Only when entrepreneurs decide what they want from their businesses can they determine what kind of company they must build, what they are willing to risk, and whether they have a well-defined strategy.
They may want, for instance, to attain a certain lifestyle, experiment with technology, or build an institution that can outlive them.
Why all the conflicting advice? Because in a young company, all decisions are up for grabs.īased on his observations of several hundred start-up ventures over eight years, Amar Bhidé has developed a three-step sequence of questions that all entrepreneurs must ask themselves in order to establish priorities among the vast array of opportunities and problems they face: What are my goals? Do I have the right strategy? Can I execute the strategy?īefore entrepreneurs can set goals for a business, they must articulate their personal goals. Those are some of the suggestions that entrepreneurs sort through as they try to get their ventures off the ground.
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