Quote from: fullhdpixel on September 13, 2017, 07:45:16 AM

Quote from: dothebeats on September 08, 2017, 10:37:57 AM

Quote from: olushakes on September 08, 2017, 10:30:50 AM

Quote from: Sabar90 on September 08, 2017, 12:13:47 AM

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All you have listed are practically what every business by default knows but at the same time, while some succeeds some others fail and stop existing. Either way, one basic thing to have is understand the need you want to fill as a business inclined individual and clearly state your target market because without these every other thing becomes impracticable.

Of the 100% of businesses, only 5% remains successful as the remaining 95% have already given up and chose to just close shop. The key thing is to first know if there's a demand for such a service/product before starting to build one. That's basically what's wrong with those who closed shop: they haven't researched too much on their target market that's why they ended up in a flop. Also, from what I'm seeing on today's markets, one product goes in trend and many shops market the same product without innovation. That will greatly saturate the market ending up in great competition, so the best possible thing to do is to think of something unique before setting up your own shop. Innovation is a big edge in creating a business, as people would be curious in your product and end up trying it and *might* like it.

I will say consider following things while starting your own business:
   First all study and analyze market for feasibility of your business.
   Then start focus on the things that are most important.
   Advertise your business.
   Find new things to compete others in business.
   Make your decisions wisely and patiently.

I think complete package you just presented here. These are some basics that must be endured and fulfilled with full devotion and hard work so that this will pay you off later. Business is not that much easy but not much difficult too. Do any decision wisely and patiently.