How do you start any business project?  

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readerofbooks | College Teacher | (Level 2) Educator Emeritus

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It is great that you want to start a business. There are several things you should consider before starting. Many businesses, as you probably know, fail on account of the lack of planning. In light of this, let me offer a few points of advice.

First, you need to know the market well. Ask yourself, if your business will provide a product or service that people want. If people do not want it, you probably will not succeed. Customer demand must be there.

Second, you need to know who your competitors are. Can you beat them in important ways? Can you offer a product or service for a better price? Or is the market large enough that you can co-exist with your competitor?

Third, you have to consider logistics. Can you get your service or product? If you cannot, your business will never get off the ground.

Finally, you need to be realistic in terms of money.  Do you have the money to start things?

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