RECOGNIZING

POTENTIAL MARKET:

ENTREPRENEURIAL PROCESS

LIFECOLLEGE
MOLDING CHAMPIONS
 ENTREPRENEURIAL PROCESS

The proper and efficient ways of

starting a business is the
entrepreneurial process, which starts
with identifying and evaluating the
opportunity.

It is the scanning of the marketing

environment where you can formulate
a product or service solution applying
the techniques of seeking, screening,
and seizing opportunities.
 ENTREPRENEURIAL PROCESS

OPPORTUNITY SPOTTING
AND ASSESSMENT
Evaluate the identified
opportunity
DEVELOPING A
Conceptualize and
BUSINESS PLAN
measure the Come up with business
opportunity description and DETERMINING THE
analysis
Perform industry
Identify the perceived CAPITAL NEEDED
value of the analysis
Calculate the business RUNNING THE
opportunity to the Come up with the description and analysis
company and the marketing plan BUSINESS
customers Calculate the existing capital
Prepare The operations Practice leadership as a way of
Do cost-benefit analysis plan including the Calculate the difference life
of the opportunity organizational plan between the needed capital Recognize critical success factors
including risk analysis and the existing capital.
Come up with financial Identify existing and foreseeable
Scan the strengths and plan Develop contact and problems and issues
weaknesses of relationship with suppliers and
Identify strategies and Employ risk-mitigating controls
competitors services providers
tactics and monitoring system