Scott Shane is an entrepreneurship academic who I read regularly as I complete my PhD in Entrepreneurship. Apparently he has a new book out right now, The Illusions of Entrepreneurship; looks like a great read. BusinessWeek has a nice playbook feature with him called, “A Better Way to Start a Business.”that offers some great tips; you can see his research base in the tips. Here are two of the tips:
Start with a team. More than half of new businesses are started by individuals, “even though the performance of new businesses founded by teams is better,” writes Shane. Going in alone lowers your chances of success.
Start marketing. Lots of startups neglect marketing early on, “even though new companies that start marketing sooner, and that emphasize the implementation of marketing plans, perform better than other startups,” Shane writes.
Many of the tips are spot on — from my experience — and I plan to keep this list around while as I launch my new venture over the next few months.