examine the entrepreneurial activities that are needed for drawing up the strategies of a new business

Expert Solution

1. Cime up with a great name for the new business because first impression is the best impression.

2. Understand the finance requirement and source at a lower cost because arranging the finance is very difficult, always keep 2nd plan for arranging finance.

3.Focus on building great product - but don't take it forever to launch. Product has to be at least good and can be differentiated from the other product in the market.

4. Become a strong salesperson in the market ultimately sales is the only fancy word that has to be achieved and that can be achieved only by the good salesperson.

5.Build great comoaco website which shall includes the history of the company and products, their nature, ingredients,featurs.

6.keep your investors constantly informed about the good and bad news.

7. Market your business like crazy.

8.Hire experts, consultant to advise on various business areas like tax, finance, manufacturing.

9. Expect big challenges and be ready for them.

10. Get the right business lawyer.

ekkarill92 answered 1 year ago

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