[Money Monday] 7 key ingredients to starting a business

A busy street in Nigeria

Market research

When starting a business, you need to have adequate and well-researched answers to the following:

What problem is the business aiming to solve?
Who is your target consumer?
Who is your competition?
What product are you bringing in and in what market will it operate?

Researching the right answers to the above questions will not only grant you success but also make your business stand out.