MANY people believe that (1) entrepreneurs are born with the personality characteristics that make them successful, (2) you have to be a “natural” to succeed at entrepreneurship, and (3) entrepreneurship is a skill that can’t be taught. As our debunked myth makes clear, entrepreneurial skills can be learned. Where can you learn these skills? More and more colleges and universities around the world are offering courses and even majors in entrepreneurship. Beyond higher education, though, entrepreneurial skills can be learned through mentors, books, and videos and even through observing other entrepreneurs (what they’re doing or not doing well). In this chapter, we’re going to take a broad look at what’s involved with managing entrepreneurial ventures. We’ll start with an important overview of the context of entrepreneurship. Because entrepreneurs must make numerous upfront decisions, we’ve included lots of material on this aspect. Then, we move through explaining and describing what entrepreneurs do as they manage—that is, plan, organize, lead, and control—their organizations.