An entrepreneur has to identify what their vision is, and what need they're going to fulfill.

Question: What would tell an entrepreneur about to launch a business?Sheena Iyengar: I think an entrepreneur has to identify what their vision is, what their product is, what need it's going to fulfill and how they're going to design their organization so that it actually accomplishes the goal of fulfilling their vision which should be a mix of what it is that they're going to be offering the marketplace.  What need is it that they're going to fulfill?  So it has to be essentially a connection between the structure of the organization and the strategy of that organization.Question: Where should an entrepreneur get advice?Sheena Iyengar: Usually entrepreneurs a lot of them actually take MBA, learn from an MBA program like our MBA programs often give entrepreneurs quite a bit of training on how to get a business started.  For example, at the Columbia Business School we actually have a program where some set of students based on a very competitive competition will get seed money to start a business and get you know faculty advice while they're starting that business. It's a really great way to get some initial feedback as well as some additional financial help with starting an idea.  There is also once people are in the business world and not at school is lots of different organizations that help entrepreneurs out.  There is lots of different conferences that you know help give them information.Question: What do you believe are the characteristics of a successful entrepreneur?Sheena Iyengar:  I think you would have successful entrepreneurs that will come in all shapes, sizes, colors and I think the most important criteria for a successful entrepreneur is they have to have the right product that fulfills a need which everybody recognizes that that is a need.  Essentially if people don't recognize that they need it they're not going to buy it and if they have that and they have an organization that allows that to have happen, a sort of infrastructure they've created that enables that to happen they will be successful.

Question: What would tell an entrepreneur about to launch a business?Sheena Iyengar: I think an entrepreneur has to identify what their vision is, what their product is, what need it's going to fulfill and how they're going to design their organization so that it actually accomplishes the goal of fulfilling their vision which should be a mix of what it is that they're going to be offering the marketplace.  What need is it that they're going to fulfill?  So it has to be essentially a connection between the structure of the organization and the strategy of that organization.Question: Where should an entrepreneur get advice?Sheena Iyengar: Usually entrepreneurs a lot of them actually take MBA, learn from an MBA program like our MBA programs often give entrepreneurs quite a bit of training on how to get a business started.  For example, at the Columbia Business School we actually have a program where some set of students based on a very competitive competition will get seed money to start a business and get you know faculty advice while they're starting that business. It's a really great way to get some initial feedback as well as some additional financial help with starting an idea.  There is also once people are in the business world and not at school is lots of different organizations that help entrepreneurs out.  There is lots of different conferences that you know help give them information.Question: What do you believe are the characteristics of a successful entrepreneur?Sheena Iyengar:  I think you would have successful entrepreneurs that will come in all shapes, sizes, colors and I think the most important criteria for a successful entrepreneur is they have to have the right product that fulfills a need which everybody recognizes that that is a need.  Essentially if people don't recognize that they need it they're not going to buy it and if they have that and they have an organization that allows that to have happen, a sort of infrastructure they've created that enables that to happen they will be successful.