The new generation of entrepreneurial strategies and business framework created a new approach for entrepreneurs and business managers to focus on. Lean Startup by Eric Ries and Steve Blank’s customer development mostly provide strategic frameworks from which the entrepreneur can have the startup approach, while business model generation provides the base for the planning and mostly guides how to organize the process and plan for the business. These frameworks have many positive points as well as some challenges that we…
I have mentioned the term opportunity trap in my previous post, Stages of Firm’s Development and the Golden Eagle Strategy. The two words trap and opportunity together create a paradoxical term which is the result of poor opportunity recognition. This misjudging mostly accounts for the lack of panoramic view and prey focus that can cause fatal problems to any enterprise. The term trap came to my mind when I first was trapped myself in what I called later opportunity trap.
One of the major aims of the golden eagle strategy is to create a roadmap for companies to have a successful and sustainable business. Each company faces different challenges during their road trip and they have different stages to pass. The golden eagle strategy is applicable to all stages of the firm development.