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Questions you ask before starting product based business
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[QUOTE="King bell, post: 251798, member: 75687"] Are you thinking of starting a product-based business? If so, there are a few questions you should ask yourself before taking the plunge. First, what need does your product fill? What problem does it solve? Be sure there is a market for your product and that people are actually willing to pay for it. Next question you should ask is what is your competition like? How will you differentiate your product from others on the market? This is an important question to answer as it will help you determine your pricing and marketing strategy. Finally, what are your manufacturing and logistics costs? Can you produce your product at a price that will allow you to make a profit? This is an important consideration, as many product-based businesses fail due to high production costs. Answering these questions before starting a product-based business will help you determine if your business has a chance of being successful. [/QUOTE]
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