Basic Requirements for Entrepreneurship Initiatives in Livestock and allied sector
BASIC REQUIREMENTS FOR ENTREPRENEURIAL INITIATIVES IN LIVESTOCK AND ALLIED SECTOR
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Techno-Economic feasibility of the enterprises under different conditions
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A number of critical factors are important for new-venture assessment. One way to identify and evaluate them is with a checklist. In most cases, however, such a questionnaire approach is too general. The assessment must be tailor-made for each activity.
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A new venture goes through three specific phase: pre start-up, start-up, and post start-up. The pre start-up phase begins with an idea for the venture and ends when the doors are opened for business. The start-up phase commences with the initiation of sales activity and the delivery of products and services and ends when the business is firmly established and beyond short-term threats to survival. The post start-up phase lasts until the venture is terminated or the surviving organizational entity is no longer controlled by the entrepreneur.
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The pre start-up and start-up phases, are the critical segments for entrepreneurs. During these two phases, five factors are critical:
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The relative uniqueness of the venture,
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The relative investment size at start-up,
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The expected growth of sales and/or profits as the venture moves through its start-up phase,
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The availability of products during the pre start-up and start-up phases, and
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The availability of customers during the pre start-up and start-up phases.
New - venture idea checklist
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Basic feasibility of the venture
- Competitive advantages of the entrepreneur with reference to venture
- Customer interest in the product/service
- Production of the goods and services
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Marketing of the goods and services
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Staffing decisions in the venture
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Control of the venture
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Financing the venture
- Sustainability of the venture
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Last modified: Tuesday, 24 April 2012, 9:13 AM