Reflecting on Being First-Time Applicant - Assignment Example

The fact is that success and failure both are part of life and the real achievement is to acquire positive spirit and lessons from both accomplishments and non-performance.  The failure of my entrepreneurial trials in terms of the strategy was an eye-opener for me. The first of my entrepreneurial efforts was to build the earliest online computer game platform and to eventually get it enlisted in NASDAQ as a public entity. The computer game platform though was established efficiently, couldn’t sustain as the whole business plan lacked a strategic approach.

However, the project didn’t turn out to be a financial failure as the game platform could be sold out for RMB 500,000. My second effort to establish a business also turned out to be a strategic failure. The vision behind co-founding the earliest Social Network website of China was the tremendous market scope and the credit of being one of the pioneers in the field. But I lacked the fund-raising skills which prevented the continuity of the project as it ran out of funds. Finally, the website had to be sold out for $ 3 million.

Though both the ventures were saved out bankruptcy through good sale out the price, the efforts in totality were counted as professional failures.Realizing the lacunas I had as a business developer and a strategy builder, I decided to join Yahoo to bridge these gulfs and to acquire the skills to develop a firm that can succeed and last. In my tenure at Yahoo, I could develop leadership and strategic thinking while building working teams and new business lines in American, Taiwan, and Mainland China.

I realized that during my first two trials to establish business models, my thought process was stuck within the technology box and this was limiting the diversity and range of the planning process. This left many of the integral areas of the business unexplored. These extensive experiences and realizations empowered me to design an exclusive entrepreneurship plan aiming to develop an artwork auction website under the Social Networking Services model.