4 answers
sabrina
Student
Spanish Fork, Utah
1
Question
Asked
1021 views
How do i make a good business ?
how can i have a good business in the future
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4 answers
Sérgio Cerqueira Batista
Operations - Process Improvement
8
Answers
Lisbon, Portugal
Updated
Sérgio’s Answer
Hi Sabrina,
There are many factors to determine a good business and many different perspectives: finance function will probably say a good business is the one who gives more return on investors; HR perspective will point to a good retention, a great place to work; Social Responsibility can look at the impact the business have on the community, kind of "giving back". A combination of all these and other factors should probably determine a good business.
Now, how to build from scratch a good business, I would say education and curiosity have a important role, resilience and confidence as well. But most of all, in my opinion is the capability to learn from mistakes, look at errors as learnings and not as failures, not being afraid to admit you were wrong. Try, try, try..
Also, you don't need to know everything, and you're not expected to, so surrounding yourself with people with key knowledge is very important
Hope it helps!
There are many factors to determine a good business and many different perspectives: finance function will probably say a good business is the one who gives more return on investors; HR perspective will point to a good retention, a great place to work; Social Responsibility can look at the impact the business have on the community, kind of "giving back". A combination of all these and other factors should probably determine a good business.
Now, how to build from scratch a good business, I would say education and curiosity have a important role, resilience and confidence as well. But most of all, in my opinion is the capability to learn from mistakes, look at errors as learnings and not as failures, not being afraid to admit you were wrong. Try, try, try..
Also, you don't need to know everything, and you're not expected to, so surrounding yourself with people with key knowledge is very important
Hope it helps!
Jill Hays
Supply Chain
8
Answers
Commerce Charter Township, Michigan
Updated
Jill’s Answer
When embarking on the journey of starting a business, it's essential to choose an area that truly sparks your interest and passion. A fantastic article that I highly recommend, titled "How to Decide Which Business to Start," can be found at this link: https://www.indeed.com/career-advice/starting-new-job/how-to-decide-which-business-to-start
This insightful article covers:
- The advantages of launching a business
- Tips for determining the ideal business to start
- A step-by-step guide to brainstorming business concepts
- Networking suggestions
What stands out to me when observing prosperous business owners is their unwavering determination, relentless drive for success, invaluable guidance from trusted advisors, and a deep love for the business they've built.
Read this article: https://www.indeed.com/career-advice/starting-new-job/how-to-decide-which-business-to-start
This insightful article covers:
- The advantages of launching a business
- Tips for determining the ideal business to start
- A step-by-step guide to brainstorming business concepts
- Networking suggestions
What stands out to me when observing prosperous business owners is their unwavering determination, relentless drive for success, invaluable guidance from trusted advisors, and a deep love for the business they've built.
Jill recommends the following next steps:
Rebecca Tang
Banking
1793
Answers
Hong Kong
Updated
Rebecca’s Answer
Thank you for your question. I am glad to hear that you would like to be an entrepreneur.
Have you thought about what industry you would like to start your business?
Below are my suggestions :
1. Think about what you have interest or you have strength on
2. Do analysis on the industry, e.g. competition status, entry criteria, any substitute or alternative, etc.
3. Attend industry related courses and management courses in the college
4. Work in the industry for some time to understand the business model and establish people network
5. Start the business online if possible
Hope this helps! Good Luck!
Have you thought about what industry you would like to start your business?
Below are my suggestions :
1. Think about what you have interest or you have strength on
2. Do analysis on the industry, e.g. competition status, entry criteria, any substitute or alternative, etc.
3. Attend industry related courses and management courses in the college
4. Work in the industry for some time to understand the business model and establish people network
5. Start the business online if possible
Hope this helps! Good Luck!
Siddharth Krishnan
Senior Manager Transportation
46
Answers
Langley City, BC
Updated
Siddharth’s Answer
Background from a education perspective in business such as BBA or MBA would be great to have. Key aspect of Business is courage, confidence, great idea and funding. I would also say work in a start up organization to know the details to start and run a good business.