Unleash Your Business Ideation Potential
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Questions and Answers

Which of the following best describes the process of transforming a business idea into a viable business?

  • Selling the idea to interested investors or firms
  • Finding good locations for the business
  • Having a background and experience in the industry
  • Applying the idea at the right time to meet demand (correct)

    • What is the importance of timing in the success of a business idea?

  • Timing is important for selling the idea to investors
  • Timing has no impact on the success of a business idea
  • Timing is only important for finding good locations
  • Timing can determine whether a business idea will fail or succeed (correct)

    • Why do Babu and Hari believe that opening a small cafe is their best option?

  • They have secured funding for the cafe
  • They have a lot of business ideas
  • They have a background and experience in the hospitality industry (correct)
  • They have found a good location for the cafe

    • What is the role of feasibility and a business plan in selling a business idea?

    <p>Feasibility and a business plan can help sell a business idea to interested investors or firms</p> Signup and view all the answers

    Where can business ideas be sourced from?

    <p>Business ideas can be sourced from different sources</p> Signup and view all the answers

    Which of the following is NOT a potential buyer for a viable business idea?

    <p>Individual consumers</p> Signup and view all the answers

    What is the key factor that can lead to a very profitable business?

    <p>Timing of introducing the ideas</p> Signup and view all the answers

    What is the role of feasibility and a business plan in selling a business idea?

    <p>To attract interested investors</p> Signup and view all the answers

    Why does Babu want to spend more time before starting the small cafe business?

    <p>To evaluate the feasibility of the cafe business</p> Signup and view all the answers

    What is the significance of application and timing in the success of business ideas?

    <p>They differentiate between failure and success</p> Signup and view all the answers

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