Week 5 Reading Reflection

Assessment of Entrepreneurial Opportunities:

1. I was surprised that poor timing, premature entry specifically, contributed to 40% of venture failure! Maybe other factors are built into the poor timing reason that are combined to make this general category. For example you could consider something to have a premature entry if there are still product design flaws (which is another category the author listed as a top reason that ventures fail).
2. I am a little confused as to the objectiveness of determining customer availability for new-venture development. As I learned in operations management, market surveys tend to be overly optimistic, so I would think that a lot of risk comes from customer availability because even if customers say they will buy the product, it doesn't mean that will happen when the product comes to market.
3. Two questions I would ask the author would be: What type of ventures have been started that are lifestyle ventures, where the entrepreneur isn't interested in large profits, just enough to live off of? When is the right time to assume debt? When you need money, and can't get more from venture capitalists, what else are you supposed to do?
4. I disagree with some of the ideas in the "Facing your Fears" excerpt by Suzanne Mulvehill. Her ideas to me seem overly optimistic. I don't think that visualizing my success or just doing what I love will help me successfully transition from employee to entrepreneur. Also I think that if you have a strong developed business plan, that the inner journey would be easier.