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A business with no employees and hard assets may also be difficult to sell, vintage horse live life someone left the gate open doormat because potential buyers will probably worry that the company will vanish when the founder departs.

vintage horse live life someone left the gate open doormat

Mrs. Fields Cookies shop exactly how to make cookies and operate the business. The software analyzes data such as local weather conditions vintage horse live life someone left the gate open doormat and the day of the week to generate hourly instructions about such matters as which cookies to bake, when to offer free samples, and when to reorder chocolate chips. Few entrepreneurs start out with both a well-defined strategy and a plan for developing an organization that can achieve that strategy. In fact, many start-ups, which don’t have formal control systems, decision-making processes, or clear roles for employees, can hardly be called organizations. The founders of such ventures improvise. They perform most of the important functions themselves and make decisions as they go along. The hard infrastructure an entrepreneurial company needs depends on its goals and strategies.

(See the insert “Investing in Organizational Infrastructure.”) Some entrepreneurs want to build geographically dispersed businesses, realize synergies by sharing resources across business units, establish first-mover advantages through rapid growth, and eventually go public. They must invest more in organizational infrastructure than their counterparts who want to build simple, single-location businesses at a cautious pace. For a new venture to survive, some resources that initially are external may have to become internal. Many start-ups operate at first as virtual enterprises because the founders cannot afford to produce in-house and hire employees, and because they value flexibility. But the flexibility that comes from owning few resources is a double-edged sword. Just as a young company is free to stop placing orders, suppliers can stop filling them. Furthermore, a company with no assets signals to customers and potential investors that the entrepreneur may not be committed for the long haul.