Book contents
- Creating Private Sector Economies in Native America
- Creating Private Sector Economies in Native America
- Copyright page
- Contents
- Figures
- Tables
- Contributors
- Introduction
- Part I The Setting
- Part II Policy Barriers and Policy Needs
- Part III Learning from Business Scholars
- 7 Becoming an Entrepreneur: Essentials for Any Environment
- 8 Prototype, Validate, Pivot, Repeat: A Short, Short Course in Entrepreneurship
- 9 Supply Chain Management and Native American Entrepreneurs
- 10 Mapping the Sustainable Development Goals onto Indian Nations
- Part IV From Learning to Doing: Examples of Entrepreneurship in Indian Country
- Index
8 - Prototype, Validate, Pivot, Repeat: A Short, Short Course in Entrepreneurship
from Part III - Learning from Business Scholars
Published online by Cambridge University Press: 15 October 2019
- Creating Private Sector Economies in Native America
- Creating Private Sector Economies in Native America
- Copyright page
- Contents
- Figures
- Tables
- Contributors
- Introduction
- Part I The Setting
- Part II Policy Barriers and Policy Needs
- Part III Learning from Business Scholars
- 7 Becoming an Entrepreneur: Essentials for Any Environment
- 8 Prototype, Validate, Pivot, Repeat: A Short, Short Course in Entrepreneurship
- 9 Supply Chain Management and Native American Entrepreneurs
- 10 Mapping the Sustainable Development Goals onto Indian Nations
- Part IV From Learning to Doing: Examples of Entrepreneurship in Indian Country
- Index
Summary
Entrepreneurship is a process that applies to all types and sizes of tribal organizations. This chapter reviews steps in the process of preparing an idea for implementation. In its simplest version, this entails creating an idea, testing that idea with buyers, and making adaptive changes to the idea as it evolves. By focusing on the concept of “value creation,” an entrepreneur ensures that new products and services are not only feasible to create, but also have a market of potential buyers. Validating new products and services with potential buyers before large sums are invested (being “lean”) helps to reduce some of the financial risk inherent in new ventures. Native American entrepreneurs often use their cultural identity as the basis of their business model. Business models and strategies specific to American Indian entrepreneurs are discussed.
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- Creating Private Sector Economies in Native AmericaSustainable Development through Entrepreneurship, pp. 153 - 169Publisher: Cambridge University PressPrint publication year: 2019
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