Professional Documents
Culture Documents
Patterns of Entrepreneurship
Chapter 1
The Entrepreneurial Process
Identify an Opportunity
Develop the Concept - Write the Business
Plan
Determine the resources Required
Acquire the Necessary Financing/Partners
Implement and Manage
Harvest the Venture - Exit Strategy
2
The Entrepreneurial Process
Changing Demographics
Identify an Opportunity Emergence of New Market
Process Needs
New Technologies
Regulatory Change
Social Change
New Product/Services
Develop the Concept and New Processes
write the plan Enter New Markets
New Organizational Structures/Forms
Use New Technologies
Use Sales or Distribution Channels
Start Writing the Plan 3
The Entrepreneurial Process
Need for:
Determine the Required Marketing and Sales Expertise
Resources Technical Expertise
Financing Needs
Distribution Channels
Sources of Supply
Licenses, Patents, & Legal Protection
Complete the Business Plan
4
The Entrepreneurial Process
Licensing of Rights
Harvest the Venture
Sell or Merge
Go Public
Shut down Venture
5
Why Become an Entrepreneur
6
The Entrepreneurial Mindset
7
Commonly Shared Entrepreneurial
Characteristics
8
Commonly Shared Entrepreneurial
Characteristics
4. The focus is on executionspecifically, adaptive
execution.
9
The Entrepreneurial Process: Framework
for Evaluating an Opportunity
Name of Project: __________________________________________________
10