Which of the following are key advantages of learning-by-thinking methods in entrepreneurship? Select all that apply.

Learning‑by‑thinking methods let entrepreneurs mentally simulate a business idea, which speeds up learning because they can test many scenarios quickly and without spending money. This mental rehearsal reduces costly mistakes and helps them spot risks early. It also deepens understanding because the entrepreneur must explain every step to themselves, forcing clearer reasoning. The process sharpens decision‑making skills and boosts creative confidence. For example, a startup founder might mentally run through a new product launch, noting supply‑chain bottlenecks and pricing hurdles before writing a business plan.