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Is now the time to start a business?
Is now the right time to start a business? Considerations The state of the economy You The product / industry sector your business is in Your competition
[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],You
A B C At Point A the product or service is new to the market and awareness is building, sales slowly increase At point B people are aware and excited and more sales are generated At point C competing products emerge and sales for this product decrease The product / industry sector your business is in
If you are entering an established market, there a risk that the market will fall where people look for alternative products using the latest fashion or technology. It is far better to enter growing markets to take advantage of the excitement rather than competing against established companies that have a good reputation. The product / industry sector your business is in
[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Your competition
[object Object],[object Object],[object Object],[object Object],[object Object],State of the economy
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[object Object],[object Object],[object Object],[object Object],[object Object]
[object Object],[object Object],[object Object],[object Object]
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Strengths Weaknesses ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Opportunities Threats ,[object Object],[object Object],[object Object],[object Object]
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Is starting a business right time for you

  • 1. Is now the time to start a business?
  • 2. Is now the right time to start a business? Considerations The state of the economy You The product / industry sector your business is in Your competition
  • 3.
  • 4. A B C At Point A the product or service is new to the market and awareness is building, sales slowly increase At point B people are aware and excited and more sales are generated At point C competing products emerge and sales for this product decrease The product / industry sector your business is in
  • 5. If you are entering an established market, there a risk that the market will fall where people look for alternative products using the latest fashion or technology. It is far better to enter growing markets to take advantage of the excitement rather than competing against established companies that have a good reputation. The product / industry sector your business is in
  • 6.
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