MARKET DEMAND AND RESEARCH
Market demand is one of the first factors to consider when starting a business. Do you know if there is a need for your product or service? Conduct thorough market research to understand your target audience, preferences, and the competitive landscape.
UNDERSTAND THE RISK
Of course, launching a new business venture will always involve a level of risk. Calculating, understanding and planning for risk is an important step to take before you start working on your business. This means assessing your industry’s risks before developing a business plan.
PASSION AND PERSISTENCE
Starting a business requires passion and persistence. It’s essential to have a genuine belief in your product or service and the drive to overcome obstacles and setbacks.
UNDERSTAND YOUR OWN STRENGTHS AND SKILLS
When running a business, know when you need to engage an accountant, lawyer, marketing specialist, web page designer, or other professional.
UNIQUENESS
Leadership Newspaper
