Explain why it is important for entrepreneurs to talk with industry experts when developing new business concepts(10 Marks)

Find the explanation below.

Explanation:

It is important for entrepreneurs to talk with industry experts when developing new business concepts because they provide valuable information on the intricacies required to be successful in the business. The industry experts have acquired enough experience that makes it possible for them to provide advice on the;

1. right tools and technologies that would guarantee smoother business

2. the legal standards that must never be compromised

3. logistics management that is cost-effective, as well as,

4. trending and profitable industry procedures.

It is only normal that people with more and vast experience in a field would have valuable information that would prove useful to start-ups. Associating with such people would result in better business decision-making.

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