Mmi Reflection

Weekly Reflections: Entrepreneurship

Robert Bolding, Ryan Booth, Christopher Dahl, Ashleigh Warren

University of Phoenix

MGT 521

September 07, 2011

Diana Johnson

Weekly Reflections: Entrepreneurship

Introduction

Lessons Learned

Ryan and Aaron showed that it is never too early to be an entrepreneur. Financially, the best time to engage in entrepreneur activities is when you are young and have little financial responsibilities. Ryan and Aaron were right out of college and had little financial commitments; they were able to take the risk of starting a business. Ryan and Aaron saw a demand and decided to supply it. Financially, they examined the costs of starting the business and determined they were able to make a profit with their product. They did not make a huge profit the first second year but overtime were able to be quite successful. They took advantage of their skill set and the freedoms they have in America and made themselves a success.

Who are the iConnect stakeholders, are their needs balanced

What is most impressive, does the scenario inspire

One of the most impressive observations from this entrepreneurial tail is the capability of these two college students. One quickly perceives that Ryan and Aaron are not your typical business students. Instead, they are insightful, tenacious, and exhibit sound business principles. Although the scenario lacks some detail, one must conclude the two performed the necessary industry research and risk analysis. From this, they identified a target market and developed a sound business with a minimal investment of $12,000. During the first years of the growing business, the two exhibited the discipline to re-invest their profits back into iConnect.

The story of these two individuals is both inspirational and thought provoking. Ryan and Aaron combined their respective skills and abilities to succeed. They recognized there was an existing business need that they decided to fulfill. It would be...