Seda Business Start focuses on the following areas:
The diagram below shows how a business is started. You would have read about this in the SEDA Business Talk section.
A Business starts with an idea, but... You need more than a good idea
It is one thing to come up with ideas, but another to make sure they turn into profitable businesses. For instance, an idea's viability depends on how you bring it to fruition and market it.
there are several guidelines on how to get a successful Internet business off the ground. The following selection of tips the site offers, also applies to other types of business:
- Use an idea only if you know a lot about the subject or are motivated enough to become an expert in that field. The idea should harness your existing talents. Don't, for instance, decide to write scripts for movies if cooking is your great love. Do something you feel passionate about.
- Make sure there is a sustainable need for your product or service. Get to know your market and your competitors. Many plans have failed because innovators failed to identify their competitors.
- Spend time writing a viability study. This will help you compile a business plan. If you have misgivings, try something else.
It's better to spend six months researching a specific area than pumping all of your savings impulsively into a new enterprise that can't work.