Question

In: Operations Management

what are the lessons learned from IBM that you could suggest to a new entrepreneurs

what are the lessons learned from IBM that you could suggest to a new entrepreneurs

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Expert Solution

As a new entrepreneur, there are various things that a new entrepreneur should keep in mind before starting their new business in the market. The first thing which an entrepreneur should choose is which type of business he wants to start. After that, he should search for the scope and demand of that particular business. If he is satisfied with that business, he should explore its company's proper name, which should attract the customers and be easy to pronounce for the customers. After successfully choosing a business name, the person should plan the business accordingly and start the business slowly, which will help the company achieve its short-term objectives effectively and efficiently. Competition is present in every field, and for a new startup, it will be challenging to cope with the current game going on. Still, if the business handles the competition in the right way, it can go one step ahead of its competitors. Moreover, the person should choose a location favorable to the business as it will be easy for the person to build their customers, and the company will grow with speed. IBM guidance to a newly started business will help the business extremely and will result in the growth of the market.

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