Market Opportunity:
It is very important to understand the importance of being different from your competitors.Also,the product which is under development should have a sustainable market and hence,the market growth should be planned out well in advance.Well,market growth is difficult to estimate but there should be a figure in mind else you are heading to a market which may not exist after few years!!!
Team:
This is one of the most important aspects in business.A single person,technically very sound cannot build a great company and he needs good people with him.Hence,the management should be of the right composition and yes not to forget,“Lack of passion leads to disaster”.
Product or Idea:
The emphasis is basically on a product which can sustain competition over a period of time.A product hitting the market too early(with many open bugs) is a problem as well as the product launched too late(when you have other players competing with you)is also a problem.Hence,when it comes to product,the important thing is “Be there before its too late”
Funding:
Well,this is what Vani has to say on “Venture Capital Funding”
“It is important to evaluate the experience and track record of the venture partner funding the company. Can they provide access to management, deals and powerful networks? Do they have the time to mentor the entrepreneurs and provide operational guidance? The involvement of the venture partner is critical to transform nascent ideas into higher value businesses”
Below is the elaboration of what Vani has to say:
Guess what I was able to find a mistake in one of the articles on Vani’s site which was published by by USA Today.I know you would appreciate my effort in finding this small error 🙂
