Factors to consider going into business

[Caali]

Ask yourself if you truly want to go down the business lane. Setting up a business is not as easy as people paint it to be. And business is not for everybody. Business is for strong people, people who can stand whenever they fall. People who can stand losses. Because whether you like it or not, once in a while you will experience losses.

 

[Josh04]

1. YOURSELF: Before you venture into any kind of business, the first and most important thing to consider is YOURSELF. This is so because your are the greatest asset of the business. Assess your working experience, skills, talents and more.

2. YOUR LIKES AND DISLIKES: Another important factor to be considered in the choice of your business is personal likes and dislikes. Ask yourself about the business; your contacts or leads to be consulted for advice and counseling and equipment owned for the business operation (if any). By building on knowledge, talents, skill and supplies you already have, you will have a built-in advantage. Check your temperament does it fit into the business your want to venture?

3. YOUR GOALS: Never venture into a business without first of all setting goals for yourself. Goals will enable you to evaluate your performance. Once your goals are set, hold strongly to them if you have to realize your dream of independence and satisfaction. Always have a mental picture of your daily activities, which of course must be in line with your already set goal(s).

4. LOCATION: Now that you have ascertained your abilities and are convinced of your background and goals, the next thing to be considered is where your business will be located. Should it be at your home, online, near your home or far outside? Is the location strategically positioned for business? What is the required space for business etc.

 

[Niolaxx]

There are so many factors to consider when starting a business,firstly the question you should ask yourself is do I have the experience,if yes then you can start sourcing for capital but if no then don't venture into it at all, without experience there is no doubt that the business will fail, secondly can I handle all the riss and challenges that comes with the business,if yes proceed but if no back off.

 

[Highflyer]

When going into business, there are a lot of factors to be considered such as the capital required, business partners, your target market, etc. All these will be included in the business plan.

 

[EMMANUEL]

Yes, there are several factors that have to be considered when going into business, one of it is:

Discrimination: In business, this factor could be a hind factor based on everyone opinion or mindset towards the business but it is very crucial we talk about it because it kills some business, discrimination could appear to so many in several ways, but in the real sense, practically, when you indulge or your staff discriminates any customer that, begins the starting point of downfall except the situation is look into properly because a human being will always react like one, when you get discriminated maybe due to dressing, speech people feel terribly bad and when they are to give feedback of your product they will definitely add that to it, and that will go long way in the business reputation because obviously they might be evidence in some circumstances, so let be careful in our business.

 

[Patrik]

and also you should be aware of the good and bad consequences in a business, you shouldn't only accept business as a win bringer but as a massive loss sometimes bringer, you should know if you are able to handle all of that or not

 

[Kelvin7656]

Here is a checklist that will give you a list of factors to consider before starting a business:

• A Business Idea.
• Knowledge or Expertise.
• Market or Demand.
• Start-up Costs.
• Capital and Finance.
• Competition.
• Location.
• Staff.

 

[WhiteHouse]

You should consideration the location of your raw materials and also the location of your target market, also you need to get the required tools, machines and equipment needed for the smooth running of the operation, you need a well written Nd detailed plan this will be your guide to success.

 

[Mixi]

There are two methods that we’d recommend for building a business website: using a website builder, or WordPress. The former is suitable for tech beginners, while the latter requires a little coding knowledge.

 

[Sana Diyar]

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

Factors to consider going into business are

• Identify Your Skills.
• Self decipline
• Audit the Market Demand of Your Idea.
• Check for Availability of Resources.
• Work on a Financial Plan.
• Be Ready to Face Failure.

 

[Oluwole]

First and foremost, where to buy goods or raw materials. Secondly, where to sell I mean market and who is going to buy the goods from you for final consumption, these are the important things one have to consider before before invest in business.

 

[Chaudhary10]

You can make a living writing. Yes, it's possible to support yourself by writing full-time. And you don't have to be famous or lucky to do it. I've done it for the past six years and have coached thousands of others through the same process, seeing many of them succeed.

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

 

[lelakil3]

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

This is maybe to the management of the business owner things to consider as this is really the expenses or the required system to be done first as the business starts it should be to ensure to pay all the billings of the expenses of the business and get a savings.

 

[Esther]

In my opinion the major things to consider when going into a business includes, start up cost, capital, competition,location ,staff, knowledge or expertise,market and demand and most importantly a business plan. All these things are very important to be considered when starting a business.

 

[Heatman]

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

There are so many factors that one should consider before jumping into any kind of business and they are for me, capital, location and market. If you don't have the capability to get the capital needed to start the business you want to, there is no need working on it at all. The location is very important because it determines who buys and not buy from you and market is your business customers, if you are not familiar with them, you are not yet ready to sell.

 

[Setfragil]

Before going into any business the factors to consider are numerous. The first thing to consider is capital, before you start any business you want without capital a business cannot start. The capital also goes a long way in determining how small or big a business will be.

You also consider the market, if there are existing markets for the product or business you want to go into. You also consider the location you want to set-up the business if it is right for the busines for people to patronise it.

 

[Sotherefore]

You must consider the amount of money you need to use to start up a business as that should be the first consideration and another thing you should consider is the location of the business because that is another important factors if you want to succeed in a business.
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You must consider the amount of money you need to use to start up a business as that should be the first consideration and another thing you should consider is the location of the business because that is another important factors if you want to succeed in a business.

 

[adeniji]

Intreast of people in the type of rhe business that want to be exstaplished must be consider. The sweetable and comfortable location for custormas must also be consider. Cleaning and parckaging must also be consider.

 

[btaliat]

Truly you have listed all the factors needed to start a business. But you don't mention passion. Passion will drive you towards starting the business and money which is the capital will help in implementing the projects. Other factors listed are okay by me

 

[Azhar119]

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.