Question: Part III. Reflecting on the Data (Approximate time needed to complete: 45 minutes) 30 points 1. What have you concluded at this point about entrepreneurship

Part III. Reflecting on the Data (Approximate time needed to complete: 45 minutes) 30 points

1. What have you concluded at this point about entrepreneurship and you?

2. How do the requirements of entrepreneurship especially the sacrifices, total immersion, heavy workload, and long-term commitment fit with your own aims, values, and motivations?

3. What specific conflicts do you anticipate between your aims and values and the demands of entrepreneurship?

4. How would you compare your entrepreneurial mind, your fit with entrepreneurial role demands, your management competencies, and so forth, with those of other people you know who have pursued or are pursuing an entrepreneurial career?

5 Thinking ahead five to ten years, and assume that you would want to launch or acquire a venture, what experience, skills and knowledge do you need to acquire?

Part IV. The Plan (Approximate time needed to complete: 60 minutes) 30 points

1. Rank the SMART goals you have identified in Part II above according to priority.

2. Focus on these SMART goals and make a list of obstacles that could prevent you from accomplishing these.

3. Discuss the tasks or action steps required to attain your three SMART goals. Given your timeline list challenges and resources needed to reach your goals. Be specific and use Business Metrics where applicable. Some examples of metrics (if you find them applicable) are Yearly or Monthly numbers such as Anticipated Startup costs, Monthly Expenses for you and the team, Unit Sales (per unit and units per Month), Gross Revenue, Profit and Loss, Funding Amount of debt and payback plan, Number and Role of Employees. Timelines are also a good planning tool.

4. Discuss strategies to eliminate the obstacles identified in step 2 above.

5. Establish dates and durations for each action or task that you have listed for each goal.

6. Identify other people in your life or other resources in general that you could utilize to help you attain your goal.

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related General Management Questions!