Week 3: Reading Reflection

Week 3: Reading Reflection

1.   One part that I read that  stood out to me the most was the author’s take on how to deal with failure and going through the grieving stage.  To be honest if I ran a business and it failed I think the stress and the feeling of failure would destroy me emotionally and mentally.  Kuratko insures us that failure is inevitable, if it happens it happens.  If it does, it is vital that entrepreneurs do not focus completely on the negatives.  This will be a distraction and can lead to physiological problems.  Instead it’s best to reflect.  Look back and figure out what caused the failure to occur and focus on formulating a new plan for the future.  

2.   I didn’t really understand why Kuratko would identify some problems an entrepreneur will face but doesn’t address how to deal with them.  For instance, when he talks about the financial risk of opening/owning a business he doesn’t go into how to figure out ways for people to find financial help or guidance. 

 3.  Is there a way to predict (based on the economy) when is the best time to open a business?

If you were to open a medical clinic does the “family and social risk” still apply if your family members were qualified doctors or professionals?

4.  There was only one part that I didn’t agree with but understood where he was coming from.  Under “Source Of Stress” he discusses four factors and one of which dealt with “Loneliness”.  I believe that Kuratko was thinking through the mind of an extroverts therefor these factors only applied to one personality type or population. 

 From an introvert’s perspective I did not agree with him.  I can get really overwhelmed from too much interaction and having no escape.  For myself after work I really do not seek “the comfort and counsel of friends and family members” (pg. 44), instead I need to escape and relax.  Have time alone to reflect and calm my mind.  For an introvert escaping is our form of recharging.