Call our team +44 (0) 207 566 3939

Blog

The three phases of a business venture

The three phases of a business venture

by | Feb 10, 2015 | Blog, Business News, Product Information, Productivity, Tips & Advice, Uncategorized | 0 comments

The life of an entrepreneur is full of choices, whose significance is palpable beyond the corporate universe. Driving your own business is the realisation of a dream that invariably has an impact on your personal instance.

In fact, experts in entrepreneurship and business management say that creating a company that is able to grow and make an impact on the market, is a journey that begins with a dream and ends with success or failure. This depends on the acuity, sweat, self-criticism and conviction of an entrepreneur.

Men and women in business have to face a host of challenges daily between which are: a needs assessment, identifying opportunities, exploiting these elements and, of course, decisions to be taken to solve problems. However, one of the main challenges facing all corporate leaders is self-analysis. The specialist in corporate psychology describes some characteristics of entrepreneurs, which, as a coin show two faces, will have one positive and one negative.

Optimism, for example, can help you keep on fighting, but is also able to lead you to overestimate your power to predict the future and predict illogically promising scenarios.

Confidence and conviction, which are essential aspects in any business personality, can quickly transform into presumption and apprehension, respectively.

It can be helpful to split the business venture in three phases. Here we present them:

1. Birth Sleep / Contemplation. At this stage, the future entrepreneur identifies a need that can be met with a business project. The way it detects that opportunity is unpredictable, the truth is that it becomes a thought in your head; is incubated and leads them to wonder what would happen if a business developed from it? Do you have what it takes to undertake it? Can you combine it with another activity?

2. Preparation. At this stage, you should research absolutely everything that relates to your business idea from the target to its competition, not forgetting financing options. This is also a key moment of self-evaluation, because it is at this point that you should identify if the initiative is sound and feasible, and if you are really committed to it.

3. Implementation. In this period, the theory turns into practice. It`s when you`re officially open for business and start to operate. Here you begin to have contact with the public and to demonstrate the real impact you can have on consumers.

At this stage, self-criticism will help to find flaws or areas for improvement. It is all part of the daily challenges on the road to becoming a successful leader.

This post was brought to you by Robert Carter, you can read more helpful blog articles here.

Blog Categories

Contact Details

Tel: 0207 566 3939

Fax: 0207 566 39352

Sales: office@capital-office.co.uk

Support: support@capital-office.co.uk

Our Location

Capital Office
Kemp House
152-160 City Road
London, EC1V 2NX

Opening Hours

Monday - Friday: 9.00AM – 5.00PM
Saturday: Closed
Sunday: Closed

What Does a Company Director Do?

What Does a Company Director Do?  The role of a company director does not end at simply establishing a business address or projecting motivational predictions about the company’s growth. A company director is required to recognise and fulfil a number of key roles. A...

This Is How to File a Confirmation Statement

This Is How to File a Confirmation Statement Whether your business is the pride of a remote UK postcode, or you’ve registered your company at a more established business address, you must file a confirmation statement at Companies House. A Confirmation Statement...

All You Need to Know About Limited Company Shares

If you’re set to launch a company limited by shares, it’s important for you to understand all there is to know about these limited company shares and what they mean for your business. Before you begin working via your prestigious registered office address, take note...

Appointing and Removing a Company Director

There may be a number of reasons you’ll want to remove your existing company director and/or appoint a new individual to the role. Whether you’re planning a major reshuffle at the top for the sake of changing course of your limited company’s ethos, or an individual is...

Where Do I Send My Stock Transfer Form?

Congratulations! You’re either a newly formed business, or you’ve been running your brand from a reputable business address for some time. But with the plaudits comes the pressure; not least the overwhelming number of documents you must process and submit. And when...

7 Important Roles of a Company Director

You may be the proud owner of a new business, functioning from a credible business address, and envisioning a bright future ahead. But if you’re unsure about exactly what a company director’s role entails, then you may find yourself hindering your company’s progress....

In a hurry and just want some advice?