According to the Timmons Model,which of the following is true of resources as a key element in an entrepreneurial process?
A) An entrepreneur should stay away from bootstrapping,especially with new ventures.
B) An entrepreneur must understand that having too much money early on in the venture is the biggest factor that contributes to its success.
C) An entrepreneur must avoid doing more with fewer resources as it is detrimental to a company's competitive advantage.
D) An entrepreneur must strive to minimize and control resources,but not necessarily own them.

Question

Quizplus · Accepted Answer

According to the Timmons Model, an entrepreneur must strive to minimize and control resources but not necessarily own them. This means that an entrepreneur should focus on acquiring resources only if they are necessary for the successful execution of the venture. The model emphasizes the importance of being resourceful and doing more with fewer resources to gain a competitive advantage. Bootstrapping, or starting a venture with minimal external funding, is often encouraged in the early stages of a venture to minimize resource use and retain control over the company. Too much money early on can lead to wasteful spending and lack of focus, which can be detrimental to the success of the venture.

According to the Timmons Model,which of the Following Is True