Case study: summary and prediction - Essay Example

Case Summary And Prediction Case Summary And Prediction Case Summary The case d “When Your First Company Is Working, But Another Is Beckoning: was authored by Julie Weed (Weed, 2013). In this case the author focuses on two entrepreneurs and their pursuit of running two businesses at the same time. The entrepreneurs have developed software which helps businesses in identifying sales leads and after the sales leads have been identified the sales team of businesses tries to change the leads into customers.

At the same time they already have a successfully running company that creates social media campaigns for companies that are offering products as well as media enterprises. The first issue that the entrepreneurs are experiencing is that they need finance to fund the new software and the company. The second issue is that they do not have enough time to devote to both the companies at the same time. The entrepreneurs have three solutions at their disposal. The first option is to provide all of the time as well as the effort in developing the social media campaign developing company and increase its growth.

The second option is to close Uptown Treehouse and devote all the time and effort in raising funds to develop the new company. The last option is to hire a manager and give him the control of the operations of Uptown Treehouse and the earnings from the company can be used to invest in Socedo and at the same time the entrepreneur will devote most of his time to the development of the new company.Case Prediction One of the most important qualities that an entrepreneur should have is the ability to trust others and delegate work to others.

The best option available to the entrepreneur and the route that the entrepreneur is most likely to opt for is that he will hire a manager for the operations of Uptown Treehouse. By hiring the manager he should not only assign the manager with the responsibility, he should even assign them the authority to make decisions so necessary decisions are not delayed. At the same time he should keep a close watch on the operations of Uptown Treehouse. After hiring a general manager for Uptown, the entrepreneur will have enough time to develop the new company through the finances of the already developed one.

This does not mean all the financial resources should be devoted to the new company and a balance should be reached. Pursing the new company along with the old one will help the entrepreneur in removing the competition that is developing similar products such as the software being developed by Socedo. This is because the entrepreneur will have a competitive advantage over the competitors. The entrepreneur will have a competitive advantage because he will not only be providing sales lead to businesses, he will even provide social media marketing to these companies.

It is highly likely that those organizations that are already obtaining services from Uptown will even become interested in the software provided by Socedo and this will end up in a successful endeavor.ReferencesWeed, J. (2013). Log In - The New York Times. Nytimes.com. Retrieved 27 July 2014, from http://www.nytimes.com/2013/05/30/business/smallbusiness/when-your-first-company-is-working-but-you-may-have-a-better-idea.html?pagewanted=1&_r=0