1) I was surprised that the life cycle of a typical venture could be so basically simplified down to five stages. I assumed the stages of the life cycle would be different for each venture, depending on what it is and how it comes about.
2) I found myself confused as to why some people choose not to use strategic planning. I would think anyone starting a new venture would want to do anything possible to ensure it's success.
3) Two questions I would like to ask the author, in order to get the perspective of an experienced professional, are: Have you personally used strategic planning? How have you personally maintained a balance between entrepreneurial and managerial approaches?
4) I somewhat disagree with the section on tolerance of failure. I think the word failure is thrown around a lot more frequently than is necessary. While it is important to understand that not everything will go the way you planned, it is important to differentiate between setbacks and failure. It's only failure if you give up and don't try to learn from the experience.
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