Author Archives: Robert W Price

What are the origins of entrepreneurial capitalism?

Entrepreneurial capitalism is key to the success for entrepreneurship. But few words are as abused in the lexicon of the business world, as ill defined in the management literature, and as open to multiple meanings as entrepreneurship. The concept of entrepreneurship has been in our modern society for thousands of years and in the history of economic study the word

Read more

How do entrepreneurs create their start-up strategy?

Challenges To Entrepreneurs Starting A Business Today The greatest challenge a new business venture faces is getting the right things done in the right order. Knowing what to do, and in what sequence, is critical, especially since the entrepreneur has very limited time and resources. Craig W. Johnson, chairman of the Venture Law Group, once said that starting companies is

Read more

Why is an exit strategy important for entrepreneurs?

Harvesting from Your Venture’s Value This Article supports our belief that having a harvest goal in mind and creating an exit strategy to achieve it are what separate successful entrepreneurs from the rest. Clearly, the main objective of professional entrepreneurs is to create economic value. It is unfortunate that little attention in the entrepreneurial world has been given to exiting a business

Read more

What is a global entrepreneur?

Discussions of Global Global for the Entrepreneur As we have discussed, strategic motives must drive the decisions to conduct business globally. But what is your action plan? Where do you begin? How do you begin? Which markets should be entered first? What would be the optimal mode of entry? How rapidly should you expand globally? Definition of global entrepreneur: – A

Read more

How do entrepreneurs create and manage their networked enterprise?

Discussions About Creating and Managing the Networked Enterprise In a Journal of Marketing article entitled “Marketing in the Network Economy,” Ravi Achrol and Philip Kotler introduced the concepts of a networked organization. They define a networked enterprise as an interdependent coalition of task- or skill-specialized business entities (independent ventures or autonomous organizational units) that operates without hierarchical control but is

Read more

Why do entrepreneurs need a growth strategy?

Discussions about Creating Your Growth Strategy Growth is the very essence of entrepreneurship. Growth is the only vehicle that will deliver returns to your investors. And as we discuss in a previous Article, uncertainty and risk are a vicious cycle in high growth-potential ventures. Uncertainty and risk increase because the number of elements in the venture increases, the differences among those elements

Read more

What are marketing and sales objectives for entrepreneurs?

Discussions About Setting Marketing And Sales Objectives The first objective of any business venture is to figure out how to gain paying customers. A great product without customers is not a business, though it may be a little more than a science project. Marketing involves increasing customer awareness, delivering a well-thought-out message about your product or service, and identifying customer

Read more

How do entrepreneurs find a value gap in their ecosystem for market entry?

Discussions About The Value Chain Some influential business thinkers, most notably Michael Porter at Harvard Business School, have introduced the concepts of value chains that we discuss here. When a company enters and competes in any industry it performs a number of discrete but interconnected value-creating activities. Examples are engineering and designing, producing and marketing, warehousing and shipping, and servicing and

Read more

What are the critical capital resources for an entrepreneur?

Discussion About Assessing Your Critical Capital Resources Leadership, as we discussed in a previous Article, requires marshalling resources cooperatively toward a goal while simultaneously preserving and encouraging a strategic vision. To successfully execute a business plan, in order to translate the business concept into a reality, entrepreneurs have to surround themselves with the right mix of resources, which includes people,

Read more
« Older Entries Recent Entries »