by francine Hardaway on September 6, 2007

Merlin Ward, a student of mine last semester in the College of Entrepreneurship at Grand Canyon University, has written a thoughtful post on his blog, Sunday Nap about the need for a support group and partners in building any business or concept. He says there are three things an entrepreneur needs: a great idea, capital, and support. He puts support third. I’d put it first.

Many businesses have been built around ideas that are less than great. Arguably, even the spectacularly successful Facebook is not a great idea. Just an adaptation to the web of an existing idea (the college student directory). Moving something from one medium (print) to the Internet isn’t necessarily a great idea.

Just as many businesses have been built without capital. Web 2.0 businesses aren’t in need of much capital; many of them are built by one guy who knows how to code and sets up a site that “goes viral.”

But very few businesses are built without support, because no one can do everything and no one knows everything.

I’d put support first. But that’s not to take away from what Merlin has written. He’s a good thinker. And the Initiative he’s announcing, Club Entrepreneur Network, is a great thought.

Leave a Comment

Previous post:

Next post: