Research from Cranfield reveals starting out small pays off

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Research from Cranfield reveals starting out small pays off

By: the Bettany Centre for EntrepreneurshipPublished on: 23/11/2012
New research from Professor Andrew Burke of the Bettany Centre for Entrepreneurship at Cranfield School of Management has revealed that entrepreneurs who work alone instead of hiring staff in the early days of their new business venture are more likely to succeed in the long-term.

The research which was jointly undertaken with Panteia/EIM in the Netherlands and the University of Huelva in Spain, concluded that by starting small, the entrepreneur can find out whether there is demand for a product or service before investing more heavily in the business. This way the entrepreneur reduces risk and has more flexibility to adjust the business idea based on feedback.

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Some other articles about the research here and here.

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