Chris Burch recently offered up what he feels are the key factors a startup business must consider (medium.com). The business world, as usual, has its ups and downs. It is a matter of debate whether the business world is in a long decline or more of a “glass half full” type of situation. New businesses opening has been trending downward but that is changing. The market is definitely looking for business but there are some things a business startup must consider.
It is true that consumers are tending to shop at big box style stores as well as online and this is weeding out a lot of small businesses. These big stores are not taking out all of these smaller retailers. There are opportunities for businesses that can do certain services better than the big chain stores. Always make sure to have a realistic appraisal of your market.
Regulation is a constant presence to protect consumers. It is necessary but can slow new businesses. It can also come as a surprise to new business owners who don’t do their due diligence.
Chris suggests that business owners “Consider piggybacking.” There are great innovations occurring due to watershed funds from big companies. If you don’t have the funds you need for your business, a larger industry certainly does. Sometimes larger companies are happy to work with a small company in areas that they don’t currently service.
Chris’s ending point is that there are a lot of aspects you must consider before you begin operating. He says the most critical thing you must do is make sure this consideration has been done before you get going.
About Chris Burch:
Christopher Burch is the founder as well as the CEO of Burch Creative Capital, a brand development and venture investment management firm that is located in New York City. He has had a 40 plus year career in business and created several multi-million dollar companies (entrepreneur.com).
Chris Burch has played a role in the growth of 50 companies. He has consistently demonstrated a great understanding of the behavior of consumers. He is known for his innovative approach to business as well as his diverse portfolio.
Connect with Burch, visit https://www.linkedin.com/in/christopher-burch-116531123