The top ten do's and dont's when starting a business

Discussion in 'Articles & Tutorials' started by magician661, Nov 1, 2009.

  1. magician661

    magician661
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    THE TOP TEN DO'S WHEN STARTING A BUSINESS

    1. Live frugally and begin saving up money for starting your business.
    2. Learn your intended business by working for someone else in the same business first.
    3. Consider the benefits of starting a moonlight business.
    4. Consider the advantages of operating a family business.
    5. Objectively measure your skills and training against potential competition.
    6. Consider subcontracting to low cost suppliers if you're manufacturing a product.
    7. Test market your product or service before starting or expanding.
    8. Make "for" and "against" list describing the specific business you are considering.
    9. Talk to lots of people in your intended business for advice.
    10. Make a comparative analysis of all opportunities you are considering.

    Full article here

    I Think the 9th one is very important to start own business
     
  2. scifi

    scifi
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    some good points here...but the key point while starting a business is to follow a approach backwards that is what needs and wants of consumers are catered by your business which will help you to identify your target customer segment more easily.....:)
    Unless you generate sales, no business can be successful and sales are generated when you go 4 acquiring new customers and tries to retain existing ones which can not possible unless you decide target customer segment u'r business intends to tap...:)
     
  3. maahi

    maahi
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    Thanks for sharing this great thread.
     
  4. Navida

    Navida
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    When someone is going to start his business the integral and most crucial step of his business is research on his target market. An entrepreneur should aware of his market trend and from the taste of his potential customers. Before starting any business an entrepreneur should also research on his existing and potential competitor.
     
  5. Navida

    Navida
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    When someone is going to start his business the integral and most crucial step of his business is research on his target market. An entrepreneur should aware of his market trend and from the taste of his potential customers. Before starting any business an entrepreneur should also research on his existing and potential competitor.
     
  6. kimipatel

    kimipatel
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    For any business you will start above all the point is correct. To start business you will careful with the all the department all the finance, target people, cost of manufacture for sale price... people like your product then you will expand your business in other country... People reviews is also most important to know how your product doing in market....... So first is research in market about your product........
     
  7. printingray

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    You'll need to let the people know about what you are doing and you are professional in this field. For this, you have to advertise yourself (your business) which is the most important thing today. It helps the consumer to get informed that whatever new products and services available as well as it spread awareness about your products and services to the potential consumers.
     
  8. harvestllc

    harvestllc
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    Basically, a through planning and analysis is needed to start up a business. One must think out of the box.
     
  9. bfasib

    bfasib
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    According to me Analysing the competitors ( intensity of competition) is very important.

    Because too much competition means too much hard work and planning.

    look for competitors before you start business!!!
     

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