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Requirement
Question 1: Briefly describe your business idea and state the reason why there is a need for your business. In other words, what market problem are you solving or what market opportunity are you fulfilling?
Question 2: How did you come up with your sales numbers? What will you do if they come in at ½ of the estimated levels?
Question 3: What are you going to do when a competitor sees how successful you are and starts doing exactly the same thing?
Question 4: How would you respond to an investor who says:
Why should I give you the money? You have no proven track record. I can go out and find someone who has already done this and has proven that they can do it.
Solution
Answer 1:
Business idea
The world requires more advance inscribing ink on the paper. The printing has shifted from paper to cloth, wood, ceramics and other plain surfaces. The 3D printing is defined as the process which is used to synthesize the objects three dimensions. The layers of materials are successively created under the control of the computer which helps to create an object. The shapes of the object can be geometric, or any other. The picture is printed from the 3D model or electronic data source for example: Addictive manufacturing file. The company will be selling 3D printing machines. The target markets will be the industrialists.
Need of 3D printer business
The 3D business helps to solve the problem of looking the tangible and intangible goods over the desktop which helps to see the three dimensions of objects at the same time. 3D printing business is the big innovation for the print industry.
Market problem-solving
It helps to solve the problem regarding the exact view of the picture which enables the buying decision of the consumers regarding the online shopping. The 3D printing can be done on the plastic, nylon, metal and other materials.
Market opportunity
The 3D printing business creates a wide range of market opportunities which creates high profitability for the and high business growth over the span of time. The growth for 3D printing business force to create new technologies which create many business opportunities for the entrepreneurs. Following is the list of market opportunities:
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1. Production of Jewelry
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2. Toys manufacturing
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3. Printing of video games characters
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4. Printing customized pets
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5. Bio printing
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Answer 2:
The estimated total sales for 1 month are $200,000. If the actual sales are half of estimated sales, then we will analyze the reason and take measures to improve the sales volume of the company.
Answer 3:
Dealing with competitors
If the competitors start doing the same thing then following measures will be taken:
1. Competitor advantage
The competitor advantages help to compete for the competitors in the market. The advantage includes providing superior and distinct service in the market. The pricing and concentric consumer strategy help to create competitive advantage.
2. Innovation
Innovation helps to beat the competition by introducing new technology which attracts the consumers and creates the brand image in the competitive market.
3. Marketing strategy
The marketing strategy is created to distinct the brand in the market through providing the best quality and quantity of goods and services. The promotional activities help to create the brand in the eyes of the consumers which develop the goodwill. The branding helps to create the distinct image in the eyes of the consumers which develop the goodwill of the business.
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Following are the reasons which help to attract the investors:
1. Providing proof of statements
The business proofs help to attract the potential investors who are in the form of case studies. The route of the business plan with the proof and financial projection help to prove that the investment will grow money with a particular period of time.
2. Robust research and development
The strong research and development help to provide a more appropriate projection of statements which helps to prove the worth of an investment.
3. Ensures secure investment
The ensuring of secure investment through trust building and healthy relation helps to attract the investors.
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