Entrepreneurship, Second Edition

4.4. CONCLUSION

This chapter moves beyond opportunity recognition to implementation. Once you understand your business model, it is time to think about how you will enter the marketplace and grow your firm. During entry, you are proving that your business model is viable and profitable. Are customers buying your product at the prices you need to be profitable? As you learn more about your customer and business, you'll modify your original vision. Entry into the marketplace provides a platform to identify new opportunities and to reshape your business so that it is best positioned to grow and thrive. Thus, it's wise to think about your growth strategy from the very beginning. Today that growth is more likely than ever to mean you'll consider international expansion.