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Paper 3 - Daniel Nechamkin MGRL 194 Paper 3 Jess Conway...

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Daniel Nechamkin Jess Conway MGRL 194 Paper 3 March 31, 2008 Personal Entrepreneurial Development Plan As a college student looking to graduate and go into business, it is important that I map out the direction that I will be taking to achieve entrepreneurial status. The first step to becoming an entrepreneur is identifying the external influences that have helped me become who I am today, the leadership qualities that help shape the way I will act as an entrepreneur, and the strategy that I will take as an entrepreneur. This can all be done effectively through a personal development plan. This plan will help identify my strengths and weaknesses, giving me mental guidelines to help me transform from a college student to a successful entrepreneur. A. External Influences i. Parental/Social Support My parents have been molding me into a young entrepreneur ever since I was born. When I was young I was constantly encouraged to sell lemonade on summer weekends. I ended up making some money from local parents, but lemonade did not satisfy me enough. As I grew older, yearly fads came into play and instead of buying into them I took advantage of them. My social network, friends and schoolmates, bought into the enormous Pokemon card craze in early middle school. Meanwhile, I urged my parents to give me ten dollars a week as my “Pokemon” money, since all my friends were getting a couple packs of cards a week. I put this money in a safe every week and by the end of the year had over $500 in “Pokemon” money. Some of the earliest entrepreneurial work I have ever done came from external influences such as my parents and friends. ii. Other Role Models Other than my family and friends, I looked up to several figures who have demonstrated their success as entrepreneurs. Mark Cuban is my biggest role model in this respect. Cuban worked day in day out to generate the computer knowledge to be able to capitalize on the dot com boom. His work ethic is an aspect I look up to. Once he gained large amounts of capital, he transferred his business ventures from computers to basketball. As a sports fan and an entrepreneur, I look up to someone who can stop 1
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working for money and start working for enjoyment. Not only did he buy the Dallas Mavericks, but he also transformed them from one of the worst franchises in NBA history to a top tier team that sells games out on a daily basis through effective marketing schemes and player management. iii.Cultural Support Growing up in New York, I have been constantly emerged in the culture of busy city life. Walking to school in the morning I used to see businessmen walking to work in their suits with briefcases. Doing this I realized the efficiency that is needed in order to create a successful worker’s mindset. In order to be a productive worker, one must be efficient with time, walk at a nice pace to work, and not waste time on anything that would get in the way with work. If I can one day apply this work ethic to my entrepreneurial lifestyle, I will be a much more effective worker.
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