Viability is defined as the ability to survive. In a business sense, that ability to survive is ultimately linked to financial performance and position. It begins with an idea basically in the mind but bringing the idea to fruition and seeing it become a viable business that stands on its own and allows you to live the dream is never easy. The main question would be what makes your business idea viable and of course an understanding of how it would be a success is also important. It takes a lot of research basically and shouldn’t be done in a rush so as to have a viable business identity that will not only make profit but also meet a certain need in society. Good as an idea may seem or sound one ought to work around finding a proper name that will sell the business in itself even without knowing the product. Many at times when connecting or moving around creating networks, the name of your business will allow you to connect more and make people easily relate and definitely know more about how they can engage with your products or services.
Secondly, a proper source market because at the end of it all you don’t just want to roll out products rather you want to be the main point of reference when it comes to your target market. Target market ranges from: children, youth, women, men, families. Etc.
Thirdly and of most importance is to understand the product or service that you wish to roll out. It comes as one of the major points of business viability because it is crucial to the success of your business. Understanding that; most successful entrepreneurs pitched their business out there even before having a good name or the best source market. Proper knowledge and capability to share information about your business allows it to speak for itself and reach out to specific markets if not numerous.
Lastly, it is important to identify a location that will enable easy access to your products and services in the physical and online presence. An enviable set up of your business will make it easier to not only relate with customers but also attract potential investors: people who understand your vision and are willing to partner and propel the enterprise to greater heights.
Now that your business is viable, you have everything in place and are ready to rollout your product here at www.the.founder.co.ke we can only wish you success and keep on striving to greater heights.
Remember The Founder It begins with an idea.
Originally posted 2015-08-22 14:48:47.