Entrepreneurship

Final Exercise

What really happened in the class? It is beyond my expectation because this course did not only provide me with comprehensive framework and guideline on what to think of in order to become a successful entrepreneur but also gave me the opportunity to practice in the settings specifically designed to simulate the real world business activities. This class allowed us to take on different roles, for example, the activity of delivering the pitch, we had real commentators who have extensive business background and experiences to comment and coach us on the things that we should improve or be well aware of concerning our term project. Moreover, during the final presentation, everyone in the class had to take the role as a commentator this method tested our ability to apply what we had learned throughout the semester to our classmates’ presentations of their business models. Therefore, we have gained a lot of valuable experiences through different class activities and assignments.

 More importantly, we were able to visit real business settings to listen to successful business owners who started their businesses from the ground during the field trips to Duang Prateep Foundation and Hubba Co-working Space. There we learnt the most valuable real-life experiences from the founders of local alike and bulk.com. They emphasized that there was no free lunch in establishing a business. Most entrepreneurs have been in tough situations before, they had to sacrifice a lot of things until they eventually found their own ways to sustain their businesses.  Their speeches encouraged me to put my best effort in starting up something. There is an inspiring quote that they left for us which is “Fail Hard and Fail Young”. This quote has been inspired me since then.

There were many surprises throughout the course which encouraged more engagement from students. Personally I totally love the ideas.

After taking this course I have now realized that the constraints that I was always worried such as sources of fund, team and opportunities when starting a new venture are actually not the real constraints because we can find these things easily through many channels that you have guided us, Angels or Venture Capitalists, they really exist. No more excuse. The true constraints are creativity, passion, and devotion.

        Moreover, I personally feel that the method of selecting team members based on people’s interest is the superb idea. Not only that the team members share common interest but also it has created the sense of belonging leading to the establishment of good relationship among team members and finally it has become the strongest teamwork than any other courses.

I have learnt how to produce business plan step by step from the beginning to the completion, from creating new venture, forming a team until making the final presentation. These steps are essential to my future goal. Now I know exactly what are the components of a good business plan and what are the important things to be considered, for example, team is becoming the most important component of creating a new venture, how to measure or identify a viable business opportunity, what is its business competitive advantages, more importantly to be able to answer the questions of Why? Why you? and Why you now?  to ensure that I am on the right track of evaluating my business plan.