Starting a business can be scary, especially with all the false statistics being thrown around that 90% or more of startups fail without any scientific evidence to support such a claim. However, starting a business can be challenging like a lot of things in life, but the challenges can be minimised and the chances of success increased if the appropriate process is followed.
A business process may be defined as “…a set of related tasks that lead to a particular goal” (Bernstein and Newcomer, 2009). This shows that from the time the idea is conceived to when it is launched, there are stages of development to go through. This process is iterative and may not necessarily follow a specific sequence, though certain things must be done before others. However, breaking it down into stages is convenient and enhances understanding. Fortunately, these stages have been studied by academics and practitioners, which have resulted in developing proven steps that, if taken in the correct order, can help cover enough grounds to provide a solid foundation for success. There are many frameworks which can be used in a start-up situation but the three listed below are our favourites.
References
(Bernstein and Newcomer, 2009)
Bernstein, P.A. and Newcomer, E. (2009). Chapter 5 – Business Process Management. [online] ScienceDirect. Available at: https://www.sciencedirect.com/science/article/pii/B9781558606234000056 [Accessed 1 Feb. 2023].