Create a financial model including

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6. Calculate financial stability
It is important to understand whether your business will be profitable and what investments will be required.
How to check:
Initial costs.
Operating expenses.
Income forecast.
Calculate the break-even point.
Check the availability of financing (own funds, loans, investors).
Tool: Use Excel or specialized programs such as LivePlan to create financial models.
Tip: Create several business development list of turkey whatsapp phone numbers scenarios (optimistic, realistic, pessimistic) to better understand the financial risks.
business ideas
7. Check the legal and regulatory framework
Make sure your idea is legal and that you have all the necessary licenses and permits.
How to check:
Consult with lawyers or use online services such as LegalZoom.
Research regulatory requirements in your industry.
Register intellectual property if necessary.
Infobox: "Early legal documentation can protect you from potential disputes and claims in the future."
Example: A manufacturer of a new technology filed for a patent, which helped protect it from competitors and increase the company's value in the eyes of investors.
business ideas
8. Collect feedback
Early feedback from customers and experts will help you refine your idea.
How to check: