Business concept and financing
What is a business concept?
A business concept describes and clearly defines a new idea for a business initiative, whether that be creating a new company or producing a new product for the consumer market. A successful business concept lays out the groundwork for why you have created the idea, what it can solve, who the demographic is and whether it's beneficial enough to invest in it.
An important component of a business concept is the business model, which details the finances of the concept and how to make it profitable. No matter the business concept, it's essential to outline the framework for revenue growth, like how much the product or service might cost and the necessary resources to ensure that it's financially successful.
Business concept step by step
TOPIC 1: Your own Competences and attitudes
The right basic attitude is one of the most important requirements for a successful start-up.
TOPIC 3: Offers, competitors and customers
Knowledge products, services you want to offer and difference from those of your competitors
TOPIC 4: Sales and advertising
Advertising is absolutely necessary, preferably with a targeted strategy, always.