How do you choose your project
Have you decided that starts your business? Maybe you have a great idea, and trying to find out whether viable or not. Or perhaps you are unemployed and want to do something, or the current fed your job and looking for an alternative.
Whatever the circumstances that led to this point, the first question you have to ask yourself: “Are you having a project suitable for me? Does the ingredients to become the owner of the project? Does not have all the people of this ingredient. Might be the rewards are great, but also risks. Will change the pattern your life in a way you may not be ready to it. if were not looked after this issue, you should ask yourself these questions and looking for answers.
If you have decided to walk in the path of the business, the next question is to ask yourself, “What is the type of project you want to be shown?” There are, of course, thousands of options. Maybe even things that you might think it is out of your reach, you will find suitable and beneficent if Toataat circumstances. May start from a pharmaceutical factory or plant for the automotive industry that requires huge budgets for research and development, along with options such as borderless, food products, import / export, and many others open up to the individual to work.
First, the traditional approach:
The traditional approach to entrepreneurship is the process of scientific methodology. Overall, the curriculum consists of research in the market, and determine the need for, and create a business to meet them. More specifically, the process steps are:
Select the industry that are interested in the work.
Find all types of companies and models of various projects within the industry.
Conducting market research to see where there is a need not met yet – geographically, and terms of prices, products complementary to what is already in place, services, etc..
Analysis of the competition.
The development of an initial work plan for the project to meet that need.
To do more research in the market to assess the market potential of realism to your project. The size of any potential customers to buy what you sell?
Review the action plan and identify the requirements of private funding.
If necessary, I am trying to lenders or investors.
Start your own business.
– The most obvious problem with this approach is that it is likely to be costly and so you decide whether you will implement this project or not, what would have spent on studies and research. Of course, the time you spend on the study reduces the risk of failure on the road.
– The other problem is that you may discover in the end it was too late because you wasted time and effort in the search for the project were not originally from want, and just because you have chosen Fancy it Sidermpelg reasonable money. Even after it became the owner of the project, Sentapk feeling stuck in something you do not like and what Tmanath that did not materialize.
Second: Do what you love, money will flow:
The problem is that most people do not read and just start to love the idea: some common scenarios for this principle is as follows:
No one wants to buy it: You are passionate about the product, but it seems no one else feels it. You can not sell something to the public does not want to buy.
Someone else thought like you already: you have a great idea, but a niche market, and won another person production already. If better funded, it may be able to produce better / faster / cheaper.
There are a lot of people think like you: markets highly competitive is not fun. No matter how much you love your own business, if you constantly face rival head to head with competitors, the product will become stagnant old very quickly.
There are more than that were not aware of: you should not underestimate the cost or time required to develop, or the incubation period for the marketing of Azaralamfol, and starts the flow of revenue, or the amount of energy required, or the amount of work that will take your personal life.
Even while pursuing the love of the project is a wonderful goal, if you exclude the mind and omitted responsibility it is becoming disastrous.
Third: better choice Aatnin:
This approach does not rule out any of the two methods. Let’s start with the idea, rather than formal research. Some potential sources of business ideas include:
Self-discovery: the idea that knowledge really love her and I know how to get out of them project.
Inspiration: Maybe the idea that popped into your head suddenly one day may not be a crazy idea after thinking.
Note: that is constantly looking for unmet needs. Is there a product or service may be purchased if they were available and affordable? Is there any need Discovered you can not you offered to the public overpowering them and buy them.
Tradition: One way to increase the likelihood of success is to find a model for the project has proved its usefulness and repeat in different market or its evolution and its recovery and sell anywhere. Or consider buying a franchise, where you get not only a model of a successful project, and even get outside support for your business.
It does not matter where it comes from the idea. What matters is what you do with it. Whatever you think that the idea is great, you need some external input, if you will. Even if you do not have the time or money for market research and extensive through specialists, Oaml planning to work, do your own research to see if there was a market for your idea and make the process of assessing the feasibility of the project and put a suitable plan.
You can ask your friends and family, but when you do this, make sure they know exactly what you’re looking for and let them honest feedback your nutrition detailed idea. True friends will be supportive of your ability to succeed, but also they be willing to give sincere advice to follow the sincere idea or canceled.