In starting a business how can we know that the business you wanted to put up will become successful or not?
Answer:
The bottom line, the very bottom...is that you can't. But you can increase the odds by researching the stability of other such businesses, the trends in that business, mind the cost/benefit analysis, determine your market and zero in on their needs and desires, seek mentoring and have a very, very sound plan. How long can you stay afloat, financially, if things are slow for the first six months? And if the initial concepts aren't working, how motivated and capable are you of adapting to a different concept?
If it's a restaurant, it has a very low probability of success. For any other type of business, consult a crystal ball. Sheesh!
its all risk.. play the game.
Market research ...and or studying other similar buisness's in your area
Once you get beyond the break even point. For most businesses that is about the 6 months point. A lot depends on how canny and conservative the management is.
If you know what you are doing and do a better job than the competition, you can succeed even if others next door are going belly up.
when you start racking in the dough !
There is no way to know.success depends on many factors. Most new startups don't see profits for 2-3 years.
You never know , usually tho it takes alot of money and overhead to make it work. Why not work for a successful company that already established. I am working from home and am doing good, If interested to see how it works , I would love to show you. bowenquarterhorsesandpaints@ya.
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