Entrepreneurship Case Study

User Generated

nywnanjn

Humanities

Description


The sample is 16 pages. i want you to write 8 pages it has to be a new and small business.


Here is the Content Guidelines for writing report:

Format: double spaced, 12-pt. Times Roman font. Your references should follow APA format.

  • 1)Introduction (1 page or less) Describe the main objectives/goals of your case study project, and provide an overview of the main questions and issues your paper will address.
  • 2)Overview of the business (1page) You should describe briefly about the business, such as industry, sales, profits, number of employees, gender, age, educational background of the entrepreneur, time they have been in this country, add if any interesting information that they might want to share.
  • 3)Analysis of Entrepreneurship intention (one and half pages)
  • 4)Analysis of Beginning considerations (one and half pages)
  • 5)Analysis of Marketing and financial considerations (one and half pages)
  • 6)Analysis of Sources of Funds and conclusion (one and half pages)

The following four sections will be the main body of your paper. I recommend you select at least 2-3 questions above from each section and analysis those questions with the information you collected from the interview. The conclusion question is required to answer.

Unformatted Attachment Preview

The Entrepreneurship Case Study (individual work) Each student should follow a small business that was started by the current owner/manager. It can be your current employer, or your parent’s business. Your key task is to talk to the founder(s) and learn about how they have founded and managed their businesses. Use your network of friends, neighbors, relatives and previous employment to find a company willing to participate. Alternatively, select a company that you would like to work for in the future. The opportunity to network and get your foot in the door may help you accomplish your goals. The following will be some of the questions that you can ask the owners about. But you are not limited to them. Remember you are learning and so you are encouraged to ask more questions that you are interested and that may be helpful when you start or run your businesses. 1. Basic information of the business: You should ask basic information about the business, such as industry (retailing, restaurant, and so on), sales, profits, number of employees, age of the company and the owner (for this, you can have a range, such as 40-50), educational background, time they have been in this country, if any parent owned a business before and any other interesting stories that they might want to share. Sales and profits can be hard to get. For these issues, you can ask for a range, such as between $50,000 and $100,000, or above 1 million dollars. If that is not possible, do include the number of employees. 2. Entrepreneurship intention: Why did they start the business? What opportunity identification sequence was used for the initial launching of the business? What form of business does the company choose? Why? Provide a time line for the venture beginning with when the idea was first formed. How did the idea evolve over time, or did it? 3. Beginning considerations: Did the company write a business plan? If no, why? If yes, how did they do it? What was the biggest headache while they crafted their plan? Who are the key customers? How did they choose that group? Describe the external environment for the venture. Who are the major competitors? What is the labor market like? Are they any major legal or regulatory restrictions? How rapidly is technology changing the way the company does business? Describe any ethical issues or problems the management team encountered along the way. How were these problems resolved? Describe the exit or harvesting strategy of the entrepreneurs. Will the venture be harvested? Do the entrepreneurs have an exit strategy in place? 4. Marketing and financial considerations: What is the marketing strategy? What is the unique selling proposition? Ask him/her to describe one marketing trick that he/she used. Do they have a balance sheet and an income statement? Do they have the projected financial statements? If yes, ask them how they did them. If no, ask them why they did not have them. Did they ever have cash flow problems? If yes, how did they deal with it? If no, how did they do to prevent that from happening? How did they price their products/services? What kinds of advertising did they choose? Why did they do so? Ask them to show a piece of their advertising that they are very proud of (in print or video or audio). Do they have their own website? Did the website help and how? 5. Sources of Funds: When they started up, how did they finance their businesses? Did the founders use debt or equity financing? Were there multiple levels of financing? Where do they do their businesses? How did they choose that place? What is their organizational culture? Ask them for one trick that they used to motivate their workers. Conclusion question (required): Chart annual sales since the venture began. Describe key events in the development of the venture with reference to the time line. Include the following components: 1. Major resources available at founding and acquired throughout the life of the venture 2. Major changes in the products or services offered 3. The addition or termination of key partners or employees (pay close attention to the addition or deletion of members of the management team) 4. Major technological shifts and breakthroughs 5. Major changes in markets Finally, you must turn in a written report of this Entrepreneurship Case Study. The length of the case write-up is up to you. High quality reports in the past have varied between 8 pages. The birth and subsequent growth of entrepreneurial ventures are frequently an exciting and life changing event for the people involved. The case report should fully capture this experience. Entrepreneur Case Study Introduction: This entrepreneurship case study will be over my father Roberto Mora SR who has been an entrepreneur for the majority of his life. He started working at a car audio installation/ window tinting business and eventually started his own window tinting business, which was his first business named Solar Control Window tinting. After years of sweating and owning a business in the service market he decided to open up The Peace Pipe smoke shop in 2004 which is a retail business and will be the business that i focus on him owning . This case study will focus on why Roberto decided to start his own business, How he did it, and what it has become through the years. An overview of The Peace Pipe will be provided and explained to give an idea of what the business is and its performance. I will analyze Roberto’s entrepreneurship intentions, which explains why he started the business. Next an analysis of his beginning considerations, gives information of all the different aspects thought of before starting the business. Marketing and financial considerations is the next step of my case study, which details how he markets his business and the management of finances and pricing of products. The next part of my case study will deal with the sources of funds, where the money to start the business came from and how he decided the location and organizational culture. The final issue in the case study will deal with major changes in the market, resources, products sold, employees/partners and technology of The Peace Pipe. Overview of the business: The Peace Pipe is a retail store in the smoke shop industry. The shop shop industry deals from glass smoking pipes all the way to erotic novelties, it is under constant change from year to year and demands can change from one second to the next. Customers of smoke shop businesses are what keeps the industry alive it is not like other industries that the government backs up and bails out, so all the producers in the smoke shop industry must really tailor their products to fulfill their customer’s needs. The owner tells me that 1.1 million a year in revenue is made with his businesses, he does not focus on how much profits are made as long as all the bills are paid he's happy with how things are going. The Peace Pipe has 4 locations the first one opened in mcallen on ware rd, then mission on conway ave, then weslaco on old 83 and finally the second location in mcallen on 10th st., the owner says he will open more in the future. The stores are all ran by the boss but he has his 6 workers that share shifts working at all 4 locations. The 6 workers are all males and are close friends to my dad and one of them is even my cousin, their names are George, Rolando, Mark, Ramiro, Eric, and Tony they each enjoy work and are paid cash every weekend depending on how many days they worked. The owner Roberto Mora SR is 41 years old and has had The Peace Pipe open going on 13 years since 2004. Roberto was born and raised in the RGV, also got his GED in 1993 from mission high school. He used to own a window tinting business named Solar Control Window Tinting for 5 years before opening The Peace Pipe. Robert could have never imagined being this successful in life based on where he came from. Analysis of entrepreneurship intention: Roberto started The Peace Pipe because he wanted to challenge himself in life and decided a smoke shop was the best way to do so. He wanted to take a big risk that if successful would have impressive returns. This business owner is not afraid of risk he ditched his successful window tinting business of 5 years, to gamble all his money in a business industry that he is unfamiliar with. Roberto noticed that there is a abundance of smokers in the valley, and he himself would shop at the smoke shops that were opened before The Peace Pipe and was not impressed with their selection or service. The large smoking community is great since it gives him a large customer base that has a variety of demands, and the mediocre smoke shops that Roberto had examined are not able or do not care to fulfill all the needs of RGV smoke shop customers. Roberto believed that he could open a business that would cater to all the smokers needs and serve as a trend setter by offering the latest products and knowledge to the smoke shop community. The opportunity to take a large share of the smoke shop market in the RGV was what Roberto was attracted to and made him launch the business. Roberto knew he could adapt and establish his smoke shop as one of the best in the RGV through listening to his customers demands and staying up to date with the smoke shop industry. The Peace pipe is a retail smoke shop that focuses on tobacco products and accessories as well as adult novelties. They choose to be a retail smoke shop shop that focusses on the trends and new products that come into the industry like glass pipes, vaporizers, blunts, grinders etc. versus traditional smoke shops that focus solely on cigars,cigarettes, lighters, loose tobacco. They want to satisfy the new age smokers and attract all the new generations that smoke that is only possible by offering cutting edge products that are new and exciting that cannot be found at your regular smoke shops or tobacco stores. Many people wonder why they sell adult novelties but there is a large demand for them especially with the older crowd of customers, male enhancement and toys are a big deal in the RGV. The Peace Pipe does retail instead of wholesale due to the fact that they want to sell products for as much possible to make the most profit, they do not want to sit on tons and tons of inventory that they have to worry about selling. The Peace Pipe wants to be up close to their customers and know exactly what they are thinking, when you do wholesale you only deal with other retailers instead of the actual customers. Retail is the way to go when owning a small business you get to deal with individuals versus companies and you get to create life long relationships with clients that mean a whole lot more than just profits. Roberto did not take much time starting the business he wanted to jump into the market before it becomes flooded to establish The Peace Pipe as the go to shop in the RGV for all your smoke shop and adult needs. Once a market becomes flooded with much competition it is bad for business and usually leads to price wars which make it worse on everyone operating in the same market. Here is a short time line on how he started the business, in 2003 Roberto began going to all the smoke shops asking what he had to do to open up a similar business. Then after a year in may 2004 he opened The Peace pipe in Mcallen,Tx with minimal merchandise, then 2 years later opened up the location in Mission,Tx. The two stores started making serious money for Roberto and led him to now having 4 locations across 3 cities in the RGV. He has grown the business to everything he wanted them to be but their is always room for improvement which he understands and continues to work at day in and day out to ever expand this business for his family’s future. Beginning considerations: Most businesses create a business plan before actually opening, Roberto did not create one when opening up The Peace Pipe and it hasn't effected him since. Rob takes business on a day to day basis, there is no reason to try and plan everything out as long as money is coming in business is doing just fine. Clearly Rob needs to implement a business plan in the future, any business can benefit from creating a business plan, even though business is doing above average there is always room for improvement. The main customers are 18-70 year olds they buy a variety of products from tobacco related items to erotic novelties and even vitamins and cream chargers. They do not discriminate when attracting customers they accept any race or gender with open arms . Being open minded is the best way to do business it gives you more opportunities to gain customers from all different demographics and in turn makes more profits. When Rob first started the business there wasn't much competition in the shop shop businesses in the RGV, but now there are a great amount of competitors with growing numbers as the years go by. The main competitors of The Peace Pipe are Pow Wow, Puff and Stuff, Good Times, Pokey’s Planet and Free Spirits they all have locations in the same cities and have been around for a good while. Rob assures me that the other shops do not compare to The Peace Pipe’s inventory. The labor market for The Peace Pipe is mainly people that Robert knows personally that have good knowledge about the smoke shop industry and have good backgrounds that show they can be trusted to perform. Robert could benefit from searching for potential job candidates other than just people he knows, it could bring in more diverse employees that can benefit the company. There is not much restrictions to starting your own smoke shop business, Robert tells me that everything required can be easily obtained. All the permits required to sell tobacco products and to just open a business are not that expensive and could be easily paid by a business owner. The one major law they must follow when conducting business is that customers must be 18 years and older, the state of Texas is very strict when enforcing tobacco laws and constantly tests tobacco retailers. One trick the state of Texas does is by sending in under age children to ensure The Peace Pipe checks for proper identification that each of their customers are 18 years of age or older. Rob also tells me that Technology is constantly changing the products and trends in the smoke shop industry. Every week new tech is brought into the smoke shop industry and has smoke shop owners constantly ordering more and more inventory to provide all the newest products. In a industry as dynamic as this one a business owner must be open to new ideas and methods to ensure they do not become stale and start losing market share. Rob mentioned that his management team only encountered a ethical problem once and that it involved the state of Texas for not giving the correct knowledge on how taxes were supposed to be conducted. He is lucky his business has not faced much ethical problems, but this owner must never let his guard down and avoid ethical issues. This entrepreneur does not have a harvesting or exit strategy, he believes this business will continue to thrive even after he's gone through his family. Rob thinks its very important for his family to be taken care of and he makes sure that there is always a good amount of inventory. He keeps a large inventory so he doesn't have to worry if money runs out and they can sell the inventory in the mean time until business picks back up. Marketing and financial considerations: The Peace Pipe uses many methods for their marketing strategy, they use Instagram, Facebook, radio commercials and word of mouth to distribute information about the business. Social media and radio time does lead to reaching many potential customers, however it may not spark the interest in customers that word of mouth can, hearing something over the radio or through social media does not mean you will actually go to the business advertising. Word of mouth is special since it usually involves someone telling the people they know about The Peace Pipe, when people hear about businesses from friends and family in a positive way they will most likely pay a visit to that business because they trust the person that is speaking. One trick Robert uses on his customers is to give away shirts, keychains, coozies, with peace pipe graphics that contain the store locations and phone numbers as well as free giveaways, that way the customers feel good about their visit to the store and plan on making it their go to spot for their smoke shop needs. These marketing methods are a great way to reach the masses and add more publicity to the business and in turn will bring in more profits and happy customers. The only financial statement Robert worry about each year is the income statement. The only reason he even has the income statement is for taxes which are due each year. The one thing Robert does do that is pretty smart is to keep track of the revenues of each store on a daily basis and document them for each individual day, this information is important when trying to track spending trends of our customers year in and year out. When patterns are found in the revenue records it helps Robert prepare for the next year as he has an idea of what to expect with past information, it also serves as a way to ensure your on track with last years sales. When current sales are not on par with past sales information it means the company is having declining sales. Robert’s gathering of each stores daily revenue records allows him to pinpoint which store is underperforming and needs to be considered for major changes or closing to try business else where. It also lets Robert clarify which stores are performing well or above average to send them more inventory or to give the employees bonuses for their excellent performance. Robert also does not keep any major financial statements besides a income statement, due to the fact that he has never created a balance sheet or cash flows statement, he does all the financials based on street smarts and understanding what must be bought and how much money is on hand. This business never has cash flow problems, the focus of spending is only on what is needed at the business and what can be afforded, overspending is kept to a minimum and stores are always kept full to prevent from having to make huge orders to fill an empty store. Whatever cannot be paid with cash or checks is charged to the owners credit cards which serves as a huge benefit, the ability to spend money you don't currently have gives you that many more chances to buy inventory and makes lots of profits. Credit cards may be charged at the beginning of the month, however Robert believes in his business to make the money back before the end of the month and pay the creditors back, a process which has always served him well and keeps him in business. Rob attempts to sell all his products on a 3x mark up price if his cost is $5 he will try to sell the product usually for $15, this method is smart since 1/3 of the price pays for the products cost and the other 2/3 of the price is all profit. The large mark up on the majority of products is also useful since it gives you room to haggle with customers if they are hesitant on buying, the retail price he charges can be lowered and the customers feels that much better about the purchase since they paid lower than the tagged price. Everyone would wish this mark up strategy would work on every product but it doesn't not even for Rob for example he sells a 5 pack of blunts for $1 and the cost is around 50 cents, a 24 pack of cream chargers costs him $5 and he only sells them for $10. Products that do not have a large profit margin are only kept in store if they are popular and have a very short turnover time, even though these products do not produce much profit since they sell in such large numbers it creates a large amount of the businesses revenue. The variety of products with their different profit margins add up whether he is making 3 times as much as he paid or not it allows him to stay in business and live comfortably. The Peace Pipe depends on a diverse advertising plan that consists of business cards, radio commercials, social media, search engine results and large signs at each businesses location. The Peace Pipe has large signs at each location to attract people that are driving nearby to stop and check out the store, the signs have the stores name and phone number information as well as a small list of products we offer. The business cards are handed out to potential customers as well as current customer, each card has the information for each location as well as products we offer, so that they are reminded that we have multiple locations and to help spread information about the store. Radio commercial time is paid by Robert to play Peace Pipe commercials on Wild 104.1 a popular local hip hop radio station, he does this in hopes of people hearing the commercial and going to the stores to become customers. Social media comes in to play with advertising through Facebook and Instagram, these are essential in reaching a large number of potential customers whether local or around the U.S, not to mention that social media is popular with all generations and is used by all the demographics. Social media allows The Peace Pipe to reach a greater number of customers without having to pay money since they are free to use. The Peace Pipe also gains advertisement through search engine results whenever someone searches smoke shops in the RGV they are included in the top of the results, this helps since majority of people use search engines to search for businesses. A website was recently created for The Peace Pipe (peacepipergv.com) and it includes virtual tours of each store’s location as well as information about the business and the products they sell. The website helps in that if anyone is ever curious about the business they can visit the website and get all the information they need to pay a visit to one of the stores locations, and since they offer a virtual tour customers already know what to expect before making a trip over. Advertisement is key to this business’s success and will continue to influence the popularity as well as overall performance of the business for years to come. Analysis of sources of funds and conclusion: When Robert originally started The Peace Pipe he had a partner that went half and half with him on the business venture. Robert used money he had saved from his window tinting company as well as a loan from his uncle to go half on the business. Many people believe partnering with some one will make business better but it doesn’t Robert bought off his partner after 2 years of business to solely own The Peace Pipe. Robert did technically use equity financing and debt financing when starting the business. When he went half and half with his former partner they each were going to own 50% of the company which meant half of the business was being funded by the partner. With the loan he received from his uncle that was debt financing since he only had to pay his uncle back the money and not give him any percentage of the company. When looking back am sure Robert would of not decided to be partners with the person who's name i cannot mention, since he ended up buying him out anyways. When opening locations of The Peace Pipe Robert is very picky about where he will open. He wants his stores to be located near areas that get a lot of traffic and are also near retail areas. When positioning businesses near areas with lots commerce it is great since it gives his businesses that much more of a chance to attract patrons to stop by and possibly make purchases, it serves as another form of advertising since many people will see the business. Robert not only wants his business locations to be near people but to be reasonably priced on rent as well. When finding the perfect price to rent retail space for its important to take into consideration how much of the revenue will be spent on rent, the higher the rent the less profits will be available. Robert currently rents 3 of his locations, but he owns the location on ware rd in mcallen, which is also one of the stores that makes the most revenue and has the best inventory since it is the headquarters of The Peace Pipe. Having multiple locations is key to reaching the maximum potential of your business, you are able to makes sales to many more people versus just 1 physical location. The organization culture at The Peace Pipe is friendly and welcome to accept any person. Employees are treated like friends and are not made felt like worthless pawns to generate revenue. The boss and workers are always joking around and have a good time, they drink beer together after 5PM to take the edge off and relax at work. However don't be fooled employees know that the boss is in charge and whatever he says must be understood and accomplished in order to keep their jobs. Once employees begin to slack and take their jobs for granted they are kept under close watch in consideration to be fired or given less hours to work. For the most part everyone is happy and problems rarely raise due to the owner any incompetencies are performed by the employees are are quickly fixed so that they do not affect business performance. This type of culture leaves space for employees to take advantage of the fact the owner isn't strict, could lead to employees slacking doing the minimum to get their pay checks. To avoid employees not doing all their duties Roberto pays all his workers at the end of every week in cash, in hopes that they will work hard since they get paid each week. Employees are also given the chance each day to meet a certain quota at each store to be given a bonus of $50 just for the single day, also serves as a motivator for employees to make more sales and generate more revenue for the businesses. The organizational culture is good but not perfect or great a policy must be set up in the future with rules so employees know exactly was is expected of them. When employees know what their exact duties and responsibilities are they will perform more effectively to accomplish them and impress management. Timeline 2003: Robert prepares to open business with a loan from his uncle and money he saved, as well as a partner splitting the business with him 2004: First year The Peace Pipe is open for business, with their home store located on Ware rd in Mcallen, Texas 2006: Robert buys off his partner to solely own the business, due to him not having the same vision of the company, the partner was also incarcerated which gave Robert even more of a reason to sole own the business. The Peace Pipe in Mission, Texas is first opened and is one of the few smoke shops in mission meaning a great amount of profit can be made. 2008: The Peace Pipe in weslaco is opened 2009: The peace pipe in Penitas, Texas is opened. The Peace pipes starts selling a product called herbal incense that is an instant hit and brings in tons of profits, these products are later to be know as synthetic marijuana. 2010: The Peace pipe on 10th street in mcallen first opens its doors and is currently the 5th location. Customers began to have a high demand for vaporizers both home and portable units. Customers also start demanding products that deal with concentrates such as oil rigs, wax containers, titanium nails etc. 2011: Customers start to have a very high demand for the natural sexual enhancement supplements we sell such as Erectman, Monster X, One more knight, Master zone and are bringing in profits. 2012: Government bans all synthetic marijuana herbal incense and does raids of all the smoke shops that sell it. The peace pipe is highly effected since the herbal incense were bringing in a large amount of profit that wasn't there before. 2013: Cream chargers start to sell a lot and bring in a large amount of revenue, even though they have a high cost ($5) and a low profit margin (we sell them for $10) they make up for a lot of the profits that were lost after the banning of synthetic marijuana. Robert is able to pay off his home and the location on ware rd, mostly from the money saved off of the herbal incense sales, Robert now has more assists under his belt 2014: The store in Penitas is closed due to its low declining sales, Robert believes he's better off using the money else where. 2015: Robert gets a 60 acre ranch with owner financing and buys some cows and tailer house to be at the ranch. 2016: Robert pays off ranch after one year and has even more collateral to use when seeking financing for forte purchases. Roberto did not have much when first starting the business and now says he has money to the point that he doesn't have to worry about whether he can afford what he wants, whatever he wants he is able to purchase now. Throughout the years Robert made many purchases including new vehicles and a second house, family vacations, and is able to enjoy all the leisures of life thanks to the risk he took in starting this business venture, . The business that Rob owns will constantly be under change and things could go from good to bad in an instant depending on what laws the government places in effect, not to mention the needs of this market are under constant change as well and inventory will always need to adjust to the market needs. References Roberto Mora SR (business owner), Oct 16 2016, Q&A interview Scarborough, N.M., & Cornwall, J.R. (2016). Essentials of entrepreneurship and small Business Management (8th ed.). London, England: Pearson Education.
Purchase answer to see full attachment
User generated content is uploaded by users for the purposes of learning and should be used following Studypool's honor code & terms of service.

Explanation & Answer

please find the attached file. i look forward to working with you again. good bye

Running head: ENTREPRENEUR CASE STUDY

HowAboutWe
Name
Tutor
Institution
Course
Date

1

ENTREPRENEUR CASE STUDY

2
Entrepreneur Case Study

Introduction
This case study focuses on Brian Schechter and Aaron Schildkrout Co-Founders of
HowAboutWe, an onlinecompany that was started in 2010with an intention to bring adults
together for dating. Both; Schechter and Schildkrout were working as tutors before coming up
with the company. Schildkrout was employed at Codman Academy a Charter Public School
located in Boston. In his previous work, he was able to come up with high-levelartwork that
featured in many publications. Schechter,on the other hand, grew up in Newton, MA. He shared
the neighborhood with Aaron Schildkrout. In his early adulthood, he spends his time in studying
about urban education, theology, and meditation. It is in his early 20s that he was busy
volunteering, teaching highschools and leading yoga around the world. At the age of 31, he
decided to intensify his passion for making a better living by commencing his idea about
HowAboutWe and later partnered with Schechter. The intention of this case study, therefore is to
delve into the reason why the two decided to set up the online dating site. In addition, assessment
of how the organization has been doing over the years, an overview of HowAboutWe, what the
business is and its performance, and how they did will be the focus center of this case study.
Further, Marketing and financial considerations will form the next phase of the case study. This
will give details of how the organization markets its business and the management of finances
and pricing of products. Finally, next phase of the case study will focus on the sources of funds,
and how the organization has managed to deal with changes in the marketand, resources,
products sold, employees/partners and the technological advancement of the organization.

Overview of the business:

ENTREPRENEUR CASE STUDY

3

HowAboutWe is an online company that offers dating platforms by meeting singles with
othersingles. The site offers access to interested people for free registration. Registration takes
place when an interested person fills in the form and developshis or her profile. The profile is
then hosted online where only registered people can access your information. Likewise, only
registered people are allowed to view other people’s profile with an intention of searching who
suits their interests. The site has the ability feature of matching one's recommendations and
specifications with a person with the same characters as sought. Once the match is made, the
matched couples are then redirected to another feature of the site that allows them to send and
receive text messages and other media like photos and songs. For a registered user to be allowed
for this feature, a fee of $7.99 per month is charged. This continued subscription is what keeps
the organization running. It is charged to both the couples.
Currently, the organization has a membership of 1.5 million users. In addition, the
organization offers services for dating couples with current registration for same standing at 0.8
million. The site is available across the United States of America and in 30 other countries across
the world. Further, the dating couple serves is only available in Seattle, Chicago, San Francisco
and, and Los Angeles. The organization has managed to raise $22.3 million in funding and has
full-time employees standing at 85 in number. Over the years, the organization has managed to
invest in other ventures and recently the organization has acquired Nerve. The nerve is an online
magazine which has been publishing only content related to love and love issues. In addition,
HowAboutWe has acquired Date Report and Swimmingly and it is currently planning to venture
into advertising.

ENTREPRENEUR CASE STUDY

4

Analysis of entrepreneurship intention:
Schechter and Schildkrout grew up in the same neighborhood, had similar career paths
but different means of achieving their passions. They both had a heart for modernizing the
current human theories and mode of doing things. Schechter had devoted much of his time to
spending and experiencing a good time. At the same time, he is an experienced tutor of yoga.
Schildkrout was focused on making better education for Americans. His main focus as a tutor
was to reform the entire American curriculum education to fit it into the ever-changing dynamics
and needs of students. They both had a zeal and strong passion to change the broken way of
living as they perceived it.
According to Schechter, there were no successful love stories that had taken effect aided
by online dating. He, therefore wanted to bridge the gap and mend the broken reputation of
online dating by developing an efficient site that could offer all that other sites did not offer. In
his mind, he knew Schildkrout had a great mind for assessment and his devotion to matching
American education better was commendable. Schechter knew that his idea was not complete
without total scrutiny and assessment from his childhood friend who had made himself a good
name. Pitching his idea to Schildkrout was received with great enthusiasm. Schildkrout added his
ideas to Schechter's and together they were on it.
The first reception was welcoming, and they had found something to do. With successful
marketing, they managed to grow a number of registered couples and the reputations of the
online dating were getting repaired. In addition, there were many people who never found time
to meet and spend money with actual dates, but HowAboutWe provided the best platform in
relation to price, convenience, and expediency. The growth of the company has paved way for

ENTREPRENEUR CASE STUDY...


Anonymous
Super useful! Studypool never disappoints.

Studypool
4.7
Trustpilot
4.5
Sitejabber
4.4

Related Tags