Below is a summary of two important aspects to consider before starting: the sector or type of enterprise, the price of the product and the advertising to make it known.
What enterprise to start?
At the time of starting up a business, the first thing to be analysed is the sector and type of business, taking into account the capital, potential competitors and clients of the product and/or service to be offered in the market.
In this sense, the most advisable is a market study prior to making the decision of the venture to start, in order to obtain the real and most suitable information for such analysis.
Determination of the price
This is one of the focal points for the success of a venture, as a determining factor in achieving a successful market introduction.
However, the simplest way to determine the price of the product to be offered should be considered: production or manufacturing costs + fixed costs + variable costs + estimated profit.
It is important to emphasize that the aspects mentioned are of great importance to take into consideration so as not to fall into errors that may cause losses to the business.
How to make the product known?
Advertising is one of the best known and most used tools for promoting products and making the business known to potential clients.
Nowadays, with the economic recession that the world is going through, the expenses for this concept have been redirected to advertising on social networks and even more to businesses that are in the stage of starting up activities.
The choice of social networks will depend on the branch of business, such as restaurants, cafes, ice cream parlours, clothing shops, cosmetics, among others; the use of Instagram is ideal, because the interaction with users is very visual and direct.
Likewise, Instagram is one of the most widely used social networks for advertising, as it is one of the most active today and one of the most selected by businesses that are starting up, to make themselves known as a firm.
For the purposes of this publication, only these three initial aspects will be considered, however there are others to consider when making decisions to successfully start an enterprise.
Note: All images and separators are my property, the images were taken with my Samsung J7 phone, the farewell banner was made with my own images using the Canva application.
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