Entrepreneurship: The Entrepreneur’s Checklist
American entrepreneurship and its requirements are distinct from established business efforts. Start-up entrepreneurial efforts require specific skills and applications that set these endeavors apart and provide advantage to new initiations. Entrepreneurial ventures in the U.S. have unique opportunities for access to a range of supportive services - from business plans and company formation to lending relationships and financial expertise to guidance in maneuvering in global markets. And all American entrepreneurs enjoy freedoms to pursue these self-initiated opportunities.
The entrepreneurial cycle is most often initiated by personal qualities that all entrepreneurs share - drive, determination, ingenuity. Some of the requirements underlying entrepreneurship are highlighted by items from The Entrepreneur's Checklist. If you and I sat down to talk about entrepreneurial activities, these are some of the things we would discuss:
- What was the triggering factor for your entrepreneurial effort?
- What is the driving force behind the effort?
- Who supports you in the effort?
In addition, what research has been done in the following areas:
- Market research on business location and focus?
- Research/in-depth information relating to major competitors?
- Data gathering on start-up costs and continuing business expenses?
We would follow up with further discussion:
- What has been your business track record? Work record?
- Have you had work experience in the field where your entrepreneurial efforts are focused?
- What has constituted your management experience/training?
- What is your orientation to dealing with people?
- Do you see your business focusing on people or things (products, goods, materials)?
- How would you describe your "managerial style"?
- What are your major reservations about the venture?
- In what areas do you feel most confident?
Action responses derived from this review will serve as the basis for new ventures!