How to start your entrepreneurial venture

D. Moanes Shujaa

<a style="color: #800000;" href="https://eci.monshaat.gov. Entrepreneurs face difficulties, challenges and unexpected things at the beginning of their projects, which often leads to their exit from the competition and thus the closure of the project, as many studies have indicated that from 80% to 90% of those projects stop in the first year of launch!!!

There are basic steps that must be taken into consideration to make sure that the expectations are realistic and the credibility of studies, market analysis, etc.

• A new idea or solution that is needed by a specific customer segment and solves an issue or fulfills a need.
• Do a feasibility study that identifies the chance of success, the target segment, and the costs needed to operate and succeed in the venture.
• Determine the working capital, whether it is financing or partners" contribution, what tools and equipment are needed for the project in addition to determining the work team and its skills.
• Develop an action plan that outlines goals, steps, and timeframe.
• The idea or product should be beta-tested to gauge customer acceptance and ability to buy it.
• After successful field testing of the product, the project is implemented, preferably in phases if possible.
• Finally, it is essential for the success of any work to be followed up and evaluated to track its course and whether it is going according to the approved plan or needs some adjustments.

We can say that to succeed in any project, all these steps must be taken into account and implemented with professionalism, quality and high accuracy to be crowned with success, God willing.

How to start

How to start your entrepreneurial project