"Don't let the fear of failure be greater than the excitement of success."
There are both advantages and disadvantages in starting a new business from scratch:
- Lower start-up costs - Depending on the type of business you start, costs may be lower than a franchise where there is no up-front purchasing fee or supply costs
- Independence - You make all decisions and create all business systems
- Site selection - You choose where to locate your business and what marketing procedures to follow
- No baggage - There is no history to overcome when you start a new venture
- High commitment - Starting your own business requires a higher commitment of time and energy
- High risk - Success depends totally on you and your business talents
- Delayed profitability - Where the market may not already be established, it may take longer to become profitable
- Limited financing - Financing for a new business is more difficult to obtain.
Ever have a business idea but do not know how to start up a business or do not have the funds? Or do not know whether your business idea will generate the returns that you desire?
P&G Business Consulting is willing to partner with you in assisting you to set up your own business. We can assist you to conduct market research and investment appraisal to assess the profitability of the business before you set up the business. Contact us to discuss your business idea.