7 FACTORS TO CONSIDER BEFORE CHOSING A BUSINESS

For many who have nursed the dream of being business owners, the decisions as to what kind of business they should undertake is often the most crucial. This is because such decisions are often surrounded with fear of the unknown in the face of many alternatives. For you to be able to take the right decision for the right business, the following might be indispensable ingredients or inputs.
This article is not tending to discuss every details of starting a business but given you the hints and things you should consider around you.


1. YOURSELF: Before you venture into any kind of business, the first and most important thing to consider is YOURSELF. This is so because your are the greatest asset of the business. Assess your working experience, skills, talents and more.

2. YOUR LIKES AND DISLIKES: Another important factor to be considered in the choice of your business is personal likes and dislikes. Ask yourself about the business; your contacts or leads to be consulted for advice and counseling and equipment owned for the business operation (if any). By building on knowledge, talents, skill and supplies you already have, you will have a built-in advantage. Check your temperament does it fit into the business your want to venture?

3. YOUR GOALS: Never venture into a business without first of all setting goals for yourself. Goals will enable you to evaluate your performance. Once your goals are set, hold strongly to them if you have to realize your dream of independence and satisfaction. Always have a mental picture of your daily activities, which of course must be in line with your already set goal(s).

4. LOCATION: Now that you have ascertained your abilities and are convinced of your background and goals, the next thing to be considered is where your business will be located. Should it be at your home, online, near your home or far outside? Is the location strategically positioned for business? What is the required space for business etc.

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