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Explore the Entrepreneurship.org Resource Center to find resources. Designed with entrepreneurs in mind, our resource center allows you to find materials to grow great ideas.
Entrepreneurial companies should consider complying with an internationally recognized set of quality standards known as ISO as a way to mitigate risk, benchmark progress, and attract customers to an untested enterprise, say the founders of a consultancy.
Facing facts and forgetting fantasies are vital to accurate forecasting for startups seeking outside investment. This highly practical blog entry provides eleven helpful tips for doing forecasts realistically and presenting them in ways that investors understand and appreciate.
An entrepreneurial company in its second year confronts challenges more
"No business plan survives first contact with customers," Steve Blank says. What? Isn't the point of planning that you maximize the likelihood of success in the marketplace? Well yes, but perhaps not the kind of planning you might be thinking about. A business plan conceived on paper, powered by a great idea or invention, enhanced by research on the size of the market and a customer profile, has great potential. But it also has a crucial flaw.
Benchmarking your firm's performance against others is essential to creating and following a strategic plan. This comparison process can help entrepreneurs "gain the upper hand in a marketplace," according to Aurora WDC, a competitive intelligence firm.
The seven steps listed here will smooth the way to an improved ROI.
Effectively tracking the who, what, where, when, and why of board decision-making in a concise, informative way is imperative, especially for a newly funded venture. This brief blog discussion is followed by an easy-to-use template for recording board minutes in a formal, logical fashion.
In the last decade, the United States has found itself fully immersed in nation building, despite its alleged distaste for such endeavors. U.S. military forces in particular have been at the center of these efforts, building schools in Iraq, staffing Provincial Reconstruction Teams (PRTs) throughout Afghanistan and training soldiers in Mozambique. U.S. Army platoon leaders hand out micro grants to small business owners and help stand up city councils. Civil servants who once trained for peacetime development work now find themselves mediating tribal disputes in remote mountain provinces. Regardless of the efficacy of such efforts, public statements by both President Obama and Secretary of State Hillary Clinton suggest that nation building and related activities are preferred solutions in the war against terrorism. Yet despite the enormous complexity and ambition of such efforts, there remains a gap in the training and education for nation building.
Kathy Eisenhardt, co-director of Stanford Technology Ventures Program and professor in Management Science and Engineering, shares results from her research regarding successful ventures, addressing fundamental issues such as team building, market creation and financing.
This news note cites an article, and#34;The Power of Dumb Ideas,and#34; in which Randall Rothenberg argues that, when it comes to success in business, emphasis on strategy imitation outperforms emphasis on innovation. Source for the article is a Booz Allen Hamilton study of successful business strategies over 30 years.
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