Basic Requirements for Entrepreneurship Initiatives in Livestock and allied sector

BASIC REQUIREMENTS FOR ENTREPRENEURIAL INITIATIVES IN LIVESTOCK AND ALLIED SECTOR

Techno-Economic feasibility of the enterprises under different conditions

  • 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.
  • 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.
  • The pre start-up and start-up phases, are the critical segments for entrepreneurs. During these two phases, five factors are critical:
    • The relative uniqueness of the venture,
    • The relative investment size at start-up,
    • The expected growth of sales and/or profits as the venture moves through its start-up phase,
    • The availability of products during the pre start-up and start-up phases, and
    • The availability of customers during the pre start-up and start-up phases.

New - venture idea checklist

  • 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
  • Marketing of the goods and services
  • Staffing decisions in the venture
  • Control of the venture
  • Financing the venture
  • Sustainability of the venture
Last modified: Tuesday, 24 April 2012, 9:13 AM