Predicated on aiding tons of military veterans refine their ideas for initiating a business, we identify and discuss a run likely future pitfalls that prospective entrepreneurs-- civilians and veterans alike--must avoid in order to make some accomplishments.
Potential entrepreneurs must avoid confusing the pursuit of hobbies and self-employment along with the act of making a business. Individuals who would like to build a company around consulting or public speaking need to firmly establish why customers should be prepared to pay for their guidance. People that seek to create a fresh non-profit organization should have a viable value proposition although they are not pursing a profit motive.
All in all, the entrepreneurial ventures which are most likely to succeed are those that (1) are based on a sustainable business structure, (2) leverage the company’s distinctive experiences and attributes, and (3) are constructed around a process or system that enables the enterprise to prosper even in the event the entrepreneur leaves the enterprise.
Publication Date: January 15, 2014 Product #: BH577-PDF-ENG
This is just an excerpt. This case is about Innovation & Entrepreneurship
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