Reflection Paper

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Pages: 6

Reflection Essay
By: Jennifer Lindgens
Class: Sml Busn Mgmt & Entrprnrshp
Director: Sherry Chao-Hrenek

Table of Contents
Introduction…………………………………...............3
Interviewed…………………………………….............3
Some of what I learned…………………………..... 3
Entrepreneurship……………………………………… 3
5 trends of 2013………………………………………… 4/5
More of what I learned……………………………… 6
Conclusion………………………………………………… 6
References………………………………………………….7

Reflection Essay: Lindgens, Jennifer When you go to interview anybody you think that you will learn about that certain thing sometimes you learn a lot and sometimes you learn little. When I interviewed a very interesting entrepreneur, because of his story I have learned a lot about being an entrepreneur. His name and is William H. Who owns Bills Iga in my town of Staunton, IL. I learned that you need to make sure that you have good employees and a good area to have your business. Those are one of the two most important things to know to have a very successful business. To open any type of business you need to have a very good understanding of that business you can’t go into it blind it will never work. Like for me I wont to open a nightclub one day I now as much as I can about it right now but in the future before I go to open it I will research as much as I can on the business just to make sure that I know every detail and ever thing there is to know about a night club. Owning a grocery store and owning a nightclub are the same in one in some ways they both have to get supplies and employees. As for in the nightclub the employees you need to watch more than you would in a grocery store because in a grocery store you have the employees there and then in a nightclub you have to worry about a lot more especially with the alcohol and what ages you let work there and so forth. William taught me that if you got to work in a low form of that job to make your way to be able to own it then do it, because the more experience you have doing it the better off the business will be and more of a chance that it would stay open for longer. I take entrepreneurship not as just owning a business but being that business. To understand what you are doing too got to be it got to put your time into it and make sure that you will always be there. In actual definition thought entrepreneurship is the act of being an entrepreneur or “one who undertakes innovations, finance and business acumen in an effort to transform innovations into economic goods”. This may result in new organizations or may be part of revitalizing mature organizations in response to a perceived opportunity (mashable.com, N.A.).

I am going to tell you about the five trends that will be seen in 2013 and what I think about them they are: alternative financing strategies, scalable technology, the human capital problem, entrepreneurs are getting younger and social entrepreneurship. Alternative financing strategies is that most businesses are still bootstrapping, but are encouraged by alternative funding options as more borrowers and lenders are getting creative (mashable.com, 2012). I think that in the long run this could really help entrepreneurs because the more borrowers and more lenders out there the more chances that you get to open a business because I have learned that starting it and getting the stuff to start it is a lot harder than keeping it open. Scalable technology is with the explosion of big data (predicted to increase 43% over the next 10 years) and accelerated adoption of the cloud, more and more companies will look to technology as a strategic advantage to scaling successfully (mashable.com, 2012). I think that all this technology is actually hurting entrepreneurship because now a days more things are going electronic I mean yes people have to run the technologies but then you have to watch all those hard working people that have worked for you for who knows how long lose their job and that I think would be a hard part…