Bharati Jacob is Managing Partner of Seed fund, an early stage venture capital firm
Q: I want to be an entrepreneur. How should I begin? - Ram Narayan
A: For starting a business, you need to ask essentially the ‘what, who, why and how’ questions.
- What is it that you are trying to sell?
- In what way does it help the customers? Why should they buy it? If they have a problem that your company is trying to solve - how is the problem currently solved?
- Why is your solution better than other existing solutions?
- How will you find your customers? How will they find you? How will you make money? What is the price that you will sell at? What will it cost you? Do you have to spend a lot of money to manufacture and distribute the product?
Once you have an idea; then you should study the market and understand the current situation. Barriers can be overcome through hard work, passion and belief in your idea.
E-mail us your questions to nen360[a]nenonline.org. We will select one question that we believe is of interest to most people to be answered per issue.
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