Write a overview reflection on the Ted Talk from the link below on Entrepreneurship in a one to two page paper. It can be double spaced and format of your choice. I am looking to know that you viewed the talk and understand the message of the presenter.
Ted Talk-The Recipe for Successful Entrepreneurship
Course Name: Course Number
Ted Talk-The Recipe for Successful Entrepreneurship
Gabriel (2018) came from a household of capitalists since is his parents possess companies which they have developed from the very beginning. Gabriel has always been fervent around entrepreneurship as well as business that led him to researching the formula for a successful entrepreneur. In his Ted Talk on “The recipe for successful entrepreneurship,” he focuses on the key factors that make an entrepreneur successful. According to Gabriel (2018), the three most important factors that an entrepreneur needs for success are persistence, vision, and an entrepreneurial friendly environment. Gabriel (2018) first explains that an entrepreneur is anyone willing to establish any business taking on financial risks in the hope that they will gain profit. Entrepreneurs are determined since they look at challenges as an opportunity for success. This means that they are determined to ensure that all endeavors are successful.
Persistent is a virtue of every successful entrepreneur. This is because it can be difficult to maintain success since everything takes a longer time than expected. Successful entrepreneurs are driven by persistence and dreams of believing that they should never give up on building a viable venture. Most of the co-founders of companies have spent years trying to developing a business.
For many of the entrepreneurs, starting a business is the result of many years of planning and dreaming. For instance, the CEO and Co-founder of Whatsapp Jan Kuom taught himself coding and computer skills and in 2009 he created the largest mobile messaging service in the world (Gabriel, 2018). He was persistent in going beyond living the minimum wage. It takes a lot of time and patience for an entrepreneur before they start getting profitable in their venture. This is because becoming a successful entrepreneur is a gradual process that demands passing each stage and concentrating on growth.
During the initial stages of a business, entrepreneurs go through hardship since they focus on the growth and success of the business rather than personal development. For instance, the profit gained during the early stages of business has to be re-invested back into the business (Gabriel, 2018). One of the challenges in maintaining persistence is lack of support from family and friends. Ideally, it is hard for family or friends to support something they fail to understand or fail to understand why one is doing.
An entrepreneur tends to look for opportunities through researching into the community and analyzing the problems it has or the service it likes. The main focus of an entrepreneur is to invest and make money from service in demand or from a solution they offer. Every entrepreneur has to have a vision that offers direction and sense of purpose to the identified opportunity. Entrepreneurs with vision can solve problems and offer appropriate and viable solutions.
For an entrepreneur to be successful they have to be in an entrepreneurial friendly setting. Ideally, an entrepreneurial friendly atmosphere is a setting that promotes innovation and puts a less challenges in an entrepreneur’s path (Gabriel, 2018). These obstacles may include excessive paperwork and high tariffs. An entrepreneurial friendly environment enables entrepreneurs to quickly react to opportunities as they appear. Over regulatory environment impacts the success of an entrepreneur since it influences the innovation and entrepreneurial opportunities.
In conclusion, Gabriel in his Ted Talk on the recipe of a successful entrepreneur has focused on three main factors that influence the success of an entrepreneur. These factors of entrepreneurial success include persistence, vision, and an entrepreneurial friendly environment. These are critical in shaping the path and success of an entrepreneur in every opportunity they discover.
Gabriel, D. (2018). Ted Talk-The Recipe for Successful Entrepreneurship. Available at: https://www.ted.com/talks/gabriel_duque_the_recipe_for_a_successful_entrepreneur
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