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Malincho - Essay Example

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It involves the process of creation and recognition of the chances followed by initiative to take over these chances. It requires risk…
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Malincho
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Malincho Introduction Timmons entrepreneurship framework is a model where key forces are entrepreneurial team, the founder, realizing the opportunity and the needed resources to commence a business.
Entrepreneurship leads in the enhancement, creation, renewal and realization of value for stakeholders, participants and also from the owner. It involves the process of creation and recognition of the chances followed by initiative to take over these chances. It requires risk taking both financial and personal in a strategized manner to constantly maximize the potential reward. In Timmons model entrepreneurs’ create businesses from zero, recreate or look for opportunities that can be shaped successfully commercially (Minniti et al, 2006).
Kalin shows entrepreneurial skills as he creates cheeses business from scratch. Kalin has no capital to start a business but still has the willingness to make it in the commercial world. In Kalin’s case he creates the business from scratch. Opportunity recognition is the next step in the entrepreneur process. Kalin is seen as a person who recognized opportunities that can be used to generate profits. His research shows him that importing fate cheese from his home to sell to his country men would be a great idea. Resources are key factors in entrepreneurship Kalin seeks resources in the most convenient way so as to avoid interests. As seen he tries out a wine guy to see if e could get the resources he need. However, the deal with the wine guy did not succeed. Thereafter he gets the resources from his friends; this is convenient as no extra charges were to be incurred in the repayments. Eventually Kalin is successful in his business idea as he uses Timmons entrepreneur framework model process (Collins, 1998).
The business model available for food import business involves; sourcing, primary processing, logistics, risk management and trading and marketing. Sourcing involves building a relationship with stakeholders and farmers and using a network of local Agent agronomists, buyers and other specialist. Primary processing which involves packaging of the product is the next step after sourcing. In this model primary sourcing is followed by logistics. Logistics depends on the products and its urgency therefore, air, inland or marine logistics are used. Risk management department are formed to deal with capturing, assessing and managing risk in all levels of business chain. Last in the business model is trading and marketing this deals with the market.
In order for Kalin to position his business for the next phase of early stage growth he should assess his company efficiency, review his financial position, form a business model for the company, conduct a competitor, customer and market analysis. Following this steps will give the ensure Kalin’s company will be in the next phrase of early stage growth as they help better the company. (Bygrave et al, 2011).
  Potential investor will be concern about several things in Kalin’s company. One of them will be what Kalin has learned from the competition. Since it assumed by most investors that businesses have competitors potential investors will want to know how Kalin has handled the competition. This will determine if they will invest in the business or not. Another concern will be the risk factors in the business. Investors will want to know the risks in the business and how Kalin tackles them. One of the risk factors in the cheese import business will be delays that can lead to spoilage of the cheese. The market availability and opportunity will also be a concern to potential investors. Kalin mostly sells cheese to people from Bulgarian. Potential investors will be concern on availability of the market as investing in the business will mean more cheese imports. Lastly potential investors will want to know how Kalin is qualified in handling the food import business. No investor wants to invest in a business that does not have qualified personnel (Bygrave et al, 2011).
References
Bygrave, W. D., & Zacharakis, A. (2011). Entrepreneurship. New York: John Wiley and Sons,
Collins, S. M. (1998). Imports, exports, and the American worker. Washington, D.C.: Brookings
Institution Press.
Minniti, M., Zacharakis, A., & Spinelli, S. (2006). Entrepreneurship: The Engine of Growth.
New York: Greenwood Publishing Group. Read More
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