Factors to consider going into business

[Luckboy]

Self-discipline
This may be one of the most important qualities for an aspiring entrepreneur to have. You are at the heart of your business idea, meaning that you will be the one to hold yourself accountable As an entrepreneur, you’ll have to stick to your business plan, make and respect your budget, dedicate time to developing your business,

 

[Zevin]

Money plays the most important role when it comes to starting a business. You need money to start a business. If you do not have money, you will have to borrow from friends and family or through a bank. When you borrow from friends and family, you may not have to pay interest, however, when you borrow from the bank you will have to pay interest. You have to consider things like these.

 

[solomonmali]

Once you’ve identified what to sell, who to sell it to and where to sell it, now think about how you’ll form the business. You can choose on sole proprietorship, partnership or corporation.

 

[Sotherefore]

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.

yes that is the purpose for which every business was created ,and every business that will not have the potential of a growing should be shut down because anyone that is going to a business is going there to get some profits and as a result solve the problems of mankind.

 

[GIFTMICHAEL]

yes that is the purpose for which every business was created ,and every business that will not have the potential of a growing should be shut down because anyone that is going to a business is going there to get some profits and as a result solve the problems of mankind.

Exactly there is no business when there is no profit in your business. Yeah the truth as you already said is that the purpose for which every business was created is to make profit and maximum more profit.
Any business that will not make profit has to cease.

 

[Philip Omotayo]

The first thing to consider before gojng into a business is that, do you have a business idea. That is meeting a need. Which would in turn gain partronage. Also which location are you looking into. For your market., and is the capital ready for this business. What amount of money do you wanna incurred into this business.

 

[Frank]

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

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It is very important to understand the threats that will face your business. Is it going to be from government policies or threat from competitors? Getting to know this will give you an idea of how to plan your business and work out ways that will help your business grow. A business man that doesn't think about threats to his business will always have those threats staring at his face.

 

[Defaith]

Factors to consider when starting up a business are customer relations, risk bearing and you must be self disciplined, a less competitive location, quality product for customers satisfaction and so on

 

[jimmann247]

All this factors are important, one need to check the location very well and do some survey if the people leaving in that area really lack what you are bringing and if they are hungry for that product or service.

 

[Koredsman]

There are alot of factors to be considered when planning to start a business.
The location, awareness, advertisement, what wi be the usefulness of your product to the public and your aims and strategy of exploiting
[automerge]1613112314[/automerge]
There are alot of factors to be considered when planning to start a business.
The location, awareness, advertisement, what wi be the usefulness of your product to the public and your aims and strategy of exploiting
[automerge]1613112322[/automerge]
There are alot of factors to be considered when planning to start a business.
The location, awareness, advertisement, what wi be the usefulness of your product to the public and your aims and strategy of exploiting

 

[Sotherefore]

Exactly there is no business when there is no profit in your business. Yeah the truth as you already said is that the purpose for which every business was created is to make profit and maximum more profit.
Any business that will not make profit has to cease.

even before you make profit in any business as a business personality you must know that before you can make profit genuinely in any business you must have something reasonable to offer to the people if not you may not likely to make the required profit

 

[abubakar3141]

Turn your mind into a plan. Every business trip starts with an idea. ...
Self-discipline. This can be one of the most important features of an aspiring business person. ...
Be flexible. ...
Follow your passion. ...
Listen to the profession. ...
Find a nurturing environment for entrepreneurs

 

[Olahab]

Passion is the thing that keeps entrepreneurs going through the hard times. If you really believe in what you’re doing, and the project you’re developing, it will make you more resilient and determined when faced with obstacles.

 

[Atiqurrehman]

Turn your mind into a plan. Every business trip starts with an idea. ...

Self-discipline. This can be one of the most important features of an aspiring business person. ...

Be flexible. ...

Follow your passion. ...

Listen to the profession. ...

Find a nurturing environment for entrepreneurs.

 

[sam386150]

There are many factors someone need to consider before moving into business, you must consider the kind of business you want to fall into and the level of your ability into the business, we need to consider that business requires disciplines and commitment.

 

[Anas Chaudhary]

6 Things to Consider Before Starting a Business
Turn your mind into a plan. Every business trip starts with an idea.
Self-discipline. This can be one of the most important features of an aspiring business person.
Be flexible.
Follow your passion.
Listen to the profession.
Find a nurturing environment for entrepreneurs.

 

[Oluwasayofunmi]

With regards to the question on Factors to consider going into business, the first thing to consider is that, is the business you are about to start, is it in high demand? look at the available resources at hand, the source of capital

 

[Prettyjanie]

Before you venture into a business, you have to ask yourself, will people buy what I am selling? This is a huge question you should ask yourself. You can't produce something and there is no one to purchase the items. The amount of capital needed e.t c.

 

[gbadebo9]

Factors to be considered before establishing the business is many. The most factor amongst them s finance, without it no business can established. We have other thing that is also important that has to be together with the finance. It depends on the business to be established for example farming, first of all we need fertile land where to plant the products, also the water have to be considered in order to plant every other season . The last factor is market without it every thing will be in shambles.

 

[Blessedsam60]

A very nice write up. So many factors to consider before venturing into a business. Noe let me chip in this, if you was to start a business you have to ask yourself if you are really ready, passionate about the type of business not just about the money you are going to make.