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Understanding Finance

Understanding Finance

Second, we must provide a conceptual foundation for effective entrepreneurship that is based upon success enhancement through failure prevention. Training individuals to succeed by preventing unproductive failure, is a substantial departure from the prevailing approach. Today, much effort is being expended to identify the list of success factors for new ventures. Whether intended or not, the search for this list implies that there is a complete recipe for venture success. But, the success recipe approach has limitations. Our approach which seeks to enhance venture success through systematically eliminating the causes of failure (see Preface-Venture Success Through Failure Prevention) has greater promise. Specifically, our approach promises, through training, to reduce unproductive new venture failure – the probability that a venture will be “selected for” in the “survival of the fittest” ecology of the free enterprise system.

Turbotax Business 2017

What does this have to do with you and your business? All … Read More