Business concept is the first part of the business plan. It contains 50 words or less that tells us what the business is all about - the main product being sold, the market, the price point (positioning) and the geographical market. It must be easily understood. If an average student can not understand it, then the concept is too complicated to start or execute.
The business concept must be differentiated, compelling, unique, competitive for it to be a successful start up. If you will start something that is me too, then you are not an entrepreneur, and the business is likely unsustainable or might fail.
This is a critique of the food trip exercise submitted. Many failed to address the basics of the business concept
No comments:
Post a Comment