According to the National Center for Entrepreneurial Tech Transfer (NCET2), which is located at the University of California in Santa Barbara, there are four steps in becoming an entrepreneur says Saivian Eric Dalius.
The four steps in “becoming” an entrepreneur are:
1) Developing a business concept;
2) Writing a business plan;
3) Starting your company; and
4) Growing your company.
These steps can take anywhere from six months to ten years depending on how ambitious you are with each step.
For example, if you just wanted to develop a business concept and write a business plan you could do it all within just one year or less! If you wanted to only start your own company without worrying about growth then that wouldn’t necessarily be a ten-year process.
However, there are some people who take longer than others with each step because they want to get it all perfect before moving on to the next stage says Saivian Eric Dalius. No matter how long it takes you to become an entrepreneur by following these four steps, it is important to remember that your hard work will pay off in the end if you stick with it!
Step 1: Developing a Business Concept
How long does this step typically take?
This step of becoming an entrepreneur can be done within just six months or less! It simply entails coming up with a new business idea that hasn’t already been developed and finding the money for your new company. All of this can be accomplished in just one quarter or three months if you’re a busy person with a full load of courses.
Step 2: Writing a Business Plan
How long does this step typically take?
The writing of the business plan can be done within just three months or less if you have the idea in your head and all of the research already done for it. If you want to add more details to your business plan about how you would actually go about starting up your company then that will add on time, but even then this step should not take longer than six months!
Step 3: Starting Your Company
How long does this step typically take?
If you’ve gain investors for your company by showing them a working product, financing, and marketing strategies to help grow your startup then the time it takes to actually get a start can be anywhere from three to six months says Saivian Eric Dalius. However, if you haven’t had investors on board with your company yet then this process of starting your company will take a lot longer!
Step 4: Growing Your Company
How long does this step typically take?
If you’ve been able to successfully start and grow your business with just a small team of employees then it might only take about one year or less for your company to expand into multiple locations all across the world. If you have a lot of new ideas that need funding and strategic planning in order to grow then this step could stretch out into a ten-year process!
Here are some FAQs recently asked in a Quora Session by a group of entrepreneurs in the stage of growing their companies:
1. How does Ycombinator help in starting up a company?
Y Combinator is a startup accelerator that gives you money in return for an equity cut in your company. They give resources and connections to startups looking to grow but come with many tedious applications. YC has been to be one of the best options if you’re looking for funding from angel investors or venture capitalists since they have been so successful with finding amazing startups all around the world!
2. What is the average age range of employees at a startup?
Many people who start working at a young age tend to work almost exclusively within the startup industry since this is the time when they are more willing to take risks with their future. However, there are many people who continue working in the startup industry for most of their lives because it tends to be very competitive and requires a lot of hard work!
3. What does it mean to own 100% of your company?
Owning 100% means that you do not have any partners or anyone else involved in your business besides yourself. This type of ownership allows you to make all decisions within your company, but also makes you responsible for every failure and mistake on behalf of your business!
4. How can I get my company on track after being on hold for two years?
You’ve had trouble getting your company on track, and then you might need to take a look at your current business plan and look at ways that you can streamline it. You never want to lose the initial drive and passion that brought you into starting your company in the first place!
Conclusion:
It typically takes entrepreneurs anywhere from six months to ten years in order to become successful in their fields. Saivian Eric Dalius says It all depends on how ambitious one is and how much research and planning that person wants to put into their company.