Factors to consider going into business

[Adecyptii]

There Are quite good number of things one has to consider before running a business,first he has to set aside capital,which he can use to start the business.

 

[Kane]

Before going into business you will have to consider a couple of things such as product research and development, competitor analysis and creating a perfect marketing plan.

 

[Ghost1]

All these factor are important to check and verify before citing a business location, all these factors are dependent on the type of business you want to set up. Capital is important as well, backbone of every business.

Very true. I believe of everything capital could be considered as the most important factor. Starting a business without enough capital is very unwise

 

[Ebro01]

I will first consider capital and location of the business. To go into a business I will make sure I have enough capital that will drive the business effectively, I mean for start up. After capital, location is another way that can show or tell the public of what am investing on. For example if am in a major market of a town I believe it will help a great deal.

 

[Godspower]

Very true. I believe of everything capital could be considered as the most important factor. Starting a business without enough capital is very unwise

Capital really matters when considering the factors that will determine how successful a business is. Capital can get you both skilled and unskilled staff and quality raw materials for production.

 

[ElenduFc]

Choose a good location
Type of business
Strategies
Daily investment and returns
Type of product
Creating healthy relationships

 

[Good-Person]

I think you must also consider the demand and supply/availability of the product in the market before starting a particular business. You must also gain some experience by investing a low amount of capital. These are some of the basic factors.

 

[Toyoabasi]

You intend starting up a business, you have to understand all that the business entails.
You have to be sure that it is located in a thriving environment, a location where you have a huge number of target clients.
You have to be aware of the funds required for the business on a long term.

You're right.
Before starting a business, you must have equipped yourself with the knowledge needed to run the business successfully.

 

[Trexxxy]

Very true. I believe of everything capital could be considered as the most important factor. Starting a business without enough capital is very unwise

True. However don't you think one can start with the capital at hand and later look to further invest in the business or do you think you have to have enough capital first??

 

[Ghost1]

True. However don't you think one can start with the capital at hand and later look to further invest in the business or do you think you have to have enough capital first??

There are businesses that would permit starting small and topping up on the way. There are businesses that simply requires everything at the same time

 

[kayode10]

You need to consider the level of competition in the industry you want to establish your business idea. You need to carve out an edge for your business in order to Excel in the marketplace. You must also learn how to woo investors to provide money for you to push your business idea.

 

[Smiles20]

It is equally important that you should consider all these criteria if you want to go into business. You should also consider how close your business is to where you can get all materials ready.

 

[Skysaint]

There are lots of things to consider before going into the business, one is if the business is actually lucrative in your area; the best location for such business and take seriously, the business competitors that's already been into the business

 

[Sotherefore]

There are lots of things to consider before going into the business, one is if the business is actually lucrative in your area; the best location for such business and take seriously, the business competitors that's already been into the business

Nice one, I only consider a lot of things when going into a business, first of all I have to make sure I offer what people will be interested.. most especially in the location I am starting a business. Because without this it will be impossible to achieve success.

 

[Good-Person]

The factors to consider are
1. The problem that needed solving
2. How to solve the problem
3. Location of the business
4. Working capital to set it up
5. The returns
6. Expansion.

Apart from that you must also think about what kind of product you want to sell and do you think that general public will be interested in your product? You must also consider the demand of your product before investing any money.

 

[Wiserr]

That's true.but you also need to include your business location, when starting up a new business you must first have a good business location.

 

[Syldan]

There are several factors to consider before going Into any business. The first thing to consider, is the availability of raw materials, nearest to the market and also the demand for that particular goods or products by the people.

 

[jay]

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 the options that you highlighted here are very important to be observed when you are actually starting your business because when you miss out one it is going to affect the nature of your business progress.

 

[Shigobad20201]

One of the factors you need to consider when goung into a business is the strength of the business and your personal purse in which you are going to use in funding the business.

 

[greenie]

There are a lot of factors one should consider before setting up a business. This may include the customer, the kind of product you wish to sell or service you wish to render, the location and also product availability.