What factors do you look out for, when choosing a business?

[sincerem]

The reason some beginners have problem with their business midway through, is due to lack of ideas, failed to seek mentorship to determine what they need to do and manage their business.

When starting up a business, a business owner going into business for the first time should look into this;


* Find that suitable location for your business and operate. Not all locations are favourable for all business, carried out your survey first before going into any location.


* Find the right plan for your business, also have a back up plan in times of emergencies.

* Source for capital through savings, earn money working online or offline, and avoid taking loan.

* Master your business before going into it. Don't start business that you don't know about.


*Be passionate for the business. Don't start a business you don't have passion for.

 

[Mataracy]

You are correct with all the analysis you have made . I also want yo say that whenever somebody want to start also one need to considered the accessibility of the business to the customers.
Also one needed to consider the competitors around the place where where one is about to put his business.

 

[sincerem]

You are correct with all the analysis you have made . I also want yo say that whenever somebody want to start also one need to considered the accessibility of the business to the customers.
Also one needed to consider the competitors around the place where where one is about to put his business.

You shouldn't talk about competitors cos they aren't your priorities when it comes to starting business for the first time. If you carry such mindset to think about those dealing on same business with you, you aren't going far with your plans. Business doesn't matter about how many are doing same business, is how far are you to manage your own business and drive sales.

 

[Good luck]

One has to be careful when choosing a business because a lot of things need to be considered,the location is very paramount and important.where your business is located determine the customer or client that will patronize your products and the kind of goods or product you want to be selling is also very important as well.lastly your human resources Manager is very important.

 

[Skysaint]

While choosing a business there are just so many things to take consideration of. You have to make sure the business you would want to embark on is lucrative in your area, and also do checkout for the competition density because too much competitors are never good for business and so many other factors depending on the business in question

 

[btaliat]

There are many factors an intending business man needs to look up to while choosing a business. The first one is that there must be great knowledge about the choice of business that one wants to deal in. Then there should be a right location for this business to attract customers.

 

[sincerem]

There are many factors an intending business man needs to look up to while choosing a business. The first one is that there must be great knowledge about the choice of business that one wants to deal in. Then there should be a right location for this business to attract customers.

Yes, the location, and tge security of the business is also priority too. If an entrepreneur look up to a tremendous location where security is good, and targeted customers are found. Their is every possibility of the business flowing in sales, provided the people there are happy with what the owner is dealing on.

 

[Deleted member 13140]

Well i believe this strategies goes for an offline business, except for one of the tip you gave there that could also be applied for both.

Anyway, it's not really as easy as it sounds, for the past week all i have been doing is get confused and overwhelmed.

Though I think all I need is a plan because I have so much to do, and I can't seem to be able to do all of them at once, so frustrating

 

[Alexandoy]

As the saying goes about business that it is the bridge to connect those in need of products then it is the market base that is most important. When you plan to sell luxury cars then it is silly if your display center is located in the rural area because no one there could afford a luxury car. You have to find the market base for your business.

 

[sincerem]

Well i believe this strategies goes for an offline business, except for one of the tip you gave there that could also be applied for both.

Anyway, it's not really as easy as it sounds, for the past week all i have been doing is get confused and overwhelmed.

Though I think all I need is a plan because I have so much to do, and I can't seem to be able to do all of them at once, so frustrating

You can't do all of them at once dear. You start from one, step by step. Its never easy to run or manage a business. It comes with adequate planning, you must think beyond the human realm. Your business should always be different and unique to attract customers more to increase your sales steady. That's why new comers into business need orientation from an expert business entrepreneur before starting.

 

[Mandy96]

As for me, I think the first thing to look out for is the type of business you want to do, you have to make sure it is something you can sell everyday even if the profit is not much, because people do the mistake of going for high-profit businesses which is usually end up staying without making a profit in weeks

 

[sincerem]

As for me, I think the first thing to look out for is the type of business you want to do, you have to make sure it is something you can sell everyday even if the profit is not much, because people do the mistake of going for high-profit businesses which is usually end up staying without making a profit in weeks

The most common factor that makes one to crumble on his or her business is the fact that, they lack experience for the business they're going into. Of the experience is there, I don't see any reason why the entrepreneur won't stay focus to carry the business far even when unforeseen circumstances is still around trying to halt our progress.