When deciding whether a business concept is
viable, it is essential to determine its competitive
advantage and whether it is strong enough. While a
company needs to do all of the following to be
successful, barriers to entry are particularly relevant
and must be carefully considered when attempting
to
sell to a market in which the
competition is succeeding but is not
so powerful as to make it
impossible for a new entrepreneur
to enter.
a
b
sell to a market that is large and
growing
sell to a market in which the
competition is able to make a profit
d
sell a product or service that solves
problems consumers may have
with the competition
e
sell a product or service at a
competitive price that will attract
customers