The Entrepreneurial Sequence Essay - 1082 Words

The Entrepreneurial Sequence It can be argued that entrepreneurship is the backbone of our technological society, and keeps reinventing the way business is done. Each new company provides a different perspective as to how business should be handled. They also provide a very large portion of the new products that change the way we live our day-to-day lives. However, due to the risks involved in starting a new company it takes a certain entrepreneurial spirit to successfully launch a new business. This paper will step through the entrepreneurial process by examining two separate entrepreneurs and their reason for becoming entrepreneurs, why they chose their industry, how they obtained funding, their first customers, and the pros and†¦show more content†¦Guy Lawsons reason for becoming an entrepreneur was the fact that the whole marketing communications department at Texas Instruments, in which Guy worked, was laid off because the company decided to outsource it. Having a wife and two daughters to sup port Guy had to find money somewhere and decided to start his own business. It is true that in most cases there is a triggering event that gives birth to an entrepreneurial venture, the same applies to the cases here. While both of the events seemed detrimental to Guy Lawson and Brenda Cantleys lives, their entrepreneurial spirit allowed them to pick up the pieces and start two successful ventures. So how does one decide what kind of business to start after they have already decided to become an entrepreneur? For the cases of Guy Lawson and Brenda Cantley the choice was clear. Brenda was always volunteering to help raise money; first, for her oldest daughters cheerleading squad, then for her sons soccer team. In fact, she volunteered so much through the years she acquired the nickname: the fund-raising queen. She was a born saleswoman, and staying true to her nickname all of her fund-raising efforts were extremely successful. When her husband got sick she saw an ad in the paper to make money by fund-raising for schools and different organizations. She worked for a man who lived in Dallas for about a month before she saw how inefficient he was and quit to start her own business (takingShow MoreRelatedEntrepreneurial process paper1422 Words   |  6 Pagesotherwise referred to as the entrepreneurial process. Describe the four steps of the entrepreneurial process The entrepreneurial process is a set of steps to follow when taking a business idea; those steps are the fundamentals that must be covered in any approach. The four steps of the entrepreneurial process are: Deciding to become an entrepreneur, Develop successful business ideas, Moving from one idea to an entrepreneurial firm, Managing and growing the entrepreneurial firm. 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