Sketching Out Business Opportunities by Alexander, Osterwalder - Essay Example

t is crucial to have the right choice of target consumers’ as they determine the profitability of the business. Another aspect the speaker highlighted is branding, which entails the appearance of the product. Branding sees to it that the products are appealing and eye-catching to consumers. The last thing the speaker highlighted is logistics, which will determine how the product reaches the consumer. Customers would prefer a product that is always at their disposal, and transport plays a significant role in ensuring that consumers have the product when they need them.
“Biggest Success is often Bred from Failures” video by Randy Komisar
The video by Komisar explains how the companies deal with the failures as this is what determines their survival. Komisar also explains that innovation is about taking the risk of what has not been done before so as to satisfy the ever-changing customer needs. Company’s which take risks, so as to satisfy customers’ have to be keener on the customer’s ever-changing products in the market.
“Leadership and Capability video” by Carly Fiorina
The video by Fiorina explains that leadership and skills comprise of three things, ability, character and collaboration. Ability is about the entrepreneurs’ skills and experiences that make them successful in their ventures. Fiorina explains how more skilled and experienced entrepreneurs will succeed in the business sphere. The most successful companies will always rely on more experienced and skilled personnel. The speaker also explains how the character of an entrepreneur is vital in running the business to make it successful. Good character will attract business in the company in a very short period hence promoting the good reputation of the companies’ name. Fiorina explains collaboration as the partnering of two entrepreneurs’ or companies with the intent of producing one or two commodities that will suit customers’ needs.
My Biggest Takeaway from the Videos
The biggest takeaway from the videos is the aspect of taking a risk in order to be successful as an entrepreneur.