Questions regarding business before establishing.

[Haypril]

We all want to be financially stable, so we tend to start up a business or run into an investment in other to make incomes. But we do fail to meet some certain criterion that is required to excel in our line of business.
The below sentences are some of the questions we should be able to answer before venturing into any business.

1. Will my business be profit oriented or a charity program n
2. What sector will my business be classified into?
3. What problem will my business solve in the society?
4. How does my business generates profit at long run?
These are some of the questions I believe should be answered before starting up a business.
Please share your opinion on what should be considered before starting up a business.

 

[Olajidey]

This is what a good business plan should address in the first place there is no way you will have a good business plan without addressing all that you listed, you have to ask yourself what problem will this your business be solving in the particular place is been establish is the place a residential place or a commercial places.

 

[Georgeadawara]

For you to start a business they are some necessary things you need to now before extarblishing it
1: what type of business are you planning to start
2: why are you staying that business
3: what will be your benefits or profit in that aspect.
4: the location of the business
5: the marketing how can you market it .
6: what kind of challenges will you be expecting..
And many things you need to ask yourself before starting or extarblishing a new business.

 

[Sammyesx]

In starting a business, one has to ask himself critical questions, which are:
How valuable is the business I am venturing into
What is the cost of starting and running the business
What differentiate your business from the competition.
The best location for the business and how to reach your customers.

 

[Haypril]

In starting a business, one has to ask himself critical questions, which are:
How valuable is the business I am venturing into
What is the cost of starting and running the business
What differentiate your business from the competition.
The best location for the business and how to reach your customers.

Your thoughts are very welcome, you seems to have an edge when it comes to business. One of the most valuable point that you have taken time to point out which I've omitted in my write up is the issue of location. Thanks for taking time out to give such a significant point. Location seems to be one of the threat every business face at one point orvtge other. But with this in mind, I think everyone will put it in consideration when starting up a business.

 

[Augusta]

For me when I need to start a business the two questions that will come into my mind would be will my business make a good profit margin? Secondly, would I be able to fight competition? Answering these two perfectly should give me a clear picture of my business model

 

[Hena101]

Whenever it come to business or starting a business there are many questions one need to have answers to them before starting or establishing any kind of business otherwise one will be shock of what the the failure to answer those question is. This questions include
Where to start the business
Do i have a good plans for the business
What product and services do those customers will required.
How long will the production and services will last
Are the product and services I'm providing solving their need
And many more questions

 

[Teatea]

Yes, these questions must be dealt with thoroughly before startup.
Most entrepreneurs make these mistakes, some don't define their stand and end up selling all their goods or services on credit when it is not a charity.
Choosing a niche is important too, it helps you focus more on the growth and expansion of the business, exploring too many fields at the same time may result in error.