Definition of a PreStartups or PreStarts: Prestarts can best be described as individuals with small business ideas or those that are in the process of starting out as an entrepreneur. The biggest problem Prestarts face includes determining if the idea or concept being considered is feasible enough to start pursuing in terms of time and financial resources. To see if you are in the prestarts phase try answering the following questions:
1. Over the years have you been sitting on what you believe to be a winning small business idea with no way to test it in the marketplace?
2. Are you simply looking to better understand the discipline of entrepreneurship and other small business concepts? (3) Do you need assistance navigating your idea through the entrepreneurial landscape to get you concept to the startup phase? If so The Entrepreneur Café, LLC can help!
Definition of a Startup: Startups are usually described as newly created companies in the initial phases of research and development in an effort to bring a viable product or service to market. At the startup stage some of the obstacles a company faces include: (1) Determining what its product or service actually is or does. (2) Identifying who the company’s target customers are. (3) Understanding how the company’s business model will allow it to make money. (4) Figuring out where the next round of funding needed to sustain operations will come from. The Entrepreneur Café, LLC can help your startup create, deliver, and capture value through proper business planning. Our services can help take your startup from good to great!
Definition of a Growth Company: Growth firms are generally classified by their ability to generate positive cash flows or earnings at a significantly faster rate than the overall economy. Often these companies are associated with the technology industry and have the ability to scale their businesses rapidly. Growth companies have the ability to create their own markets or serve a larger, growing market. However, no company has positive growth forever, and without proper planning (over time) most businesses will usually undergo some level of decline. This decline can often be attributed to increased competition, outdated technology, newer innovations taking the place of old, management complacency, poor strategy and execution, and overly optimistic forecast.