For some entrepreneurs, it’s not a question of creating something from scratch, but rather tinkering with someone else’s idea to make it better. There is entrepreneurial vision in both pursuits.
[This article is republished courtesy of INSEAD Knowledge
http://knowledge.insead.edu, the portal to the latest business insights and views of The Business School of the World. Copyright INSEAD 2023]
I\'d beg to differ with the last line. Being an entrepreneur i know that entrepreneurship is not \'all\' about passion. There\'s a famous saying in the entrepreneurial circle: \"If passion be your driver, then let reason hold your reigns.\" Passion is just a component, even a serviceman can have it, even in more proportions. Entrepreneurship is about application - of thought, funds, sales, idea, timing, calculated risk-taking. As far as buying a business is concerned, a lot more factors than abovementioned need to be considered - like the background of the founders, feasibility of the business model, growth prospects, company USP and above all, the vision and REAL ability to execute it.
on Jun 19, 2012