Case 3Harrys Problems (12 marks)

Harry has always been a very credible and hard working person. For the past ten years, Harry has been working in a large auto service garage in Suva. During this time he has made a number of suggestions to the owner concerning new services that could be offered to customers. One of these is called the fast lube. With this service, individuals who desire to have their oil changed and their vehicle lubricated do not have to leave the automobile and return back later in the day. Three service racks handle this job. It generally takes less than 15 minutes to take care of a car, and most people can have the job completed within 25 minutes of the time they arrive. The service has become enormously popular with customers and has contributed to an overall rise in profits of 10 percent in 2019.

Irene, the wife of Harry contends that he has a large number of ideas that could prove profitable. You ought to break away and open your own shop, she has told him. Harry would like to do so, but there are four things he thinks help account for entrepreneurial success and he has none of them. Here is how he elucidated it to his wife.

To be a successful entrepreneur, you have to be a thinker, not a doer. Im a doer. Thinking bores me. I wouldnt like being an entrepreneur. Second, those guys who do best as entrepreneurs tend to be inventors. Im not an inventor. If anything, I think of new approaches to old ways of doing business. Im more of a tinkerer than an inventor. Third, youve got to be lucky to be a successful entrepreneur. Im hard working; Im not lucky. Fourth, you have to have a lot of money to do well as an entrepreneur. I dont have much money. I doubt whether $100, 000 would enable me to start as an entrepreneur.

Based on the above case, answer the following question:

(a) What is the problem with Harrys overall thinking? Ensure to include a discussion of the myths of an entrepreneurship in your answer.