Choosing a Project to start can be a difficult undertaking, especially if you have a lot of ideas, but just cannot make up your mind. But even if you have no idea about what project to start, you have to consider a number of factors in your decision making process.
First few questions that you should asked yourself:-
- Is it a viable business proposition in your area?
- Does it match the needs of your clientele?
- Does the idea fire up your motivation?
- Is it a sunrise industry?
Following factors also keep in mind that:-
- Check it out with basic market research
- Test it out at market place
- Consult with the experts
- Look out for competition in the field
- Your business opportunity
- Project conceptualization
Also taken into consideration 4Ps concepts i.e.,
Ø PRODUCT (Shape, Size and Nature)
Ø PROCESS (Technology to produce the product)
Ø PLACE (Location of Plant)
Ø PARTNER (Technological of Financial
Collaborator)
Once the product is finalised, choices of process technology emerge.