An IELD has unique capabilities because of specialized knowledge about venturing, generally in a particular field.  An example might be a technical specialist or engineer in a large company who has been able to observe corporate venturing first hand as an employee vs. entrepreneur.  When this expertise is combined with the willingness to venture, it provides opportunities which should not be undervalued.  However, the IELD lacks entrepreneurial resources, and may not be aware of the importance of his/her expertise to discern whether a venture in his/her area of specialty is "on" or "off' course.

This venture type can sometimes reveal a candidate for early-stage backing: to take a talented specialist who is willing to venture, and get a new business off the ground.

WHAT TO DO:

The best thing for an IELD to do if intending to get involved in a new venture, is to locate a venture capital partner .  Without such a partner it is unlikely that either the resources or the conscious connection to the entrepreneurial success patterns will be available to you.  A partnership or other arrangement with an individual, entity, or group which possesses the money and expertise to back an IELD, fills the "holes" in this venturing profile.  This linkage with experts and resources can improve the prospects for success.

If an IELD wishes to improve his or her own venture profile, then taking steps which enhance "consciousness" of the elements of the new venture success script is the place to start.  Preliminary indications are that approximately 8% of people fit this profile.
 

©Copyright 1998-2003 Ron K. Mitchell under license to Wayne Brown Institute