Entrepreneurship Strategy
Bunting (2012) explores the business ideas that entrepreneurs can engage in. these include all kinds of businesses, ranging from small-scale entrepreneurs to large scale business. Bunting (2012) posits that the businesses that do well seek to be abreast with current technology. These can be technologies in IT, networks and partnerships. The ambition to grow and expand should have no boundaries or limits.
In going through the article, I learnt that there is more to business than just having the capital and investing it. The idea is to have a proper timing and the right strategies so that the investment can give maximum returns. As such, an individual needs to be well informed, knows every new trend in the market, every upcoming technology and every new development in the field. An entrepreneur, as I came to understand, should be a pioneer, not a follower.
I also came to understand that good entrepreneurs are risk takers. Bunting (2012) has it that success in business calls for identification of new opportunities. This implies that the area has not been explored before. As an entrepreneur gets into the same, there is the full understanding that it is a risk. No one else has ventured into the same and there is no certainty that everything will go right. It is more of a gamble; if it goes right, well and good, if not, there will be another chance.
In general, I can say that the article taught me not to fear taking risks. I have to understand that engaging in an entrepreneurial activity is a risk, and one has to be ready to make a profit or a loss. However, losses can be avoided if one is abreast with information on new technologies and opportunities as these can make it much easier to make a good business choice.
Reference
Bunting, C. (2012). 30 Big Ideas, Trends and Predictions for 2012. Retrieved on 1st Oct. 2012 from http://www.businessnewsdaily.com/1849-business-trends-2012.html
