Factors to consider going into business

[Genialboy]

All this factors are very nice when you consider this factor your business will definitely move forward. Nearness to market is one of the most important factor to consider. If your business is near to where you can sell your goods and services definitely you will start your business there.

Thanks. Gift Michael

 

[nasiusman95]

Turn your idea into a plan. Every entrepreneurial journey starts with an idea. ...
Self-discipline. This may be one of the most important qualities for an aspiring entrepreneur to have. ...
Be flexible. ...
Follow your passion. ...
Listen to the pros. ...
Find a nurturing environment for entrepreneurs

 

[miztersam]

There are many factors to consider before venturing into any business first have the Business Idea have knowledge of the business may be from those who are into it or get ideas on internet, read the market demand and competition ,have ur start up capital and get a gpod location

 

[Fatima]

What are the factors to be considered when going into business y some if the factors I think are appropriate to consider are one the reason for the business what problem can the business solve and who are my customers

I agree with this point by @Damismiling , some factors on this regard should be critically examined, the profit, lesser work. You must always prioritize your customers

 

[Damscooguns73]

Concerning the factors to be considered before starting or going into a business. Well, all the point are well stated. One thing an individual should have in mind is how relevant will that business be within the area he or she is, is the business going to be a major problem solving business because If it is not, such business won't gain patronage

 

[Genialboy]

There are four main factors to be considered when going into business are Business space, Capital, Labour and a Manager.
Before you go into business, you must have and office or at least a production space. There must be employees to carry out tasks, you have capital to fund the business before it starts getting profit and a manager must be employed to coordinate the activities of the business in your absence.

Nice one,but wen considered a manager, it should not be any person, he should be a person with basic managerial skills, and have the technical know how about the business in view

 

[Veetos12]

The following factors should be consider before venture into any business,basic infrastructural development needed for the day to day running of the business ,such as electricity, good road network,.
.Nearness to raw material needed for the business.
.Nearness to market.
.customers needs.
.strength of the business.
.threat to the business.
.opportunities for the business to excel.
.weakness of the business.
.competition.and
Financial strength

All these factors are supposed to be considered before a business can start. Environment and capital are the major factors to be considered because environment will determine if there is good network and accessible roads. Also a market for the product is very essential before production.

 

[Psalmseen]

There are lots of factors to be considered before starting business . number I don't know. First thing I'll say is that the owner must determine what kind of problem does he want to solve. Is it beauty or food. Because any business you wanna go into must be capable of solving a problem

 

[Milz]

With the inception of online business I don't think nearness to market matters. I believe the first thing that should come to mind is what the customer needs. When that is known, then a major problem is solved. Self discipline plays a major role in shaping a business.

 

[Genialboy]

All these factors are supposed to be considered before a business can start. Environment and capital are the major factors to be considered because environment will determine if there is good network and accessible roads. Also a market for the product is very essential before production.

All these factors are supposed to be considered before a business can start. Environment and capital are the major factors to be considered because environment will determine if there is good network and accessible roads. Also a market for the product is very essential before production.

Thank you.But I mentioned financial strength. While the basic infrastructure I mentioned as to do with environment.

 

[Victor001]

To go into business, you have to consider the base location, the seasonal performance of the commodity, how is the demand rating like, try to measure the consistency level. Try to calculate alternatives incase of nrgativity.

 

[Koredsman]

There are several factors needed to be considered when going into business, of which some are; capital to incur, when will the profit start coming in, nearness and awareness and how will your product be useful to the society

 

[GIFTMICHAEL]

Turn your idea into a plan. Every entrepreneurial journey starts with an idea. ...
Self-discipline. This may be one of the most important qualities for an aspiring entrepreneur to have. ...
Be flexible. ...
Follow your passion. ...
Listen to the pros. ...
Find a nurturing environment for entrepreneurs

You are also correct these are important factor as well. Self discipline is very necessary in business. Before going into a business we need to discipline ourselves and know that spending money unnecessarily especially business money is not good enough.

 

[akinlolu99]

You need to truly get ready prior to beginning your business, comprehend your business, plan for it and afterward pro It. The main thing is what is your motivation of beginning a business, who are your intended interest group, would they say they are youth or grown-up or youngsters are the nearer, that is vicinity, is your market a long way from the or near them? You need to consider he market structure, you additionally need to consider your rivals are they giving out similar items with a similar value look at those things.

 

[Sotherefore]

You must consider a lot of things before you think of going into any business you want to go into because they will give you an understanding of the challenges you will meet in that business and things to consider as a new business manager is the location of the building the population and so on.

 

[Adesuwa]

This are the factor you need to consider before you venture in to a business.
1. Customer need
2. Weakness of business
3. Threat of the business
4. Strength of the business
5. Availability of electricity
6. Competition and financial strength
7. Good Road network
8. Nearness to the market.

 

[Marfav]

When you go into business, there are many variables that need to be considered, one of the reasons is that you need to have a clear understanding of how the business works, without it being impossible for you to succeed in the business.

 

[Kiko]

Starting a business is usually an exciting time for the majority of people. The idea of being your own boss, managing your own time and finances thrills a lot of people. Type of business, after determining whether you’ll do the business on a full time or part-time basis, you will have to decide on the type of business to start. Location of the Business, location of a business is an important element before one starts the business.

 

[singlej007]

That's it, every factor of a business need to be check before you think of venturing into the business, the advantages and disadvantages involve in the business, expected challenges to be faced in the business etc.

 

[tyrim88]

In addition to the above mentioned factors,having a good and sound managerial skill to manage resources to aid the business growth would be a plus to the business.Having a sound investment forsight to know where to channel resources into is another important factor