01 Jun 2011
The Secret Sauce of EntrepreneurshipTopics:
Issue Focus: Entrepreneurship
The four key ingredients, for individuals and organizations
- 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?
- 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?
- 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?
- 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?