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[Music] how to start a raffle business this video is designed to help you determine if your raffle business idea is feasible to identify questions and problems you will face in converting your idea into reality and to prepare for starting your raffle business the video features all the essential aspects you must consider before you start your raffle business this will allow you to predict problems before they happen and keep you from losing your shirt on dog business ideas at the end of the video there are three valuable free gifts waiting for you a token of appreciation for watching this video operating a raffle business will depend on the following four conventions one a practical plan with a solid foundation to dedication and willingness to sacrifice to reach your goal three technical skills four basic knowledge of management finance record-keeping and market analysis as a new owner you will need to master these skills and techniques if your business is to be successful identify your reasons as a first and often overlooked step ask yourself why you want to own your own business check the reasons that apply to you 1 freedom from the nine-to-five daily work routine to being your own boss 3 doing what you want when you want to do it for improving your standard of living 5 boredom with your present job 6 having a product or service for which you feel there as a demand some reasons are better than others none are wrong however be aware that there are trade-offs for example you can escape the nine-to-five daily routine but you may replace it with a 6 a.m. to 8 p.m. routine preliminary analysis major flaws yes response to questions such as the following would indicate that your business idea has little chance for success one are there any causes such as restrictions monopolies shortages that make any of the required factors of operation unavailable such as unreasonable cost or scarce skills to our capital requirements for entry or continuing operations excessive three is adequate financing hard to obtain four are there factors that prevent effective marketing a self-analysis starting a business requires certain personal characteristics this portion of the video deals with you the individual this next group of questions though brief is vitally important to the success of your plan it covers the physical emotional and financial strains you will encounter in starting a new business are you aware that running your own business may require working 12 to 16 hours a day six days a week and maybe even Sundays and holidays do you have the physical stamina to handle the workload and schedule do you have the emotional strength to withstand the strain are you prepared if needed to temporarily lower your standard of living until your business is firmly established is your family prepared to go along with the strains they too must bear are you prepared to lose your savings in case your plan fails...