Entrepreneurial Expertise
by Brad Bertoch
Dec 22, 2010 | 4865 views | 1 1 comments | 29 29 recommendations | email to a friend | print
After more than 25 years of studying entrepreneurs, Dr. Karl Vesper suggested in 1996 six skill subscripts that experienced individual venturers utilize in venture creation. They include searching, screening, planning/financing, set-up, start-up, and ongoing orchestration. Each of these skill sets contains unique knowledge, and when combined, forms an entrepreneur's master script:



  1. Searching. In the search process an individual connects with other persons (the marketplace), and identifies works (products or services that these persons want), that this individual can produce competitively.


  2. Screening. In the screening process an individual assesses the proposed work (products or services that other persons might want), to estimate their promise to profitably satisfy the wants of other persons (the marketplace).


  3. Planning/Financing. In the planning/financing process an individual must gather, process, understand, and utilize the information necessary to organize the delivery of the work (both the products or services that other persons want and the venture as a finance product) to other persons (the marketplace). This includes the writing of the business plan and the use of this plan to finance the venture.


  4. Set-up. In the set-up process an individual connects with other persons (the marketplace), and creates the venture that will produce competitively the works (products or services that these persons want).


  5. Start-up. In the start-up process an individual focuses on the wants of other persons (in the marketplace), and begins the process of production and sale of the work (products or services that the venture produces) to satisfy the wants of other persons (the marketplace)


  6. Ongoing Orchestration. In the ongoing orchestration process an individual must gather, process, understand, and utilize the information necessary to continue the delivery of the work (both the products or services that other persons want and the venture as a finance product) to other persons (the marketplace). This includes the implementation of the operations plan and the use of this plan to produce the results that the venture was created to accomplish. 


Comments
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June 01, 2011
Great article, it was very helpful. It left me with only one question:

With all the new advancements in technology since 1996, have there been any changes to the "entrepreneur's master script"? I mean, it has been 15 years.

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