By Martin Thomas 

For many, it is a mystery exactly what an entrepreneur does, however most have some fair idea that they are business people. This is only half the truth, entrepreneurs are essentially deal makers and ideas people.

An entrepreneur uncovers existing circumstances which he sews together into a deal. An entrepreneur typically focuses in certain areas of expertise, however they are more interested in the manufacture of money than having any sort of loyalty to any particular business area.

Most successful entrepreneurs have a projects archive. An idea that has some “legs” is typically investigated thoroughly and the results recorded and filed if the individual cannot act on it immediately for any particular reason, or the idea may just prove not to be as viable as first thought.

This type of feasibility study is crucial in any venture. A list of questions is created surrounding the product or service developed for the idea. Actual potential customers are poled for their opinions and their responses meticulously recorded. This type of documentation is crucial for securing private venture capital and is part of the “burden of proof” a successful entrepreneur offers potential financial backers.

With a well defined feasibility study in his/her brief case, an entrepreneur can leverage this document and the project summary by simply sending it off to his lawyer, who will fax it off to various interest groups that may be willing to fund the project. Getting venture capital is one of the most important roles for an entrepreneur as they rarely use their own funds to develop a project because they would be too close to it and their vested interest can muddy the clarity of their decisions.

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