To define the nature of your business, consider the following steps:
Identify Your Products or Services: Clearly define what you offer to your customers. Analyze Your Target Market: Understand the demographics, needs, and preferences of your potential customers. Determine Your Business Model: Decide how you will generate revenue and sustain your operations. Set Your Objectives: Establish long-term goals that align with your mission and vision. Evaluate Your Industry: Conduct a thorough analysis of the industry to understand trends, competition, and growth opportunities.