4.How do they get to know about our products?Do they buy based on TV adverts,magazines,internet,word of mouth.

5.How does our products satisfy the needs of the customers?

6.Determine the profile of your customers,age,gender,social staus,class,education,attitudes,life style,activities,values,interests,opinions,every information you can gather about them in order to serve them better.

7.Do these customers find price to be more important than quality of products/services?

8.Will they consult friends or family members before making purchase decisions?

However novel or innovative you think your idea is,don't make the mistake of rushing into business.Otherwise,you will rush out.Conduct adequate research,get a pen and a piece of paper and write-down your plan.Remember If a business does not work on paper,it will never work in reality.Hope you all had a cool Sunday?

There is a key to business survival.Does anybody in the house know what it is?I need responses.

Responses please.I'm still waiting.

No response yet!

Business is not a hit and run or Ad hoc thing.Customer satisfaction is the key to business survival.To continue in business,you have to give your customers a reason to keep calling.Give them what they want and they will keep patronizing you.Do the otherwise and they will be gone.

CEOs in the forum,as you go to sleep,ask yourselves,What aspect of your business requires attention?What areas do you need to improve on? Have yourselves a nice night rest.

Answer the following questions correctly and you will never be a business failure.I'll exclude the aspect on customer analysis because I have hitherto discussed them on this thread.

Choose a name for your business.The name should be catchy,short,easy to remember and should reflect the goods or services you intend to provide.

Decide on the structure of business.What type of business do you want to establish?Is it a sole proprietorship,partnership,private or public company?Your decision on the structure will depend on how much control you wish to have in the business,capital and your ability to bear risks.

What is your vision statement?What do you see your business becoming in the future,in your industry,under the best circumstance?What are your future plans for the business?

There are over a hundred answers a prospective business owner must provide before starting a business.Hope you will be patient while I take them one after the other.By the time I'm through,you will be glad you followed.Thanks for your audience.

Good night people,Hope to see you again tomorrow.

What is your mission statement?What is it that your business will do for customers?How do you intend to achieve your vision?

Set goals and state your objectives.What are your short-term and long-term goals?What will you do to achieve them?Your goals should be realistic,achievable and measurable.

How will your business succeed in the market where others have failed?What gives your goods or services a distinctive edge over what competitors are offering?As an entrepreneur,you should be innovative enough to differentiate your products.Yours should not be just another product in the market.

What are your assets?Which asset is the strongest?

What unique resources do you have?

Do you have specific sales or marketing expertise or experience?

Is the location of your business an advantage to you?If yes,in what way(s)?

Do you use or intend to use superior technology in your business?

Do you have a strong relationship with your customers or potential customers?

Do you have positive relationships with your employees?

What areas do you need to improve on?