The birth of a new enterprise is, in fact, similar of the birth of a human child with the difference, of course, that the gestation period for a business unit varies according to the nature of work under-taken by it.The customer is the foundation of all the business an it is he who keeps a business going. It is, therefore, imperative for an entrepreneur to conduct an analysis of the product and its market from the view point of the customer.The size of the firm or the scale at which the proposed enterprise is to be started is an important factor in the physical planning of the new business unit.The choice of the area where the proposed factory will be set up and the selection of a specific site in such area is yet another problem that will engage the attention of an entrepreneur.
The next stop for a manufacturer-entrepreneur will be to take a decision on the processes of production to be used and the equipment to be installed. The successful organization of a new enterprise entails no only physical planning but also expert financial planning.
Like this way business has to be started and run.
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