Owning and operating your own business can be empowering and exciting. People often state their desire to be an entrepreneur and to someday own their own business. However, it is seldom discussed what kind of business it will be. It is important for every entrepreneur to step back and take an...

Interdisciplinary cooperation among people trained in technical and economic fields has been identified as an important success factor in new venture teams. However, empirical findings also indicate that individuals often refuse to engage in close and trustful relationships with representatives...

Does business planning have any impact on performance of small and medium enterprises (SMEs)? Despite numerous studies in management and entrepreneurship literature, the answer remains contested. We empirically address the stated research question by exploring the composite business planning...

This paper presents an entrepreneurial optimal business plan in which optimal consumption and portfolio rules, and optimal exit strategy for an entrepreneur are jointly determined in the presence of undiversifiable idiosyncratic risk. We find that the entrepreneur is more likely to exit from her...

Purpose The goal of this research is to investigate the relationship between two different sets of practices, lean startup and business planning, and their relation to entrepreneurial performance. Design/methodology/approach The authors collected data from 120 entrepreneurs across the US about a...

Business Planning and Market Strategy offers students, entrepreneurs, and executives penetrating insights into developing business plans and market strategies that bolster the odds of succeeding in today's highly competitive marketplace. Rather than reduce the planning process to mechanistic,...