Monitoring in entrepreneurship involves consistently tracking various aspects of your business to ensure that everything is functioning as expected. This includes financials, market trends, employee performance, customer satisfaction, and competitor activities. Effective monitoring helps in identifying issues early, allowing for timely interventions. Common tools used for monitoring include Key Performance Indicators (KPIs), Customer Relationship Management (CRM) systems, and financial dashboards. These tools provide real-time data, making it easier to keep a pulse on the business.