Function

Description

Finance

The business will need access to capital.  Capital is required to establish the infrastructure of the business and for operating cashflow until the business reaches profitability.

Some  businesses are more capitial intensive than others. Examples: A construction business will more likely require more capital than a beauty salon.

Finance Sources include:
1) Venture Capital
2) Family and Friends
3) Commercial Banks with or without SBA
4) Savings
5) Combination of the above

Management

Management is essential. Management is responsible for Organizing, planning and controling the business.

Product / Service

The product or services must be defined.  What is the Market Segment? Are we B2B or B2C?

Customer Service

This is a very important business compontent.  There are numerous systems to help in this area. www.destinationcrm.com

Distribution

Last, but certainly not least is the distribution or sales process. The distribution process also includes marketing.  Marketing is often essential in generating the desired value in the eye of the  prospective buyer.