When it comes to starting a business there are many factors to determine long before placing an 'open for business' sign at the front door. The first consideration is what type of business will be started and determining if there is an actual need for the products or services offered.
Starting a business without first conducting market research can result in immediate failure. When identifying customers it's best to follow the 'who, what, when, where and why' format. Doing so provides a realistic picture of if the business concept is viable and what strategies are required to reach business goals.