1. What is the entrepreneurial process?

Being an entrepreneur always starts with a development of an idea, which in

turn enables ourselves to take the opportunity of implementing this idea and turning it
into a reality. It then comes with a lot of responsibilities such as having to choose
mentors, investors, partners, and founding members. It also involves risk-taking,
budgeting, and decision-making and allows ourselves to be able to strategize or to plan
with critical thinking in managing our businesses well.

For these ideas to become possible, it would then involve the steps or the
entrepreneurial process towards having a successful company or business in the future.
This entrepreneurial process may be broken down into different phases that would be
useful to consider in building or starting up a business. And these phases that are
significant in becoming a successful entrepreneur would include having first the idea to
be taken as a description to be coupled with a concept of a possible solution. Second is
evaluating your idea if it is worth investing and if there may other things in your plan
needed to improve. Then operating these plans would be the next step which would also
allow yourself to launch your own company or business. And throughout the process,
you should always see to it that your company is growing and are having a consistent
performance.

In conclusion, it is natural to think of these steps or process as occurring

sequentially, but they are actually proceeding in parallel. These may be ideas for
convenience but it is worth keeping in mind as these could be useful in managing a
business. In these phases, you should continue to refine your basic idea, re-evaluate the
opportunity and also revise your plans.

2. What is elevator pitch and personal branding? How can you apply elevator pitch?

Elevator pitch is described as a summary or an outline about the product and

services that are being offered and marketed to a potential client. Its name comes from
the concept that the speech should be delivered in a short period of time just like riding
an elevator. Thus, entrepreneurs must be prepared to give a pitch at any time, including
during an elevator ride. On the other hand, personal branding focuses mainly on the
reputation and performance of a person by positioning them as an expert within the
industry. It is a practice of creating a brand around a person rather than a business
entity; it thus helps the individual in creating and influencing the public perceptions
about them. It elevates their credibility and differentiates them from the competition, to
ultimately advance their career.

In advertising your business or company, there would be a time that you should
give a brief and persuasive speech that you can use to spark interest in what your
organization does. This pitch also allows you to recruit or develop new relationships
since its intention is also to continue a conversation after the pitch and to allow
networking, finding investors and partners. Thus, having the capability to construct an
elevator pitch in anytime and anywhere needed is an advantage and would greatly
benefit your own business afterwards. It would also increase your personal branding
and would give a good reputation and performance quality to your organization or
business.