Monash University MBA5313: Reflective Essay on Entrepreneurship

This reflective essay explores the experiences of an entrepreneur/founder during a client consulting project, combined with insights from prescribed readings. It covers observations about the founder's technical skills, challenges in scaling the startup, and the importance of hiring the right business personnel. The essay also references key articles such as 'Right tech, wrong time,' 'Scaling Customer Service as Your Startup Grows,' 'The Founder’s Dilemma,' and 'Why are startup founders so bad at changing their own companies?' The author reflects on their own startup experience, highlighting the need for skills in human resources, cash flow management, and leadership to achieve business growth and sustainability. The essay concludes by emphasizing the importance of various entrepreneurial skills for dealing with diverse situations and achieving specified goals.

Running Head: REFLECTIVE ESSAY
REFLECTIVE ESSAY

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Table of Contents
Experience of the entrepreneur/founder for the client consulting project they were involved............3
The prescribed readings on the entrepreneur/founder to be properly referenced..............................3
The consulting project experience should be combined.......................................................................3
References.............................................................................................................................................4

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Experience of the entrepreneur/founder for the client consulting project they were
involved
I observed many things about the entrepreneur at the time of working for the client consulting
project. I observed that the founder has best understanding about the practices of information
technology. The founder was capable to resolve the problems of Information technology in
least period of time. I also opined that after the startup in social robots, organization was not
capable to grow due to many issues. Firstly, I observed that the founder of company was not
capable to select the appropriate business person as it has affected their growth of firm.
Consequently, it would directly influence the growth of the organization. I also observed that
founder of organization wants to make lots of money but do not wish to effectively control
the flow of cash (Goffee and Scase, 2015). It is evaluated that when founder is not capable to
manage the flow of cash in their business then it could negatively impact on the business
growth.
I also analysed that founders wish to retain the administration control and business execution
at the time of expanding with consumer growth as it would also decline the growth of
company. From this, I gained my experience in many sectors like importance of human
resources selecting, cash flow control, and management control. It could support me to
become a successful entrepreneur in future (Yunus, 2017). It could also support me to
improve my personal and professional skills that could directly impact on my career. It is also
analysed that entrepreneurs should also focus o such factors caused of effectively operate
their business and obtain higher competitive benefits in lest time and cost. It is also analysed
that entrepreneurs should use many techniques to decline such kinds of issues form their
workplace (Ramadani, et al., 2015).

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The prescribed readings on the entrepreneur/founder to be properly referenced
From the reading on the articles of right tech, wrong time, I enhanced my knowledge
towards many factors that could be effective for any startup. These are new technology
ecosystem; understand the difference between old and new technology, creative destruction,
and robust coexistence. It will support me to take an appropriate decision at the time of
startup. It could also support to enhance the chance of sustainability of organization in the
marketplace. Through this, I would also be capable to understand the importance of selection
of right technology in an appropriate situation (Ander and Kappor, 2016).
From the scaling customer service as your startup grows, I understood many stages that
demonstrate what to do and what not to do. These stages are founding stage (0-5 employees),
early stage (5-20 employees), mid-stage (20-100 employees), and scale up (more than 250
employees). Through this, I would be capable to understand each activity that would be
performed by an entrepreneur in their business. It could be effective to make reliable outcome
(Michael, 2017).
From the founder’s dilemma article, I observed that entrepreneurs could be close potential to
become rich and king. They never expect others because they believe in their own personality
to complete any task. Apart from this, I gained my understanding towards two factors like
choosing money and choosing power. It would directly influence the outcome of business
(Wasserman, 2009).
From this article “startups most likely to succeed have a technical founder who quickly hires
business people”, I gained my understanding about the ways of identifying, recruiting, and
retaining employees in the working place. I also enhanced my understanding towards the
economic growth, the significance of talented workforces for the success of the firm. I
enhanced my understanding towards the complementary relationships. I also gained my

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knowledge towards a theory of entrepreneurs that support to make an effective decision
(Murmann, 2017).
From “why are startup founders so bad at changing their own companies’ article”, I gain my
understanding towards many things that could support to obtain a valid and reliable result. In
this, I understood many factors like establishing objective, maintain the procedure of
integrity, executing proven conflict resolution protocols, and guaranteeing flow up,
implementation, & accountability. It would support to manage with change and obtain higher
competitive benefits from the startup (Klein, 2017).
The consulting project experience should be combined
Before working with consulting project, I start up my own business. I used partnership
method to grow my business in the marketplace and obtain higher competitive benefits. I also
observed that I was very ambitious and desire to make lots of capital. I failed to make
effective plan towards the market size and scalability as it would create the possibilities of
failure of company’s products and services. But at the same time, I also analysed that the
business was built on the existing networks and went to grow in the first 2 years. Afterward,
my business was started to slow down. I made a decision to make partnership with another
highly skilled person for enchasing business growth. I realized that I failed to found
appropriate business person to enhance the growth of business and sustain the position of
business in the marketplace. Due to the lack of lack of skills, I was not successfully to sustain
position of organization in market and obtain higher success. Thus, I observed that
entrepreneurs should also be highly skilled and capable to deal with diverse situation of firm
to make reliable result in limited time frame. It could enable them to get positive result in
limited time frame. There are many skills that could be necessary for successful entrepreneur
like communication, interpersonal, time management, staffing, controlling, management,

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organizing, directing, and leading. It would support to me to effectively deal in the business
and accomplish their specified goal and objectives in limited time and cost.

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References
Ander, R. and Kapoor, R. 2016. Right tech, wrong time. Spotlight On Ecosystem Innovation,
pp. 1-8.
Goffee, R. and Scase, R., 2015. Women in Charge (Routledge Revivals): The Experiences of
Female Entrepreneurs. UK: Routledge.
Klein, T. 2017. Why are startup founders so bad at changing their own companies. Harvard
business review, pp. 1-4.
Michael, R. 2017. Scaling Customer Service as Your Startup Grows, Harvard business
review, pp. 1-9.
Murmann, M. 2017. the startups most likely to succeed have a technical founder who quickly
hires business people article, Harvard business review, pp. 1-4.
Ramadani, V., Hisrich, R.D. and Gërguri-Rashiti, S., 2015. Female entrepreneurs in transition
economies: insights from Albania, Macedonia, and Kosovo. World Review of
Entrepreneurship, Management, and Sustainable Development, 11(4), pp.391-413.
Wasserman, N. 2009. The founder’s dilemma, Harvard business review, pp. 103-110.
Yunus, M., 2017. Social business entrepreneurs are the solution. In The Future Makers (pp.
219-225). UK: Routledge.