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In general, manufacturing and production firms are organized as product- or process-focused organizations.

There probably is no single best organizational structure for all types of ventures in all situations.

A product life cycle is analogous to an industry life cycle, with periods of new product development, market introduction, growth, maturity, and decline.

To operate as a sole proprietor requires very little—only a DBA (doing business as), and not even that if you use your own name as the name for the business.

Every business, no matter how small, has intellectual property (IP) rights associated with it.

Because entrepreneurs always approach product development in the same systematic way that large companies do, they are affected by the need to address the weakest link in their new product strategy to avoid failure.

Design thinking can be thought of as groups of related activities that move from inspiration to ideation to implementation.

Each time a new product or service or an improvement to an existing product or service is introduced, it will have gone through a complex design and development process.

Entrepreneurship is simply starting a business.

A new venture’s health is measured by its balance sheet.