The first thing you need to start up a Business.
Many a times people think what they need to start up a business is capital and then look out for what people always buy i.e their needs.
for instance you are having the plan to go into food business because everybody eats food, well, this is why most people fail in business. Let’s consider this, at list 80% of your present community cook their own food.
Let me ask you, when was the last time you ate from a restaurant? Now outside these factors, there are lots of restaurants around, how do you plan to make sure those customers who patronizes them stops going there are start eating at your restaurant?
But if in that same community, boys find it had to view their favourite foodball teams when ever they are playing a match, then the best business you should start up in that community is a sport viewing center and not a restaurant.
That is it, don’t look for a business, rather look for a starving market. Look out for people’s pressing wants that are not being satisfied at where you are, and then provide a service or a product to meet that want at a cost.
Even the restaurants falls under this, if in your host community, there are companies and stores or a market around, and these people finds it hard to get a restaurant to have launch, then the smartest thing to do as a business person is to provide them launch but for a cost. The main idea here is, don’t just start a business because it is what people always buy, start a business because of a starving want of the people where you are.