Over the years business has been described as merely buying and selling.
Actually, business is much more complex than the above definition.
The idea for a business includes basic information such as the service or product, the target demography and a unique selling plan that gives a particular business venture comparative advantage over others.
Things to consider when selecting the Right Business
Aside choosing a business one has flair, talent and desire for, other variables to consider includes;
1) what do people want to buy, the products or services to render
2) who are the buyers or who need the services
3) Do I have the skills, have I developed interest and experience in what I have chosen.
4) Taking cognizance of the Marketing Mix, 4Ps, 8Ps etc.
Product, place,price, promotion, people, physical evidence, process and productivity .
Understanding the marketing mix and applying them will allow for ” ease of entry” of what we sell into the market.
5) How do I get capital to invest in the chosen business.
Can I afford it?
Should I go for a loan? What of the bank interest?
6)Market Research to test what we have chosen and learn more about it.
7) Decision; take decision and start.
We at Mercy wave Foundation encourage you to make haste while the sun shines,no procrastination.
If you have a business plan, why not come forward let’s see what we can do together.
Posted By: Jessica Onyike