The fourth step in the initial (pre-planning) phase of the entrepreneurial process is ________.
A) exploring finance options
B) researching the venture's feasibility
C) pinpointing potential competitive advantages
D) identifying potential opportunities

Question

Quizplus · Accepted Answer

A) After identifying both a promising opportunity in the marketplace and competitive advantages you might have in developing this opportunity, the third step in of the process involves gauging the feasibility of the project. Once all of these other steps have passed muster, the final step of the process is to see whether your ideas are fundable. This may involve having discussions with banks and other sources of capital and explaining your plans and qualifications to them.

The Fourth Step in the Initial (Pre-Planning) Phase of the Entrepreneurial