A thought about choosing the right business market to operate in came to my mind. This is in relation to industry, business venture, profession, career or job role.
Firstly, what would you consider the initial best option for your desire? (intuition or initial thoughts/concerns).
Would it be better to enter an already established market (which might even seem saturated) with clear laws and guidelines for operation or a market that is still emerging with not so clear structures and policies in place?
What is the state of that space within the economy that you are considering? Are there bottle necks, bureaucratical situations or even cultural, ethnic and religious misalignments with what you stand for?
Are you the type with the capacity to break new grounds by taking risks with previously unknown ventures or would you prefer safe, tested and secure options in your dealings?
Are you a leader in terms of strategy and execution or would you honestly class yourself as a follower?
Do you have a fall-back option or Plan B?
There are no actual right or wrong answers. You simply need to do a clear self-assessment of your capacity and capability after a detailed survey, SWOT, cost analysis and risk assessment before you make a decision and jump into your preferred environment.
Remember to think deeply about the products, skills and expertise that you have while also understanding that your motivation and drive level will help with the staying power required to see this new venture thrive and succeed!!!
Have a great week!!!
#MarketAnalysis #ThinkTank #GlobalThinking
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