Starting your business can be one of the most detrimental decisions in one’s life. We all strive for financial freedom, unlimited opportunities, dreams realized and a secure future for ourselves and our families. But is starting a business the way for you.

To answer this question, you need a thorough knowledge of the business, sufficient capital, good experience, and a unique idea at the right time. This unique Idea is the first step towards starting your business. You can begin the process by simply Brainstorming with your family and friends and by Conducting Preliminary Personal Research.

Once you have a unique Idea in mind then you can take it a step further and Seek Professional Help in shaping your idea. This is where places and organizations like our Entrepreneurship Center located here in King Saud University are setup to do for you. You can consult with one of our experienced faculty that have different backgrounds in business disciplines including some who have been successful entrepreneurs themselves.

Once your Idea is conceptualized, then you should begin the process of Cost-Benefit Analysis to determine the feasibility of your idea. Primary and Secondary Research is utilized to help during this analysis. If the results of the feasibility study are positive the next step would be to write up your Business Plan. In the business plan many issues would be addressed in order to fully appreciate the Idea. You can gain insightful information to the current stage of the industry you are looking to join, the market trends, the competition, the opportunities and of course the all around risk associated with the launch of your Idea.

Ultimately, you will have to begin your Funding Quest. Your Idea will probably have to be shopped to an investor, so this is where a solid business plan can be used as a tool to help you in funding your Idea. A solid business plan will enable the investor to grasp the cusp of your idea and then persuade them to fund your Idea. At the while location for your new business Idea would be sought to ensure the best place to deliver your Idea to the marketplace.

Once the funds are secure and the location is recognized then a careful look at the Legal Technicalities and structure of your business Idea should be looked at. Keep in mind that legal issues should have also been addressed during the preparation of the business plan. Issues such as Name Registration, Type of Business Entity and Website Registration must be properly setup to avoid future problems. Hiring the right employees and talent would be considered here as a prerequisite to your Idea launch. Human Resources play a vital role in the health of your business.

Now, you are ready for the launch of your Idea or enterprise. With careful planning and hard work your Idea can be successful. At that point you can begin to consider your Exit Strategies.

The Entrepreneurship Center offers participants the opportunities to learn about creativity, idea generation, opportunity recognition, feasibility studies, marketing and financial plans, and business plans.  We'll take you through the process of starting a new business, from thinking about it to planning it to actually doing it. We have the trained, educated and experienced faculty to assist you in developing your Idea.  Please feel free to contact our center to make an appointment with one of our staff members.