ng business that might employ 10 to 100 people are the kind of dreamers who make it" and that "The intensity of the vision is important" (Witt, n.d.). He identifies five characteristics of successful entrepreneurs-vision, intuition, ability to secure financing and business partners, willingness to change short-term goals, and the flexibility to be experimental-but emphasizes that "Vision is crucial. Without it, most entrepreneurs fail" (Witt, n.d.). Baum notes that the University of Maryland's entrepreneur classes have had 500 students to date, and many brought ideas for a new business with them but "ended up with a totally new idea" (Witt, n.d.). He advises students to start with their complaints-"about poor service, things that break, or software that they need" (Witt, n.d.). Since "many new products are formed out of dissatisfaction," this exercise generates new entrepreneurial ideas (Witt, n.d.).
Merely getting a great idea is not enough to ensure success, however. Winning entrepreneurs know how to effectively translate their idea into action. Amar Bhide (1994, p. 226) advises that entrepreneurs "screen opportunities quickly to weed out unpromising ventures" and "analyze ideas parsimoniously. Focus on a few important issues." In other words, he advises haste in bringing the idea to fruition. Bhide (1994, p. 226) urges, "Integrate action and analysis. Don't wait for all the answers, and be ready to change course." Dreamers may be the best at developing a successful entrepreneurial idea, but they cannot simply dream about their idea; once they have it, they need to act upon it quickly. As Bhide (1994, p. 226) points out, "by the time an opportunity is investigated fully, it may no longer exist. A city map and restaurant guide on a CD may be a winner in January but worthless if delayed until December." On the other hand, he notes, "External changes can provide great leverage for creative and nimble entrepreneurs,...