Business Ideas How do identify profitable business opportunities?

[Bookwormlux]

Before you go about starting your business, you have to bear in mind that it is not just about opening one but being able to profit from it like you really expect to do .
Most intending business owners really do not take this into consideration and this makes them to get frustrated easily when they realise that they're putting too much effort but , when it is compared to the profit that they are making there is nothing to actually write home about .

This is why I want us on this thread to share what are those factors that need to be considered before identifying a business of opportunity that is going to be profitable for a very long time .
Some of these factors are :

- Try and make sure that the business you are getting involved in is not saturated at the time of you going into it . This is because doing so will go a long way in making it difficult for you to be able to get the large number of patronage that you would ordinarily need .

- Look around you and make sure that that service you are rendering is an existing problem of which your business is going to serve as a solution to it.

 

[Ithedicious]

I think the most important thing that will help us to determine the best business opportunity is not to go into a business that is saturated just like you said most especially at the early start up.. it will even be better for the business to saturate later after you have established because at this time you must have built up a good reputation and you may not likely lack someone who will patronize you in the area you are concentrated.

Different location are suitable for different business and that is what we have to understand. Some location will be profitable if you are establishing an industrial business like selling of raw materials for industries while some location may be suitable for establishing of business that deals with finish goods..


But whatever the case maybe it is always suitable for us to choose business that will not make us compete so much with people for clients. It's won't be easy.

 

[Seith007]

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