Learning Journal: The Entrepreneur‘s Skills, Abilities

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Summary
Investors are interested in the financial viability of a business when investing and most business plans highlight the financial projections, but it is even more important to focus on the people, opportunity, context, as well as the possible risk and reward (Sahlman, 1997). Evaluating business plan helps to evaluate the viability of a new business venture and venture team and the business plans ought to provide clues on the team members’ knowledge, type product or service, the production processes and likely competitiveness (Sahlman, 1997). Before launching new ventures, entrepreneurs need to create effective business plans and be well prepared, while the source of the capital is more important compared to the terms of the capital (Chen, Yao & Kotha, 2009). The entrepreneur‘s skills, abilities, and other dynamics in entrepreneurship can help improve the new venture, and entrepreneurs need to ask the right questions o ensure the business is successfu...