Things you should keep in mind before investing in any business

The journey of Mr. Madhu Shekhar Bhandari, a business tycoon in Dubai, is a source of inspiration to many budding entrepreneurs. Whether ruling the real estate business or the wellness industry, Mr. Bhandari has always emerged as a successful leader in making his brand a success. How one can imagine that a B Sc graduate from Jodhpur can emerge as one of the successful global leaders. No doubt, he is a man of high vision. 

Being in the industry for more than two decades, Mr. Bhandari started his journey with MSB reality, a real estate group. Being a commercial real estate investor, he has always aimed at delivering quality services with true honesty and integrity. You will be surprised to note that in the year 2008, when the whole economy was undergoing a financial crisis, it was MSB reality who has no pending dues toward any bank or any investment services. The whole credit for the same goes to the efforts which Mr. Bhandari put into making MSB reality a known name in the field of real estate service providers. That is why he is referred to as a Global icon in real estate management in Dubai. After getting immense success in this field, his passion for naturopathy made him form the wellness group-SWAFE. Mr. Bhandari always believes that a happy customer is a key to a successful business. Therefore, all the products and services offered by him are customer-centric. One such example is the Consta Group. The group offers multiple services under one brand roof.  

One can’t tase success without facing any hardships and Mr. Bhandari is not an exception, too. His hardships and struggles have made him teach upcoming business professionals the points they should keep in mind before investing in any project. Following are the details on the same:

1. A full proof financial plan: This is one of the most important factors to consider before investing. An intelligent financial plan will not only help you in providing financial security but will also guide you in managing your monetary transactions.
2. Evaluate risk involvement: Every startup has a certain amount of risk involved in it. So before investing, it is very crucial to understand the risk factor and then invest responsibly. The key to a successful business idea is not to invest that much money which you can’t afford to lose.
3. Proper understanding of the business structure: The quote “invest what you know” aptly marks this factor. Once you get a proper understanding of the business structure, it would be easier for you to figure out the odds of the same and give you a clear understanding of your profits and liabilities. To sum up, it is always suggested to do a business you know other your investments are at risk.
4. Patience: One must keep in mind that the investment you made in your business will not instantly reap fruits. You need to practice the essence of patience. Just as a small seed takes time to yield a harvest, the same thing applies to new business as well. Even once you start earning profits, you should use the same in expanding your business. This will yield greater returns.
5. Research: It is one of the most crucial steps before investing in any business. One must do detailed homework to get a complete understanding of the market and customer preferences. One must also keep himself f updated with the ongoing competition, too. Your research must focus on the SWOT analysis, marketing tactics, financial strategy, etc. Even studying the background of professionals working with you is also a major requirement as a part of your research.
6. Expert consultation: Before investing in any business, it is always advisable to consult a third party who holds expertise in the field or a business valuation expert for wonderful projections related to the business.
7. Customer interaction: It is always nice to interact with your customer or consumer to get a clear understanding of your product. One must gather as much customer data as possible to get knowledge regarding the usefulness of the product. If you wish, you can add the following questions while interacting with your customers:

• Are they interested in any other alternative product?
• Pros and cons of the product being used?
• Will a drop or increase in prices affect their taste?

There is no denying the fact that if customers adore your product, you have already won the battle and your investment turns out to be fruitful.

     8. Official documentation: It is always advisable to consult your lawyer with the legal                               documentation that is necessary before investing. He is the only person who will be able 

         to guide you more professionally so that your investments should not go waste.

Thus, from the above factors, it is visible that one needs to make a prior checklist before investing in any business then only he will be able to reap rewards on his investments.