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Further Discussions => Entrepreneurship , Business & Online Work Forum => Topic started by: The transformer on September 09, 2024, 10:47:17 PM

Title: Understanding business
Post by: The transformer on September 09, 2024, 10:47:17 PM
understand business is as important as starting a business in the first place. This requires alot of strategies which is mostly time oriented.
On that plane, doing the work on yourself first and then the business environment. On yourself, there should be the willingness to learn, examine what you learned and execute.

Businesses is done for people by people. This make people an important part of business. In the learning process, understanding people is a paramount role that every business person should do. Agreeing on this, it means that if we do not understand people, that means we don't understand business.
A business person should be able work with diverse social status...
Title: Re: Understanding business
Post by: bitterguy28 on September 10, 2024, 04:55:56 AM
Businesses is done for people by people. This make people an important part of business. In the learning process, understanding people is a paramount role that every business person should do.
in business if you want to be successful you need to know and understand your target audience you need to know what they need and what they would want you need to know whether they can afford your product/service or not and make necessary adjustments to make sure you are delivering what they need while making good profits
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A business person should be able work with diverse social status...
that’s true but i would recommend to just focus on one i don’t think a business would be able to cater to all social class if your business is affordable and mass friendly then most likely the rich ones will not be your market and vice versa so stick with just one and study them carefully
Title: Re: Understanding business
Post by: bisdak40 on September 12, 2024, 03:32:40 PM
Yes, that is why we need to research before starting a business I have seen many companies shut down after weeks because like it is not an effective business it is such a waste of money. understanding the place, people, environment can help you determine if your business is a good one to start to reduce wasting of money.
Title: Re: Understanding business
Post by: albon on September 12, 2024, 09:42:26 PM
Starting a business is easy but from there you need to put in hard work and patience to sustain success. To build and start a business you need to have a clear idea of ​​business planning, research, legal all. A business plan is a document that contains all the details of a business. Everything from your business partners needs to be properly documented. Your business plan is a living document. This means you can update it as needed. Moreover, grow your business day by day and keep increasing the amount of risk.
Title: Re: Understanding business
Post by: target on September 12, 2024, 10:08:46 PM

This is why there is a business plan to do before the realization if the business. Feasibility study which includes strategic location and target clients and advertising.

Its been a practice since because you are like battling to gain profit. And Sun Tzu's Art of war is being implemented. It diesn't just apply to wars but also to compete with your competitors.
Title: Re: Understanding business
Post by: JoyMarsha on September 12, 2024, 11:05:18 PM
Learning how to be friendly and treat your people right is one of the crucial things someone who wants to start a business should keep to because the way you treat people who come to patronize your business will tell how successful your business will be. If you are someone who is not jovial and has no good manner of approach, people will not patronize you that much because of your approach and attitude. That's why it is very important to express a cheerful look to your customers.
Title: Re: Understanding business
Post by: Bobcrypto on September 13, 2024, 11:24:14 AM
Yeah, a good way to start up business is having a close relationship with people that may patronize you, and on the  people that you also patronize.
However, the type of business you want to start determines your approach, strategies, plans, aims for that business. Starting up a business may be simple, but continuity matters a lot. It is actually easy to start, but maintaining a stable business requires learning all the time and improving your area of weakness for better improvements. Every business venture requires patience and with patience, comes experience; your continue doing business will earn more experienced that will keep your business stable and profitable.
Title: Re: Understanding business
Post by: Rruchi man on September 14, 2024, 11:30:59 PM
A business person should be able work with diverse social status...
Having good people skills will be a plus to any business owner because you will be able to relate to every customer on their level and make them feel loved/special. Businesses that have good customer care and where the managers and owners have good people relations skills usually record reoccurring customers who come back not because they cannot get the product they get from this company from elsewhere but because they love how they were treated, either by the managers or the staff.
Title: Re: Understanding business
Post by: Findingnemo on September 16, 2024, 09:10:23 PM
To be successful in business you need to have collective skills not just a few, that's why some of the experts works for salary and mid IQ person own million dollar business. Understanding people is subjective to the market requirements and most of the time it does on the other hand the most successful ones know how to make the people into believing something new.
Title: Re: Understanding business
Post by: electronicash on September 16, 2024, 10:07:38 PM
To be successful in business you need to have collective skills not just a few, that's why some of the experts works for salary and mid IQ person own million dollar business. Understanding people is subjective to the market requirements and most of the time it does on the other hand the most successful ones know how to make the people into believing something new.

sometimes its just motivation. the experts does have money to go to school and become experts while the businessmen just dive into a business venture and work on it till it becomes a successful business.

one could say some of these businessmen does have no choice but to make the business work or they go hungry for their future relies on the business they put up. eventually they understand business is not just about making profit but making customers come back for more.
Title: Re: Understanding business
Post by: Findingnemo on September 16, 2024, 10:37:46 PM
To be successful in business you need to have collective skills not just a few, that's why some of the experts works for salary and mid IQ person own million dollar business. Understanding people is subjective to the market requirements and most of the time it does on the other hand the most successful ones know how to make the people into believing something new.

sometimes its just motivation. the experts does have money to go to school and become experts while the businessmen just dive into a business venture and work on it till it becomes a successful business.

one could say some of these businessmen does have no choice but to make the business work or they go hungry for their future relies on the business they put up. eventually they understand business is not just about making profit but making customers come back for more.

You are right though, businessmen has to make it successful to change their fate but what about the one who are already rich and still thriving for more which is all about the knowledge which taught them from their own experiences and which one they should hold on to it.

Although not every business started end up as successful, it has the more failure rates too so it all depends on how much give it to do whatever it takes.
Title: Re: Understanding business
Post by: SamReomo on September 17, 2024, 10:01:47 AM
A business person should be able work with diverse social status...
It's easy to say all those things about business than doing it yourself. A business man has to do a lot of things in order to get his/her business at higher levels. I've personally seen some businessmen who used to work day and night in start of their business and were getting noting in return. It took them years to fix the issues of the business and improve it bit by bit.

Only those who can cope with such hard conditions might get success in business, while those who just want to get rich may not get anything from a business. The ones who want to get rich often hire others to look after their business and then personally don't give time to it. For them only money matters not business, and such people often lose money then making anything.
Title: Re: Understanding business
Post by: bitterguy28 on September 17, 2024, 12:25:07 PM
To be successful in business you need to have collective skills not just a few, that's why some of the experts works for salary and mid IQ person own million dollar business.
even if you choose to employ people only without knowing anything about your business you can still experience profit loss not all your employees may be loyal to you and they can deceive you if you are not paying much attention and you do not know how your business is supposed to operate so knowledge is still important not just your skilled employees
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Understanding people is subjective to the market requirements and most of the time it does on the other hand the most successful ones know how to make the people into believing something new.
well great entrepreneurs are innovative a business is not just about providing what the people needs but also making sure you have the edge over other competitors and that you can provide something unique and better than them

innovation is taking a pre existing product and elevating it
Title: Re: Understanding business
Post by: bisdak40 on September 17, 2024, 03:42:22 PM
Learning how to be friendly and treat your people right is one of the crucial things someone who wants to start a business should keep to because the way you treat people who come to patronize your business will tell how successful your business will be. If you are someone who is not jovial and has no good manner of approach, people will not patronize you that much because of your approach and attitude. That's why it is very important to express a cheerful look to your customers.
I really agree to this, in business, it should be necessary that you treat your customers well because they are the ones that will make you successful. When you treat the customers right they become loyal to your business and may even encourage their colleagues to go to your business Satisfied customers are more likely to return and support your business.
Title: Re: Understanding business
Post by: The transformer on September 26, 2024, 08:35:52 AM
To be successful in business you need to have collective skills not just a few, that's why some of the experts works for salary and mid IQ person own million dollar business. Understanding people is subjective to the market requirements and most of the time it does on the other hand the most successful ones know how to make the people into believing something new.
Very correct, to keep a business going, a business man/woman will also need to keep up with trends /innovation (personal or general). Then educating and convincing customers into believing this trend or innovation is  very primary to make sure the business doesn't run out of time (as in becoming outdated)
Title: Re: Understanding business
Post by: superman22 on September 28, 2024, 05:54:15 PM
Business is also known as trade. No sales no business that we actually taught. If you start a business then you should not start to invest all your money from your bad. There is always failure by which you need to learn. Failure due to environment, political or any surprising ways will come. The company which success business are continuously fought all failure situation before gain from their business. If you are small business owner do not think to compete with big business owner because abilities are different. All in all, you need to study and study before invest or start a business.
Title: Re: Understanding business
Post by: Agbe on November 17, 2024, 08:57:46 PM
Starting a business is easy but from there you need to put in hard work and patience to sustain success. To build and start a business you need to have a clear idea of ​​business planning, research, legal all. A business plan is a document that contains all the details of a business. Everything from your business partners needs to be properly documented. Your business plan is a living document. This means you can update it as needed. Moreover, grow your business day by day and keep increasing the amount of risk.
Understanding business that one intends to go into is key to the growth and development of such a business as it will give the opportunity to the person to do a proper research and carry out a detailed study on the business environment which market it is going to be selling more, one of the main courses why businesses crash along the way is that fact that people don't have sufficient information about the business they go into to know what the business is all about because it one thing to start a business and it's another thing to manege and maintain that business as it is critical to the survival of any business this is the main reason why people now adays employ the service's of business course's to guide them and teach them about the business they intend going into
Title: Re: Understanding business
Post by: bitterguy28 on November 19, 2024, 06:53:57 AM
one of the main courses why businesses crash along the way is that fact that people don't have sufficient information about the business they go into to know what the business is all about because it one thing to start a business and it's another thing to manege and maintain that business as it is critical to the survival of any business
do people actually get into business without even studying about it? seems like a fool proof plan of failing lol people who do this are impulsive and gets into situations without planning it which might have worked for others but surely will not work for most
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this is the main reason why people now adays employ the service's of business course's to guide them and teach them about the business they intend going into
no shame in not knowing anything as long as you are willing to go and dedicate your time and efforts to studying it and making sure you learn the most about it
Title: Re: Understanding business
Post by: Chilwell on November 24, 2024, 07:04:18 PM
Understanding the business that you want to start is very important for success. in trading, knowledge is the key. Continuous learning is very important or vital for a traders,  as it enables them to comprehend how to manage risks, build strong relationships with workers, customers, and business partners. and it also gives them the ability to make informed decisions. Acquiring knowledge and skills will also provide valuable experience in capitalizing on profitable opportunities.
Title: Re: Understanding business
Post by: Agbe on December 02, 2024, 09:45:32 PM
Understanding the business that you want to start is very important for success. in trading, knowledge is the key. Continuous learning is very important or vital for a traders,  as it enables them to comprehend how to manage risks, build strong relationships with workers, customers, and business partners. and it also gives them the ability to make informed decisions. Acquiring knowledge and skills will also provide valuable experience in capitalizing on profitable opportunities.
Understanding business is key and very fundamental in the success of any business, infact we can say that the success of business that has stayed the test of time has to do with the level of understanding that those managing it has concerning such business. Understanding of business is what actually differentiate two people doing the same business people who has intentions of opening a business should first of all fo a background study of the business and have the essential about that business before going into it as it will help in the success of that business
Title: Re: Understanding business
Post by: _act_ on December 02, 2024, 10:47:48 PM
Some may be willing to make business but leaving behind some of its rudiments, we can have passion for doing something which is not a bad idea, but we also have to know the necessity of getting the needed information towards achieving the desired goal, which is always a means to arriving at what we want, lastly, once we get there, we must also continue in learning on how to make a sustainability of that same thing.
Title: Re: Understanding business
Post by: Chilwell on March 25, 2025, 10:49:32 AM
Some may be willing to make business but leaving behind some of its rudiments, we can have passion for doing something which is not a bad idea, but we also have to know the necessity of getting the needed information towards achieving the desired goal, which is always a means to arriving at what we want, lastly, once we get there, we must also continue in learning on how to make a sustainability of that same thing.
The most important necessities of business are acquisition of knowledge and understanding as well as the capital. Acquiring knowledge before starting a business doesn't Mean that you've learned all you need to know about the business, rather it is just the beginning, because as a businessman even mistake that you made can be beneficial to you, because you will gain a lot of skills and experience that will add to your knowledge, if you understand the business that you are doing very well, then you will know how to manage the business effectively.
Title: Re: Understanding business
Post by: bitterguy28 on March 25, 2025, 01:26:10 PM
The most important necessities of business are acquisition of knowledge and understanding as well as the capital. Acquiring knowledge before starting a business doesn't Mean that you've learned all you need to know about the business, rather it is just the beginning, because as a businessman even mistake that you made can be beneficial to you, because you will gain a lot of skills and experience that will add to your knowledge, if you understand the business that you are doing very well, then you will know how to manage the business effectively.
when starting a business it is essential that you try to prepare by learning the most that you can but this does not mean that you will be able to learn everything there is to learn because experience is what will teach you the best but still it would not hurt you to learn as much as you can instead of going into business ignorant and clueless
Title: Re: Understanding business
Post by: Dr.Bitcoin_Strange on March 26, 2025, 01:33:13 AM
Yes, that is why we need to research before starting a business I have seen many companies shut down after weeks because like it is not an effective business it is such a waste of money. understanding the place, people, environment can help you determine if your business is a good one to start to reduce wasting of money.

Yeah, that is why I do advise people, that if they want to do just like me, then they have to learn from me, also check themselves if they actually want to act like me in terms of business, because they way I might act towards my business and it worked for me, doesn’t guarantee that it might also work for you, that is why it is required to understand the business you want to start, and also understand how you can handle it when it goes bad.
Title: Re: Understanding business
Post by: bhadz on March 26, 2025, 04:34:12 AM
when starting a business it is essential that you try to prepare by learning the most that you can but this does not mean that you will be able to learn everything there is to learn because experience is what will teach you the best but still it would not hurt you to learn as much as you can instead of going into business ignorant and clueless
Start very small for those beginners in business. I agree that one needs to be prepared before they start their own because if they come unprepared, they're likely to lose their money quickly with it. But because of how they are learning and how they're making themselves familiar on it, all of the lessons are going to be learned when they have done the actuality of it. And those that goes to start their own business without any knowledge, I am rooting for them. Although it is very likely that they will fail but they'll learn it in the process.
Title: Re: Understanding business
Post by: JoyMarsha on March 27, 2025, 10:54:20 PM
The relationships you build over the years with people in your business will tell how progressive your business will become. You can't run a successful business with a poor relationship with people, and you expect your business to flourish when you actually have a relationship problem with those who will patronize you because of your stiffness to them, and you don't tend to agree with what they say. What you know is about your own self and the profit to make
Title: Re: Understanding business
Post by: Dr.Bitcoin_Strange on March 29, 2025, 07:52:21 PM
To be successful in business you need to have collective skills not just a few, that's why some of the experts works for salary and mid IQ person own million dollar business. Understanding people is subjective to the market requirements and most of the time it does on the other hand the most successful ones know how to make the people into believing something new.

On point, understanding people is the key to business for me, because people have different attitudes that will get to your nerves and if care not taken, you might have an issue with them, if care not taken. That is why we need to study people as they come to us, so that you can have better communication and understanding and also even when they get to your nerves, you won’t react too much again and you know how to follow such persons, in order for you to maintain your relationship with your customers.
Title: Re: Understanding business
Post by: Agbe on March 31, 2025, 10:34:51 PM
To be successful in business you need to have collective skills not just a few, that's why some of the experts works for salary and mid IQ person own million dollar business. Understanding people is subjective to the market requirements and most of the time it does on the other hand the most successful ones know how to make the people into believing something new.

On point, understanding people is the key to business for me, because people have different attitudes that will get to your nerves and if care not taken, you might have an issue with them, if care not taken. That is why we need to study people as they come to us, so that you can have better communication and understanding and also even when they get to your nerves, you won’t react too much again and you know how to follow such persons, in order for you to maintain your relationship with your customers.
This is the more reason why companies now invest in human relations management courses for their staffs because as far as the business environment is concerned it is an environment where people interact so you must be ready at any time to encounter challenges from people because as a business owner your target is the people in society and this people has different behavior and temperament levels so your ability to manage them is key to the success of any business, you must make sure that you prioritize your customers and always try as possible to hear them especially when they are angry concerning a product or with the way they where treated when they visited your business premises because the way and manner a customer was treated will depends whether such a customer will come back or not
Title: Re: Understanding business
Post by: Chilwell on April 08, 2025, 08:03:01 AM
Start very small for those beginners in business. I agree that one needs to be prepared before they start their own because if they come unprepared, they're likely to lose their money quickly with it. But because of how they are learning and how they're making themselves familiar on it, all of the lessons are going to be learned when they have done the actuality of it. And those that goes to start their own business without any knowledge, I am rooting for them. Although it is very likely that they will fail but they'll learn it in the process.
It is actually advisable for a beginner to start a business with a little amount of money that they can afford to lose. If a businessman understand the principle of the business everything will become more easier for them. Acquiring knowledge about anything that an individual wants to involve in, is very important. You can not just wake up one day and decided to start a business just because you are willing to become rich, things doesn't work out that way. As a saying goes "JOURNEY OF A THOUSAND MILES BEGIN WITH A STEP" for an individual to be a successful businessman, you have to begin from the root, which is by acquiring knowledge and understanding the business.
Title: Re: Understanding business
Post by: Dr.Bitcoin_Strange on April 09, 2025, 11:12:49 PM
Starting a business is easy but from there you need to put in hard work and patience to sustain success. To build and start a business you need to have a clear idea of ​​business planning, research, legal all. A business plan is a document that contains all the details of a business. Everything from your business partners needs to be properly documented. Your business plan is a living document. This means you can update it as needed. Moreover, grow your business day by day and keep increasing the amount of risk.

You are right, determination is also required, for one to be indulge in business has to made up their minds for what they are about to do and if they are capable of handling a business when the needs arise like the risk to withstand the heat or pressure from people when they are not meeting their exact needs or expectations, it can also bring down the business.
So people also need to know about this fact too as an aspect of understanding a business for their own and that of the customers benefit.