When I first started the course I mistakenly believed that being an entrepreneur is easy, it only takes a good and innovative (I then did not fully understand the meaning of the word) idea and a sound business plan to start a business that was doomed to succeed. Well, if being an “experimental” entrepreneur requires so much time and effort, I can only imagine how much more difficult it gets when your money and future is at risk.
What I realized while working on developing my business idea is that thinking and acting as an entrepreneur really put me out of my comfort zone. It was very challenging for me to control every aspect of the business creation as I am used to and it was at times scary to not have a clear strategy on how to turn my idea into a successful venture. Throughout my academic career at Baruch I was taught that if I studied the given material well enough and passed all the tests I would succeed in the business world no matter what. What I wasn’t taught was how to make decisions and hold responsibility for my actions. One of the main lessons that I’ve learned in this class is that entrepreneurship involves a lot of decision making and personal responsibility, but it is crucial to reach out to and talk to people that have the information, experience and knowledge that you are missing. Understanding the complexity of the 3D printing technology and creating a viable executive summary would be impossible for me without sharing my experience with my classmates and receiving constructive criticism from my professor (thank you!) as well as having amazing field trips to NRI and Fat Cat Fab Lab.
I have always considered my attention to detail and research skills as one of my main strengths in the academic setting. These qualities proved to be just as important in the business creation. While shaping my initial idea and preparing the executive summary and final pitch, I thoroughly researched the industry, target market and competitors, trying to understand how viable my idea was. With every piece of information my initial idea transformed and I took a slightly different direction in my researched and what I have learned from this experience is that you shouldn’t be afraid of changes. The first idea that comes to your brain is not always the best idea, it is necessary to take all the available information and all the advice and comments you can get into consideration and shape it into a sound and viable business.
After this course, I grew more confident in my desire to start my own business one day, and I am sure that, when the time comes, I will be more prepared for the challenges that may come my way.