In chapter 9 of Entrepreneurship:
Theory, Process, and Practice, I was surprised to learn about all the
different types of problems entrepreneurs face, both external and internal, as
well as all the common reasons new ventures fail. Figure 9.2 on page 267 was
very helpful in understanding the problems because it broke them down into pie
charts that I found very easy to follow. I found it interesting that numerous
reasons a new venture fails could easily be avoided if the entrepreneur did a
little more research before rushing into opening the business.
I didn’t find any
particular part to be confusing. This chapter seemed to be straightforward and
mostly informative. Overall I thought that the examples and graphs were very
helpful in providing the information in a visual format, which I think was
especially important for figure 9.2.
I would be
interested in knowing which pitfall is the worst in selecting a venture. I
would think it would be “no real insight into the market” (Kuratko 259) because
I think that it set you up for the most failure later on down the road.
Something I would also be interested in knowing is when is the right time to
start a new venture. Obviously I think there are several things that you need
to have in order to start a business but is it ever possible to have done too
much research into a new venture; at what point do you have to just stop and
say to yourself that it’s time to start.
In this chapter I didn’t disagree with anything that the author said,
which is a change from previous chapters. I thought that for the most part it
was very straightforward and easy to comprehend.
