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Business strategy
What are the measures to take in choosing a business
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[QUOTE="Ephy, post: 162398, member: 23353"] Some measures have to be taken before venturing into any business. One has to understand what is a business first. Identify specific locations that have a market gap. Then find out what is in demand and figure out if you can do the supply to market. This will help you come up with ideas that will work efficiently and be able to get hug profits from the business. Your daily schedule also matters, time to open and close the business. Also you should understand you market or clients and be able to know how to communicate with them and attend to them well without complaining. One most important thing is you have to understand how you're going to cope up with the competition around you. Make sure you do your business in a unique ways so that those around you not to beat you and end up making loses or losing customers. Capital is very important, you cannot start anything without capital. Therefore you have to identify where you will get the money to fund the business maybes from your savings, friends, family and even loans. [/QUOTE]
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