Entrepreneurship: The Entrepreneur’s Checklist

February 18, 2010

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!