01 Jun 2011

Stevenson’s Own

The Secret Sauce of Entrepreneurship


Issue Focus: Entrepreneurship

The four key ingredients, for individuals and organizations

  1. A careful definition of available opportunities
    Is there a demand out there that’s not being recognized or addressed, and what product or service can I offer that meets it?
  2. The motivation to pursue those opportunities to achieve some desired future state
    Do I have the long-term will and endurance necessary to stick with it, until that product or service is fully implemented and available?
  3. An understanding of the resource requirements for achievement of that desired future state
    Do I fully comprehend what human, financial, material, and other assets I will need? Is it feasible for me to launch, and succeed with, that product or service?
  4. A skill in negotiating for access to the required resources
    Even if I don’t possess all the assets I need, can I get other people to believe in and contribute to the opportunity to the extent that success can be achieved?

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