What business to select, must follow 4 requirement

TopBizHelpTopBizHelp Posts: 3subscriber
edited April 2009 in Selecting a Business
To choose a business, the choice should have the following criteria:
 
1. Something you enjoy and would not mind doing every day.
 
2. It has to be affordable to start and to maintain each month. You need to learn each and every expense needed to operate this business. Your total investment has to be money you can afford to lose, without causing financial harm to yourself and your family,
 
3. You have the skills and knowledge to run the business, to be the key person. At least you will have the time and ability to learn the needed skillss.
 
4. You have the necessary time and emotional energy to start and run this business.
 
Now for most people, these 4 points will knock out most business ideas, but that is ok, as businesses without these 4 points could and would harm you financially and emotionally.
 
As a 25 year successful businessman and consultant, I can help you determine what is the best business choice for you, and what businesses would be a mistake,
 
 

Comments

  • MattThomasMattThomas Posts: 2subscriber
    I guess Craigs point KIND OF includes accounting for demand, but at the same time, doing the market research to determine if there is a market demand for your product, and actually including that as criteria for what business to pursue are two different things.
    So I think we should add to this criteria: "only pursue a business where you have determined there is sufficient market demand".
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