A Resource for Entrepreneurs

Entrepreneurship begins with the recognition of a real need. Successful entrepreneurship requires finding a resource efficient path to a viable model — a path that involves continual learning and adapting to new information.

There are many approaches to entrepreneurship available today. Many of them are different ways of saying the same things. Many different descriptions of the entrepreneurial process may reflect differences in tastes for words. Some may reflect differences in substance. Entrepreneurial success comes from careful thought, common sense, and persistent execution. This Manual is one outline of the entrepreneurial process. It is intended to capture the general principles of entrepreneurship and to apply to all forms of new venture creation. Two basic principles lie at the heart of this approach (expressed as the first two laws of entrepreneurship below). The first is that entrepreneurship begins with the recognition of a real need. Entrepreneurs can change the world, but not by imposing their will. Rather, they change the world by tapping into an unmet need and devise a creative compelling solution. The second is that successful entrepreneurship requires finding a resource efficient path to a viable model — a path that involves continual learning and adapting to new information.