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Questions and Answers

What are the key considerations in the early stages of establishing a business?

Business Idea Clarification, Target Market Identification, Problem-Solution Fit, Preliminary Market Research, Basic Financial Considerations, Legal and Regulatory Considerations

What are the components of business idea clarification?

Clearly articulating the business idea, defining the product or service, and identifying what makes it unique or valuable

Why is it important to conduct preliminary feasibility analysis?

To answer fundamental questions about the business concept, understand the industry, competition, potential demand, and financial aspects

What does 'Problem-Solution Fit' involve?

<p>Ensuring alignment between the business offering and a problem or need in the market, and addressing specific challenges or fulfilling demands</p> Signup and view all the answers