What are the Key Steps in the Entrepreneurial Process?
The entrepreneurial process is a complex journey that involves several key steps:
Idea Generation: Identifying and developing a viable business idea. Market Research: Conducting thorough research to understand market needs, competition, and potential customers. Business Plan: Creating a detailed plan that outlines business goals, strategies, and financial projections. Funding: Securing the necessary capital to start and grow the business. Implementation: Launching the business and executing the business plan. Growth and Scaling: Expanding the business by scaling operations, entering new markets, and increasing revenue.