It is very important to do thorough research and analysis of the product/service and the market at which the business is being planned before entering and investing the larger chunk of money.
What appears to be the feasible business plan, based on online research and assumed excel working sheets might not necessarily be the case once it goes into execution; and perhaps too late to turn back.
It is important to analyze market sentiments, the cultural mix, the cost of operations and marketing in that region which might differ and vary from region to region also within the market itself.
One size doesn’t not fit all! Various reasons which might include, taxation, cost of operation, cost of labor, local and government compliances, or other may provide different viability and feasibility of a same business or product across different regions.
Therefore, it is the most important & first investment that any business should do before the bigger capital investment. This will not only mitigate the risk, but also ensure viability, feasibility and efficiency of the business.
Brainstorm, discuss and find out with us. Contact us now.