It is important to put the new company in an appropriate context, first do an environmental analysis to identify trends and changes at the national and international level that may influence it. Examples of these environmental factors are:
Economy – the entrepreneur must consider trends in GDP, unemployment by geographic area, disposable income, etc.
Culture – an assessment of cultural changes may consider population migration by demographics, such as the growth of the elderly population.
Technology – advances in technology are difficult to predict. However, the entrepreneur must consider the technological advances that can be determined from resources made by large industries or the government of the country.
Legal precautions – The entrepreneur must be prepared for any future legislation that may affect the product or service, the distribution channel, the pricing or promotion strategy. Price regulation, media advertising restrictions, and safety standards that affect the product or its packaging are examples of legal limits that can affect the marketing program.
All of the external factors cited are generally uncontrollable. However, as indicated, awareness and evaluation of these factors through the use of some of the identified sources can provide strong support for the opportunity and be invaluable in developing an appropriate marketing strategy. When the environmental assessment is complete, the employer must do a sector analysis, focusing on specific trends.
Industry demand – demand related to the sector is generally available in publications. Knowledge of the growth or decline of the market, the number of new competitors and possible changes in consumer needs are important issues when trying to verify the business potential that can be carried out by the new company.
Competition – The business owner must be prepared for these threats and be aware of who their competitors are and what their strengths and weaknesses are, so that you can plan an effective marketing plan.
The project description allows the investor to verify the size and scope of the business. The section should begin with the mission statement, or company mission, of the new company. This statement basically describes the nature of the company and what the entrepreneur hopes to achieve with the company. The definition of the mission statement or business will guide the company in long-term decisions. After the mission statement, some important factors should be discussed that provide a detailed description of the project and insight. Among the key elements are the products or services, the location and size of the business, the personnel and equipment needed, the history of the entrepreneur(s) and the history of the business.