Decisions that Determine the Success of a Business

942 Words Feb 22nd, 2018 4 Pages
A business’ success can be valued on how much profit a business makes. In business, you earn profit by selling products and services to customers who are willing to buy. Qualities needed in business are determination, math, good decision making skills, and many other attributes. Decisions are an important part of business. The complex process of decisions that make up a business include location, budget, choosing what industry you should go into which is based on demographics and what is best suited for your city. These and many other decisions determine the success of a business. There are many steps to starting a business. You should make a record of your competition. This means checking how they advertise, how much they charge, and how successful they are. You can use these to be more successful than them. You should also make a marketing plan. A marketing plan is deciding how you will run your business. These include figuring out your cost for supplies, how you will advertise, your location, how you will finance, and figuring out taxes and business permits.
When you are figuring out how you want to advertise, there are many different methods you could chose. Some outlets and media you could use spread your business are TV, radio, newspaper, magazines, mail, PSA, billboards, business cards, and signs. There are also many techniques that…