Entrepreneurial Process and Five Process for Business Growth

 entrepreneurial process is break into five phases: idea generation, opportunity evaluation, planning, company formation/launch and growth.
Idea Generation: every new venture begins with an idea.before starting the business entrepreneurs first generate idea,the basic thing which entrepreneur first going to start the business is the idea and act accordingly, we take an idea to be a description of a need or problem of some constituency coupled with a concept of a possible solution. (A characterization of this phase is still work in process on this site.)

 Opportunity Evaluation: this is the step where you ask the question of whether there is an opportunity worth investing in. before investing some one some else the owner search the opportunities and investigate the customer potential and invest accordingly, Investment is principally capital, whether from individuals in the company or from outside investors, and the time and energy of a set of people. But you should also consider other assets such as intellectual property, personal relationships, physical property, etc.

Planning: Once you have decided that an opportunity,before starting a new venture the business person or the organization plane the business and act accordingly, you need a plan for how to capitalize on that opportunity. A plan begins as a fairly simple set of ideas, and then becomes more complex as the business takes shape. In the planning phase you will need to create two things: strategy and operating plan.

 Company formation/launch: Once there is a sufficiently compelling opportunity and a plan, the entrepreneurial team will go through the process of choosing the right form of corporate entity and actually creating the venture as a legal entity.

 Growth: After launch, the company works toward creating its product or service, generating revenue and moving toward sustainable performance.growth of the business depends upon the your efforts and the nature of the business. The emphasis shifts from planning to

execution. At this point, you continue to ask questions but spend more of your time carrying out your plans

Although it is natural to think of the early steps as occurring sequentially, they are actually proceeding in parallel. Even as you begin your evaluation, you are forming at least a hypothesis of a business strategy. As you test the hypothesis, you are beginning to execute the first steps of your marketing plan (and possibly also your sales plan). We separate these ideas for convenience in description but it is worth keeping in mind that these are ongoing aspects of your management of the business. In the growth phases, you continue to refine you basic idea, re-evaluate the opportunity and revise your plan.
This website is focused on the early phases of new ventures. It does not delve into the process of generating the original idea. Nor does it cover the phases of growing a company much beyond it's initial launch. However, the topics of evaluation and business planning remain relevant well into the early life of the company.
The focus here is the evaluation and planning phases. We first develop a framework for understanding and analyzing this process. This table summarizes this framework: