Business is not only buying and selling the products, business is not only provide and sell services and make profits. If you want to do business only to make profit, probably you will not be able to go long way in business path. Most of the startups fail due to lack of knowledge about business process.
Before starting business, you have to find out the opportunities in your area. Find out what people actually need, find out what is the need of your customers. Most of the people don’t try to understand the needs of their market and start business to make their own profit and finally fail. Don’t think about your own profit. Think about the needs of your customer, find out the way that you are solving the real problems of your customers, give a better value to them through your business. There are huge opportunities around you and just look for it. Observe day-to-day life problems of the people and measure your interest and strength to solve their problems. That will be your opportunities to start your own business.
After finding the opportunities around you, take preparation to start your business. Measure your interest, strength and financial stability. Gather as much knowledge about the business area and do make a proper business plan for your business. Be positive and give a better service, products and value to your customers that really fulfill their needs.
One of the most important factor is to your competitors analysis. This is very very important to establish your business and to survive in the market. Add better quality and value to your business more than your competitors are giving to the customers. Because customers always ask better value.
Finding business opportunities is not difficult. Observe day-to-day life of your own and your locality and you can find that there are lots of issues and problems, needs and requirements there. Those are your opportunities. Once you find out the opportunities, try to solve their problems and that will make a good business model for you and profit is it;s normal sequence.