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Business Start-Up from Scratch - Essay Example
Pages 9 (2259 words)
Name: Professor: Course: Date: Business start-up from scratch How to start a business from scratch Although starting a business from scratch is risky, it is one of the most satisfying feelings. It is the dream of every entrepreneur to start up and run their own interests…
Smart thinking should be employed in order to have potential for growth (Marinel 5). Factors to consider when starting There are various factors to consider before starting a business. One factor is the area of expertise and knowledge. The entrepreneurs must come together and evaluate the level of expertise in providing the good or service they intend to market through their business. For a business to be successful, the business partners must have some experience in the field in which they want to invest. Many businesses fail due to lack of knowledge. The exposure could come from employment in other companies or organizations offering similar products or services. The knowledge should be reinforced by research into the prospects of the product faring well in the market to avoid frustrations. Every niche of a business requires a specific set of skills and, therefore, some require more expertise than others. The knowledge should be coupled with the desire to succeed. Many starters fail in business due to diminishing passion once they face hardships. The people who want to start the company must, therefore, have a culmination of passion if the business is to take off the ground (Marinel 5). The second factor to consider is the market and demand for the product. ...
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