I never thought about having my own business in the future because I am not a risk-taker. However, after today’s class, I thought it is interesting and I learnt a lot from the alumni. There are several things we have to keep in mind when we run a firm, and I want to discuss two of them in the following paragraphs.

1. SMALL

In the initial, firms should order small quantity or produce small quantity, which will not cost much. Then, firms should put their goods in a small number of stores, so that it is easier for owners to get feedback of their new products from costumers. More importantly, firms should stay in small at the very beginning. Because there must be many problems that occur during operation, staying in small size can let the owners to deal with them more easily and minimize risks.

2. CONSUMER NEEDS

As far as I am concerned, the answer of how could a firm success is closely related to consumer needs. Tangoo helps people to find an appropriate restaurant, and SIP provides soda with better quality. Nevertheless, it is impossible to meet everyone’s requirement. For example, Apple concentrates on creating high-tech products to attract a large group of people who need these products, but it just ignores someone who cannot afford their products. Therefore, owners should listen to costumers’ suggestion, but they should let their firms to be what they are. That is to say, let their firms to be themselves, or they might be disorganized.