1 / 6

The Entrepreneurial start-up process

The Entrepreneurial start-up process. The Five Key Components. The Entrepreneur. Driving force of the start-up process. Recognizes an opportunity. Gathers resources to take advantage of the opportunity. Creates a company to execute the opportunity in the marketplace. The Environment.

bedros
Download Presentation

The Entrepreneurial start-up process

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. The Entrepreneurial start-up process The Five Key Components

  2. The Entrepreneur • Driving force of the start-up process. • Recognizes an opportunity. • Gathers resources to take advantage of the opportunity. • Creates a company to execute the opportunity in the marketplace.

  3. The Environment • Four environmental factors affect a new venture’s ability to start and grow. • Nature of the Environment: uncertain, fast-changing, stable, or highly competitive. • Availability of Resources: skilled labor, start-up capital, and sources of assistance. • Ways to Realize Value: favorable taxes, good markets, and supportive governmental policies. • Incentives to Create New Businesses: Enterprise Zones.

  4. The Opportunity • Opportunity: Idea that has commercial potential. • Opportunities have potential when there is demand for the product. • Idea + Market = Opportunity

  5. Start-Up Resources • The necessary people and capital must gathered when the entrepreneur is ready to start the business. • Start-Up Resources include: capital, skilled labor, management expertise, legal and financial advice, facility, equipment, and customers needed to start a business.

  6. The New Venture Organization • New Venture Organization = Company • Company is the foundation that supports all of the products of the new business. • Through the company the entrepreneur creates value that benefits the owners, employees, customers, and economy.

More Related