Timmons Entrepreneurship Framework - Essay Example

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 countrymen 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 needs. 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 specialists. Primary processing which involves the 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 their urgency therefore, air, inland or marine logistics are used.

Risk management departments are formed to deal with capturing, assessing and managing risk in all levels of the business chain. Last in the business model is trading and marketing which 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 these steps will give ensure Kalin’s company will be in the next phase of early-stage growth as they help better the company.

(Bygrave et al, 2011).  Potential investors will be concerned about several things in Kalin’s company. One of them will be what Kalin has learned from the competition. Since it is 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 concerned about the 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).