Not So Fast!
Studies show many of you aren't looking before you leap.
By David Newton •
Opinions expressed by Entrepreneur contributors are their own.
This new column distills the best new academic research intostrategies you can use today.
Entrepreneurs are often praised as visionaries. But vision aloneisn't enough to ensure success. In the article "Biases,Misperceptions, and the Introduction of Pioneering Products,"(Entrepreneurship Theory and Practice, Winter 2002) SusanHoughton and Mark Simon found that entrepreneurs evaluating newopportunities tend to overestimate demand, underestimatecompetition, and misjudge the need for more assets to make theopportunity a success.
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