entrepreneurial venture:

… an enterprise development undertaking as an entrepreneurial startup which typically means that a business decision maker motivated by the possibility of financial gain takes an initiative to create a functional entity and get its operations going—the point of initiating activities for getting underway (source of quote). Venture means means that risk is involved. Savvy entrepreneurs take calculated risks while having to convience stakholders, such as investors, venture capitalists, and lenders, that the enterprise will pay off.

Having a business plan to present to would be stakeholders is essential. Any enterprise development project that gains approval of savvy stakeholders will clearly be in line with the business plan. Owners of ventures quickly become risk managers by necessity.

Although entrepreneurial ventures are described as entities of the business world, enterprising operations are essentially defined in the same way. The venture process is always one of uncertain outcome. For example, representatives of locations seeking economic development do their jobs by working within networks of stakeholders. Those who get things done work with entrepreneurs and must be risk takers themselves in handling the politics of economic development, stratteling the fence between the wants and needs of community and those of prospects. Their networks of stakeholders are predominately motivated by the potential gains from enterprise and economic development.

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