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Entrepreneurs at this point take note of interesting trends in their environment by gathering information from various sources like the customers as market needs originate from them.
Opportunity Spotting and assessment.
a comprehensive paper that details marketing, operational, human resource, financial, strategic direction and tactics of the business.
Developing a Business Plan
Under this process is the calculation of resources needed to established business and compare against current resources.
Determining the Capital Needed
Also known as the implementation phase.
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The starting point of any new venture that involves understanding and knowing the intricacies of the macroevironment, microenvironment, and internal environment.
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The framework that most of the promising entrepreneurs use to finally come up with the ultimate product or service suited for a specific opportunity.
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Mnemonic for sociocultural, technological, economic, environmental, political, legal, ethical and demographic factors.
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The source of current trend on what is happening in the industry where the future business will belong to.
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New trends that can be the core business model of a new venture
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Projected new opportunities that can possibly affect the new business while it is running
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