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Some Suggestions for Writing Business Plans that Raise Money Notes for discussion Kenneth P. Morse Senior Lecturer and Managing Director MIT Entrepreneurship Center 55 Hayward Street, E39-115 Cambridge, MA 02142 USA phone: +1-617-253-8653 fax: +1-617-253-8633 e-mail: email@example.com http://entrepreneurship.mit.edu
IT WAS the best of times, it was the worst of times , it was the age of wisdom, it was the age of foolishness, it was the epoch of belief, it was the epoch of incredulity, it was the season of Light, it was the season of Darkness, it was the spring of hope, it was the winter of despair, we had everything before us, we had nothing before us, we were all going direct to Heaven, we were all going direct the other way- in short, the period was so far like the present period, that some of its noisiest authorities insisted on its being received, for good or for evil, in the superlative degree of comparison only. Tale of Two Cities , Charles Dickens
Traditional vs. Entrepreneurial Career Paths High School University Big Company Retire High School University Practical Experience Management Training Well Managed, High Growth Firm Startup Venture Another Startup? Venture Capital or Angel Investor Never really retire
Some Critical Success Factors in Entrepreneurship
Believe that Startup Ventures can Succeed:
Parent(s) who are entrepreneurs
Early contact with successful entrepreneurs
Exposure to success stories and case studies.
Gain practical, real world experience before, during and after university studies.
Be willing to be Unusual/Unconventional.
Agree to Embrace Risk, and possibly failure.
Want to leave a large Company.
Live in a society that sees the above as normal, not a strange exception.