If there’s a question we keep getting on our Friday #MAFinancialGrowth chats is “which business, would you recommend for me to start?” or “which investment would X amount of money be best suited for?”
In all honesty we have never had a direct answer to this question, and we actually think it is not possible to have a direct answer to it, all you can get are variables to consider on what’s best suits you, and that will be our main focus on today’s article
So, we’ll suggest the question to answer by the end of this read is, “how to know what business to undertake?”
To be able to answer this concern we have some questions that we need you to answer, at this point is where we suggest you get your note book and a pen, as we also believe in the power of writing down your thoughts, or journaling if you like.
- Can I buy or pay for this product, if it was offered to me?
- Is there a need for this product in the market?
- Is this product already in the market? If YES, what difference is my product bringing? What convenience will my product add to my end user?
After the above question are clearly answered now its time to address the second part of the pandora
Draw a T table like below
| Demand | Supply |
| List everything that the idea needs to take off and eventually succeed | List down the capacity or ways in which you plan to meet these demands (be as detailed as possible, where you’re note, indicate as such, key is not to leave any thought undocumented) |
At this juncture you are done with close to 50% of the actualization process, now it is time to ask yourself the final question which is……………… I’m I willing to pay whatever the cost will be to see my desire or dream will ask of me? I’m mentally strong enough to handle all the sleepless nights actualization of this will ask of me?
When done with all this close the notebook and go do something else, then after like a day come back and re-read everything again brainstorm on if you still old the same answers as you did before, if anything has changes don’t cancel anything but note the changes on a different page, do this again after a week and again note any changes or additions that will pop in your mind, again on a different page and in all these cases make sure you’re dating each and every occasion.
After this now put the actualization ideas into stages of which you plan to launch the product and start the work, put your actions where your thoughts are and bless the world with that great product.
Are you at a better place now that you were before reading this article? Let us know on the comment box below
Also, you can tell us whet other topics you’d like to see us highlight on and we’ll be glad to share our ideas on the same.
Have a financial headache free week ahead.
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