Logan Howell ENT3003

)      Opportunity- There is a need in the world for safety. This need is shared by all people but is hard to come by in many regions of the world. Many people rely on other nations and foreign militaries for protection. This leaves them vulnerable to being politically  manipulated or simply abandoned during a time of need. In a world of highly technical weaponry, especially intercontinental ballistic missiles, it is necessary that people in countries with weaker militaries still have access to defensive measures against these weapons. This market is not incredibly clear to define but would include countries that feel threatened by the dictatorship of North Korea or highly combative Middle Eastern nations. It includes developed nations that do not have any form of missile defense capabilities and also those developing nations that rely on the United Nations or America for protection. This opportunity is huge but will require large amounts of resources and cooperation

     My exit strategy is to grow and maintain my company for about ten years or until a larger company makes me an offer I can’t refuse. The reason I plan to sell this company is because it is a massive international business that would require a lot of time abroad and would involve many deals with foreign nations. I would prefer to move on to a different style of business but I would also be interested in still maintaining ownership of the company and having new management with more experience in the field.      Not too many of my decisions would revolve around this exit strategy because I am focused on expansion and maintaining a quality product. Those two things would not change if I wanted to stay in the business for the long term. I didn’t really even consider what my end intentions were when thinking of the opportunity for missile defense so my business plan was not altered by exit strategy.

     Looking back at this semester in entrepreneurship and the work that I have done, I see the growth I have made in seeing opportunity in the world. I also think through ideas more quickly and can see if an idea will have any chance at being feasible. The experience that helped me the most was the interview processes. The feedback not only helped to formulate a business plan but led me to find out that something I thought would have a high demand really doesn’t. The interviews made me see that I need to better understand the consumer base in the market I want to target. I probably enjoyed the bug list the most actually. It was cool to see that an issue you can find a solution to is the start to many products. I definitely feel like I have gained a more entrepreneurial mindset and also have a stronger desire to run my own business.      In order to best foster the mind set of a rising entrepreneur and also be successful in this course, I would recommend to put in a