The Entrepreneurial Process

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    19-Aug-2014

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8th Exploring Business Technologies BU20

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ENTREPRENEURIAL PROCESS The https://www.flickr.com/photos/kevcole/3879355176 The 5 steps of the entrepreneurial process Discovery#1 https://www.flickr.com/photos/kubina/123862186 Discovery#1 The stage at which the entrepreneur generates ideas, recognizes opportunities, and studies the market. https://www.flickr.com/photos/kubina/123862186 Discovery During the Stage The Entrepreneur will Hobbies & Consider their https://www.flickr.com/photos/nick_moise/5755276989 Skills Needs & Consider consumer https://www.flickr.com/photos/eyrephotographyaustralia/7439901436 Wants Research https://www.flickr.com/photos/nomadic_lass/6820209341 the market Concept #2 https://www.flickr.com/photos/jonathankosread/8244072348 Development Concept #2 When the entrepreneur develops a business plan, chooses a business location, and determines if a patent/trademark is needed https://www.flickr.com/photos/jonathankosread/8244072348 Development Concept During the Development The Entrepreneur will Stage Formal & Write a Detailedplan for the business https://www.flickr.com/photos/us-mission/6934698739/ Resourcing #3 https://www.flickr.com/photos/peasap/935756569 Resourcing #3 When the entrepreneur acquires the needed financial, human, and capital resources for the business to start. https://www.flickr.com/photos/peasap/935756569 Resourcing During the The Entrepreneur will Stage Investors & Locate Revenueresources https://www.flickr.com/photos/jurvetson/5437885444 Employees Hire https://www.flickr.com/photos/ansik/3218139011 Actualization #4 https://www.flickr.com/photos/pagedooley/3057952953 Actualization #4 When the entrepreneur has opened the business and is actively operating it. https://www.flickr.com/photos/pagedooley/3057952953 Actualization During the The Entrepreneur will Stage Customers & Open the business to Manageday to day operations https://www.flickr.com/photos/arturstaszewski/7049332619 Harvesting #5 https://www.flickr.com/photos/h-k-d/4777491309 Harvesting #5 When the entrepreneur is deciding on the business future growth, development, or ending. https://www.flickr.com/photos/h-k-d/4777491309 Harvesting During the The Entrepreneur will Stage Location or Consider Productexpansion https://www.flickr.com/photos/jdub1980/8726699547 Closing Consider possibly if needed https://www.flickr.com/photos/rickharris/3691522967

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