Basic Skills Of Starting A New Business

Question 0

What is Creative Thinking?

Answer 0

Coming up with an idea for a product or service that can fill people’s needs or wants.

Question 1

What are the 5 basic knowledge and skills necessary for beginning any new business?

Answer 1

Creative thinking
Research
Planning
Gathering resources
Production and marketing

Question 2

How does researching help the starting of a new business?

Answer 2

Identifying Customers
Checking out the Competition
Locating Suppliers
Taking a Hard Look at Costs
Checking out Legal and Regulatory Restrictions
Planing

Question 3

What are The Nine P Questions to Ask When Formulating a Business Plan?

Answer 3

1. Purpose. What’s the purpose and mission of your business?
2. Processes. What will you do in your business to fulfill your purpose and accomplish your mission?
3. Place. Where will your business be located? Or, in the new age of e-commerce, where will it do business?
4. Product. Whether you intend to sell new age food supplements, advice for parents, or a lawn service, what in fact is your product or service?
5. Personnel. Who, besides yourself, will be necessary to make your business work?
6. Promotion. How will you effectively promote your business or service? Through advertising? Word-of-mouth? Through promotional literature?
7. Price. What will you charge for your products(s) or service(s)?
8. Projections. How will your enterprise generate income and earn a profit?
9. Performance. How will you effectively measure your enterprise’s per formance?

Question 4

How does Gathering Resources help start a new business?

Answer 4

Gathering resources means getting people, money, and tools into an organized enterprise that can help you realize your business plan.