The road of an entrepreneur  traffic news duiih

 Cycles and stages in the life of an entrepreneur

 The process for starting a new company is called entrepreneurial process. The entrepreneur must identify, evaluate and develop the opportunity in the form of a business. The process is divided into these stages:

Identification and evaluation of the opportunity

Development of a business plan

Determination of the required resources

The resulting company management

The differences and conflicts between these phases of activity help to explain by start-ups to self-destruct as they grow and already established companies are so bad in creating new things. So we can assess the entrepreneurial spirit in five great ages.

The age of the wishes

You want to have your own company. You want that job you no longer support.

You want and need a source of income because you are unemployed and you think that having a business is a good idea; but you're still looking for a new job. You want to, but you don't have any idea of what kind of business undertaking.

You are in phase 1, care you can spend years there. Thousands of entrepreneurs do not pass this stage, one day come to "old" and feel that it is now too late.

Fear to undertake never allowed them to go forward. You've seen many doing so before, you are seeing many others do so now and know that you can also achieve this; but you don't know what kind of business undertaking, or where to begin.

The age of illusions

Are you a true entrepreneur got a business idea! You expect that has earning potential.

At this stage you give shape to your business idea. Every day that passes you are more convinced, sometimes naively your business. Your enthusiasm and your energy also. You may have several ideas and you have to choose the best among them.

Haven't starting for various reasons: you lack capital, you do not have the knowledge, the time has not come, you have a good job, you have debts that pay, and so on. Thousands of entrepreneurs do not pass to the action.

The age of the realities

You opened your business. Make a new project launched. You have less than a year.

Congratulations. Already these near a venture.

You'll see that the money never reached, even if your idea has potential to generate profits, it will be a time to reach the break-even point.

I also call "adolescence of the entrepreneur", because at this stage mature to become entrepreneur to entrepreneur.

Of course, the challenges are enormous. The day to day becomes a continuous decision-making. There are decisions that are simple, routine, you have greater importance; but there are decisions that will be decisive in the history of your company.

The age of the truths

Already spent the first year. Not everything has been perfect; but you've gone of the twelfth month, is because you've made many things well.

Now you have four years more to consolidate your business.
During this time you completely define the rotation of your business, consolidating the portfolio of products or services. You decide if the location of your facilities is suitable.

Strengthens the relationship with a portfolio of suppliers who can provide the raw materials, products and services in the quality and price that you need.

You're forming a portfolio of profitable customers to whom your like to sell and you feel pleased to work for them. You will also form a team working for your company.

The age in which you get rich

Also called the "adult contemporary". You are giving way to the development and growth of the business. It is said that 50% of the companies that survived the first year, only 10 per cent reach successful fifth year of life. This stage starts from the fifth year, coincidentally.

At this stage the employer should strengthen controls in your business, many tasks will have to be delegated. The employer must devote their time and energy to tasks that add value at the key factors of success of your business. Although you captivate the production, if the growth is in sales you have to strive for sales and marketing. If the products have dropped in quality, you will need to return to production and improve.