What Is The First Thing To Consider While Starting A Business?

Discussion in 'Starting a Business' started by Sara Hopkins, Feb 25, 2018.

  1. Sara Hopkins

    Sara Hopkins
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    For me, making a final decision is the most difficult part in deciding for a business strategy. Thinking if that decision lands me in the right spot. And if it would help me in getting any profit. I have searched for platforms to help in this regard. Anyone else consider it a hurdle in starting a business?
     
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  2. Simon_G

    Simon_G
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    The first thing to consider would be whether you have something that people want, whether that be a product or service.

    Then, after you have that, you need to work out if they will pay for what you have.

    Without either of these, you have no business.
     
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  3. fisicx

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    There is never a final decision. There are just an endless stream of decisions throughout the life of the business.
     
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  4. thebigproxylist

    thebigproxylist
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    Hey there. That's an interesting question!

    Starting a business is a complex process so I'd recommend to take your time to study the field before you dive in. In the initial phase of your business, you'll likely notice a very slim profit margin so it pays to invest in yourself first.

    Understand the basics about the business - check the demand for what you intend to sell, analyze the present competition, know your financial ability to support the early stage of development and hire the right people who are willing go over the call of duty to achieve the same mission. :)

    Research. Think. Plan. Execute.

    Then work in becoming the best value in your niche. Provide a level of service the customers couldn't get elsewhere and you're on sure way to success.

    Good luck! :)
     
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  5. fisicx

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    It doesn't have to be. If you want to wash cars all you need is a sponge and a bucket and start knocking on doors.
     
  6. ktransferllc

    ktransferllc
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    Great answers, and I would only add that whatever you decide to invest your time (type of business) it should be something you actually enjoy as in looking forward to it; otherwise it can drain you.
     
  7. Infoexposure

    Infoexposure
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    What kind of service can you give that would be different from what is already in existence
     
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  8. Sourcing Agent

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    We think products would be the first thing we should consinder as a products sales.
     
  9. Daniel Jameson

    Daniel Jameson
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    First thing to start your business is gathered all information related your business. You should contact to business service provider. They will guide you properly and help you in business startup.
     
  10. Paycron

    Paycron
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    1. Do your research - You want to make sure you understand the industry you'll be involved in so you can dominate. No matter how unique you might think your business idea is, you should be aware of competitors.
    2.Take care of the legal aspects - One of the first steps you should take in starting your business is choosing its legal structure. The most common structure is a limited liability company (LLC) because of its flexibility and the protection it provides owners from personal liability.
    3. Map your finances - Starting a business requires money that you likely won't have right away, which is why it's encouraged to seek capital.
    4. Hire help - Starting a business should not be an independent journey, no matter how tempting. Hiring help along your journey will set you up for success.
    5. Make your business outgrow with merchant services - With happy customers who are allowed to make the payment the way they want, you can outgrow your sales and traffic,to make the best out of your online business, the best thing is opening a merchant account.
     
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  11. MichelleA

    MichelleA
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    I've started more businesses than I'd care to admit. In my experience, it's a bit like driving through a heavy fog where you are only able to see a few feet in front of the windshield -- you don't know what's up ahead until it's upon you. However, the longer you are an entrepreneur, the better you can navigate through that fog.
     
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  12. Olivia Caitlin

    Olivia Caitlin
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    Surely Making the First decision is the Most difficult thing because you don't have idea about the people interest. one you are into the market gradually you know what people like and how difficult the Market is. But If you are confident about your product and targeting the right audience then you don't need to worry. Because good things take time and people will slowly develop their interest.
     
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  13. Bella Garcia

    Bella Garcia
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    We need to consider the business idea of what product or service we would like to sell. I thing this is the most important thing when starting a business. Of course you wanted to know what is your like and your passion you can get ideas out from it.
     
  14. pooja joshi

    pooja joshi
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    Hello.
    Running a business needs a great idea and also a well made business plan.
    many don’t understand that mismanagement of money could even cost them more than any other mistake they might make.

    You will have to make sure that you either learn yourself or you use professional accountants or an accounting software to manage your financial transactions. Know where you stand, and then modify your position accordingly.
     
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  15. Matt Bertram

    Matt Bertram
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    In the book Ready, Fire, Aim by Sean Pratt. It talks about selling should be your top priority from 0-1million.

    You have to think about what your selling and where those people will be hanging out. Facebook and Linkedin Groups are great for networking all around. It's like one never-ending cocktail party!

    To answer your question better you need to consider really doing some research or even a SWOT analysis of your market. Different platforms are like different channels on the TV, you tune in for that type of info. Ecom is different that B2B so it will depend. Also you will need a slightly different approach for each.

    With all that being said, my best advice to you is to pick 1 or 2 platforms that you can really commit to daily or weekly and then stick with those and get involved in the community and developing relationships and creating influence like you would do in person if you are in person. Share relevant and useful info that someone considers your type of products or services would want.

    If you are looking for added benefit consider: G+, Twitter, Facebook or Pinterest as they all get indexed by Google so it will help with SEO as well.

    Hopefully this helps! If you are looking for more tips you could check our podcast on iTunes as it's gear towards all small business owners:
    https://itunes.apple.com/us/podcast...ecrets-of-internet-marketing/id303672420?mt=2
     
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  16. abdulkaddir

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    The first thing in finalizing any business is to check the scope of the business as if the business is not of long run then there is no need to waste time on it. Even in my words a short run business cant be even called a business. It should be called just an investment.
     
  17. Salifu

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    you will not get anywhere if you don't take a decision and there is never a fail if you do. If things work out, you will be smiling to the bank doing what you love and if things don't work out, you would gain experience with which to try your new venture in life. Life should not be at a stand still and don't expect to make a final decision because circumstances keep changing.
     
  18. VPSnet

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    Hi Sara,

    Well first thing, i would say the Idea and the Plan, every good idea you have, there are hundreds of people out there who have the exact same idea. Creating your business plan at the beginning will help guide your vision and direction as you continue along you entrepreneurial journey.

    Good luck with Your goals
     
  19. Jacob Hawkins

    Jacob Hawkins
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    If you want to start any type of business, you have to contact with business service provider, who can quick, best and budgeted solutions, Take your vision across the borders.Reduce your tax burden and legal obligations and Streamline your activities.
     
  20. Sayedul Mursalin

    Sayedul Mursalin
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    I think before starting a business a perfect plan and a strategic structure is very much important. The market is huge, and the variety is also huge. To cope up and sustain with the market creativity and structured business plan is a must.


    Is it possible to run a business with ideas only and without planning?
     

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