Comprehensive Report: Launching a New Web Design Business Venture

This report analyzes the launch of "Internet Solution," a web design and development company based in London, UK. It covers key aspects of launching a new venture, including identifying the target market and conducting a competitive analysis. The report details the tangible and intangible resources required, such as computers, software, and human resources. It also includes a business proposal outlining the company's mission, objectives, and market analysis, along with a plan for promotional activities, and a cash budget. The report suggests an appropriate legal form for the venture. The assignment emphasizes the importance of market research, competitor analysis, and strategic planning for the success of the new business. It also covers the initial investment, objectives, missions, and the resources required to start and operate the business, offering a comprehensive overview of the entrepreneurial process.

Launching A New Venture

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1 ...........................................................................................................................................1
P1 Investigate a new venture identifying specific target market and competitive analysis........1
P2 Requirement of tangible and intangible requality approvedsources for a new venture.........3
TASK 2............................................................................................................................................4
P3 Produce a credible proposal for launching a new venture.....................................................4
P4 Assess skills and abilities which required to launch a new venture......................................6
TASK 3............................................................................................................................................7
P5 Different promotional activities and channels that support the launch and justify choice....7
P6 Develop promotional activities plan for both launch and pre-launch....................................8
TASK 4............................................................................................................................................9
P7 Produce a cash budget for new venture.................................................................................9
P8 Suggest an appropriate legal form for the venture.................................................................9
CONCLUSION................................................................................................................................9
REFRENCES.................................................................................................................................10

INTRODUCTION
Entrepreneur start a new venture with the aim of developing business enterprise and
generate profits. It is not an easy task to launch a new business in rapid change or several
challenges, therefore in this focus on reducing some common factors which face by entrepreneur
during start ups and creating a entrepreneurial culture in large firms (Baron, 2011). Launching a
new venture support in improving analytical skills, make better management decisions and sound
investment, develop or enhance leadership skills and abilities to manage business growth and
revolutionary change. This report is based on ''Internet solution'' which is Web Design or
Development Company. It is a new venture as well as start up that serves various services or
solutions to clients and situated at London, UK. Services including e-commerce solution, Drupal,
Joomla, Wordpess, search engine optimisations (SEO), Content management system (CMS) and
content writing which are providing to another businesses or any individuals for their web
designing. This assignment identify target market and competitors for new business. There will
requires tangibles or intangibles resources and produce proposal for launching venture. This will
assess skills and capabilities to develop venture. It also define promotional activities and cash
budget during launching and suggest appropriate legal structure.
TASK 1
P1 Investigate a new venture identifying specific target market and competitive analysis
''Internet solution'' is a web designing company which deals in providing several services
to clients regarding internet and solutions. It is the most important part for every individuals and
businessmen that to have own company's websites or web page so that more customers can be
attracted through internet connections. This is one the best business which is going rapidly in the
current scenario so, there are lots of demand of web development in the market. Therefore,
entrepreneur decided to launch a new web designing company for providing number of services
to targeted audiences at reasonable prices (Tang, 2011). In this, ''Internet solution'' is serving
facilities regarding content management system, social engine optimisation, drupal, joomla, Pay
per click, internet marketing, e-commerce solutions and wordpress and many more.
Entrepreneur started this venture with bringing new innovative ideas and creative
thinking by considering fresh talents which named ''Internet solution'' and it established in 25000
square feet land near big ban at London, UK. Owner take a place on lease for opening this
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venture and in the future, he will buy his own land if business success. In this consider enough
funds and capital which are required to run the business enterprise in an appropriate manner. It
must be necessary for sustainability and generate profits or revenues within organisation.
Investment Tables:
Estimated Initial Investment
Name of Fee Low High
Initial Franchise Fee $32,000 $40,000
Travel and Living Expenses During Training $4,000 $7,000
3 Months' Rent $26,250 $367,500
Security Deposit for Lease $9,000 $225,000
Leasehold Improvements and Construction Costs (assuming no pool) $1,750,000 $2,800,000
Selectorized Equipment and Free Weights $125,000 $500,000
Cardiovascular Equipment $150,000 $500,000
Signage $35,000 $85,000
Initial Inventory, Other Equipment and Supplies $12,000 $56,000
Computer System and Gym Management System $20,000 $35,000
Advertising and Marketing $25,000 $170,000
Miscellaneous Opening Costs $10,000 $65,000
Additional Funds - 3 Months $20,000 $150,000
TOTAL ESTIMATED INITIAL INVESTMENT* $2,218,250 $5,000,500
Objectives: In order to launch a new venture, there are some objective to accomplishing which is
definite by the partners with common consent. It is effective if prepared in SMART way which
are given as under:
 Specific: Accomplishing large market share of ''Internet solution'' to generate maximum
amount of capital.
 Measurable: Around 65% market share has been targeted to accomplish.
 Achievable: Via giving different type solutions to entire customers.
 Relevancy: It strong the market presence in European country market.
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 Time bound: Within Half year.
Missions: “The main purpose of ''Internet solution'' is to provide better internet solutions
and designing websites for other businesses or individuals so that they can provide information
to their target market and satisfy with effective services”.
This firm wants to become a top web designing company in the UK. It can be possible
through innovative ideas and creativity in the websites with efficient manner.
Market research analysis: This must be required to analyse market conditions and
situations before launching a new business (Bijker, 2012). It is very beneficial to find appropriate
solutions regarding starting a venture because in this consider a environmental study about the
local as well as international market that what is going on, new trends or fashions, technologies
and leaders and many more. This will support in gathering data or information so that ''Internet
solution'' firm can take better decisions regarding start this business at the marketplace.
Competitor analysis: There are number of competitors in the market who already created
positions into customers mind as they are serving numerous services to their clients. Therefore it
is difficult to start a venture and attract customers so that company can develop in an effective
manner. Some major competitors are KD Web Designs, Popcorn Website Design Ltd and many
more who are offering such types of services. Therefore, entrepreneur has to undertake this while
making plan to launch new venture, and make effective strategies to compete with them and
attracts huge audiences (Burns, 2017). Internet solutions has strength that they provide web
services at reasonable costs and also some free facilities to people which competitors are
charging higher price at same services.
Target Market: For web designing or development companies, every business entities are
targeted because every person needs digital services in their personal and professional lives.
Therefore, ''Internet solution'' has targeted its market and audiences by considering anyone from
individual, professionals, businesses such as small and medium sizes as well as large corporates.
P2 Requirement of tangible and intangible resources for a new venture
To start a new venture, there are required various resources for the purpose of running
business operations in effectively and efficiently. For the ''Internet solution'', major resources
must be considered in an appropriate manner for achieving set goals or targets (Caselli, 2018). It
belongs to a web designing and development industry where deals in providing huge services
related to internet marketing and web applications. Therefore, these must be undertake for
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making effective decisions regarding business. This firm is one of the famous company in small
start ups in the UK so it will be easy to attracts more customers or clients towards organisation.
''Internet solution'' is focusing on providing better quality of services at reasonable costs so that
customers can be satisfied in an appropriate manner. For creating or establishing any business
firm, sufficient resources must be required so that company can maintain and manage its
operations and attains set goals or targets in efficient manner.
''Internet solution'' can undertake various available resources to start the new venture as
these will support in creating best solutions as well as services for satisfied customers desired
needs or expectation. In this included two types of resources such as tangible and intangible that
must be considered in ''Internet solution'' for making effective websites and web designing.
These are given below;
Tangible resources: In this includes those elements that can be seen or touched in very
effective way. It generally concern with those resources that are needed for every business firm
such as physically plants, capital, equipments, tools and raw material that helps in producing
effective goods or services. In this also consider one of major aspect which is in monetary form
such as financial equipment that must be needed for running an organisation. For ''Internet
solution'', it is requires various tangible resources such as Computers and its parts, various
systems, servers such as dedicated as well as virtual servers, networks and optical fibres and
many more (Negri, 2018). So that company can run in an effective manner and achieve its
predetermined goals or objectives.
Intangible resources: In this defined those resources that cannot be touched but can be
feel. Intangible resources also play vital role in developing the business and create better
positions in the market because in this included patents, goodwill or brand images, trademarks,
customers relationship, copyrights, corporates culture etc. In the ''Internet solution'' IP addresses,
software applications, network services, information technologies and many more which are
intangible resources or assets for this firm (Fernhaber, 2013). These resources play an important
role that helps in recognise particular brand, reputations, defines several functions, employees
attributes etc. ''Internet solution'' is providing various services and solutions to their clients for
satisfy their needs or wants in an appropriate manner so that they will stay loyal towards
organisation.
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Human resources management: For starting a new venture, there is require proper
manpower and employment so that every tasks can be achieved in an appropriate manner.
Individuals are required for providing services and websites to clients in the ''Internet solution''.
Financial resources: This is back bone of every firm as without this facilities, company
cannot run its operations so that proper funding and financial services required to operate
business enterprise in an appropriate manner.
Hence, it can be analysed that ''Internet solution'' firm required above these resources to
maintain and manage business operations so that goals or targets can be achieved. They focus on
small, medium and large companies for providing their products or services in impressive ways.
There should be needed a proper plan and implementation by designing business layout to attain
set objectives.
TASK 2
P3 Produce a credible proposal for launching a new venture
In this defined that for every successful business, plan play a crucial role for developing
such enterprise because it create a proper structure as well as blueprint of the organisation and
schedule entire process in appropriate manner for the purpose of achieving goals or outcomes.
Plan is very important so that it should be made in an effective way to grab opportunities for
getting success (Li, 2012). Entrepreneur prepare and produce a proposal that consider company's
missions, visions and objective which is going to meet in define time period. In this mention
organisational products or services with unique or additional features, time and costs for
preparing effective plan and proposal. For ''Internet solution'', they also required an adequate
plan for the purpose of meeting desired business outcomes, so it can be get by undertaking a
business proposal plan such as;
Executive Summary: 'Internet solution'' is professional wed design, internet marketing and web
applications development company and it is new venture which provide web services such as e-
commerce solutions, CMS and SEO to the customers. The main objective and aim of launching
a new venture in other market is to capture large market share and accomplish strong prefernces
at global level.
Description of company: An entrepreneur is going to start new web designing company that is
''Internet solution'' as it provide several web services to the clients including websites, joomla,
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dropal and wordpress. It is situated at London UK. It has operated in the area of 25000 square
feet near big ban which is good place for running business. There are wide scope for this firm.
Market analysis: Entrepreneur is thinking to operate the business in effective manner so that
various services across the country (Hmieleski, 2012). For expanding the business, it must be
required to analyse market trends and situations through better study so that appropriate
strategies can be made by considering SWOT and PESTEL in an effective manner. This will
support in achieving competitive advantages. In order to analysis market, primary research is
more suitable and essential because it give accurate information about the market. For thus,
questionnaire introduces as a best tool which will support an organisation to ask different
questions to the customers about its needs and wants towards their product or services.
Market strategy: There are various opportunities for the ''Internet solution'' to cover the market at
wide range therefore it is necessary to establish effective firms among competitors. Company can
undertakes several marketing strategies and ideas to promote products or services in the market
so that goals or objectives can be achieved in an appropriate manner. ''Internet solution'' also
focusing on adopting various tools and techniques such as social media, public relations, print
media and internet for providing informations to target audiences.
Financial projection: It is very necessary to consider these aspects for running organisation
because it play vital role in achieving potential growth and sustainability for every business firm.
Therefore, ''Internet solution'' also considered enough financial resources to manage and maintain
the operations because funds are needed to run an organisation. Plan must be prepared by
considering capital and funds for operating business. But before this, availability of capital
should be kept up via raising from partner's capital as well as banks also. In establishment of
''Internet solution'', approx 33,00,000 dollar which is huge in figures.
Benchmarking: In this defined fundamental as well as future performance which has set by the
owner of business. It is an essential for performing every tasks because in this indicate that
employees are performing according to standard of an organisation. So that it is very helpful for
''Internet solution'' to analyse any comparison of industry. In the context with ''Internet solution'',
determining purpose and objectives of an organisation along with forthcoming actions directs
team mates to increase their contribution via accomplishment within limited time period.
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P4 Assess skills and abilities which required to launch a new venture
For every business firm, specific skills and capabilities are needed so that better business
can be created or established (Cole, 2012). These are essential for achieving success in the future
because it is necessary to have good qualities and abilities for taking risks or facing any kinds of
challenges in an effective manner. Entrepreneurs required various skills to tackle business in
critical situations, problem solvers, decision makers, resolving issues so that company can
achieve predetermine goals or objectives in an effective manner. Some skills or qualities are
defined here that support to ''Internet solution'' firm for achieving growth such as:
Manage entire project: This is compulsory as entrepreneur should have ability to manage
the project for introducing new venture. They consider the plan and its executions by performing
every functions or activities in better ways. There are various forms or size defined in the
different types of business enterprises. Therefore, ''Internet solution'' also required to undertake
project management ability for getting success.
Leadership skills: This is an another important skill that is needed for directing and
leading firm as in this, entrepreneur adopt leadership styles for running business and its
operations. In the ''Internet solution'', entrepreneur should have proper knowledge and leadership
quality for enhancing employees behaviours and guide them towards organisational gaols and
targets.
Problem solvers: It is necessary to individual as he or she must be able to solve defining
problems or issues in an effective manner so that they can provide effective services to the
clients (Baron, 2012). They have required to understand customers problems and find
appropriate solutions to resolve them.
Proper presentation: For proper planning and its implementation, it is necessary to
prepare proposal and schedule activities so that they can present effectively on the front of
clients as well as in the market. There is also requires to make attractive proposal of particular
products or services in very impressive manner. With the help of proper presentation, ''Internet
solution'' can establish effective web designing company among competitors.
Visionary and optimistic: This is also an important quality which individuals must have
that he or she should be visionary and focused towards organisational success so that
predetermined goals or objectives can be achieved in an effective manner (Kariv, 2013). It will
support in facing any of challenges and critical situations for accomplishing targets, ''Internet
7

solution'' also consider this factors for developing business and create several new software
applications or web designings to satisfy customers needs or wants as well as meet their desired
outcomes.
Therefore, they required several skills, knowledge, abilities and capabilities to handle
business in any circumstances and attains set targets in ''Internet solution'' company.
TASK 3
P5 Different promotional activities and channels that support the launch and justify choice
Business always consider the marketing tools for its promotions and development in the
market. Every organisation make strategies and formulate plans by undertaking its elements so
that better ways or solutions can be found to promote the business among competitors.
Promotion is an important part in marketing mix tools as it is an essential to increase sales
volume and promote products or services in the market. This element support in providing
informations to the targeted audiences for creating awareness so that small businesses can
consider this for development. Here are some promotional channels and practices undertaken by
''Internet solution'' such as;
Utilisations of social media to promote business: It is a new or modern method which is
very famous in present time as it is an essential for developing firm in the competitive
environment. There are number of companies who are focusing on adopting several methods ion
social media or applications such as YouTube, Twitter, LinkedIn, Emails, Facebook and
Instagram as well as websites so that company can create more awareness among customers and
attracts them towards getting services (Klotz, 2014). Therefore, ''Internet solution'' also use
modern technologies for providing online services across the country.
Blogs and Articles: This is also very effective and modern technique which support to
firm in increasing fame and brand image among various competitors. It also support in creating
market awareness by blogging of particular products and services in appropriate manner. There
are several organisation who take support of blogs and articles for describing regarding their
products or services and it must be written in well manner which will support in advertising
particular projects and create valuable customers in an appropriate manner. This is also
considered by ''Internet solution'' for promoting their business.
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Mobile Billboards: In today's businesses, various people are focusing on adopting this
method for promoting business in an appropriate manner as it is a best method or technique for
advertisement because in this consider some channels or modes to provide information to the
targeted audiences as they can easily access or get information regarding business (Kuratko,
2017). ''Internet solution'' use mobile billboards for its Stickers, logo and punch lines of web
designing.
Personal promotion of products or services: It is an effective method for providing
information by considering personal and public relations so that sales volume can be increased.
In the ''Internet solution'', they also focus on using tools or techniques regarding promotions of
business as direct and indirect (Read, 2016). Therefore, they are promoting new venture with the
help effective communication tools which support in interaction with social people, group
meetings, emails, discussions and social media conversation for maintaining business.
P6 Develop promotional activities plan for both launch and pre-launch
At present time, it can be seen that there are several business organisations who focusing
on adopting best promotional tools or techniques so that they can reach at potentials customers
and make them aware regarding particular products or services. ''Internet solution'' can reach at
targeted audiences by making an appropriate plans, promotional activities and strategies in the
business enterprises. In this, company make plan regarding pre-launch and launch a new venture
to attains set targets.
Pre-launch Promotions: It is beneficial for launching business as in this company form a
page of pre-launch or any websites for introducing new enterprise by using tools, techniques and
channels so that products and services can be promoted (Hornsby, 2017). It is the plan which
must be made in very effective manner before starting a new business as person consider several
methods like mobile billboards, email strategies, blogs or articles, advertisements etc. to promote
products as well as services. Therefore, “Internet Solution” has to require punch line which is
“Design your own Website” and use unique logo for pre-launching the business.
Launch promotions: In this defined the activities or technique to recall individual
regarding company's services by attracting them in an effective manner. It can be possible
through updating social media, posts or various activities that helps in achieving goals or
objectives. Sufficient and effective tools should be used for launching the business as “Internet
Solution” can adopt several tools such as advertisements, blogging as well as social media to
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create awareness. It is necessary to consider promotional tools or techniques for launching a new
business. This will support in creating awareness among customers so that they will be ready to
take these advantages and get goods or services in an appropriate manner. Owner can use
internet source for promoting their services which help in creating online customers and
increasing sales volume in well manner. They can undertake social platforms, online banners,
advertisements, web sites, print media at local level and many more for the purpose of generating
demands.
TASK 4
P7 Produce a cash budget for new venture
There should be formulated proper budget to launch a new firm, therefore, effective
planning must be required so that company can achieve predetermined goals or objectives in an
appropriate manner (Read2016). Here are described cash budget of Internet Solutions such as;
Pre launch cash
budget
Cash Flow
budget
Particulars Jan Feb Mar Apr
Ma
y June July
Augu
st
Septe
mber
Octobe
r
Novem
ber
Decem
ber
Cash inflows
Investment 8000
Credit sales 2000
300
0
300
0
450
0
150
0
350
0
420
0 1000 2000 800 1200 1500
Total inflows
1000
0
300
0
300
0
450
0
150
0
350
0 4200 1000 2000 800 1200 1500
Cash outflows
Fixed :
Equipment’s 2000
250
0
150
0
200
0
120
0
150
0 800 200 300 100 600 300
Variable : Direct
material 300 300 200 300 150 500 300 400 500 100 100 400
Total outflows 2300
280
0
170
0
230
0
135
0
200
0
110
0 600 800 200 700 700
Net cash flow 7700 200
130
0
220
0 150
150
0
310
0 400 1200 600 500 800
Opening balance 0
770
0
790
0
920
0
114
00
115
00 ####
1610
0
1650
0
1770
0 18300 18800
closing balance 7700
790
0
920
0
114
00
115
50
130
00
##
##
1650
0
1770
0
1830
0 18800 19600
Post launch cash
budget
Particulars Jan Feb Mar Apr
Ma
y June July
Augu
st
Septe
mber
Octobe
r
Novem
ber
Decem
ber
Cash inflows
10

Investment 8000
Credit sales 1200
200
0
750
0
300
0
500
0
650
0
120
0 3200 1500 8200 1250 3210
Total inflows 9200
200
0
750
0
300
0
500
0
650
0
120
0
320
0 1500 8200 1250 3210
Cash outflows
Fixed :
Equipment’s 2500
120
0
150
0
250
0
110
0
150
0 1200 600 500 500 1200 700
Variable : Direct
material 350 300 250 150 100 500 500 250 450 250 1300 500
Total outflows 2850
150
0
175
0
265
0
120
0
200
0
170
0 850 950 750 2500 1200
Net cash flow 6350 500
575
0 350
380
0
450
0
-
500
235
0 550 7450 -1250 2010
Opening balance 0
635
0
585
0
116
00
119
50
157
50 ####
1975
0
2210
0
2265
0 30100 28850
closing balance 6350
585
0
116
00
119
50
157
50
202
50
##
##
2210
0
2265
0
3010
0 28850 30860
Interpretation: The above mentions table, it has been concluded post cash flow budget
where entire expenses are linked with fixed assets, current assets and investment. It will support
to prepare the yearly account at the end of financial year. Therefore, closing balance in december
is 30860.
P8 Suggest an appropriate legal form for the venture
There are several various legal structure that formulated by the government as in this
determine the appropriate structure for launching new business in an effective manner (Morris,
2015). UK government defined some legal entities and it is necessary to follow all these by every
business organisation. It can be understood by considering legal forms of venture such as;
Sole Proprietorship: In this defined that individual starts his own venture by brining new
ideas or thoughts and take responsibility to manage as well as maintain the business operations
by himself. It is very effective and simple process for starting a new venture as there requires less
amount to invest funds in the firm. The negative point of this legal form is that individual is
liable to bear risks or uncertainties.
Partnership firms: This is also an effective and appropriate form in which two or more
individuals come for launching a new business with bringing their own assets, resources and
capital funds for operating business (Robb and Watson, 2012). The major drawback of
partnership form is that every person is liable to take risks or bear losses while running business.
Company: In this legal form, every functions are owned by government as well as shares
businesses are hold by publicly so that it has been categories into two types such as public and
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private limited. In such kinds of businesses, shares generally operates by the government and
private owner depends on business nature for getting more benefits or incomes. There are two
type of organisations are covered under this which are known as public and private. Public
organisations are such upon which government of country has control. On the other hand, private
organisations are such which are managed by individual. These organisations are classified into
two types such as limited by shares and guarantee.
Therefore, ''Internet solution'' company is belong to sole proprietorship as its legal
structure is solo and business are operated by an entrepreneur (Simon and Shrader, 2012). It
should be assessed from the fact that upon the working of such organisation sole person has total
control over all operations of organisation. Owner of organisation has unlimited liability and bear
all the losses and profit solely.
CONCLUSION
From the above report, it has been summarised that new ventures is very beneficial in
increasing the country's economy. These are responsible to increase competition in the market
during changing environment. Some resources are required for launching new business such as
tangible and intangible. This report explained several skills, abilities and capabilities to generate
profits. It also considered several elements as promotional tools, cash budget and legal structure
in such project to introduce new business.
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REFRENCES
Books and Journals
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of positive affect, creativity, and environmental dynamism. Journal of Business
Venturing. 26(1). pp.49-60.
Bijker, W. E. and et. al., 2012. The social construction of technological systems: New directions
in the sociology and history of technology. MIT press.
Burns, P., 2017. New venture creation: a framework for entrepreneurial start-ups. Palgrave.
Caselli, S. and Negri, G., 2018. Private equity and venture capital in Europe: markets,
techniques, and deals. Academic Press.
Fernhaber, S. A. and Li, D., 2013. International exposure through network relationships:
Implications for new venture internationalization. Journal of Business Venturing. 28(2).
pp.316-334.
Hmieleski, K. M., Cole, M. S. and Baron, R.A., 2012. Shared authentic leadership and new
venture performance. Journal of Management. 38(5). pp.1476-1499.
Kariv, D., 2013. Female entrepreneurship and the new venture creation: An international
overview. Routledge.
Klotz, A.C. and et. al., 2014. New venture teams: A review of the literature and roadmap for
future research. Journal of Management. 40(1). pp.226-255.
Kuratko, D. F. and Hornsby, J. S., 2017. New Venture Management: The Entrepreneur's
Roadmap. Taylor & Francis.
Morris, M. H., 2015. Entrepreneurship as experience. John Wiley & Sons, Ltd.
Read, S. and et. al., 2016. Effectual entrepreneurship. Taylor & Francis.
Robb, A. M. and Watson, J., 2012. Gender differences in firm performance: Evidence from new
ventures in the United States. Journal of Business Venturing. 27(5). pp.544-558.
Simon, M. and Shrader, R. C., 2012. Entrepreneurial actions and optimistic overconfidence: The
role of motivated reasoning in new product introductions. Journal of Business
Venturing. 27(3). pp.291-309.
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