Describe how Timmons Model of the Entrepreneurial Process changed the odds of the success of the organization, how can we fix it, shape it, and mold it and describe in general how the model works using examples, metaphors, or analogy
.
.
The Timmons Model identifies three components of the entrepreneurship process that can be assessed, influenced, shaped, and altered. The entrepreneur is responsible for assessing the opportunity, marshaling resources to capture the opportunity, and developing a team to exploit the opportunity for value creation. An appropriate metaphor for the Timmons Model is juggler bouncing up and down on a trampoline that is moving on a conveyor belt at unpredictable speeds and directions, while to keep all three balls in the air. That is the dynamic nature of an early-stage start-up. Few high-growth ventures are started without the assembly of an experienced and skilled team. Creativity, communication, and leadership moderate the strength of the model components and increase the likelihood of ventures success. Finally, the business plan provides the language and code for communicating the quality of the three driving forces of Timmons Model and of their fit and balance.
Leave a Reply