1. Discovery of an idea:
The first promotional quality of a woman entrepreneur is the conception of a new idea. She visualizes that there are opportunities for a particular type of business and it can be profitably run.
The idea may be to exploit a new area of natural resources or more profitable ventures in an exiting line of business.
2. Detailed investigation:
The woman entrepreneur will estimate the total demand for the product. She may be certain determine her share or demand. After determining the prospective demand for goods she will think of arranging finances for the venture.
3. Assembling the requirements:
After making sure that the proposition is practical and profitable, the woman entrepreneur proceeds to assemble the requirements. She persuades to select the factory site, decides the plant and machinery and contacts suppliers of raw materials, etc.
4. Financing the proposition:
The woman entrepreneur decides about the capital structure of the enterprise. The requirements of finances are estimated first. The financial requirements for short period and long period are estimated separately.