What would you keep in mind to prevent choosing the wrong business idea?

[Starmix]

There are so many businesses we want to happen in real, business online or business offline. And because we are beginners, we cannot expect 100% surety that what we chose is the right business, the right path to keep life better when forsee profit that may eventually boom. To avoid a wrong business, you need to set aside your pride. You have to consult your family, or friends if what you decide is the right business. If not, you will suffer bad consequences if that business does not fit you. First, you have to judge your financial situation and respect your financial need. Ask yourself if there is a need for you to generate income instantly to pay for your necessities. If so then you need much capital and think if it generates revenue in a manner that could give your investment an extended time frame to profit.

What can you say about this issue? Would you allow yourself to choose the wrong business idea? We then look back to the suggestions of others here to do thorough planning first before finalizing the chosen business, or conduct a mini survey or write a brief feasibility study to prove your business n the right track. It is better to be safe than sorry.

 

[Shavkat]

The best option not to fall in this situation is to conduct a feasibility study. It is a core of knowing the business if viable or not.

 

[Golden9]

Getting started right will help you to avoid painful mistakes. A common advice is that you should go with your passion. This is good if what you like actually brings in money. If the demand isn't there, it would be a complete waste.

 

[Springtime]

Conduct proper research to get an understanding of customer needs, market size, competition and capital required.

 

[cherry123]

You need to investigate and research on the business idea you have already and be sure that you are doing the right one you have the skills for.

 

[hastral45]

Before I engage in any business, I would first check if I have passion and skill in it. Then I would need to carry out feasibility studies.

 

[Starmix]

All your suggestions are so strong enough to avoid mistakes in business. It's good to be in a forum for we'll get the brilliant ideas of the members.

 

[cherry123]

Before I engage in any business, I would first check if I have passion and skill in it. Then I would need to carry out feasibility studies.

it is very important to have passion for the business. What keeps one long on a job or business is the drive and passion.

 

[Passiveearner]

There are so many businesses we want to happen in real, business online or business offline. And because we are beginners, we cannot expect 100% surety that what we chose is the right business, the right path to keep life better when forsee profit that may eventually boom. To avoid a wrong business, you need to set aside your pride. You have to consult your family, or friends if what you decide is the right business. If not, you will suffer bad consequences if that business does not fit you. First, you have to judge your financial situation and respect your financial need. Ask yourself if there is a need for you to generate income instantly to pay for your necessities. If so then you need much capital and think if it generates revenue in a manner that could give your investment an extended time frame to profit.

What can you say about this issue? Would you allow yourself to choose the wrong business idea? We then look back to the suggestions of others here to do thorough planning first before finalizing the chosen business, or conduct a mini survey or write a brief feasibility study to prove your business n the right track. It is better to be safe than sorry.

I would consider many things and be really a holistic when it comes to avoiding the wrong business idea in the first place. I will analyse my idea correctly before applying it.

 

[nomad]

While starting a business pay attention to these things, and you will never regret it. Choose a business in the niche you have experience, knowledge, and skills and have the potential to make money.

 

[Starmix]

I would consider many things and be really a holistic when it comes to avoiding the wrong business idea in the first place. I will analyse my idea correctly before applying it.

That is a very good idea, you can surely escape future problems. Those business owners must always think of some possibilities that may happen in their business if it is operated in the wrong way.

 

[eldavis]

I think one thing i would always keep in mind would be my goals. The reason why many people loose focus or track of what they really want or the right business plan is cause they do not have a clear picture of their goal.

 

[Magnus2022]

The worst mistake people use to do is choosing business based on societal ranking than on personal preference. We should choose our business based on personal likeness and passion. If we don't have passion for what we are doing, it will be quite difficult to profit from such business.

 

[Starmix]

There is no wrong business if base it on our passion and concept. It is not good to do business base on envy of a neighbor or a friend whom you see getting richer. It must be based on your capacity and ability to handle big or small businesses.

 

[cherry123]

A bad business is one that is not good for one so to avoid regrets go for a business in the niche you have experience, knowledge, and skills and also passion

 

[Starmix]

It is hard to build a strong business in the absence of the interest of the owner. The business will turn to futility and sooner or later it falls to the ground and may never be revived.

 

[Stardom22]

l don't see any reason whatsoever you should choose the wrong business idea. l would concentrate and stick on my business idea.

 

[Starmix]

There are people who believe the options from others mouths instead of his own and that makes the business owner wrong. He must stick to his plans and moves.

 

[Ratine]

You can do that by being based on the problem solving type of the business models.

 

[Starmix]

Let us always keep in mind to focus what's on our list or plan to avoid a wrong decision of purchases not from other's suggestions.