One thing that stood out to me was when the author mentioned
ignorance of legal issues as a pitfall for new ventures. Reading that
reinforced my plan to graduate with an Accounting Major and Entrepreneurship
minor and then go to law school. I hope to use my legal and business knowledge
to successfully be my own boss and avoid making those kinds of mistakes. I was
a little confused when Kuratko was talking about the failure process of a newly
founded firm. Terms such as static solidity, static liquidity, dynamic
solidity, and dynamic liquidity were completely new to me. Other things such as
velocity of capital I had heard before but still didn’t have a huge grasp of
what it was. Therefore, I would ask the author to expand on how to properly
navigate the pre start and start-up phase in order to achieve goals. Also, I
would ask how to properly complete a profile analysis in the first stage in
order to gain marketing momentum. I think that the author underestimated the
perception of wealth component of new-venture motivation, specifically in
recent years.
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