A Review on Building Skills to Implement an Entrepreneurial Vision

A regular pattern of companies opening, and closing can be observed. There doesn't seem to be an industry or sector that is immune to it. A lack of jobs has negative consequences on people as they become unemployed, commercial spaces remain empty and entrepreneurs are left unsure whether to start new businesses. It is, therefore, curious to know why some ventures succeed spectacularly while others struggle to survive or close after a few years. Many academicians, industry people, and development professionals who strive to sustain and expand such businesses would benefit from knowing why this is the case. It seems that most businesses eventually reach a point where they either expand, contract, or close after observing continuous openings and closings in quick succession. There exists a determining factor that ultimately forces entrepreneurs to choose one among these three options. This phenomenon is not supported by specific research data. Entrepreneurs can tide over the uncertainties and vulnerabilities associated with their endeavors by identifying some qualities and characteristics that help them.