Reflection About An Entrepreneur

analytical Essay
1110 words
1110 words

We learned a lot of things in this course, but I think the most important lesson I learned is that it’s not easy to be an entrepreneur. I was surprised to hear in the first class that 80% of startups fail, but after reading The Art of Start and E-myth Revisited I understood why this happens more often than one might expects. Some people start their own businesses for the wrong reason and some start with wrong mindset. I’ve always thought that if someone has a brilliant business idea and hardworking they will succeed and grow their business. However, now I know that there are many things to consider before starting any business. In fact, there are many strategies that an entrepreneur could follow to achieve success, such as know your customers, work “on” the business, and how …show more content…

In this essay, the author

  • Explains that 80% of startups fail, but after reading the art of start and e-myth revisited, they understand why this happens more often than one might expect.
  • Explains the importance of focusing on customers in an entrepreneur's graveyard. the idea behind their business is to offer customers who live in a hot area of the world cold treats.
  • Argues that entrepreneurs need to focus on the important things such as spotting problems and solving them, and let employees deal with the simple details of the business.
  • Recalls a famous restaurant in saudi arabia, where the quality of the food dropped and the business failed. if the owner had thought strategically, he would have applied the above rules and become an icon in this field.
  • Opines that the business development program in the e-myth revisited book should be introduced because it talks about what you want to say about your life after it's too late.

Every “true” entrepreneur knows that there will be never enough time or money to make things right when starting a new business. So it’s vital to focus on the most important thing, which is the customer. To understand the importance of knowing customers, imagine an entrepreneur with a flawless and innovative product but doesn’t have enough customers to sustain the business and the opposite is true. For entrepreneurs to be customer-focused they need to understand customers needs rather than focusing on great products or wonderful services. This is what I did on my final project; the idea behind my business is to offer customers who live in a very hot area of the world cold treats but in a different and new way. This point is should be clarified in the “customers” slide in the pitch to show that the owner knows who are the customers and the show why they might be interested in the product or the service the owner is planning to

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