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What do you need to think about when setting up a business be it a service…
What do you need to think about when setting up a business be it a service or launching a product?
Analyse the market
be not first to market
master online marketing and sales
research the demographics
potential customer base
understand their buying habits
keep an eye on competitors
network with similar businesses
browse your competitors’ websites
say something about smb on social media
may have a second-rate product/service
Seek professional guidance
have no experience to speak of
have a steep learning curve to climb
such a way of conducting business
seem highly irrational
that’s not to say
it’s beyond your reach
through a mentoring program
put you on the right track
it’s better to play it safe
focus on something you do know
know inside out
Start small
there is that expression
learn to walk before you run
have aspirations of hitting it big
bite off more than you can chew
ultimately result in
go under
start on a smaller scale
get a footing
gain traction and experience
Delegate responsibility
see their business as their brainchild
be fraught with dangers
take on too many roles simultaneously
buckle under the pressure
it’s worth considering building a team
take on some staff
freelance out some of the duties
Create a logo and slogan
know from personal experience
think up a catchy business name
a slogan not sounding too cheesy or downright pathetic
bloody difficult
the colours all have to serve a purpose
play a distinctive psychological role
support the nature and objectives of the business
hire in some designer
Find the right premises
it’s all too easy
see an empty boarded up shop
think that you can set up a business there
kit it out
make your fortune
many a time
for good reasons
think real hard on your location
you only get one shot at getting premises
wriggle the way out of a contract
Keep your job
advise not to quit your job
have a steady job
go full steam ahead on your business
want to get going
have all your plans ready and a place in mind
about six months with no revenue
there is always something to slow you down
the bank wouldn’t lend
get caught up in government red tape
test your idea before losing the guaranteed income
Set the right prices
rock-bottom prices don't always win
sell a commodity product
with services it can be tricky
learn a lot from your competitors
what type of customers you are targeting
it is difficult to increase prices
low pricing / higher pricing
it is easy to have sales and special offers
suggests increased perceived quality
it’s not just about the actual figure
how your business is perceived in the market place