Seeking God (in the details)

Abstract

Entrepreneurs tend to be self-styled “idea” people. They often believe they have the next “Big Concept”‐one which could change the world, reaffirm their self-worth, and, of course, make them and their venture team a fortune. In contrast, as they build a company to implement their business dream, entrepreneurs also tend to eschew or trivialize administrative details. Why should they waste their creative juices on minutia? As a result of this insensitivity to detail, these captains of capitalism often trip in their entrepreneurial journey. For example, they might:

1. •

   Forget to remit payroll taxes on schedule.

2. •

   Fail to document the justification underpinning the dismissal of a key employee.

3. •

   Allow the company℉s liability insurance to lapse.

4. •

   Neglect to report sales usage tax.

5. •

   Verbally grant employee incentive stock options during an informal luncheon meeting, at a yet-to-be-determined exercise price and without the board of directors℉ approval.

Citation

Levangie, J.E. (2004), "Seeking God (in the details)", New England Journal of Entrepreneurship, Vol. 7 No. 1, pp. 49-51. https://doi.org/10.1108/NEJE-07-01-2004-B006