The week’s activities were transformative and informative. They laden with valuable lessons on entrepreneurship including the pitfalls to avoid when establishing a start-up, benefits of networking and how to establish effective and great founding teams through networking. As an aspiring entrepreneur and future corporate leader, the week’s activities highlighted fundamental steps towards becoming a successful corporate leader and entrepreneur. One of the important takeaways from the week’s activities is the need to capitalize on the growing popularity of social media and other online platforms such as Facebook, Twitter, LinkedIn and Instagram to develop and maintain virtual networks while also marketing and pitching my entrepreneurial ideas. I also learned the various legal structures of businesses and their strengths and weaknesses. The activities were well organized in a topical manner with real life examples that facilitated easy learning of the fundamentals of entrepreneurship including the emotional aspects of the process.
This week’s activities has transformed my approach towards becoming a successful entrepreneur and business leader. Prior to undertaking the activities, my perception of the whole concept of entrepreneurship including success factors were rather narrow. I mistrusted the idea of bringing onboard other partners to help in realizing my entrepreneurship dream. However, Neck and Murray (2018) note that forging connections and finding the right cofounders can help in crystalizing your business idea. The authors insightfully hold that networks increases an entrepreneur’s social capital which translates into greater access to useful private information, diverse and important skillsets, and power and influence due to important people within the network and large network size.
The key to unlocking such huge potential of networks especially at the founding of the business is finding the right cofounders. One of the reasons why I was skeptical about cofounding a start-up is the numerous legal battles that have played out in the public arenas between former business cofounders. However, the week’s activities allayed such fears by underscoring the need to select the right individuals to partner with when founding a business. According to Neck and Murray (2018) work ethic, humanity, commitment, resilience, tenacity and curiosity are some of the fundamental attributes to look out for when searching for cofounders. Moreover, the activities equipped me with fundamental knowledge on the legal pitfalls to avoid when cofounding or starting a business. I am now more informed on the importance of signing written contracts and understanding my legal obligations as an entrepreneur and employer.
I enjoyed all the week’s activities. However, I found the activities on networking, marketing and pitching more interesting captivating because they captured issues that are essential beyond entrepreneurship. Concepts such as first impression and effective use of social media and online platforms to network, market and pitch are applicable even within my personal social life. Therefore, the information touched on more than professional growth: it set me on a path to self-determination through effective social interactions.
In conclusion, the week’s activities equipped with vital knowledge and concepts that I will apply in my endeavor to become a successful business leader and entrepreneur. As espoused by the authors and the activities, I will lay more emphasis on developing, growing and managing my networks by attending various events within my locality including entrepreneurial seminars and conferences. I intend on effectively using social media to pitch and market my business ideas as well as develop my social capital base. Additionally, I plan on using the knowledge and skills learned during the activities to avoid the various legal pitfalls and common mistakes made by aspiring entrepreneurs.
Neck, C. & Murray, E. (2018). Entrepreneurship: the practice and mindset. Los Angeles, CA: SAGE.