Questions You Should Ask Before Starting Your Business.
Everyday, I observe business people and deeply appreciate the fact that people engage in a legitimate means of survival. I am usually fascinated by how far people can go to ensure they earn a living. At times, I come across people who sell stuff that I most likely would never have anything to do with. And I find myself wondering why exactly these people have chosen to sell these things. Is it that they just love the items they’re selling? Or is it that they don’t want to enter a competitive market by selling what everyone else is? Or is it that the desire to make money just exceeds the need to consider the market well? I just may never know.
I believe everybody who wants to start up a business or who is looking at providing services should ask themselves vital questions like:
-Who will buy what I want to sell? Business isn’t just about selling what you like to sell or selling what you think will sell. It is selling what people will buy. And I know you’ve heard that you shouldn’t go into business for the money but trust me, nobody wants to be in a business that’s gulping down all their costs and giving them close to nothing in return, unless it’s a charity organization.
-Where are the people who want to buy what I want to sell? If you’ve sat down and considered the above, then you should make the effort to know where your buyers are. Are they on a street? Are they in a big market? Oh, are they online? Find these out. This would help you in getting to know how to get your market to your consumers. It is also vital to know that something that sells well in Abuja may not sell in Lagos.
-How do I get my market to people who will buy it? Now that you know who will buy your products and where they can be found, how can I get it to them? If they’re online, you definitely would have to invest your resources into social media marketing. If they’re offline, you should develop a plan to either be located close to them or make arrangements to make it available to them if you can’t be physically close to them.
Of course, building and establishing a business definitely requires more than this on a larger scale but for starters, I believe this would help.
What other questions should every business person ask before launching out? Please comment below.