Before starting business

Discussion in 'Starting a Business' started by businessampm.com, May 15, 2014.

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  1. businessampm.com

    businessampm.com
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    Before starting any kinds of business we must be ensure 7 effective things. Such as-

    - Enough capital
    - Suitable business location
    - Ensure workable business plan
    - Realize local people actual needs, want and demand
    - Properly create advertisement plan
    - Find out smart and brisk employee and
    - Make sure honesty

    Are you agree with me?
     
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  2. Michael Leng

    Michael Leng
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    Oh yes, absolutely agree with you. May I add some fundamentals of that.

    Don't forget to study the case of success and fault from other before jumping to run by yourself too. That will be a very good lesson from real who had been decided to swimming from one of river bank to the other.
     
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  3. Karuna

    Karuna
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    Well there are several other things also one must look into but since you are talking about effective things I would like to suggest couple more.
    -Market research and Competitor Analysis
    -Determine your pricing
     
  4. 2garry

    2garry
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    good efforting staff

    money support
    good risking and analytical skills
    survey in market about your product
    find various strategies to sell your product
    prepare some future plans to make it some large
     
  5. infinityweb

    infinityweb
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    Yes this is true. But always remember that only yourself can make your business into success.
     
  6. Aleena

    Aleena
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    Hi
    I would also like to add some points. It's important to do a little survey as well before starting a new project and a plus point to start a business in which you have work experience will always help.
     
  7. 2parry

    2parry
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    make sure you have enough money for insvestmet and for either back up in case of any loss and risk in the business
    some kind of investigation before starting business and create yous strategies and goals to achieve in your job time
     
  8. boysingh

    boysingh
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    You must have a solid plan when going to start up a business, you must know the ups and downs of your market, you must assure that your product is within the basic needs of your target market.
     
  9. Vishal1

    Vishal1
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    If you are going to start a new business the some things that you must have...

    Money
    experience
    good will
    fame
    employee
     
  10. Aleena

    Aleena
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    I have question is it ok to start a business with loan ? Is it a secure plan or not because in business there are equal chances of getting profit and loss.
     
  11. aronmatt3

    aronmatt3
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    You are forgetting two main areas and those are marketing and market for your business, if you do not have good market for your product that you are selling then there is no use of any plan and even a full proof plan will not work.
     
  12. Evan Hose

    Evan Hose
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    I completely agree with you. Those are the most important factors to consider before starting a business. Many people start upon a business without giving any thoughts about these factors. They may have a great business idea but they forget that it is not enough. Another important factor is the business structure. We have to select the correct business structre that suits our ideas and meets our financial needs. Have a look at this article, it tells us hoe to select a business structure https://www.newbusinessnow.com/article/selecting-a-business-structure-in-canada/
    I think it mentions many important points that an ordinary man may not be aware of.
     
  13. marklee

    marklee
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    yes i agree with you,marketing is the best part for success of any business.We also need take care of our audience or customers who needs your services or products.
     
  14. Gadsubone

    Gadsubone
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    Run a business successfully

    Take the time to assess if you have the right skills to run a business successfully, and to identify any skills you may need in the future. If you don't have the right skills, identify the ones you could outsource or employ someone to look after. A wide range of training resources is available for you and your employees.

    This guide will help you to consider whether you are ready to start a business, and point you in the right direction for further information and advice.
     
  15. lets-build

    lets-build
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    In my opnion, you need to 100% believe in the product or service you are selling, make it the best it can possibly be. Otherwise you'll take a knock at some point and lose motivation.
     
  16. Charles.D

    Charles.D
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    In addition to your post i would like to add some points:

    Yet despite the vast universe of possibilities, there are a few essential steps you need to take before starting a business, any business.

    Do your market research
    Show yourself the money
    Hire a good business attorney
    Hire a good accountant
    Decide on a business name
    Get all necessary licenses and permits

    Thanks
     
    #16 Charles.D, Jun 19, 2014
    Last edited by a moderator: Jun 19, 2014
  17. websiteteacher

    websiteteacher
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    What a great idea! I have never reard of it before. It can be really helpful to avoid someone else's mistakes. Thanks a lot! :)
     
  18. manmohanbkd

    manmohanbkd
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    Ohh yes...I definitely agree with you and will like to add one more thing that do not forget to have some patience as you can expect to rocket fire your business from first day itself.
     
  19. himanshiets02

    himanshiets02
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    to start a business u have capital
    strong willing power
    risk taking ability
    strong anaylitical skills
    last but not least learn from your faliure so that u can convert your failure into sucess
     
  20. Jamie1

    Jamie1
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    I think that the English barrier is leaving a few things out or adding a few things that might not be necessary. For example, if I start my hosting company, I do not care if I have enough people who want the product locally, I can sell the product worldwide. I think that on average, these work though.
     
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