Transcript 3.02 Entrepreneurial Process PowerPoint

Entrepreneurial Process
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Discovery Phase
Concept Development
Resourcing
Actualization
Harvesting
Discovery Phase
• Thinking about
starting a business
• Conducting surveys
– Collect data
• Email surveys
• Store samples
– Review data
– Interpret data
• Who are your customers
• What products do we offer
Concept Development
• Develop a business
plan
• Decide where to
place the business
• Rent a building
• Copyright websites
and trademarks
Resourcing
• Acquire capital
(money)
– Apply for a bank
loan
– Secure investors
• Hiring employees
Actualization
• Grand opening
• Company is in
operation
• Promotional sales
Harvesting
• Create 5 & 10 year
goals and plans
• Open additional
stores