“Surviving a failure gives you more self-confidence. Failures are great learning tools…but they must be kept to a minimum.” – Jeffrey Immelt.
No entrepreneur wants to fail to learn. There is a technique to understand how to run a business to prevent or at least reduce failure, and that is to analyze all relevant variables before taking action. To avoid learning from failures too early, one must first grasp how business is conducted and what to look for to gauge the likelihood of success.
This is precisely what we discovered this week on a worldwide scale.
At this stage in the course, I comprehend my enterprise idea, “Skype Online Life Coaching,” from the perspective of a local entrepreneur. Furthermore, I am skilled in the design and execution of market research. However, no market research or product can be used in isolation since each entrepreneur must develop their firm for things to happen. What to look for when starting a company is a critical question to ask.
By exploring the “Doing Business Project” that was launched in 2002 by the World Bank, available at https://archive.doingbusiness.org/en/data. We were asked to look at domestic small and medium-sized companies and measure the regulations applying to them through their life cycle. I decided that I would want to invest in my country, Israel. Nonetheless, we were instructed to investigate two to three additional economies from the “Doing Business Project” drop-down menu for this activity. My second area of interest is investing in the United States.
With that, I need your help in drafting a paper addressing the following questions:
What have you learned about the entrepreneurial conditions in the chosen country in this unit?
How did you learn it?
What went well, and what would you want to improve in the future?
How did you give and receive feedback?
What did you learn about yourself in the process?
How did you divide work in your group?
