Everyone want to have a own business. Sometimes people do a random action without thinking first.Which causes their business can be survive in long time
Before entering into any business I recommend you always prepare a business plan so you have a roadmap to get you on the right path. Here are five areas to consider before going into business:
1. Something You Are Passionate About
The starting point of any ideal business is, was, and will ever be passion. What are you truly passionate about? What do you love so much that you’d do it for free?
2. Specific Market ‘Super Niche”
Find a super niche in which your business can be exclusive to your target audience. The difference between a niche and super niche is further defining the needs of your target audience. For example a niche is: A eco friendly clothing company. An example of a super niche is an eco friendly clothing company just for new born babies.
3. Low Start-Up Cost
Having a low start-up cost means you can use your own money to start the business and then bootstrap business growth out of business income. You won’t have the cost of financing weighing you down, plus you don’t have to worry about pleasing investors.
4. Low Fixed Costs
There are two types of costs in a business: direct (or cost of goods) and indirect (fixed costs). Direct costs are the type of costs that occur when you sell the product or service. If you didn’t have any customers, you wouldn’t have this cost.
5. Deep Funnel
Picture a vertical funnel-wide at the top, narrow at the bottom. The top of your funnel is where your prospective clients enter. They get a great taste of your business (information, special introductory offer, trial period, etc.) for free or very inexpensively. Once they’ve experienced the value you deliver they can buy from you an increasingly richer and richer selection of products or services.
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