4Botany

Mindblown: a blog about philosophy.

  • Summary

    15.1 Launching Your Venture Before launching a venture, the entrepreneurial team should ensure its members agree on the vision and then develop a founder’s agreement. The company culture should be defined, and a code of conduct developed. The team should identify all operational tasks needed to launch the venture and their associated time requirements and dependencies.…

  • Reflections: Documenting the Journey

    Learning Objectives By the end of this section, you will be able to: Figure 15.13 Taking the time to record your thoughts and activities provides new learning opportunities. (credit: “Journaling” by Vic/Flickr, CC B 2.0) Consider the journey of learning about entrepreneurship and of becoming an entrepreneur. What new knowledge have you gained about the world of…

  • Now What? Serving as a Mentor, Consultant, or Champion

    Learning Objectives By the end of this section, you will be able to: Depending on your experience as a first-time entrepreneur, you have a new set of choices in front of you. If you enjoyed the experience, felt the thrill and excitement of taking an idea from launch through to the successful harvesting of the…

  • Seeking Help or Support

    Learning Objectives By the end of this section, you will be able to: You’ve learned about some of the challenges in starting the venture and the types of decisions that the entrepreneurial team must make, as well as the importance of recognizing when you don’t know something or that you have encountered a problem. Facing…

  • Making Difficult Business Decisions in Response to Challenges

    Learning Objectives By the end of this section, you will be able to: Now that you are prepared to launch your business venture, let’s look at your business plan and the assumptions you made while preparing it. Did you keep a list of assumptions? Did you update assumptions as new data and information suggested “retiring”…

  • Launching Your Venture

    Learning Objectives By the end of this section, you will be able to: The big day has arrived. Your opportunity recognition process noted that your idea solves a significant problem or need, you double-checked that the target market is large enough for potential profitability, you have a method to reach this target market, you have…

  • Introduction

    Figure 15.1 Consider the importance of having a source of light when the sky is dark, or when disaster strikes and electricity is lost, or for some people, when the infrastructure for electricity doesn’t exist. Andrea Sreshta and Ana Stork identified this situation as an opportunity to create a new product that provides light when the infrastructure…

  • Summary

    14.1 Types of Resources Determining which resources a venture needs is essential to its success. Assets are types of property that benefit the person or company in possession of them. They can be tangible or intangible. Tangible resources can be seen, touched, and felt. They may include raw materials, land, facilities, buildings, machinery, computers, supplies, furniture,…

  • Managing Resources over the Venture Life Cycle

    Learning Objectives By the end of this section, you will be able to: The evaluation of needed resources does not end with the startup phase. This is an essential activity that the business owner must engage in throughout the life cycle of the business. Many entrepreneurs have failed to re-assess how their needs have changed…

  • Using the PEST Framework to Assess Resource Needs

    Learning Objectives By the end of this section, you will be able to: As you venture into planning the resource allocation for your enterprise, you will learn that there are a variety of tools that can help you. It is important prior to launch to identify the minimum resources needed for startup. Some businesses will…

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