Last week in class, we examined three tourguide businesses and discussed which one was the most successful. Through the exercise, I learned that entrepreneurship is all about find opportunities and capitalizing on them. For example, the most successful tourguide business, Big Bus, connected better with its customers over its competitors because it took advantage of social media’s networking ability (facebook, twitter.. etc). Entrepreneurship is a difficult skill/talent to obtain, but after reading an article in the Globe and Mail, I am convinced that the key to becoming a better entrepreneur is knowledge.
In the article, David Craig saw the opportunity for a mobile kitchen catering service in Canada based on his previous knowledge of the mobile kitchen rentals market in the United States (there wasn’t one in Canada before he established his company). His venture proved to be highly successful.
From David’s story, I gathered that the key to entrepreneurship is to have a broad knowledge of things. For example, you can initiate a project that was successful in one industry in another industry. In this sense, I think the reapplication and redesigning of knowledge is what drives entrepreneurship.
Word Count: 189