4 Things to Consider Before Starting a Business

how to start a business, things to consider before starting a business

Ozzias Villaver Jr., Ed.D. | Negosentro.com

There are a number of things to consider before starting a business. If one idea fails, keep trying  until you find the right business for you.  There are four possible things to consider in putting a business of your own: (1) personal experiences, (2) hobbies, (3) accidental discovery, (4) deliberate search.

1. Personal experience.  Knowing the nature of the business in mind, you can possibly modify an existing goods and products, improve a service management, and replicate a business in other place.

2. Hobbies. Sometimes hobbies as a leisure turn out into a business venture. For example, the cooking hobby of making candies and cakes, pastries and ice cream, becomes a business from an activity that you enjoy so much.

3. Accidental discovery.  A business concept may come but it may not be too significant for you at the start. However, you will become unexpectedly interested in a business which will give you sound profit.  Many businesses started this manner from a small-medium scale.

4. Deliberate search.  Prospective businessmen are motivated to engage into new concepts of delivering goods and services to potential customers and suppliers.  They will try to look for changed-based opportunities that are certainly useful to many entrepreneurs.

There are three kinds of ideas to start a business.

  1. The ideas which provide the customers with an existing product or service not     available at the market but do exist in other places.
  2. The ideas which involve new technology in providing customers’ needs of new products and services.
  3. The ideas which provide customers with an improved product.
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