Idea Validation: Assess the feasibility and viability of the business idea through market research and analysis. Stakeholder Identification: Identify all the stakeholders involved and understand their expectations and requirements. Defining Objectives: Set clear, SMART goals that align with your business vision and strategy. Resource Planning: Determine the resources needed, including human, financial, and technological assets. Risk Assessment: Conduct a thorough risk assessment to identify potential hurdles and develop mitigation strategies.