How to get started in a business -Lesson 1
This training aims to provide practical advice on how to get started in a
business,
assessing whether
we have what it takes to identify a
business idea,
how to analyse
whether the idea is a feasible business opportunity, and
if so, to turn it
into reality!
It highlights the
steps you have to take to get started.
The following are the five stages of the entrepreneurial process,
along with the individual traits and behaviours associated with the successful
entrepreneur.
Stage 1: Discovery
The stage in the entrepreneurial process in which the entrepreneur generates ideas, recognizes opportunities, and determines the feasibility of ideas, markets, ventures, etc.
The stage in the entrepreneurial process in which the entrepreneur generates ideas, recognizes opportunities, and determines the feasibility of ideas, markets, ventures, etc.
Stage
2: Concept Development
The stage in the entrepreneurial process in which the entrepreneur plans the venture, identifies needed resources using a business plan, identifies strategies .to protect intellectual property, etc.
The stage in the entrepreneurial process in which the entrepreneur plans the venture, identifies needed resources using a business plan, identifies strategies .to protect intellectual property, etc.
Stage
3: Resourcing
The stage in the entrepreneurial process in which the entrepreneur identifies and acquires the financial, human, and capital resources needed for the venture start up, etc.
The stage in the entrepreneurial process in which the entrepreneur identifies and acquires the financial, human, and capital resources needed for the venture start up, etc.
Stage
4: Actualization
The stage in the entrepreneurial process in which the entrepreneur operates the venture and utilizes resources to achieve its goals/objectives.
The stage in the entrepreneurial process in which the entrepreneur operates the venture and utilizes resources to achieve its goals/objectives.
Stage
5: Harvesting
The stage in the entrepreneurial process in which the entrepreneur decides on the venture's future (growth, development, demise).
The stage in the entrepreneurial process in which the entrepreneur decides on the venture's future (growth, development, demise).
Where you would like to be two years from
now. What is your vision or lengo?
o Who
will I be in 2 years from now?
o What
will be my personal and my business situation?
o How
big will be my business?
o Will
I have reached what I wanted to?
o What
do I have to do to get where I want to be in 2 years?
o What
are the necessary means for doing this?
o Who
could help me in that?
o What
obstacles will I possibly face, how can I overcome them?
o What
is my competitive advantage?
o What
are my weaknesses and how will I ensure they are not a hindrance?
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