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Unformatted text preview: eveloped into a full-fledged new venture.
• Talk to potential target customers
• Discuss it with production or logistics managers
• Conduct feasibility analysis
8-14 Characteristics of Good Opportunities
• Value creating 8-15 Financial Resources
• The types of financial resources that may
be needed depend on two factors: the
stage of venture development and the
scale of the venture.
• To obtain funding for rapid growth, firms
often seek venture capital.
8-16 Financing New Ventures 8-17 Entrepreneurial Resources
• Human capital
• Social capital
• Government resources Small Business Administration Government contracting State and local governments
8-18 Entrepreneurial Leadership
• Launching a new venture requires a
special kind of leadership Courage Belief in one’s convictions Energy to work hard 8-19 Entrepreneurial Leadership
characteristics Vision Dedication and drive Commitment to
excellence 8-20 Entrepreneurial Leadership
• Vision may be entrepreneur’s most important
asset Ability to envision realities that do not yet exist Exercise a kind of transformational leadership Able to share with others 8-21 Entrepreneurial Leadership
• Dedication and drive are reflected in hard
work Patience Stamina Willingness to work long hours Internal moti...
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