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Effectual Reasoning: Hallmark of an Entrepreneur

Just read a fantastic article on 'What Makes Entrepreneurs Entrepreneurial'.

"Yet, in our classrooms we teach potential entrepreneurs an extremely causal process-the sequential progression from idea to market research, to financial projections, to team, to business plan,to financing, to prototype, to market, to exit, with the caveat, ofcourse that surprises happen along the way.Seasoned entrepreneurs, however, know that surprises are not deviations from the path.Instead they are the norm, the flora and the fauna of the landscape, from which one learns to forge a path through the jungle.The unexpected is the stuff of entreprenurial experience and transforming the unpredictable into the utterly mundane is the special domain of the expert entrepreneur."

If you are an entreprenur, or thinking of becoming one, or simply interested in the topic of entrepreneurship, this article is a MUST READ.It is one of the best pieces I have read in recent times.

Credits: The article was written by Saras D.Sarasvathy, and is available for download from this link.

I found the link browsing through Venture Woods.

I will be doing longer posts on the VC situation and internet resources for startups in India, in a couple of days.