Episode 46 - Determining Business Viability: Factors to Assess Profitability and Sustainability

In Episode 46 of the "Create Your Own Economy Podcast," our host Bunmi Ajibade emphasizes the importance of writing a business plan for success. She highlights the need to gain traction, set goals, and fully understand the business's profitability. 

Key factors discussed include identifying one's passion and expertise, analyzing market trends and competition, determining a unique value proposition, and understanding the target audience's pain points.

The episode also emphasizes the importance of financial planning and forecasting, as well as assessing how long it will take for the business to become profitable. Personal experiences as an entrepreneur are shared, and Bunmi emphasizes the need to consider personal interests and passions when starting a business. 

Five key considerations for determining business profitability are highlighted in this episode.

 

Key Moments: 

[00:02:26] Factors to consider for a profitable business.

[00:04:10] Identify passion, expertise, competition, growth, uniqueness, target audience, pain points.

[00:08:34] Finance, planning, forecasting: vital for profitable business.

[00:11:45] Entrepreneurship doubts? Get support and checklist.

 

About Bunmi Ajibade: 

Bunmi Ajibade is the CEO, Executive Trainer, and Coach of Clarole Growth Resources, LLC. She impacts the lives of individuals, groups, and corporations through Coaching, Training, and Mentoring. Bunmi’s strategies include Creating Awareness, Clarity, and Navigating to be more and do more to achieve success. Through her love, passion, care, and empathy, Bunmi has helped her clients navigate, gain clarity and find solutions that will make them live their best lives and become successful. Bunmi has organized workshops, Seminars, led Leadership discussions, and conducted one on one coaching sessions. Bunmi is happily married and raised three successful sons. She resides in Texas, USA. 

 

How to connect with Bunmi Ajibade: 

Website: https://clarolegr.com

LinkedIn - https://www.linkedin.com/in/bunmiaj/ 

Facebook Page - https://www.facebook.com/Clarole14

Book a call with Bunmi - http://clarolegr.com/meet