I don't know what my business is about, how should I go about learning the basics? [closed]

Question

I'm an Engineering Student, I've made a product, and I want to market it. Apologies if this is in the wrong group.

I've spent ages on all the video learning websites, trying to understand how to brand my business selling said product and how to get investment and all that. But I'm clueless whenever I come across what seem to be key concepts about what my business would stand for

For example: When thinking of a business name, a website asked "what is it that your business really does" and another said "think of the ethos that surrounds your business"

While I understand the questions, I draw a complete blank. I know what my product is and who I want to sell it to, sure, but I don't understand how to answer these questions in the "correct" way.

The best way I can describe how I feel is how an amateur would feel trying to critique a painting. I know what I'm looking at, but I lack the basic skills to articulate my point. Anything I say feels like I'm not quite sure what I'm talking about.

Are there any good books or concepts I should research in order to learn these skills, in order to know what it is I want to do, and more importantly, to be able to articulate that and other answers effectively? Or is this something that is dependant upon how much effort I have actually put into the idea of this potential business, and am I missing important groundwork that would make those answers easy, due to focusing on what I want to do?

Answer 1

Although the question is off-topic (you do not talk about problems at your current job), I will give you a hint.

You need to take some classes (or study by yourself) about entrepreneurial management.

Finding a name for the business is the least of your concerns. You need to care at least about:

• strategic management;
• economics;
• marketing;
• others.

They are all entire study fields. If you do not have excess money in abundance, you should do your homework first.

The main documents you have to create before starting the business:

• the business plan;
• the marketing plan.

While actually creating these files, you will actually understand if your business has any chance of success.