Most entrepreneurs failed to have a successful business perhaps because they lacked knowledge in establishin a business. Although anyone can have his own business but not everyone knows how to make it a succesful one. Some people just came up with a product and then sell it to the market later on. No! It's not as easy as that! Therr are things to considerin engaging certain types of business whether it's a manufacturing, trading or servicing type.
Think of a usual product and change the concept and features so that it will stand out among the other brands. And when it comes in naming your product, it must be catchy to the consumers. You have to know who will be your target market so you can also determine the right location of your business. You also have to understand your consumer’s behavior and taste preferences by conducting a survey. Gather and analyze all the datas until you come up with the result. Based on the result, you may enhance your product until you ome up with your finished product. You have to remember that in order to become effective, you must think of the best marketing strategies and techniques that you will apply for you to sell your products. You must have the convincing power!
Engaging in a business is also about taking a risk. There is no assurance of gaining profits. But sometimes it's not always about gaining much profits for other people but rather it's about the satisfaction that it gives them while doing so. Before I end this speech, I challenge you that as early as now, you must start your own business no matter how small it may be. Because big names like Lucio Tan and Henry Sy, they also started from small and they took the risks. Who knows, maybe 10 years from now, you can be better than them! So be courageuos enough to take the risks!