Can i?
By liorohu
@liorohu (96)
India
April 15, 2010 9:24pm CST
Please tell me any kind of business that would be successful in future.
4 responses
@louierrific24 (1114)
• Philippines
16 Apr 10
It depends on what field are you good at. You can't just enter a business that you have little or no knowledge. The key in doing business is knowing how the cycle of the industry works. In addition, you should also find a niche market -- potential buyers who will buy, who will possibly buy and who are interested in the product and service which you offer.
I can't really go into the specifics on what business will succeed because people are different what might suit me might not suit you. You'll just have to ask yourself;
1) What field am I good at?
2) Is there a market for my prototype?
3) Is there an existing similar product in the market?
4) What is my edge on my competitor?
5) How long will I reach break-even point?
6) Do I have the resources?
7) Can I offer better solutions?
8) Is my location accessible to my prospective buyers?
9) Will my product stay in the circulation 5, 10 years from now? or is it just a seasonal fad?
10) Am I committed to this kind of work?
Those are just a few questions you need to answer before entering into business. hope it helps.
@p3ks626 (6538)
• Philippines
27 Apr 10
I also have the same thing in my mind. I also wanted to put up some business but I dont seem to identify which business I should engage in that will be successful in the future. I have 3 things to consider, putting up a apartment, get a photocopying machine and have the business near schools and putting up a restaurant. As for the moment, I cant put up a bakery yet so I was thinking of selling them in the school canteen.