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Don't Launch a New Business Venture Without a Trial Run

 
  Michael K. Menerey, Partner, CFO Edge, LLC  
   
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  Article Summary  
Many entrepreneurs - both first-timers and veterans - plunge directly into launching new ventures without first vetting their ideas.

Not testing a new business idea prior to full launch risks wasting time and money when the venture doesn't fully lift off - or never gets the traction needed to succeed over the long term.

This article advocates testing a new business idea on a smaller scale to gain needed intelligence about the offering, the target market, and overall viability. Reviewed are three inexpensive ways to test a new idea prior to a full launch.

Also discussed are seven important "moving forward" steps that must be addressed once the idea's viability has been demonstrated.

Investing in preliminary research and testing delivers the critical intelligence needed to make a "go/no go" decision, and entrepreneurs considering a new business venture can benefit from talking with a provider of outsourced CFO services.

An experienced resource of this nature can provide the comprehensive expertise needed to fully vet the concept and move forward with a successful launch.

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