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Chapter 1. Franchising as Entrepreneursh... > What It Means to Be Entrepreneurial

What It Means to Be Entrepreneurial

Entrepreneurship, according to Howard Stevenson of the Harvard Business School, is “exploiting an opportunity regardless of the resources currently available.” Stevenson goes on to say, “The key to this perspective is the focus on opportunity” (not on resources).

What does it mean to focus on opportunity instead of on resources? Think about baking a pie. If we focus on resources, we first line up the required ingredients. The next step is to combine the ingredients in just the right amounts. But if we are looking at this as an opportunity, first we consider whether the pie is even what people want to eat. If the answer is yes, then we find out what kind of pie people want and figure out how to deliver a better, faster, cheaper one. Business development is not a zero-sum game. Where some see competition, or winners and losers, entrepreneurs see wealth creation for a larger set of stakeholders and ultimately for society.


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