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It almost goes without saying that you should not start business within a
trade or area of experience that you are unfamiliar with.
Experience
If you have to start out gaining basic knowledge about your service or product
along with getting to grips with running a business it will soon become an
almost impossible task.
If you have worked in a shop selling spare parts to cars it is obvious that
you have advantages if you start a similar shop in another city. E.g. you know
the name of the wholesalers and what items customers are most likely to buy.
However, some lines of trade are fairly easy to learn. Starting a cleaning
company or selling pizzas can be done with very little knowledge about the
trade.
Education
It is a great advantage if there is an educational foundation of the competences
in the company. If you can add several years’ practical experience within the
field it will take the competence to an even higher level.
Life experience and spare time activities are also important parameters to
review when starting a business.
Who do you know?
Experience and education are great but knowing the right people is also great. If
you happen to know the owners of a textile factory it will be an advantages if
you are going to sell textiles.
What do you know best and what are you best at? Does that fit in with your
new business? - Go to next
business issue: Internal Trade Network
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| Mogens Thomsen, Scandinavia |
28-11-2009 |
All academic studies about this subject says that if you want success with your business you should start in a branch of trade where you have been working for some time. E.g. 10 years in the wind mill industry gives you contacts and knowledge that money cant buy.
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