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1、New Venture Creation: From Theory to Practice全琳14210690688全琳14210690688SCHOOL OF MANAGEMENT, FUDAN UNIVERSITYNew Venture Creation: From Theory to Practice全琳142106906881.What are the top 3 challenges when starting a business?All of us can picture the scenarioi
2、n our brainsabout how difficult to start a business. The first step is always the hardest, which means that cost troublesome.However,as we knewall greatest warriors and heroes in our history as who had to launch their careers from steps by steps.The truth is
3、it can have great return but with great risk, therefore, the best waytofulfill targets is we face the challenges at the first beginning.Yet despite the vast universe of possibilities, there are a few essential elements you need to pay attention before startin
4、g a business, any business.Threetopchallenges are essential elements from my viewwhen launchinga business. 1) The first is the most obvious: The entrepreneurscan notsuittheir jobsif they have no enoughcapabilities to handle all kinds of problem as makingright
5、 decisions,raising moneyand expandingthe market.Besides, they must bebrave and resourceful,conscientious and cautious, very strong determination and perseverance.We can prove this issue from two parts: a) Angel investors always say they investtheentrepreneurs
6、instead of the business. b) Successful entrepreneurs understand that they must work on their business, not in their business. Getting caught up in the minutiae of presentations, phone calls, meetings, and emails can distract the entrepreneur from the heart of
7、 the business.They need to capable of dealing withall things and stayconscious forkey objectives.2) The secondmajor challenge is:The entrepreneurs couldor could not grasp the transient opportunities of marketthat doesnot matter about thequality ofproducts and
8、 services at the first beginning.The ideas that spark startups are generally formed in response to current problems in an industry, business model, society or location. The sectors startu
