Week 13 Reading Reflection

1) One part of the reading that I found impactful was on page 484.  Here the author arranged a list of what entrepreneurs should ask themselves when starting a business.
2) There really wasn't much that was confusing.  If anything I had to reread over the differences between a manager and entrepreneur's mind-set.
3) Would you say that having a combination of managerial and entrepreneurial mind-sets would be beneficial? Did you write this chapter based on your experiences or did you have to collaborate with others?
4) The description of a small business I feel no longer really applies as it used to.  Now a days a "small business" can have a far reach to customers outside their main location with the help of the internet, social media, and postal services.

Celebrating Failure

•  List of my Failures  

• Interviewing customers was the worst! I would write my questions down on a note card, practice, and fail miserably.  People do not want to be interviewed!  I have been turned down for interviews so many times, it's a real confidence killer. This was the worst part of the course going out and interviewing people, entrepreneurs, and people in the industry.  It is so difficult! 

• What I learned

• Get it over with, do not wait!  If you stop in the middle of getting interviews the more you dwell on it and your nerves/ anxiety will grow.  I found that it's best, walk around, and look for groups of people.  Usually when they are in groups they're more open and you'll get the number of interviews you need faster.

• How I handle Failure 

• Even with all the failure I have gone through, I'm not the best at recovering from it.  But I will say persistence is key and do not let the negative thoughts take over.  The moment you start thinking "This is pointless", "Is the world against me", "I'm giving up" is the moment of no return.  
• When I read my assignments for the week I get the interviews done on the same day I open the assignment.  This way you don't think about it for days, just get it over with! 
• Just think of it as one minute of your life, it's just one minute!  Plus these people are students who have classes just like you, they understand this!  They know your not just doing this to bother them, it's for a grade.  If they don't want to be interviewed then move on to the next person. 
• This class really hasn't changed my perspective on failure.  I will take risk, but with caution and making sure I'm prepared in advance. 

My Exit Strategy

1.  I think I would sell my idea, I don't have a strong connection to this industry and it's become more of a hassle or a chore.  I don't look forward to working on this product at all.  I would probably sell my product idea to Publix or a grocery store that has fresh ingredients that they prepare for consumers.

2.  I want out!  I have done everything I can and every-time I revisit my product I am exhausted and uninspired.  I think I have more of the "idea maker" or "inventor" mindset.  I like moving on to future  projects.

3.  I haven't really thought about my exit strategy before this. It hasn't really influenced me on my decisions. I guess if anything it has pushed me to come up with a product that doesn't need much improvements.