Enterprise

 

Start-Up Venture

7 Characteristics of Successful Entrepreneurial Firms

 

By National Business Incubation Association (NBIA)

 

  1. An effective management team that works cooperatively and consists of members selected to provide a range of knowledge and skills

  2. Sound financing, the earlier the better. Funding is directly related to a firm's success, and in some cases can be the deciding factor between a business venture's success and failure

Venture Financing Process: 4 Steps

  1. Principals who make business decisions based on a clear understanding of the market and the competition, rather than their own enchantment with their product or service

The Tao of Customer Value Creation

  1. Principals who keep on top of best business practices by surrounding themselves with knowledgeable people, remaining open to advice and ideas and being willing and ready to make changes based on new information

  1. A well-researched business plan that provides clear direction and focus

8 Key Entrepreneurial Questions

  1. Principals who are good money managers and remain in control of the venture's books

  2. Entrepreneurs who are passionate about their ventures and communicate that excitement to potential investors, customers and mentors

         

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