Evaluate Your Surroundings

Is now the right time to open the business that you want? Honestly, we all  want to have our own business and be financially stable immediately. However, as  entrepreneurs we have to consider what the  current market looks like for that particular business.

 For example, when the housing market crashed, that may not have  been the best time to become a realtor.

Research what others are doing in your field. Who will be your competition?  As an entrepreneur you have to think about every aspect of a business because  you are now no longer an employee but a business owner. Evaluating your surroundings is  critical to your success.

• Where will your business be located? (If you are providing a product)
• Are there other businesses like yours in the same area?
• Are your customers near you?
• Do people want the service/product that you have?

Taking the time to evaluate your surroundings will be beneficial in the long  run. It will help you develop a great marketing  plan and it will position you better for understanding your  business. You will get the answers to the following questions:

• Is the market ready for a business like yours?
• How many competitors will you have?
• Can you afford to compete with your competition?

Answers to these questions will help decide your future as a business owner.  I urge you to take time to think about your future business endeavors and  evaluate your surroundings.

 Evaluating your surroundings also means using your resources. Contact  Waddell Consulting Services today to
schedule your FREE 30  MINUTE CONSULTATION.


Today’s topic is courteous of Christopher Gee, Owner of FHIR a  Non-Profit Organization in Charlotte, NC.