contd.To be or not to be an entrepreneur

well just a quick review of last post wherein i dealt with the  question  i.e. "WHAT MAKES ENTREPRENEUR ENTREPRENEURIAL?".....this post will deal with the seconnd and third  questions (u can refer last post for the questions i am going to answer or u will follow up in the reading )...happy reading  ....do post ur comments and feedback!


Nature of opportunities - creating them versus discovering them
You can either discover an opportunity that already exists (but has not been explored before) or create an opportunity. As an entrepreneur, your idea could fall into either of these two categories. The success of your startup and idea will depend entirely on how you execute your idea and not really on what type of opportunity it is. But understanding what type your idea falls into will definitely aid you in the way you execute it.
A discovered idea is independent of an entrepreneur. It is widely available in the market for anyone to pick up and execute. It is quickly, very quickly, imitable by the others in the marketplace. So if your idea falls into the ‘discovered’ category, you would need to really ensure that you are quick to market and have the right and deep skill sets and resources you need to gain a first entrant/leader position. Speed is the essence with such ideas.
A created idea is indigenous to the entrepreneur. He/she dreams up the idea and its execution will totally depend on how he/she develops it. These ideas are not easily imitable and they frequently change form and factor during their execution. The motivation level and the entrepreneur involvement is what will make these ideas successful or otherwise.
Crossing the entrepreneur chasm
So you have an idea. You even have access to some funds to see you through the uncertain times ahead. But how exactly do you go from idea to startup?

Most people who dream of becoming entrepreneurs encounter their first difficulty when they transition from ‘being just an idea’ to ‘starting up’. The difficult period in between these two stages is what is called the entrepreneur chasm. Most people either give up in this stage or fail to make it across to the other side. They have great ideas, funds, resources, etc - but their venture fails miserably as they don’t pay enough attention to the factors that make the initial startup succeed. The four important factors that can help you manage this transition successfully can be defined clearly - People, Operations, Finance and Dealing with Competition. The way you handle these four factors will determine whether you end up as an entrepreneur or just remain a manager.