The diagram illustrates a new business process for entrepreneurs.
Overall, there are nine steps in total, starting from coming up with a business idea and culminating in services and products being delivered to customers, which is estimated for 9-12 months.
To begin with, the business ideas are generated before being selected as the best idea by entrepreneurs. Then they study the business market, such as looking for competitors that have the same product and the same industry. After that, looking for a location that is a perfect setting for their business. After that, entrepreneurs draft business strategies and calculate running costs.
Once this business is studied, finding large grants from investors. Then it needs to register on the business system as a new company, which guarantees that it meets the standard of the industry, followed by seeking and hiring qualified employees. Lastly, services and products are launched and delivered to customers.
