In March of 1994 I decided if I couldn't find any research to validate what I was talking about on my TV show and at the IDEA Cafe (which we then called the IDEA Association)that I would throw in the sponge. This was before the World Wide Web, but the Internet existed and there were bulletin boards. Somehow I found this article in the current issue of the Harvard Business Review indexed, I went to Newsland, bought a copy, and found validation. I've been talking about startup ever since. (Go to link, you can download or order a printed copy of the article.)
However popular comprehensive research and planning may be in some business arenas, they don't suit the fast-moving environment of start-ups. Entrepreneurs must move quickly or opportunity may no longer exist. Theirs is a world of ingenuity, spontaneity, and hustle. Profitable survival requires an edge derived from some combination of a creative idea and a superior capacity for execution. Research on more than 200 thriving ventures reveals four helpful guidelines for aspiring founders. First, effective entrepreneurs screen out unpromising ideas as early as possible, and they accomplish this through judgment and reflection, not gathering lots of data. Next, they assess realistically their financial situation, personal preferences, and goals for the venture. To conserve time and money, successful new founders also minimize the resources they devote to researching ideas. And, unlike managers in big corporations, entrepreneurs don't need all the answers to act.
http://harvardbusinessonline.hbsp.harvard.edu/b01/en/common/item_detail.jhtml;jsessionid=DY0VTNNOKRNDMAKRGWDSELQBKE0YIISW?id=94202
No comments:
Post a Comment
Your comment or question here is very welcome! Or to keep it confidential email me at John@JohnWren.com After you post or send it is very helpful if you then call me at (303)861-1447 to make sure I take a look at your comment here or your email. Thanks!