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After selecting business idea suitable to your passion and relevant to your skills, you need to recognize the opportunities for it. But mere finding business ideas and recognizing opportunities are not enough. You need to find whether your business idea is viable or not. It means that you can physically test its application that whether it is feasibility possible or not. Whether it is worthwhile or not? Whether investing your time and money can give business stability and growth or it will fail at the end? To know this fact, we do Feasibility Analysis or Feasibility Study of the business. Basically, you are going to test your business idea whether it will gain success or will fail and whether you can start and run the business for long period of time with stability. There are many aspects of Feasibility Analysis but following are the main parts or sections of it and we discuss these parts one by one. 1. Product or Services Analysis We tes...

The Boom and Depression period are the essential periods in the life cycle of the business. When the businesses try to overcome depression and wants to gain profitable business, businesses actually try to stabilize the business. Stability of the business is very important in order to run the business successfully for the long period of time. Here are some of the important steps to be taken by entrepreneurs to stabilize the business and gain success in the life of business. 1. Finance Businesses should have enough finance to carry on the business and in case of depression period, the business uses its reserves to maintain stability in the business and be able to perform its daily working operations. 2. Innovation An entrepreneur must create new things to update to the latest market trends in order to meet the demand of the customers. New technologies, new ways of improving the products and services, packaging and designing of produc...

Entrepreneurship plays an important role to an individual, to an economy, society and larger firms. Here we discuss how effectively, an entrepreneur change the life of an individuals, change the society, change the economy level with different channels and create competition and challenge for larger and big companies. Importance To An Individual New Opportunities To Individuals Entrepreneurship creates many opportunities to an individual. He / she thinks big and creates something new that is unique and acts on these business ideas suitable to their skills. He can produce new products and services for viable business. For example, he / she writes books and sell it on Amazon, eBay or sell directly from their website or supply to the marketplace. An Entrepreneur can provide beauty and health care center, provide SEO Services, Instructor facilities and so on. He used updated and new techniques to buy and sell the products. Create Job Opportunities...

The entrepreneurial process means that people want to establish their own business ideas and pass through different steps in order to create and build their business ideas into reality and then want to grow and stabilize the business in order to fulfill their interests that are suitable to their skills. There are five steps in the Entrepreneurial Process: 1. Deciding To Become An Entrepreneur and Developing An Idea Because people decide to become an entrepreneur and develop an idea for business. Because, people hates to work under the control of boss and wants to be own boss. They have special idea for the business. For Example, they want to run small business successfully. Examples are health and care business, consulting services businesses, selling of finished products like juices, ice creams, biscuits and so on. They want to run online business like blogging, freelancing, establishing E-Commerce sites, buying and selling domain and web hosting businesses...

Start-UP Entrepreneurs are those who carry on the business in its early stage of life. There are many forms of start-up entrepreneurs. Here, you must be noted that businesses can be run either with the use of internet or without using it or either full time online business can also be established with the use of Internet. Start-up businesses may include larger to smaller based businesses like, online home based business, consulting services, blogging, freelancing, accounting firms, legal advisers, Online teaching like becoming instructor in udemy, article writings, manufacturing companies, selling of finished products or services like in Amazon, seller can sell their products to their buyers through Amazon. Google provides useful information to users. 1. Small Home Based Business In this business, people can sell their products directly from their home either physically or virtually. Physically means selling through their homes like establishing beau...