What should Ryan and Tish prioritize in the initial stages of their business development?

Prepare for the Milady F10 Beauty Business Test with our comprehensive quiz. Study with flashcards, get exam hints, and detailed question explanations to ace your exam!

In the initial stages of business development, it is crucial for Ryan and Tish to focus on researching and planning their business model. This foundational step involves understanding the market, identifying their target audience, assessing competition, and outlining their service offerings. A well-researched business model provides the structure and strategic direction necessary for sustainable growth.

By prioritizing this research and planning phase, they can make informed decisions about their business strategies, financial projections, and potential challenges they may face as they start. This groundwork is essential for establishing a solid foundation upon which they can later build their brand, expand, and potentially increase their team size. Focusing on business development through research and planning significantly increases the likelihood of long-term success as they adapt their model based on the insights gained during this process.

Subscribe

Get the latest from Examzify

You can unsubscribe at any time. Read our privacy policy