Factors to consider going into business

[solomonmali]

The first you need to think about is what will you offer. What are you going to sell in your business? In general, you can choose to provide the following: service, merchandising or manufacturing.

 

[Kamon c4]

There’re lot of factors that should be considered before setting up a business. All the aforementioned points are very important. The most important thing to consider before starting a business is the available capital. The available capital determines the size of the business. Also you need to figure out the susceptibility to trend. You need to evaluate how your products evolve with possible trends in the future

 

[Pattertwig21]

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

Agreed on the pointers, great list. These are a lot to consider in putting up or starting up a business, and creating a business out of these pointers looks great and answers a lot of possible market demands while giving people a way to make a living. It's a win-win situation for everyone involved.

 

[Hasan Raza]

Prior to going in a business you should be flexible when you have your system and thought emphatically set, it might be hard to recognize the need to make changes. While this is sensible resulting to putting colossal time and energy into making one idea, it's basic to be accessible to changes.

 

[Seun4luv]

To start up a good business you must firstly have A Business Idea. Get to know the knowledge or Expertise about the business. Market or Demand. Start-up costs. Cost and Finance and Location. Staff.

 

[Jlife]

location of a business is one of the first thing you need to consider when you are starting up a business because a location of a business will determine how long you will succeed in a business because we have a group location in an area that is highly populated there's a higher chance of business failure.

 

[Sarfraz Ali123]

Deciding to embark on an entrepreneurial journey is always daunting. There’s no guarantee of success, and there’s no way to be ready for all the obstacles you’ll face along the way. In spite of the many challenges of entrepreneurship, pursuing a career in this field can be hugely rewarding, and in some cases, life-changing.

 

[mubinadaddy]

The factors to be considered first before starting up a business is the type of business that you are going into, the location of the business and your ideal customers that will come and be patronizing you and what you need do in other to keep the customers and more to come without not running out of customers.

 

[Erik4150]

I agree with all the factors you listed. Every entrepreneur or aspiring business owner has to consider those factors before venturing into business. Those are the factors that will influence the success of your business in one way or another.

 

[Ahtsham]

Starting a business is usually an exciting time for majority people. The idea of being your own boss, managing your own time and finances thrills a lot of people. With all this excitement, it is possible for one to just jump into business without prior planning. Lack of proper initial planning can be disastrous to the business owner(s) in the long run when the truth about the business environment sets in. To avoid losses or unpleasant surprises, I have discussed 20 important factors as well as steps to put into consideration before starting any type of

 

[Adexgrace]

Another factor To consider before starting a business is if, the product am about to start selling is really needed in the community.
Ask yourself, it is a competitive product? Is it profitable? Is it fit for that particular society? and others.

 

[Shahid]

But seeing opportunities is just the beginning. The main business challenge is going to be your ability to forge that opportunity into a business idea. I see this as a business challenge because the process of transforming problems into business opportunities is like trying to turn lead into gold. I call it the entrepreneurial process of “Creating Value out of nothing”; a process that brings innovative products into existence. Below is an illustration of how the process goes.

 

[GIFTMICHAEL]

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.

Well you are very correct when you don't know what it takes to succeed in your business definitely it will affect the efficiency and effectiveness of your business. Every business is suppose to flourish and expand whether you like it or not.

 

[shalom]

there are several factors that one needs to consider when one wants to indulge in a business. the location of the market, the competition of the variety of product, the accessibility to market and so on.

 

[Kiko]

A great idea. No business can develop in the absence of a great idea. A great and practical idea is the only thing on which the development of your business will depend. Moreover, as a lot of companies are involved in the market, you need to have a unique idea that stands out. Legal documentation, the next factor that needs to be considered is the completion of legal documents. For the sale of some specific products and services, there are some requirements for the preparation of legal documents. Make sure you have already done all the legal documentation for your business.

 

[Asad Ali]

It is important to know well how the company operates before you go to another company without it, that it will be hard for you to succeed. Also, you will have to carry out a feasibility study to check if your company is successful, who competitors are, what they do and how you can differentiate your business. Above all, how much is needed to start and maintain the company before profit is made.

 

[Irfanali]

Consider the essentials before starting a business

A business idea - call or skill - market or demand - startup cost - capital and finance - committee - lock. Staff.

 

[Ihtsham Raza]

• 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

 

[Tinaconcept]

Factors to consider while starting a business still remains the four most important factors which includes
Capital
Labour
Land
Entrepreneur
This factors are still what are need in carrying out business. The capital which is the fund needed in starting the business is very important

 

[Adeyoola7]

Turn your idea into a plan
Every entrepreneurial journey starts with an idea. But how can you bring your idea to life? Take some time to lay out a rough business plan, and anticipate the challenges you’ll face. For example, if you’re considering creating a networking app for young legal professionals, consider the logistics behind designing and developing the app, and how you will manage to meet the needs of this specific target market.