Assessment and Evaluation of Entrepreneurial Opportunities

Presented By Ujjwal Suryawanshi Roll No 0339

Phases in New--Venture Start ups

Prestart Phase : Begins with an idea for the venture and ends when the doors are opened for business. Start-up Phase : Commences with the initiation of sales activity and the business is firmly established and beyond short- term threats to survival. ost start -up Phase : P Lasts until the venture is terminated or the surviving organizational entity is no longer controlled by an Entrepreneur.

The five specific feasibility phases that a new venture will go through
1. Technical feasibility : whether the product or service will meet all technical criteria and tests for serviceability that are measurable. 2. Marketability : the product must be salable and marketable to the public with a plan for promoting, pricing, and distributing the product to consumers or customers. 3. Financial feasibility : Required finances are compared to available financial resources.

4. Organizational capabilities as far as the personnel needs and requirements. 5. Competitive analysis of existing, as well as potential, competitors.

The Evaluation Process

Three major reasons why new ventures fail

Poor timing for the start of a new venture :- A new product might be put on the market before a real need for the item exists or it may be introduced too late, when there is little demand for the product. Rapid product obsolescence :- The life of a product needs to be assessed as important discoveries are always being made in updating the product's usefulness Faulty product performance

Pitfalls in Selecting New Ventures

Lack of Objective Evaluation No Real Insight into the Market. Inadequate Understanding of Technical Requirements. Poor Financial Understanding. Lack of Venture Uniqueness. Ignorance of Legal Issues.