Hi!! In my previous blogs I talked about entrepreneurship, it's role, contribution in society and the attributes of a successful entrepreneur. Today, we will be discussing the development process of business skills or entrepreneurship development process. It is the process towards improving the abilities and learning of entrepreneurs. It can occur by formal or by casual learning model. In the formal learning model, training programs are conducted to bring awareness and skills related to business and entrepreneurship. This process is divided into seven steps. Let's see them one by one. 

Let's go

1. Assembling resources : Before starting any business raw materials , suppliers and other resources need to assembled to run it successfully. It is also called resource mobilisation or the mobilisation of resources. This is a the first as well as a very important step while establishing a business. Right resources will lead to right product quality and customer satisfaction. 
2. Scanning the environment:Scanning the internal as well as external environment are very important for a business to grow, external environment consists of political situation in a country, move by competitors, changes in trends etc whereas the internal environment includes the employees, work environment etc. 
3. Development of a product or a service: A business must specialize as well as develop the product or the service it wants to provide to it's consumers because providing quality product is one of the social responsibility of a business which it needs to fulfill in order to gain society's trust. 
4. Preparation of business plan :This steps results in Strategizing the aims and objectives of the business and laying out a roadmap to follow. A business plan must be rational and should be prepared while foreseeing alm challenges and opportunities. The business plan should revolve around the brand concept and how it contributes to the society. 
5. Appraisal by funding agencies: Businesses must be able to convey their idea in a way that investors don't hesitate to invest in it. 
6. Launching: Now, after doing all these steps the product is launched and is open for sale to the consumers. 
7. Growth: Now, the businessman must work hard to grow his business to expand it and to gain profits. 

These were the steps which take place during the entrepreneurship development process. I hope you liked this post and it was useful to you. Please like, share and follow. Do comment down your opinions and feedbacks as they are very valuable for me and act like a motivation booster. Thank you.