Posted on Friday, 27th March 2009 by Lee
This great podcast from Businessweek has Ed Hess, Professor of Business at University of Virginia talking about some critical things new entrepreneurs need to think about as they plan their business. He also touches on the phases that startups must go through as they grow from a new to an established business. Listen it here.
His important points are that new startups must first consider whether they have a compelling products, whether the customer base is large enough and whether the “math” works, other points include pre-planning which wherher you must consider 1) Cost - how much is every aspect of the new business going to cost 2) Competitors - what are they doing and how is your business different 3) Math - how much do you need to sell to survive 4) test the products with customers.
Tags: business, entrepreneur, new business mistakes, startups
Posted in Business Guides | Comments (0)
