Balance Internal and External
Manage the venture
internally as well as monitor, analyze and respond to the external
While some homogeneity must exist for the
entrepreneurial team to function, it is heterogeneity and
synergized diversities that
help the team demonstrate superior performance, especially in
turbulent environments and markets. A heterogeneous team can create
innovative synergies and make more comprehensive decisions by
considering more options for action.
Be Strategically Flexible
Keep adapting your
venture strategies as the growth market changes and provides the
combination of present market size and rapid increases in demand.