Question by jthom5548: How do you start an online business?
i was wanting to start an online based business selling military/police and hunting equiptment….how do i get started?
Answer by Muga Wa Kabbz
The first thing to ever do before you start a business is market research. There is no point of start a business if it is not going to bring in positive cash flow and profits.
You want to make sure that you have a market that is going to buy your stuff. Esp. a market that is interested in hunting/law and order gear etc and also uses the online market place.
You also want to know who has marketshare and what % of the market they control. Afterwards, then you can thing about getting advisors, a business plan, your systems set up/tax/trading structures and financials forecasts/financing/capital.
Then, think about and come up with realistic estimates for your financial forecasts for a cash budget, forecast for financial position and forecast for financial performance of business for at least the first year, then the next 3 years. Finances last because good money always follows a good manager, good plan and a good-efficient business system.
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