Team 5: Entrepreneurship
PANELISTS
- Scot Cosentino; Owner of Goodfella’s Brick Oven Pizza and Pasta Restaurant
- Jesse Mejia; Founder of New Renaissance Events
- Antony Wei; Entrepreneur & Owner of Standford Parking Garage
Introduction
Team 5’s Panel on entrepreneurship will discuss the advantages and disadvantages to starting your own business. Entrepreneurs are defined as those individuals who take risks in order to further succeed in their endeavors of opening a new enterprise, venture, or idea. We would like to please ask the audience to hold any questions or concerns until after the conclusion of the discussion.
To begin, we would appreciate it if each panel member would start off by introducing him or herself, while briefly discussing their current business operations.
Questions
- What were some of the contributing factors that led you to becoming an entrepreneur?
- How did you market yourself and your business as unique compared to your competitors, leading to your success as an entrepreneur?
- What are the challenges you face as an entrepreneur that one may NOT face when they work under someone? How do you overcome these challenges? … time, money, management, etc
- Was your first attempt in starting your own business a failure or were you successful from the start? If you did fail from the start, how did you pick yourself up again and have the courage to try again? What was your biggest motivational force that pushed you to strive to succeed?
- How have you exemplified the important characteristics one must have to be a successful entrepreneur?
- What do you think is the one most important piece of advice you would give to someone who wants to start their own business?
Conclusion
There are many risks and benefits to being an entrepreneur. As our panelists discussed, entrepreneurs distinctly take actions of risk, for the chance of success. There are many qualities and characteristics entrepreneurs portray that enable them to succeed. Of course, anyone could be an entrepreneur, but those who strive to pursue the challenge and are able to overcome any obstacles put forth in front of them, are those who will be most successful. Some great key points to take away from today’s discussion include the following:
- Scot discussed how entrepreneurs should not seek the approval of others, for you will get more “no’s” than yes’s”. Naturally, entrepreneurs are those who separate themselves by others by taking chances of possibly failing. If everyone had the desire to be an entrepreneur, everyone would feel the answer to opening a new business should be “yes”. However, that is precisely what distinguishes entrepreneurs from other individuals, the ability to say “yes” and believe in taking the risks.
- Scott and Jesse both agreed with the thoughts of surveying the public for their own businesses. Surveys are crucial to marketing and communicating to the public, and enables you to learn about others’ needs and desires.
- Antony made a solid point by saying that when you are an entrepreneur, you directly see the amount of work and effort you put into your own company. When working in large companies, you may succeed in your operations, but may not realize those successes directly as you would when you run your own business.
- Antony and Jesse agreed that the happiness of employees influences that happiness of customers. Employers should always want their employees to be happy, for an employees attitude towards his/her line of work shows throughout the company, affecting the customers attitudes.
- Scot put a emphasis on getting things done as soon as possible, in order to have time “later”. Handle things when you first see the opportunity. Get a lot of “done’s” to ensure that there isn’t a build up of obstacles and challenges to overcome all at once.
- Antony started that in order to be an entrepreneur, you have to be a risk taker. However, the risk must be calculated.
- All panelists believe that entrepreneurs should always aim high. Have your vision in front of you and always keep your eye on your vision. If a failure occurs, pick yourself up and try again, never lose sight of what is on top of the mountain.
Other Key Points to be Noted
Scot
- Everyone has their own dream. Working for yourself you have no one to answer to but yourself. Your success and failures are your own
- Your vision is what makes you succeed
- You need to have something that works, is wanted, and needed
- Focus on every part of your business, you need to know every area of your industry
Jesse
- Make sure everything is going properly in order to have a prosperous cycle, instead of a viscous one
- It is good to start young and related what your learning in school to your business
- Surround yourself around successful people to be motivated
- Have a good perspective on things, take the challenge
Antony
- When the boss is very personal, customers are more loyal
- Be available 24 hours a day, stress is always with you. In order to overcome this, you must manage your stress. It is your business, you will get things done
- Don’t be afraid to fail
- Make sure you do your research on your business
29 responses so far
I thought the panelists were really knowledgeable and gave great advice. Scot Cosentino really kept the presentation engaging and interesting. The closing statement was a little too long and the key points were more or less just a whole summary of the questions and answers. There should have been more time for questions. It was a good presentation overall though.
Great panel guys! Definitely get a sense of different management types here. But the greatest thing we learn here is to be engrossed in what you do. Make customers happy, learn, teach others how to do things. If you want something done correct then learn how to do it the best and teach others how to do it.
I felt the presentation was overall good. The panel speakers were very good especially Scot. The panels seemed organized and polite on the podium which is a plus. The questions were in and out although, some restriction should’ve been placed due to time constraints. I felt the closing statement was a bit lengthy and the question segment was really too short as numerous students had their hand up especially the west wing of the class and yet they were ignored.
Great panelists, but Scot was definitely the star. “Get as many done’s as possible” is one thing that I will take away from this panel. Also, I really liked how Scot made clear that an entrepreneur has to know every aspect of his/her business from accounting to marketing because in the end what happens in these areas affects the owner the most.
I totally agree with Thomas. “Get as many done as possible” is the most important thing I learned from this panel. I always try to plan everything out first. However, I usually would stop and relax after I finish today’s work, unlike Scot. Maybe I should push myself a little bit harder, and see how far I can go!
Awesome panel! The panelists really gave me an idea on how to start your own business and how not to be afraid and take a risk as an entrepreneur. I also agree with Scot that”Working for yourself you have no one to answer to but yourself. ” I like the idea of having your own business and being the boss. Like Laddeo said I also felt that the closing statement was long and that there wasn’t enough time to answer questions. I also thought that putting Jesse in also let the class get to know Jesse a bit more than just being a TA.
Many times, things will go unexpected and you won’t have any control of it. It was unfortunate that your speakers cancelled out at the last minute but it was a really smart idea to ask Jesse to be a panelist. It is quick thinking like these that can save a important event which turned this into a really good panel.
The closing statement was a bit too long but the quality was good.
Overall, I felt that it was pretty good. The panelists gave some really good advice for those who wanted to start their own business.
“Know every part of your business”, “start young” and “don’t be afraid to fail.”
Great Panel! The speakers worked to your advantage and kept everyone interested on how they started their own business. Scot made a lot of sense when he said that if a bill arrives, go ahead and pay it right away. Most of us should know by now that procrastination affects us negatively and its better to get things out of the way as soon as possible. Antony told us how customer service is important even in an entrepreneur business. And finally Jesse showed us all that if your first business fails, keep striving and looking for something else to succeed in. DONT GIVE UP…Great Presentation =]
I liked this presentation. You did a really good job using Jesse as a stand in. A million things can go wrong at once but you still have to get the job done, so great job. The class received good advice from all three panelists on how to take risks and be an entrepreneur. I thought that Scot was very entertaining and for the record his pizza is really good, especially for someone who didn’t know how to make pizza before opening the restaurant.
If you don’t want to sell your soul to a large company, like many people who have committed their lives to companies such as Goldman Sack, opening your business may be your motto; keep in mind however, that unlike Lehman Brothers, when they went down and people were hurt financially, but no one lost their babe; if your business goes under, you lose your babe, something you created with your own bare hands. Where risks are greater, so are the rewards, if your babe does well, your sky is the limit!
This presentation was really great and it really related to the class because we had 3 panelists who I believe everyone in the class was able to relate or have an interest in.
Scot knew nothing about a pizza store and he managed to start one and is in fact expanding it. Jesse is a classmate to all of us and he showed that even having to focus on school and work hard there he has a whole other business that he takes care of. Anthony related to the class in the way that he seemed very young and very successful.
They each gave some pretty great points listed above and I believe that the class was interested in this presentation from beginning to end, I know I was.
Good job.
I thought that this was a great presentation, due to the fact that the speakers covered a lot of the terms and ideas represented in our book. As Scott, Jesse and Anthony stated the key to entrepreneurship is believing in yourself. Entrepreneurs are described as people who are risk takers and self motivators. Scott opened his own pizza parlor without an ounce of knowledge on the subject. He learned everything that he needed to by reading up on the subject and doing outside research. This truly demonstrated self motivation. All three panelist also hinted upon the importance of teamwork. With the limited number of staff that Jesse has he counts on each of them to do their part in order to get that specific event set into motion. they each rel on each other for not only work support, but emotional support as well. they have a well knitted organizational culture. He works with people who share his same ideals. I think that the panelist for this discussion were expertly chosen. It would of helped to have at least one more panelist, but overall it was a job well done.
This panel was really great. All the speakers gave really good advice as to going after your dreams as an entrepreneur. The presentation was really organized and it was entertaining at the same time. Some of the key points i picked up from this panel is Scott mentioned “if you want to start something, start young” – his quote has followed me and giving me that drive to hopefully start my business soon. Jesse also added to that quote, to pick up every important information that you can either from your mentors, professors or even your business courses. One thing i like what Antony spoke about how taking a risk to start your own business. People like me are afraid to lose a lot but in the end it might be worth taking a risk because we watch that risk become a success.
The advice given by the three entrepreneur not only applies to students pursuing this path, but also to students with interest in other fields of study. One of the points that I will always carry with me is to shoot for the stars. A quote I recently came across that strengths this statement is ” if you succeed at everything you try, you’ve probably set your sights too low.” You will always get more “No” than you get “Yes.” You have to keep moving forward and never stop. Theresa Conway as well as many of the other panelist mentioned we should never take things personal. Our ego will kill us otherwise and don’t take things too seriously.
There are several good points I carried out from the panel: networking in different levels of business; keep the employees “happy”;do something you love, love something you do; inner persistance of competition. To emphasize on ” do something you love, love something you do”, I think I will have this quote in mind for my future career. I have been confused about what to do is right for me in the future, whether I should pursue my career for a solid job and money or do something I like but without “money-orientated”. No I have the answer I like.=)
I agree with Scott regarding the use of surveys in an organization. It is vital to have a business plan that incorporates the needs and desires of the public. I also agree with panel’s concept that you should ignore the naysayers and follow your dream. I think that the panel did a good job showing what it takes to be an entrepreneur, such as the characteristics necessary in order to carry out the job.
Good panel. Scot Cosentino; Owner of Goodfella’s Brick Oven Pizza and Pasta Restaurant definitely stole the show. He left good advice to anyone who wants to become an entrepreneur. He said that you should know every aspect of your business from top to bottom. He also stated that if you have a bill don’t put it off pay it now, Get as many things done as quickly as possible so you don’t have to do it later. Antony Wei; Entrepreneur & Owner of Standford Parking Garage I think made the most important point Don’t be afraid to fail. In everything you do the road won’t be easy all the time, but if your afraid to fail in the end you may prevent yourself from being successful.
I Think this panel was really good. I liked how guys stressed the importance of surveying i thought its really important since you want to know what people like and you can implement your ideas and mix it up with what people are looking for, in the end bringing you and the customers a great deal of satisfaction( and money for you). As well the idea of getting things done right away was very true, and useful, since now a days world moving at great pace there is necessity of doing things right away to keep up with the pace. Believing in yourself and caring for others were brought up to, which was often stressed throughout the semester so the panelist just proved to know their thing well, and send out a good deal of useful information to all the students. Overall it was a fun panel, all panelists especially Scot seemed very enthusiatic, brought alot of energy to the show.
It was nice to hear Antony speak about his successes and failures. He gave practical advice not to get into franchising because of the very high percentages that the corporation demands. It seemed like he was a very ambitious person that tried many different businesses with failures and success and to hear him talk about it was very interesting. He mentioned that even though he charges more than other garages in the area, people stay with him because they respect him and trust him, which goes to show you how acting with integrity is good for business.
The honesty of this panel is what made it really interesting. All three, although passionate about entrepreneurship, were able to talk about failures that they’ve had in executing their business plans. I was especially intrigued by Scot’s admittance to entering an industry which he knew nothing about. He was bold and spoke with enthusiasm, and I’m impressed by all the panelists’ drive and commitment to their chosen businesses.
By far, one of the most interesting Panels of the semester. I believe everyone one day wants to be an entrepreneur because you have the opportunity to be your own boss and do what makes you happy. Scott, Jessie, and Antony gave us a taste of how it feels to be one and it was great. We heard what it takes to be successful in that field and most importantly kept it real. It was a very enlightening Panel, Group 5, good job!
I enjoyed this panel, had a lot of interesting points. I can relate to all the speakers on the panel. I myself have a small business, web hosting, that I do at home. It was a lot of work to put it together, and especially that I am the only one running it, I have to sacrifice a lot of my time so that I can attend to my customer’s needs. Being a small business owner is difficult and definitely takes a lot of time to perfect. Failures come and go, it’s just part of life.
This was one of my favorite panels. All of the speakers did an excellent advice on providing some good points, advice, and experiences on entrepeanurship and the process of starting up a business.scot consentino was easily the main attraction of the panel by his charismatic demeanor and his words of wisdom. When you like to hear about success stories and starting things from scratch, his is something to keep in mind. Overall, I really enjoyed this panel because I myself one day want to open up a business, such as a pizza store, and some of the stories and advice the speakers have given have been very helpful.
A line i’ll never forget from scott, “Do it now, you’ll have time for later” If someone gets the depth meaning of that, it will change his/her mind.
In the beginning of the semester Professor Tawil told us that we would always be marketing ourselves to potential employers, making entrepreneurship a relevant topic for anyone who intends to hold down a job. I think the most important message this panel had to offer was “do it now”. That advice has helped me increase personal productivity by not wasting time and is really the key to successful time management. Scot Cosentino definitely had a lot of useful advice to share. The story of how he opened his pizzeria with a can-do attitude, passion and knowledge is inspiring to anyone who may think that they can’t open a business just because they do not know anything about an industry. The way Scot stressed surveying people to find what they wanted out of a business is very important and probably the reason why some businesses don’t get off the ground. Overall this was an excellent panel and great speakers who shared valuable information about their fields.
One of the reason I really enjoyed this class was that panelists brought what was real out there. Textbooks usually tell us the same things when going into building our own business. Calculate the risks, being careful, 4 out of 5 businesses fail in first 5 years, and the list continues. However, it makes us overlook the chances of building something out of courage and passion. Although what textbook tells us is absolutely true, I think having panels sharing their own stories balance things out for us to see the real picture. In that regards, Scot Cosentino really showed us that side where we need passion and courage to just get in and start. I also want to try at his restaurant sometime soon.
I felt the presentation was overall good. The panel speakers were very good especially Scot. The panels seemed organized and polite on the podium which is a plus. The questions were in and out although, some restriction should’ve been placed due to time constraints. I felt the closing statement was a bit lengthy and the question segment was really too short as numerous students had their hand up especially the west wing of the class and yet they were ignored.
P.S: Miji this is my post just posting it again because i am not sure why my name was not displayed.
Okay, so i was in team 5!:) so thank you everyone for saying nice things about our panel and i’m so happy that you got some great things from our team’s panel. I really want to thank Jesse for stepping in for us when one of our panelists could not make it. Aside from Scot, who i’ve known for a while and i think he’s just a super savvy, hyper, smart guy i think Jesse was really good at getting us inspired and giving us his an example of someone young and ambitious who we could relate too. Anthony was great as well! Thanx again 🙂
I think panel 5 did a great job chosing a very applicable topic. i myself plan to be an entrepeneur and I learned a lot from the panel. I was very moved by what Scot said about how when your an entrepeneur you control your own destiny. That your successes and failures only belong to you. This is something that motivates me to become an entrepeneur.