PERSONAL ENTREPRENEURIAL STRATEGY FOR THE FUTURE 6 Essay Example

  • Category:
    Business
  • Document type:
    Essay
  • Level:
    Undergraduate
  • Page:
    2
  • Words:
    828

Title: Personal Entrepreneurial Strategy for the Future

Customer’s Name:

Personal Entrepreneurial strategy for the future

What gives me energy and why

Reading or writing, Web browsing is one of the important activities that have kept me moving till this date. Apart from the experience, I gain from undertaking in these activities, I have been immensely inspired to do the little things that I do every day; writing, painting, collecting badges, rice sculptures and cooking zany food, communication, among reading and web browsing. My ability to perform these activities has been satisfactory and rewarding (Timmons, Gillin, Burshtei & Spinelli, 2010).

What takes away my energy and why

However, I have always been discouraged whenever I try to do some other activities like, but not limited to, making stunts, travelling and exploring physical features, time management, selling zany food, creating websites, purchasing at fair prices, decision making, problem solving. Due to continuous mistakes when carrying out these activities, and later realising of the mistakes I have done, I have always feared to perform them. I would rather tell a friend of the situation and ask for his opinion on how to solve a problem rather than undertaking it alone (Kuratko, 2008, p.453).

Rank of the items

It really does not mean that I cannot perform the activities, but rather I don’t do them to my best, and the big mistakes included. With this, I am sure that I get my most energy in the order of;

  • Web browsing

  • Painting

  • Collecting badges

  • Rice sculptures

  • Cooking zany food

  • Communicating

  • Making stunts

  • Travelling

  • Exploring physical features

  • Time management

  • Selling zany food

  • Creating websites

  • Purchasing at fair prices

  • Decision making

  • Problem solving (De Bruin & Dupuis, 2003, p. 173).

My vision in 20 to 30 years to come

With over twenty years added to my age, I expect to be running a great company involved in the production paints, and offering painting services, incorporating technological internet marketing. Apart from this, I expect to have written a book on how to get the most out of reading which I expect by then, it would have earned me recognition and fame among my friends and readers.

This notwithstanding, I would also wish to be working as a part time employee in any company, so as to continuously increase my experience, view ideas/situations from different positions, which will enhance, my decision making and problem solving ability. Finally, other a family of four members I would love to have charming friends.

On the other side, I still feel the big challenge from this achievement because of the high capital needed for such an investment as compared to my position presently. Further, assembling a team, finding the right location, identifying the market, recruiting the right employees, overcoming competition and unforeseen challenges or costs, in the light of a rapidly changing industry all pose a big milestone to overcome. Also, the business will quest for my input in terms of decision, management and problem solving which would otherwise degenerate my energy (Kourdi, 2009).

Attributes of the 10 business to enter into

  • Credible business that would be successful

  • They were viable businesses,

  • The business was Objectivity on its venture,

  • Unambiguous and otherwise specific language,

  • Reasonable to the capacity available,

  • Introduction of adequate independent corroborating facilities,

  • The business portrayed to have the internal consistency, and

  • Ensured awareness of critical success factors, key risk factors, and critical vulnerabilities

Attributes of the 10 business NOT to enter into

  • The business had a unique selling proposition,

  • The business would offer its goods at affordable prices to the market,

  • The business was Objectivity on its venture,

  • The business will engage in extensive promotion, requiring great sales people,

  • The best location was found for this business to have ready market,

  • Good customer service would be enhancing by the best location and great sales representatives, and

  • Most of these businesses required less capital hence conducive to establish a strong local economy (Timmons, Gillin, Burshtei & Spinelli 2010)

The above attributes that would give energy/take it away

From these two categories of attributes, the first one would give me enough energy to go on and manage such a business.

Conclusion

I would like to acquire a business of my own someday because I have just realised that I have the qualities of running a business. I can strengthen my weaknesses through various ways and even increase my capabilities more. Further, I realised that what I can do better, can be developed into a business.

References

De Bruin, A. & Dupuis, A. (2003). Entrepreneurship: new perspectives in a global age.

London: Ashgate Publishing, Ltd. Pp. 120-189.

Kourdi, J. (2009). Business Strategy: A Guide to Taking Your Business Forward volume 12 of

The Economist Economist. New York: Bloomberg Press.

Kuratko, D. F. (2008). Entrepreneurship: Theory, Process, and Practice. London: Cengage

Learning. pp. 450-544

Timmons, J., Gillin, L., Burshtei S. & Spinelli S. (2010). New Venture Creation:

Entrepreneurship for the 21st Century — A Pacific Rim Perspective. Melbourne,

Australia: MacGraw Hill,