Research has enabled us to identify a stereotypical entrepreneur.

Choosing a good attorney is a time-consuming but vital task that should be accomplished immediately after startup.

Businesses create a lot of knowledge for their owners and that knowledge has no intrinsic value.

The North American Industry Classification System (NAICS) is the classification system that the United States, Canada, and Mexico developed to identify industries and to allow for common standards and statistics across North America.

When choosing a banker, the entrepreneur planning a new venture should seek out an officer with a rank of assistant vice president or higher.

An economic base is the region from which an entrepreneur expects to draw customers.

Each time a new product or service or an improvement to an existing product or service is introduced, it will have gone through a complex design and development process.

In reality, a great deal of luck is more important than thought and effort before a company’s products or services ever successfully reach the market.

Drucker’s five questions are the basis for the development of a business model.

Entrepreneurship is simply starting a business.