Apart from working a job for monthly salary or allowance, you may want to have your own business, raise your own profit and as well employ others. Being an entrepreneur is actually preferable because you will have a lasting impact on yourself and others as well as your society. In this discussion, I will bring up briefly, the most important things you should consider in setting up a business.
The first thing to do if you are planning to setup a business is trying to look around your environment to discover the niches that are selling and profitable. This requires a rigorous market research over quite range of areas. This falls into market visibility studies to know what you will venture into, how you will venture into it, and who will be your potential customers or clients. Read more...
This aspect involved your personal qualities re-examination. In this aspect, you have to consider what you can do most, the training you have acquired, the craft you have learned, the motivation and of course, where you can function most. Read more...
A hobby is a regular activity or interest that is undertaken for pleasure, typically done during one's leisure time. According to research, people like to do what they like. A lot of people had made it in life; earn thousands of dollars every month from businesses originated from just hobbies. Are you an internet surfer, if so, make money from the internet. Check around what you do to derive pleasure and learn to earn from it. If you don’t know how to figure it out, contact us, tell us your hobbies for direction and ideas. Read more...
4. An Advancement in Technology
In the 21st century, we have experience a rapid growth of technology across the globe. This development has leverage a lot of businesses. Also, has brought business opportunities to many. Increase use of machinery in production instead of humans, increase development in information and communication technology (ICT) and lots more. Now, consider which area to venture into, is it opening machinery maintenance facility? Is it making use of ICT? All is left for you. The opportunities are there? Just look around.
5. Be Vigilant to Monopolize
Most successful entrepreneurs ventures into business areas that very still virgin and virtually still untapped. There are also business areas that the market cannot be saturated however people ventures into it. A typical example is agriculture. This is because, products from farm, apart from serving as food, has also been a source of raw materials in various products production lines. There are several ways to get involved in this niche, either in the main farm production, personnel, management or marketing. This is really a good idea.
Thank you for reading. Do not forget to share your views and comments.
