest and principal from the loans. Then every wise business owner must consider the location where it hr business will be located as this has a major role to play in running a business. [/QUOTE]
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