Analyse idea viability and cost calculation:
“You won’t get anything unless you have the vision to imagine it.” – John Lennon In spite of having great idea most of the business flounder in the real world because there isn’t a viable market for their product of service .one of the biggest mistake many would- be entrepreneur make is venturing into business based on what they think people should buy, rather than what people really want to buy or actually do buy .There can be four ways to cater this trap and avoiding it in start-ups-1. identify your market. 2. Identify your customer 3.test and measure demand. 4. Start networking It is critical to determine how much cash is required to open and operate the business but to keep the business running smoothly in its startup phase it is recommended by experts to start with enough money to cover projected expenses for at least six months. List all the equipment, furniture, supplies and people you need to run business. Calculate all initial cost for sales, inventory and marketing literature, licenses, permits, operating and professional fees. Calculate all expenses in detail. It is always better to assume that everything will cost more than expected. Finally cross check every calculation in detail before writing the final business plan.
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Rohit Trivedi Class of 2013 PGDM, NMIMS Hyderabad
distributor? Manufacturing details: Explain in detailed step about your product making. What materials are required to make your product? When and where will you manufacture? What is your cost of good ??????????????????????????????????????????????????????????]????????I=$??]?????????????????????]??????????????????()Q??????????????????????????$?M????????????????????????????????????????????????????????????????????????????%????????????????????????????????????????????????????????????????????????????????$?-?????????????????????-?????????????????????????????????????????????????????????$???????????????????????????????????????????????????????????????????????????????????????Q??????????????????????????????????????????????????????????????????????????????????$?=??????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????A???????????Y??????
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