Organise your group to cover the different business areas, normally production, marketing, finance and reporting. Do your market research to see if the market will want what you intend to provide and set out a plan to organise how and when you will make and sell your product or service.
Market research is the process of collecting valuable information to help you find out if there is a market for your proposed product or service. The information gathered from market research helps budding entrepreneurs make wise and profitable business decisions.
In this module you’ll learn about the important questions you need to ask yourselves as you enter this production phase, the five steps to production success and why stock control is so important to your business.
Having manufactured your product or started delivering your service, your next step is to let your potential customers know about it. Nobody is going buy your product or use your service if they don’t know about it!