Things to consider before starting a self employed business

[Mastergp]

It is something to be joyful of when we own our business not being controlled by others and set our own rules and being independent, in my country when you own your business people would respect you because they would think you are rich enough to own a business but still while feeling joyful it would be important t consider what a self employed business involve :first we need to consider the feasibility of the business we want to engage in is it a small scale business or a large-scale business and this will also include the capital involve on setting the business, another thing to think of is the business name and it shouldn't be off from the business one want to set up the consumer is another important part to consider one need to know or identify the potential consumers of your product and watching out for what others people need before we engage in the business that why it is important to buy varieties of product so that our consumers would make their choice.

 

[Augusta]

There are a lot of things you need to consider when you want to start a business it's not just about waking up and pivk up some money to start a new business you might not get it right that way. You have to study some things and try to put it right before starting out .

The first one is to find a good location you need to consider the location you want to use for your business if it will help the business to be viable.

Another is to consider the competition of the business need to look at how you can compete favourably those operating in the line of business.

Another factor to consider is the nearest to market need to find out how here how your suppliers or where you need to buy your products would be near to you so that you not spend so much on transportation.

 

[Sotherefore]

Personally I will consider capital to be the most important factors when I am interested to engage in any business because when the capital is there it will be very much easier for me to plan , organise and established the type of business I am interested . But in a situation in which there is no availability of capital then planning and organising a perfect business may not likely be possible because capital is a driving force that helps people succeed in most of the business , provided customers needs and demands are met.

For now the possibility of establishing a business may not be possible because I have a lot of things to take care of both academically and in other ways.

There are a lot of profitable business that can be established out there but the ability to succeed in these business will be determined by your organisation and dedication.

 

[Shigobad2020]

Starting a self employed business is a good and lucrative business, Most especially if you know much more about the business before you start , before you can start a business as an entrepreneur, you must first have the knowledge and the idea about the business , which we known as business idea and after that you need to work on your business plan by making the research on the business to know much more on how the business works and the amount needed to kick start the business ,
After you have had a succesful business plan , you now need to work on the location of the business because if you have a succesful business plan and a bad location, then the business will be ruined because there won't be any customers to patronize your business if you are in the wrong location , and its advisable to start the business with the amount you can afford and not go into loan ,

 

[Shaf]

Having experienced this, I believe that having a self owned business is not for everyone. It requires a lot of patience, capital, learning and time to work out.

One thing you must consider before being self employed and starting a business is if you have enough funds to both cater for the business and your personal needs for a while. Most businesses take time to get running fully and then some more time to yield profits. If you are dependent on it as a source of income, you would not understand what is happening to your finances.

You should also consider your personality. Some people work better when there is someone motivating them, and some are extroverts who love being around people. Working alone means you become the ultimate decision maker. You also would work alone or a small group of people for a while.

If you can find mentorship, it would shorten the learning curve and save you both time, money and effort.

 

[Muhammad Sadisu Ahmad]

things to consider when a person want to start a business depends upon the kind of business a person want. Here are some of the things to consider if a person want to be self-employed.
1. Study the business: this is the first very thing that a person has to consider. Because the aim of any business is to make profit and a person will not be able to produce the best out of his/her business without knowing it well.
2. Financial status: this is also an important thing to consider after knowing the business you want to get into. A person has to know his financial capacity. That will able him/her to know that, he/she will be able to go ahead with the business or not. So that at the end if the things go the other way round as he/she don't expect, he/she wouldn't be bankrupted.
3.location: knowing where to produce or sell and so also who and who are they going to be my customer, is also the key to consider. This is important because a lot of self employed businesses do crashed. This is possible because some are operating right business in wrong place or wrong business in right place.