Deciding to invest in yourself and start your own business can be incredibly daunting. You will often find yourself bombarded with well-meaning advice, but what should you really consider when you are starting your own business? Aristotle Varner is an entrepreneur and investment guide who advises budding entrepreneurs on how best to invest and grow their business. He currently runs online programs that are designed to help those who want to start a profitable company. Here, he shares what he feels is the most important question to ask yourself when you are starting your own business.
The most important question, according to Varner is this: is there a demand for my service or product? Every single product or consumer service enters into a specific market, and Varner believes that anyone who wants to enter that market needs to first understand it. He advises that you should take the time to analyze the market demand of your potential product or service. The concept of market demand refers to the individual demand for a product and the market where this demand exists. Varner advises that the market demand for your desired product can be easily determined by researching the market it will enter to see if there is a space that your product could fill. He shares that market demand is incredibly important because it will determine whether your product will dominate a market or disappear within it. Varner says, “Don’t do yourself and your business idea a disservice by not understanding the environment that it will have to succeed within. Ask yourself, is there a demand for my product? Is there potential for it to be profitable?”
Aristotle Varner believes in financial literacy and investment intelligence and promotes these concepts through his investing group chat, Aristotle’s Signals and Learning, and his online trading university, AMUU. Varner has been creating an entrepreneurial community and providing them with access to techniques that have limitless use for those hoping to create their own wealth. Varner elaborates, “Knowledge is power, and financial knowledge can help anyone learn how to profit from their ideas.”
Deciding to leave the security of a waged job to start your own business will always be a daunting process, but if you ask yourself the right questions, then it will never be impossible.