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The easiest way to avoid the pitfall of no commitment or dedication is to designate that
the venture is a hobby or a whim.
Not all corporate entrepreneurial behavior is good for the organization. Why?
Financial information pulls together all the information presented in the other segments
of the business.
The two parts of a patent application are specification and claims.
The pro forma balance sheet is used in the critical risk segment of the business plan.
The term risk versus loss refers to the amount of return for funds invested.
Large firms, as opposed to entrepreneurs, are the aggressive catalyst for change in the
world of business.
Although family members may not play an active role in the business, they still may
want to inherit part of the business.
The decision of an entrepreneur to ignore the market is a safe one if he or she is sure
that the idea will be a success.
What are the four critical steps to consider in developing a succession strategy in a
family business?
