Once the optimal idea, the five basic components that must be considered in the transformation of the basic idea in a business activity:
- The product or service: What is done
- The market: Who it is made for and how it is sold
- The production process: How it is done and how much does it cost to do it
- The human team: Who put the project in motion
- Financing: How to acquire the necessary means
Looking for a simile, a new business activity can be considered to resemble a table, with its four legs (product, market, financing and process) and the upper board (the people who organize and coordinate and generate value added). All the elements are necessary to make up a set, be it a table or a business activity. But continuing with the simile, it is easy to imagine what happens to a table that is missing two legs, as well as what happens in the absence of one or more elements of the set. Except perhaps the assumption of absence of one of the legs, temporarily and until its immediate replacement, any other partial possibility of configuration of the set is condemned failure. Certainly, it is very difficult to achieve in a business activity the perfect balance that we expect from a table, due to the many external and changing factors that act on its basic elements but it is about, fleeing from perfection, avoiding the death of the project and achieving a stable balance even if it is imperfect. Specific corrections or improvements of elements can be made later, looking for the perfect balance, but the absence of any element, causes the business closure in the short term and should be a reason for abandoning our project of future. Although for the purposes of presentation the basic elements of a business project have to be treated independently, the interrelation between them, since the modifications foreseen in an element are sure to affect the final configuration of the elements. the rest. For example, you cannot add or remove technical features of a product without analyzing the market's receptivity to changes, complications that they may generate in the production process, their influence on the price level, investments or divestments advisable, etc.
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