Before dive further into this topic content of this part, you might need to refresh your memory with previous Post of this same topic. Refresh Memory HERE
3 DO A FEASIBILITY STUDY
The third step to starting a successful business is to do a feasibility study before investing a dime in any business opportunity. This is basically where the failure of most entrepreneurs Begin. I have seen people invest in a business idea or opportunity simply because a friend or relative said the business is profitable.
Entrepreneurship is all about risk taking but jumping into an industry without an adequate knowledge of its fundamentals is suicidal.
4. UNDERSTAND YOUR MARKET
Every business has an inside secret and if you must succeed; you must find such secret. Understand the market of the industry you are going into and you will increase your chances of success.
Who are the customers? How do they want to be served? Who are your major competitors? Who is the market leader? Do you have a chance for survival?.
Ouch!! , we shall continue this topic content in our subsequent post but to enjoy your entrepreneur journey or CEO’s dream, kindly don’t forget to reach us via our contact means.
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