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Opportunities
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600,000 new firms have emerged in the United States every year since the early 1990s. The U.S. Patent Office currently reviews more than 375,000 patent applications per year.
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Lack of Objective Evaluation No Real Insight into the Market Inadequate Understanding of Technical Requirements Poor Financial Understanding Lack of Venture Uniqueness Ignorance of Legal Issues
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Types and Classes of First-Year Problems 1. Obtaining external financing 2. Internal financial management 3. Sales/marketing 4. Product development 5. Production/operations management 6. General management 7. Human resource management 8. Economic environment 7/18/12
Leadership 11.1% Adequate Capital 15.9% Organizational Structure 10.8% Accounting Systems 10.4%
Lack of mgt. skill Poor mgt. strategy Lack of capitalization Lack of vision
7/18/12 Poor product
Rank
Entrepreneur 1 2 3 4 5 6
Rank
Lack of mgt. skill 1 Poor mgt. strategy Lack of capitalization Poor external market conditions
2 3 4 5 6
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NewVenture Idea
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