Question: When you get started thinking about a business that would be a success in your community here are three areas to focus on: COMMUNITY population
When you get started thinking about a business that would be a success in your community here are three areas to focus on:
COMMUNITY
population
geographic size
demographic profile of residents
existing industry and business
competition
values and lifestyle
needs existing and potential
RESOURCES
financial cash investments
human family members, employees, advisors
natural climate terrain, etc.
manufactured buildings infrastructure, equipment
locational proximity to other resources
ENTREPRENEUR
skills and abilities
training received
financial resources
hobbies and interests
values, work ethic
time available
age, maturity level
drive, ambition
personality
By making a list of these for your community, the resources available to you, and what entrepreneur characteristics you have, you can develop a successful business idea.
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