Question

What are the components that you need to have from idea to the opportunity to create a business? Define what does it take to create business bring the product from idea to opportunity.

Answer 1

When we want to established a business then the first steps towards idea to opportunity is having determination for achieving the target.First of all we have to set up a target that how much quantity we have to produce.then we have to make a plan.After making a plan we have to know about the resource.how much resources we are having.Availability of labour,land, capital and their optimum allocation is also the one of the important task to do.They we have to do detail research about market segment.We have to know about consumer choice.What consumer wants.Then we also have to look around the political,economical ,legal environment aspects of business.If we are doing business then we must have dare to invest money in business.because no risk ,no gain.Then we have to know about the competitior of our business.we also have a great look about how is the type of market.What will be our marketing strategy for achieving targets.we must have data's of other companies.we have to know about territory design .Identifying overlapping district.etc.

We have to create benchmarking.We have to focus about quality work.We have to look towards best prospects.so we have to focus about financial documents.

So if we wants to achieve something then we have to look towards deeper sides of business.