Entrepreneurial process(continued) Stage 3: For a new business startup you must Define the business idea Create a business plan Secure financing Stage 4: Operate and grow your business Stage 5: Harvest your business Continue to operate "cash cow Go public Sell the business Liquidate the business Creating a Winning E-Business 13 Second Edition Chapter 2Creating a Winning E-Business Second Edition, Chapter 2 13 ▪ Entrepreneurial process (continued) – Stage 3: For a new business startup you must • Define the business idea • Create a business plan • Secure financing – Stage 4: Operate and grow your business – Stage 5: Harvest your business • Continue to operate “cash cow” • Go public • Sell the business • Liquidate the business