Entrepreneurial Process | Stages Involved in entrepreneur Process

Entrepreneur Process Steps by steps

 We are discussing here entrepreneur process all steps that are in practical use in the market. How Become entrepreneurs step by step guide

Concept of entrepreneurs

An entrepreneur who believes in designing a business for the first time, designs according to his own ideas, launching business And he continues running to do business called entrepreneurs.

1. Designs: The entrepreneur designs the business
2. launching: The entrepreneur launch new idea this  business
3. Running: The entrepreneur Running his/her business

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The entrepreneurial Process 7 steps in entrepreneurs

Step 1. Entrepreneur

• Moderate Risk
• Need Achievement

Step 2. Contacts

• Reality of new economy
• Society law

Step 3. Opportunity

• Identify opportunities
• Search opportunity

Step 4. Venture

• Planning the venture
• Organizing the venture
• Launching the venture.

Step 5. Resources

• Seed money
• Venture Funds
• Growth Capital

Steps 6. Management

• Planning
• Organising
• Directing
• Controlling

Step 7. Strategies

• Make right and sound strategies

Entrepreneurs Process explained below.

     The entrepreneur is the one who comes up with the new ideas and therefore the entrepreneur and business both are different things. Then the following are the Process for how to bring new ideas into the entrepreneurial market.

1. Entrepreneur.

Entrepreneurship process firstly Start with entrepreneurs. An entrepreneur is the one who brings entrepreneurship into his business so he is called an entrepreneur. Firstly entrepreneurs take moderate risk in his/her business.

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1. Moderate Risks.

Firstly entrepreneurs take Moderat (average) Risk in his/her business. Entrepreneurs do not take big risks for the first time. You firstly take moderate risk.

2. Need Achievement. 

     An entrepreneur brings his business with the purpose of achieving greater achievement when it comes to industry. They have the filling emotion for achievement in your business. Entrepreneurs don’t think like normal business minds.

2. Contacts (Second Process).

The entrepreneur should pay attention to the contact after the first process is completed. We are looking at the reality of economic and social law.

1. Reality Of A New Economy.

    When an entrepreneur starts a business, he sees what is real in entrepreneurial economics. What is going on in the economy today is what is reality and what we need to do. That’s how to start a business on your own, according to the economy. Unless he sees the reality of the economy, he can’t start a business.

2. Society law

    He should look at the Law of the Society after realities are seen.  Because without the Law of the Society, he cannot start a business. Rules and regulations Government law Must follow.

3. Opportunity

     The third process in the industry is an opportunity. This includes finding and identifying opportunities.

1. Identify opportunities (entrepreneur process)

 An entrepreneur is creative. Entrepreneurs must constantly be innovative. The entrepreneur just wants you to find new opportunities to get started in new markets and levels of development.

1. Search opportunity

An entrepreneur is looking for this opportunity and is called an entrepreneur because he is looking for new opportunities. This is the third step for entrepreneurs. In the market Entrepreneurs create opportunities and businessmen wait for opportunity; this is the difference between entrepreneurs and businessmen.

4. Venture (Entrepreneur process)

An after opportunity process entrepreneurs

The entrepreneur dares to organize and launch planning in this process for his business.

1. Planning the venture (entrepreneur process)

    Entrepreneurs are planning for his business in the process, which is how far they want to try the business. Where To Run his Business. He will plan for this in Process

2. Organizing the venture

In this step entrepreneurs organisation, they are all resources. He is utilised all his resources such as staff, money available other resources. In steps also see the entrepreneurs how to organize all their resources.

3. Launching the venture.

When entrepreneurs all resources are planning and organising then He will launch this business. These last steps of venture entrepreneurs convert planning into action.

5. Resources. (Entrepreneur process)

Entrepreneurs complete the venture process then they need natural and financial resources. You must have financial resources because when you have not available financial resources. Entrepreneurs can’t Start business means that financial resources are required for entrepreneurs and businessmen.

1. Seed money

When entrepreneurs start a business they need an initial amount of Business this is their first financial resource.

2. Venture Funds

 Entrepreneurs need venture for business running and maintenance in the market. This second financial resource for entrepreneurs required her/his business.

3. Growth Capital

When entrepreneurs expand they are business. You are required by Growth Capital for expanding the market, expanding output for this organisation.

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6. Management (entrepreneur process)

    After getting this resource process management the venture. Management is done by getting things done by others and through others. In this process required planning, organising and Directing, Controlling.

1. Planning (entrepreneur process)

Entrepreneurs do first up all planning this business. Without planning not able to run business that’s the reason entrepreneurs first do planning these businesses.

2. Organising

 After plans, second steps of organising in this steps the organisation of all resources utilised all these organisations resources.

3. Directing

    Entrepreneurs process Directing. Entrepreneurs do staffing, motivating, communicating in the Directing process under management. Can’t Handle particular personal organisation that’s why required staffing in the organisation. And staffing through communicating in your organisation.

4. Controlling (entrepreneur process)

 Entrepreneurs Process management under Controlling. In this process evaluate all things entrepreneurs for this organisation. 

     Entrepreneurs do Complete management process through Planning, organising Directing and Controlling.

7. Strategies (entrepreneur process)

Entrepreneurs process the last steps of strategies. We are discussing strategies under Make right and sound strategies.

1. Make right and sound strategies

Entrepreneurs should have a good strategy when it comes to all processes. Because best strategies to Compete with your  competitor, you need a good strategy for running your own business

     I hope that you have enjoyed this article about the entrepreneur process.