Necessary considerations in starting a business venture

Venturing into a business is a risk factor that all possibilities of failures and success must be taken into consideration. No business can survive without thoughtful approach to these basic necessity:

• Market
• Public
• Advertisement 
• Environment.

For success in business, those necessities must be taken into consideration as they cannot do without each other if left out. They are to be planned for separately and later in union to make everything synchronize.

Reasons for the planning of these necessities;

1) Public: Before the development of a product/service, the business owner knows the particular type of public that would best benefit and want/purchase the product. He defines the public based on his products/services.

The public are the customers that would purchase the product, they are the end-users of the product. Being the end-users of the product, the public just want to consume the product but also expects some quality assurance from the product, the price, packaging; this gives them reason to purchase the product again.

2) Market: The market can also be described as another kind of public, only that they are not the end-user of the product. They buy directly from the company and sell to the public, serving like a kind of middlemen between the company and the public. Not all product type thrive in the same market. The business owner/company knows the kind of market that best sells the product and goes for it.

3) Advertisement: This is the awareness of the business product. Popularity is the growth of the business and it's product/service. It is what makes the public know of the existence of the product. For a product advert to work the right advertisement must be made in the right media (broadcast: TV and radio or print).

Each product has it's own unique media that best delivers the message. For instance, when advertising a car the best media to use in the broadcast is the Television because the public would like to see the brand and other qualities in the car than just hear about it from a radio or newspaper.

4) Environment: This is the operational base of the business. It is the surrounding of where the business is located. It is made of the public, market, and other elements that benefits and affects the business. When consider the business location, the business owner must check and research on the environment and see if it best suits the required atmosphere to the business activities.

The environment should be chosen in a location that is close to the market and the public, and also raw materials for the manufacture of the product.