by stuartandrewwason on Saturday, September 6th, 2008 | 
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Any fool can start an enterprise, it takes a genius to end one successfully
The idea per se is not what is important. Ideas are a dime a dozen. Developing the idea, implementing it, and building a successful business are the important aspects of entrepreneurship.
The crucial ingredient for entrepreneurial success are a superb entrepreneur with a first rate management team and an excellent market opportunity
In entrepreneurship, as in any other profession, luck is where preparation and opportunity meet
Big firms are relying increasingly on strategic partnerships with entrepreneurial firms in order to access new approaches, business models and research and development
Remembering…
Once the new company has succeeded in capturing its first customer, what it then naturally seeks to do is find more. This is when it realizes that what got it to this point was the extreme attention to the needs of the early customer, whereas what will take it on to the next level involves stepping back from the extreme “tailoring” approach of the first phase to a more “off the peg” approach, seeking to satisfy most of the needs of a specific market segment, rather than all the needs of one specific customer.
Or simple described as:
X was the idea the business plan was based on
Trying to implement X is how we found out about Y
Y is how we got to Z
Now we have to kill X and Y and focus on Z…
by stuartandrewwason on Tuesday, August 19th, 2008 | No Comments |
Perhaps the existence of business plans and the language of business, give a misleading impression of business building as a rational process.
Creating a business is a round-of-chance encounter that leads to the new opportunities and ideas, mistakes that turn into miracles.
Author unknown
by stuartandrewwason on Sunday, August 17th, 2008 | No Comments |
FOUNDERS: Every startup company must have a first class entrepreneur
FOCUSED: Entrepreneurial companies focus on niche markets. They specialize.
FAST: They make decisions quickly and implement them swiftly.
FLEXIBLE: They keep an open mind. They respond to change.
FOREVER INNOVATING: They are tireless innovators.
FLAT: Entrepreneurial organizations have a few layers of management as possible.
FRUGAL: By keeping overheads low and productivity high, they keep costs down.
FRIENDLY: Are friendly to their customers, suppliers and workers.
FUN: It’s fun to be associated with an entrepreneurial company.