Asked by Earlene Isaac on Feb 18, 2024
Verified
The first step entrepreneurs should take before starting a crowdfunding campaign is to begin manufacturing the product.
Product
Anything tangible or intangible (such as a service) offered by the company.
- Identifying the target audience and market for the product.
- Conducting market research to assess the demand and competition.
- Understanding the purpose and benefits of crowdfunding for entrepreneurs.
Verified Answer
SM
Sydney Morgan
Feb 18, 2024
Final Answer :
False
Explanation :
The first step before starting a crowdfunding campaign is to conduct market research and create a solid business plan. Manufacturing should only begin once the campaign has been successfully funded.
Learning Objectives
- Identifying the target audience and market for the product.
- Conducting market research to assess the demand and competition.
- Understanding the purpose and benefits of crowdfunding for entrepreneurs.
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