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Which Is More Important When Starting Out In Business?

(@starlight)
Estimable Member
Badge Earned
Points: 375

When starting out as a new tech business, one of the most common questions that entrepreneurs have to ask themselves is whether to prioritize profitability or growth.

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Topic starter Posted : 20/02/2022 12:48 pm
(@barbierivera315)
Trusted Member
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Points: 320

Here are seven essential things to remember when starting a business.

  • Don't over-complicate your concept.
  • Focus on the market instead of the product.
  • Always overestimate costs.
  • Establish a support team.
  • Always assess your business idea.
  • Understand the commitment behind starting.
  • Generate income as soon as possible.
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Posted : 20/03/2022 2:00 pm
(@starlight)
Estimable Member
Badge Earned
Points: 375

Five things every first-time business owner needs to know before getting started:

  1. Do you have a formal business plan? If not, you need one.
  2. Don’t assume being frugal is the right way to spend.
  3. Identify the right partners.
  4. Get to know your customer before you start.
  5. Don’t skimp on marketing.
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Topic starter Posted : 11/08/2022 2:46 pm
(@thon_em)
Estimable Member
Points: 410

Important When Starting Out In Business?

  • Determine Your Business Concept
  • Research Your Competitors and Market
  • Create Your Business Plan
  • Choose Your Business Structure
  • Register Your Business and Get Licenses
  • Get Your Finances in Order
  • Fund Your Business
  • Apply for Business Insurance
  • Get the Right Business Tools
  • Market Your Business
  • Scale Your Business
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Posted : 30/10/2022 1:54 pm
 Elzz
(@elzz)
Eminent Member
Badge Earned
Points: 210

Fundamentally, deciding between prioritizing growth or profitability as a startup business comes down to how much capital you have already. 

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Posted : 30/12/2022 12:40 pm
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