Researching Business Ideas

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Once you have a business idea, you must ask yourself, «Will anyone want to buy my product / service?». Market research tells you about your customers, competition and pricing, as well as your likely sales volume, costs, investment and profitability.

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Udgivelsesår: 2011

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Menna Abu Zahrahar citeretfor 3 år siden
THE FINAL QUESTIONS
The key questions here are:

Will anybody want to buy my product / service?
Who?
Why? (and Why from me?)
When? (and How often?)
Where?
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Menna Abu Zahrahar citeretfor 3 år siden
However, even at this early stage, it is a good idea to estimate (even crudely) the minimum size or capacity at which you will make a profit – the break-even point – as well as the maximum operating capacity that you can afford to establish.
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Menna Abu Zahrahar citeretfor 3 år siden
As part of your business planning, you will prepare financial projections for inclusion in your business plan.
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