Would-be founders often misplace their energies, however. In fact, what it takes to start a business often conflicts with what venture capitalists require.
Investors prefer solid plans, well-defined markets, and track records.
Entrepreneurs may be better off without them. Entrepreneurs are heavy on energy and enthusiasm but may be short on credentials. They thrive in rapidly changing environments where uncertain prospects may scare off established companies. Rolling with the punches is often more important than formal plans. Growth and change are the start-up's natural environment.