Week 5 Reading Reflection

The biggest surprise in this week's reading was how many of the common pitfalls encountered in selecting new ventures seem to be common sense. For example, the book says that two main issues people run into are ignorance of legal issues and lack of venture uniqueness. When starting a business, one would think that making sure their product is unique and, of course, legal, would be of top priority. However, there are so many facets of starting a venture that I suppose some things can fall to the wayside. I was confused when the book talked about growth patterns in the start-up phase of a new venture, since I don't understand how entrepreneurs can predict how many of their product will sell at a certain time. I would ask the author which approach they would recommend for starting a venture: the feasibility criteria approach or the technical feasibility approach. I would also ask why they would choose that specific approach, and I would ask to gain further insight into those two topics. I agreed with what the author said for this week's reading.