6 семестр / Эссе Setting up a new business

Setting up a new business

Is setting up a new business easy or hard job? What does a man need for realization of own business idea? Let’s try to answer these questions and to think about business activity.

As a rule, people starts their business in order to make profit. They think that they have good business idea – new product, new service or the ones, which are better than already existing. However setting up the new business is very hard job. The success idea is rare event because entrepreneurs usually don’t understand the market. But the ones, who are lucky and clever, have to answer two key questions. Is there a demand for your product, and who are your competitors?

Every business requires much money. If you want to get finance, you should prepare a good business plan. It consists of type of your business, your goals, your product or service, etc. To tell short, entrepreneur have to show his abilities of running business to investors.

Finally, you need a customer base. It’s group of buyers, who will buy you product very often. I suppose that advertising is the easiest method of solving this problem.

Thus, I can say that setting up a new business is definitely hard job. Only some people all over the world are able to do it. Business requires particular skills, knowledge and, of course, to be lucky.