New Venture Strategies: Transforming Caterpillars into Butterflies

Abstract

Newly launched ventures face an uncertain future. Careful planning and organizing in the pre-launch stage can reduce this uncertainty. However, as these ventures are launched, they have to manage the powerful and unpredictable forces of the market and competition. They have to learn to maneuver and fly their way into existence and survival. They need also to be clever in selecting their markets, assembling their resources, defining their strategic thrusts and determining their competitive weapons. These ventures need to learn and conceive of new ways to compete. By crafting creative competitive, cooperative and political strategies, entrepreneurs give their ventures the power to survive, make a profit and grow.