Stages for starting New Venture

By : Deepak Sharma

‡ ‡ ‡ ‡ ‡ Scanning the environment Product Development &Selection Project Report Preparation Project Appraisal Resourcing .

technological &changing the life style.Scanning the Environment Understanding of socio-culture. . economic.

What are the sources? ‡ Informal Sources a. . etc. Family b. Friends d. Social contacts. Customers c.

‡ a. c. ‡ a. Written Sources Magazines &General Books. Formal Sources Bankers Business councilors. b. etc. Newspapers &Newsletters Impersonal Oral Sources Trade shows Seminars &workshop Professional organizations . b. b.‡ a.

b. . etc. d. c.Product development &Selection ‡ a. Creativity &Innovation Solving People¶s Problem Brain storming Market research Changing fashion & Life style.

Project Report Preparation .

Project Appraisal ‡ ‡ ‡ ‡ ‡ ‡ Technical appraisal Financial appraisal Economic appraisal Management appraisal Operational appraisal Organization appraisal .

‡ Technical resources technical know-how.Resourcing ‡ Physical resources premises. designs etc. ‡ Financial resources ‡ Human resources ‡ Marketing resources . etc. tools. supplies of raw material.

? Market research: W? .Pre.start-up activities What is the purpose of the venture? What does entrepreneur want to accomplish with the business? Business concept defined Product Market Survey Product research :Is the product or Service feasible? Realistic.

? Etc. Pre -start-up implementation Getting ready to start .Financial planning Financial projection: What cash needed? How will income generated? What is invested.

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