Niche identification is finding a product or service you wanted to sell in a target market. A simple way to identify niche is answering the questions what do you like?. Then answer the question what can I do to help others like me who like...
Analysis
The initial investment is also known as a start-up cost. This is the amount you need to start your business. This is a sum of all costs involving setting up.
A niche is a specialized part of the market where you should dominate sale and market share. For example, if you like pets then pet collar can be your specific.
Fixed cost Fixed cost value does not change and has a predictable value. Most of the cost you see in a contract are fixed cost. For example, the rent advance in a rental agreement is a fixed cost. Another example of a fixed cost would...
Essential cost Essential cost is the cost that is mandatory to conduct business. For example, if you are a chief doctor in a group practice setup then your annual professional.
Direct cost Direct costs are expenses that a company can easily associate to a specific item such as a product, department or project. This item could be a software or.
One-time cost This cost is the cost you pay only once. Rent advance, paying your CEO a signup bonus, incorporating a company, equipment rental security deposit, one-time equipment purchase are examples of one-time cost. Ways to reduce one-time cost in business If one-time cost is...
Before you invest time and energy into selling something you need to check to see if there is a market for what you are planning to sell. Market research is.