Once you have a business idea, you must ask yourself, «Will anyone want to buy my product / service?». Market research tells you about your customers, competition and pricing, as well as your likely sales volume, costs, investment and profitability.
Will anybody want to buy my product / service? Who? Why? (and Why from me?) When? (and How often?) Where?
Menna Abu Zahrahar citeratför 3 år sedan
However, even at this early stage, it is a good idea to estimate (even crudely) the minimum size or capacity at which you will make a profit – the break-even point – as well as the maximum operating capacity that you can afford to establish.
Menna Abu Zahrahar citeratför 3 år sedan
As part of your business planning, you will prepare financial projections for inclusion in your business plan.