George Zeigler
11.28.11
Pro Prac
Entrepreneurial Road Test – Summary
John Mullins gives an introductory “road test” account of the steps an entrepreneur should take in assessing the potential success of a new business concept. Mullins process is based on a model he refers to as the “seven domains of attractive opportunities,” which outlines a basic set of considerations that spans the three key parts of the business chain: market, industry, and management (which he refers to as the team). Another important aspect of the model is its bilateral focus on the macro- and micro- levels of each part of the chain: the key to success is in addressing both the objective and quantitative strengths of one’s business plan as well as particular attributes that bring more specific focus and skills, and potentially add a qualitative, unique strengths that give clear competitive advantage. Mullins stresses that weighing domains against one another will expose inequalities, but it is important to remember that greater strengths in particular areas can compensate for weaknesses in others, and will educate the entrepreneur on the appropriate placement of his business on a more micro level.
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