"Imagine an entrepreneur who wants to start an Indian restaurant. Using a search and select approach, she would start by doing market research in the restaurant industry in the city of her choice. Based on the market research, she would carefully select a location, segment the market in a meaningful way, select target segments based on estimates of potential return, design a restaurant to appeal to her target segments, raise the required funding, bring her team together, and, finally, implement specific marketing strategies and manage daily operations to make her restaurant a success.

It's the Skills, Not the Venue
If our entrepreneur instead followed a create-and-transform approach, the outcome would depend on who she is, what she knows, and who she knows. For the sake of understanding the process here, let us say she is a good Indian chef considering starting an independent business."