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How can I find out if my business is viable?

Question asked by: knowitall

Is my business viable is an essential question that anyone seriously considering starting up in business must ask themselves.

The answer to the question is harder to find. For a start, I would recommend always getting the opinion of others as we can be over zealous and over optimistic about our own fortunes therefore we need sanity checking from others.

Go over the fundamentals of your business - the cost of your product, how much you can sell it for, stock levels, stock supply logistics, staff needed, premises, knowledge, access to markets, competition, the arenas you will compete in and so on and so forth.

Only by being really detailed can you work out how best to proceed.

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