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Business Briefing: The Questions Every Entrepreneur Must Answer

Picture of Jim Krider By   ·  2 minute read

Keywords: Entrepreneurship, Startup Strategy, Business Goals, Strategy Execution, Entrepreneurial Management
Source: Harvard Business Review
Link: Read the full article on HBR.org
Author: Amar Bhidé
Published: November 1996
Est. Read Time (Original): ~60 minutes

A Note on Access: To read the full article, a Harvard Business Review subscription is required. We believe an HBR subscription is an invaluable asset. We particularly recommend utilizing the downloadable PDF version of their articles—they are a fantastic, high-value resource for sharing and discussion within your team.

The Core Idea

Amar Bhidé provides a powerful, hierarchical framework to help entrepreneurs navigate the chaotic and often contradictory challenges of building a business. He argues that founders must move beyond a purely tactical, opportunistic mindset by repeatedly asking three fundamental questions in a specific order: 

  1. Where do I want to go? (Clarifying personal and business goals), 
  2. How will I get there? (Formulating a sound and sustainable strategy),
  3. Can I do it? (Candidly assessing the resources, organization, and personal capacity to execute).

 

This structured inquiry forces entrepreneurs to confront the big-picture issues before getting lost in the weeds, providing a rational guide for setting priorities and making critical decisions.

Why It Matters for Business Today

In an ecosystem that often glorifies "hustle" and rapid, improvised growth, Bhidé's framework is a crucial anchor for building a durable, intentional business.

  • Goals First, Strategy Second: The framework's most powerful insight is its hierarchy. It forces entrepreneurs to first be brutally honest about their personal goals—whether they want a lifestyle business, a quick flip, or a lasting institution—before they even begin to evaluate strategy. This alignment of personal and business ambition is the bedrock of sustainable entrepreneurship.

  • A Filter for "Good Ideas": Young companies are flooded with opportunities and advice. The three questions act as a powerful filter. A tactically brilliant idea is useless if it doesn't align with the founder's goals (Question 1), fit the company's strategy (Question 2), or is impossible to execute with current capabilities (Question 3).

  • An Evolving Framework for Growth: This is not a one-time business plan checklist. The article stresses that entrepreneurs must continually revisit these questions as the business evolves. A strategy that works for a 10-person startup will not work for a 100-person company, and the founder's role must evolve from "doing" to "leading" to prevent them from becoming the primary bottleneck.

The Strategic Question for Leaders

The article argues that a founder's role must evolve from doing the work, to teaching, to prescribing results, and finally to managing the overall context.

How do you, as a leader of a growing enterprise, periodically audit your own role to ensure you are continually experimenting with new responsibilities and acquiring new skills, rather than simply working longer hours on the same tasks?

Share your perspective in the comments below.

Remember, by sharing your insights, you contribute to a unique "Enriched Briefing." {Jim Krider} will follow up to provide you with a powerful "Business Cold Start" document, combining our analysis with expert perspectives to equip your internal AI models with a more nuanced understanding of this topic.