Week 5 Reading Reflection

Hello again,

This week we are going to cover the Chapter 5 Reading Reflection.

What Surprised Me?

Before the reading, I never really realized how the amount of small technical problems that entrepreneurs deal with when starting up a company. For instance, pricing the product, identifying customers, location of store, and determining the right timing for a launch.

What Confused Me?

In the reading, it says the entrepreneur and manager should not start a business if there is a probable chance of negative cash flows, but soon after it discusses ways to deal with negative cash flows. I thought entrepreneurs are supposed to take risks?

Questions for the Author?

1. How much profile analysis can one really do before entering the market? If everyone sat back and waited, then new companies would never get started.

2. Do you think it is good experience to go through a failed start-up? To really understand and learn how everything works.

Disagreements?

I personally do not think forecasting is as accurate as the author makes it out to be. When putting a new product on the market, you never really know how the public is going to respond to it. You can analyze anything but as soon as the product launches a curveball can be thrown in.