The only way to determine if your ideas can potentially be profitable as a business and is worth pursuing further is to conduct feasibility studies. The purpose each entrepreneur should conduct a detailed feasibility assessment or study is to test if that business idea makes: Personal Sense, Business Sense, Market Sense, and Financial Sense. Without looking at the personal aspect, business concept, the market, and the financials, as well as analyzing the data and information, an entrepreneur is likely not to be successful or not as successful as s/he would like to be. A business plan is an essential roadmap for business success. A business plan provides direction, keeps you on track and is usually a requirement when you seek finance. A business plan is a formal grid map of all of your business goals, and plans on how to achieve them. Entrepreneurial skills assist Small scale industries generate growth and development of new ventures in developing economies. At the entrepreneurship development level, a key role of the programme is to develop tools and programmes that deal with the long term effects of entrepreneurial culture.
We believe that preparing a business plan is important for any business regardless of its size or nature. To make it easier here are few project profiles for planning a business:
Projects covered in this issue:
•Dehydrated Onion
•Electric Motors
•Essential Oil Extraction (Jasmine and Tuberose)
•Virgin Coconut Oil
•Synthetic Red Iron Oxide
•Macaroni, Vermicelli, Noodles and Instant Noodles with Tastemaker
•Dish Wash (Liquid & Soap Bar) and Detergent (Liquid Soap Bar and Powder)
•Phenolic Foam
•Dal Mill (Pulse)
•Porcelain Insulator
•Curcumin Extraction Unit