Selecting the right venture requires insight and research, says Mississippi entrepreneur David Hunter Moore

HERNANDO, MS, USA, December 23, 2021 /EINPresswire.com/ -- Investing in a venture is a big decision for most entrepreneurs. But, according to David Hunter Moore, finding the right small business means finding a company that aligns with the investor’s values, interests and skillsets. By the age of 18, David Hunter Moore had started his first Hernando business. By age 23, he had acquired a second business and grown his first startup to a valuation of over $4 million.

“There is a lot of pressure to get it right,” he says regarding business investment. “When I first jumped into entrepreneurial work, I didn’t realize exactly how much it was going to impact me. But, I’m really lucky. I’m good at what I do, and I enjoy it. So, I’ve been highly successful. Now, I’m trying to help other business owners think about where they are headed before they start down this path.”

In his recent discussion on the topic, David Hunter Moore noted X important things that a new business investor should consider before making a purchase or starting a business:

Does the Business Meet Your Lifestyle?

Not all business owners understand the demands of the business they choose. Moore recommends learning about the hours and personal expectations before selecting a business to run.

Will Your Strengths Benefit the Company?

“Do what you are good at,” encourages David Hunter Moore. He says it is important for entrepreneurs to capitalize on the natural skills they have when starting a business.

Do You Understand the Industry?

It is necessary to have a good grasp on the market, says Moore. If you don’t know the challenges or expectations, it will be difficult to succeed. Researching the industry helps business owners understand possible pitfalls they might not otherwise consider.

Is the Target Audience Broad Enough for Long-Term Growth?

Some businesses are targeting such a small niche that they have a difficult time scaling, says Moore. It’s important to understand the limitations of your business in terms of audience reach. In some cases, he explains, there are ways to grow your audience for long-term growth.

Does Your Area Need a Business Like This?

Knowing the market means having a good grasp of the competition in your area. Moore explains that trying to enter a saturated market can make it much harder to get a footing. “Research on the local demand is key,” he says.

Is There Room for Profit?

Moore notes that the number one reason for small business failure is due to cash flow issues. He says businesses need to have low overhead and a small materials cost for any venture. Understanding the cost of starting up the company is the only way to determine if the expected revenue flow will lead to sustainable profit, despite sales and discounts.

Caroline Hunter
Web Presence, LLC
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