A. The Timmons Model of the Entrepreneurial Process change the odds of the success of the organization, how can we fix it (the odds), shape it, mold it by figuring out how to fill the gaps and improve the fit and attract key players who can add such value, then if it will happen the odds for success rise significantly in order for them towards sustainability. Through recognizing the risks they will manage better the process and garner more return. The model is like a juggler bouncing up and down on a trampoline that is moving on a conveyer belt at unpredictable speeds and directions while trying to keep all three balls in the air, just like the dynamic nature of an early-stage startup that trying to drive the forces underlying the successful new venture creation (opportunity, resources, team).
B. The entrepreneurial process change:
*Opportunity is the heart of the process which is a stroke of good fortune which presents itself and can either be grasped or lost. The greater the growth, size, durability, and robustness of the gross and net margins and free cash flow, the greater the opportunity market demand is a key ingredient to measure it, market structure and size defines it, and the market analysis helps differentiate an opportunity from an idea; Next is
*Resources, which are compose of financial resources, assets, people, and business plan that help the organization grow and success, but thinking money first is a big mistake for having a little resources make you creative and parsimonious for how can you be creative of your resources if you could not minimize your resources? For resources encourage discipline of leanness, where everyone knows that every dollar count and the principle conserve equity;
*TheEntrepreneurial Team is a critical ingredient for success. It compose of an entrepreneurial leader who learns and teaches, deals with adversity, exhibit integrity, dependability, honesty, and builds entrepreneurial culture and organization and it also compose of the quality team who possess relevant experience and track record, motivation to excel, commitment, determination, and persistence, tolerance of risk, ambiguity and uncertainty, creativity, team locus of control, adaptability, opportunity obsession, leadership and courage, and communication. This Timmons Model of Entrepreneurial process is opportunity driven, it is driven by lead entrepreneur and entrepreneurial team, it is resource parsimonious and creative, it depends on the fit and balance among these, it is integrated and holistic, and it is sustainable.