1. Successful entrepreneurial projects tend to have strong financial backing and management capable of controlling costs while generating sales, resulting in stable cash flows to cover obligations. 2. Entrepreneurship involves following a continuous process to efficiently plan and launch new ventures, starting with idea generation and selection, preparing a business plan, implementing the project, and reviewing/improving based on results. 3. Key interested parties in a business plan include management concerned with the company's direction, creditors evaluating ability to repay debts, potential investors deciding whether to provide funding, and owners ensuring plans align with their vision.

1. FINANCIAL CAPABILITY
&
ENTREPRENEURIAL PROCESS

2. FINANCIAL CAPABILITY
Most entrepreneurial projects which
performed well in the industry had sufficient
financial backing, coupled with management's
capability to control cost while generating sales.
These projects have relatively strong cash flow
status, enough to cover all maturing cash
obligations.

3. ENTREPRENEURIAL
PROCESS
Entrepreneurship is a continuous process that needs
to be followed by an entrepreneur to plan and launch
new ventures more efficiently.

4. FOUR ENTREPRENEURIAL PROCESS
1.Idea Generation and Selection. The process starts with the entrepreneur,
scanning the environment and identifies the business opportunity he/she
wants to go into. It is difficult to determine how the visualization of the idea
gets to be re-enforced. Some ideas may have originated from direct
observation of a specific area, wherein no product or service is existing.
Some may have come from testing a product that appears to be lacking in a
certain aspect, leading to the generation of the idea. Others may come from
inputs based on casual conversations, interviews, or even
recommendations.

5. 2. Preparation of the Business Plan. Once the idea has been
selected, the entrepreneur documents the plan through the
creation of a business plan. It is the document that integrates the
market, operational, and financial plans in the order to set the
direction towards the desired objective (the major components of
the business plan are discussed in the succeeding chapters). The
plans have a time frame, and the specific activities are well-
defined.

6. 3. Project Implementation. Upon completion of the plans,
project implementation sets in. Here, the proponent starts the
groundwork for setting up the organization, selecting the right
people, and moving towards achieving the plans. This should
be backed up by financial resources so that the activities will
set in place. Operational aspects like sourcing of raw
materials, labor requirements, and producing them should
now commence. Marketing activities like spreading
information about the 5 products or services should likewise
commence.

7. 4. Review and Improvement. The final
step involves a comparison of the
actual implementation against the plans
documented in the business plan. It is
in this stage where one evaluates and
decides on the future of the products as
to its marketability, operational,
organizational, and financial aspects.
Assessments may lead to
improvements, additional
enhancements, expansion, or even
concentrated marketing of the product
or service. This end process reverts
back to the idea generation, and the
process goes on and on.

8. INTERESTED PARTIES
The list may include:
•Owners / Shareholders, Customers, Clients, Suppliers,
Partners, Employees and their families, Regulators /
Government organizations, Contractors, Communities,
Unions, Emergency services, Media and etc.

9. 1.Management. Aside from the preparation of such
plans, the management is concerned with its own future
with the company or business organization. Managers
and employees would like to know which direction the
company will eventually follow and what will be its
affect their careers, lifestyle, employment status, and
personal ambitions.
4 kinds of INTERESTED PARTIES

10. 2. Creditors. While some business plans are
created for the purpose of business continuity, a
large proportion of business plans are created for
the purpose of securing funds for the project
(especially for start-up companies). Potential and
existing creditors like banks and other lenders
read the business plans, evaluate the operations,
and find out if the plans will be able to generate
income to pay back the debts of the business
given funding is approved.

11. 3. Potential Investors. Business plans are
developed to entice future investors into putting
their money on the specific venture. Without the
plans, these investors will not have any idea on
how the company is going to operate, manage,
and pursue its mission. Unlike the banks, the
investors’ money will now form part of the
ownership of the company, partnership, or
corporation.

12. 4.Owners/Entrepreneur. The owners themselves
are very much interested in the preparation of
the business plan. They are concerned with the
details on how they will achieve their plans and
the future results of such activity. They are also
concerned if the direction in which the business
entity will be heading is consistent with what
they have envisioned the company to be.