10 points for future entrepreneur

 

An entrepreneur is a person who wants to start its own business and wants to create employment. I want to explain some points which you can use if you want to become an entrepreneur:-

  • Identify the trend of the market

          -For this you can take the data from the search engines.

  • Indentify the potential market and potential customer.
  • Determine that whether the sector in which you want to enter is on the introduction or growth or saturation or at the decline level.

        -The perfect time is the introduction and growth level to take the strong    position in the market.

  • Indentify the competitors present in the market.
  • Determining the cost occurred to prepare the product and service & determining the right price for your product.
  • Determine the scope of product & service for the international markets.
  • Compare your own products and its price with the competitors.
  • Determine the way to promote your product or service such as whether you will choose the advertising or sales promotion or any other way.
  • Determine your distribution network to reach your customer.
  • Determine the requirement of people and its salary.