• Last weekend, I was thinking about all the challenges I am going to face as an entrepreneur... There will be many! So I decided to compile a list including the four main ones I struggled with. There are many more challenges I can see coming, but I didn’t want to overwhelm you or make you feel discouraged. I do like to be prepared. I think that knowing and thinking about these challenges is much better than being surprised by them later. (Even though you and I will always face many surprises in entrepreneurship, regardless of how much we prepare.)  1. Financing One of the... Read More
  • Are you interested in the entrepreneurship world but don’t really have any specific business ideas? Then you and I are in the same boat! One of the first steps you could take would be to research a specific industry further. This could go along with your interests, or you could focus on some sectors that professionals say are likely to become even bigger over the next few years. The following three are the ones that I personally found really interesting, and I am going to think about more: Pet care ... is valued at $60 billion in the U.S. This sector's revenue was almost... Read More
  • School and society as a whole want us to believe that, in order to succeed or get what you want, you must assiduously attend to whatever work is put in front of you and otherwise submit to someone else’s course. That means always doing your homework, putting everything into your job, getting involved in your community however you can . . . the list goes on. This is a mindset that’s pounded into our heads from the moment we start preschool. You want to go play in the sandbox? Well, Jimmy, you have to learn your ABCs first! It makes sense too. It’s a productive mentality... Read More
  • So, you have a business idea and have decided that you need one or more co-founders? Do you know that 62% of startups fail due to the founding team having issues? Now, how do you pick the right person, and what should you and I be looking for? It turns out professionals agree that there are at least four things we should consider when looking for a co-founder: Don’t pick someone who is just like you: Ideally, it would be best if you could find someone whose skills complement yours. Someone who has the exact same strengths and weaknesses as you wouldn’t really be... Read More
  • Many successful entrepreneurs say the success of their startup not only depended on the idea and their management, but mostly on the team they formed. Reid Hoffman said, “No matter how brilliant your mind or strategy, if you’re playing a solo game, you’ll always lose out to a team.” This makes it quite clear that forming the right team is the first step to building a strong and sustainable company. So how does one build a right time and make the decision of which people to hire and which ones not to? First of all, you (and your co-founders) should have a very honest... Read More
  • Do you want to be that person who is calm in a crisis (like during stressful midterms) and manages to make clearly prioritized decisions (regarding their study plans)? Then you want to be a person who is emotionally intelligent! “Emotional intelligence, more than any other factor, more than IQ or expertise, accounts for 85% to 90% of success at work … IQ is a threshold competence. You need it, but it doesn’t make you a star. Emotional Intelligence can.” (Warren Bennis - American scholar, consultant, and author) While doing some research for one of my classes this... Read More
  • As John C. Maxwell once said, “A leader is one who knows the way, goes the way and shows the way.” Leadership and Entrepreneurship go hand in hand. As an entrepreneur and as a leader, you are setting an example for others to follow, and are trying to surround yourself with capable people to make your business more successful. As someone who is thinking about opening their own business, you need to make sure that you have the qualities it takes to be a good leader.  If you are someone like me, then you like to make plans, are focused, and think of yourself as someone who... Read More
  • Last weekend, while being stuck inside due to another one of New England’s wonderful snowstorms, I read an article, which discussed women in entrepreneurship. One quote really stuck with me: “2016 will be the year in which the forces of entrepreneurialism and feminism converge,” writes Sallie Krawcheck, CEO of Ellevest and chairman of Ellevate. “Together, they will drive a long-wave, golden age of female entrepreneurship, which will be a positive for all of us: positive and empowering for the women who make the leap, good for the economy, good for consumers, and good for... Read More
  • Hey, there! Welcome back to Entrepreneurship Explorations! This week, I am discussing if personality actually matters when it comes to entrepreneurship. Entrepreneurs are thought of as risk-takers but sometimes I personally prefer to take the safe route and plan ahead, rather than jumping into the unknown with both feet. As Reid Hoffman, an entrepreneur, venture capitalist, and the co-founder of LinkedIn, once said: "An entrepreneur is someone who jumps off a cliff and builds a plane on the way down." This makes me wonder; will my cautiousness actually make me less likely... Read More
  • Hello, Commonwealth Honors College, UMass Community, and everyone else in the world! I, Anastasia, am one of the new bloggers for HonorsInSight and I am really excited to be sharing some of my thoughts with you this semester! First, let me tell you a little bit about myself: I am a Management major with a focus on Entrepreneurship and Innovation Management at Isenberg and a member of the Commonwealth Honors College. I was born and raised in Germany and moved to the U.S. about five years ago. As a transfer student, I am now in my second semester here at UMass and feel... Read More