THE VERIFICATION PROCESS
The decision to pursue an opportunity begins with its identification and the determination that it is congruent with all that the entrepreneur has to give. Does she or he have the technical, physical, mental, and emotional ability to fully exploit the situation? If the answer is positive, the next step is to test the efficacy of the opportunity in terms of the market, technical criteria, costs, operations and delivery. See Figure 10.4.
Three sector are the focus for the verification process: the market, the delivery and the environment. The most important first phase begins by examining the market and its promise for the new venture. This is followed by an examination of the ability to produce and deliver the goods, while surviving elements in the macroenvironment. It is usually the procedure to examine all sectors, obtain hard facts concerning various areas that might impact on the venture, all at the same time. Most entrepreneur, various areas that might thusiasm for the new project, charge off in search of hard evidence that will support and encourage the vision they have of the venture. But the most important question is whether in fact there is a solid market.