Entrepreneurial Journey: Analyzing Alan Sugar's Success with the Timmons FORT Model

ENTREPRENEURIAL JOURNEY
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Table of contents
Task 1a: Desktop research of an entrepreneur...........................................................................3
Task 1b: Timmons FORT model...............................................................................................3
Task 1c: Application of the model to the chosen entrepreneur and effectiveness of the model
in determining the journey of the entrepreneur..........................................................................5
Task 1d: Conclusion of successfully launching and growing into a new venture.....................6
Reference list..............................................................................................................................7
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Task 1a: Desktop research of an entrepreneur
Alan sugar the founder of Amstrad has taken the responsibility of chairman of the Am screen
Group Limited. He was knighted in the year 2000. In the year 2008, he was appointed as the
business council of the government which was then chaired by Prime Minister Gordon
Brown.
Sir Alan Sugar told that when entrepreneurs had full knowledge of their business operations
then only an entrepreneur can succeed. When Sir Alan Sugar reached the age of 12 he used to
boil beetroots for a greengrocer. At the age of 21, Alan started to sell cars, lighters. Finally, in
the year 1968, the person started Alan Michael Trading. The main business of the company
was the personal computer, keyboard, and printer which had led to the flourish of the
business and the entrepreneur (Witcher, 1990). By the age of 40 the person, Mr. Alan had
accumulated a net worth of 400 million Euros.
Currently, Alan Sugar is one of the leading entrepreneurs in Britain. He falls among the 10
richest categories of entrepreneurs in the country. The person was commonly known as Lord
Sugar which is currently called Baron Sugar. The starting point of business fortune came up
with the creation of the most common computer brand. The common computer brand was
known as Amstrad. He is the founder of Amstrad which is the short name for the Alan
Michael sugar trading. The business of his was later sold to the BSkyB with a sell value of
187 million dollars in the month of July 2007 (Liu, and Winfield, 2011, p.60).
Task 1b: Timmons FORT model
The growth of an entrepreneur involves the entrepreneurial journey. The entrepreneurial
journey is the journey from the start up to the success of the entrepreneur. This journey can
be well defined by the Timmons Fort model which involves Founder, Opportunity, Resources
and finally the team. The model states an entrepreneur is one who can balance up the critical
factors. There are four factors of the model which are:
Opportunity factor- As stated by Duchesneau and Gartner (1990, p.297), the opportunity
factor denotes that the work or the responsibility of entrepreneurship is driven by the
opportunity. A good idea cannot be a good opportunity at every time but the market demand
that is present can define the value of the business idea. The idea to start up a business can be
viable when the idea gets into the services and the products that can be attractive and durable.
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