Some Basics to Starting Your Business

Thanks to Miki at Leadership Turn for finding this link from the Harvard Business School.  The article is called Sharpening Your Skills: Starting a Business.  She sent the link for me to use as a reference to answer questions about entrepreneurship, but I thought it would also be beneficial to share this with everyone else.

For instance, there is an article that discusses the process of turning potential into profit.

The key lesson is you need to have enough awareness of product alternatives that come from the technology, and of customer needs that come from pressures in the marketplace, to see where opportunity will emerge. What that means is that most MBA students should go to work in an area they think is going to be hot—and they’ve got to anticipate where it’s going to be hot—and then build up a deep knowledge of who the good engineers are, who the interesting customers are, what the right channels are, and who the essential business partners are. So, when they go out on their own, they bring a rich and relevant Rolodex along with them on the journey. Turning high-potential ventures into high-performance ventures is always an elegant combination of know what, know-how, and know who! – Joseph Lassiter