Case Study
Jim Poss Case Study
1.An opportunity for entrepreneurship is found when trying to solve a common problem. Over time Mr.Poss noticed an issue with our waste management claiming that dump trucks were using up to much petroleum ( a resource that is in high demand all around the world). His plan was to invent a Solar Powered trash compactor that would be more enviormentally safe and efficient.The goal was to adopt an environmentally friendly methods of power generation by designing products which are cheaper and more efficient than twentieth-century technologies.. Notice how Poss began with a problem he experienced directly in his life opportunities within the context of who he is, what he knew, and who he knew, linked that concern to his expertise in solar technology, and then connected his ideas with others
2. Mr.Poss’s Seahorse Power Company (SPC) did not have many resources to begin with.He used what he was given and worked with what he had to create his business plan.His first resources were money from his Babson College Hatcherie Program,friends,family and his own personal saving. In order to raise funds I would've took more time to actually figure out how he was going to build the device before actually marketing it and then propose it to more investors. I do think the idea is good and i would invest if given the opportunity.
3. Jim's decision to accept the order from the Ski resort was risky but a smart one, this was an exceptional and irreplaceable opportunity,: the fact that a business(in trouble) was willing to invest in a device without even being able to test it beforehand is an accomplishment on its own, but the fact that its developer wasn't even sure how to actually build it, was an even greater surprise.After such success with the ski resort i would've continuesd to market my idea to waste management companies, colleges,universities,smalll cities,towns,events,fundraisers and conventions.
1.An opportunity for entrepreneurship is found when trying to solve a common problem. Over time Mr.Poss noticed an issue with our waste management claiming that dump trucks were using up to much petroleum ( a resource that is in high demand all around the world). His plan was to invent a Solar Powered trash compactor that would be more enviormentally safe and efficient.The goal was to adopt an environmentally friendly methods of power generation by designing products which are cheaper and more efficient than twentieth-century technologies.. Notice how Poss began with a problem he experienced directly in his life opportunities within the context of who he is, what he knew, and who he knew, linked that concern to his expertise in solar technology, and then connected his ideas with others
2. Mr.Poss’s Seahorse Power Company (SPC) did not have many resources to begin with.He used what he was given and worked with what he had to create his business plan.His first resources were money from his Babson College Hatcherie Program,friends,family and his own personal saving. In order to raise funds I would've took more time to actually figure out how he was going to build the device before actually marketing it and then propose it to more investors. I do think the idea is good and i would invest if given the opportunity.
3. Jim's decision to accept the order from the Ski resort was risky but a smart one, this was an exceptional and irreplaceable opportunity,: the fact that a business(in trouble) was willing to invest in a device without even being able to test it beforehand is an accomplishment on its own, but the fact that its developer wasn't even sure how to actually build it, was an even greater surprise.After such success with the ski resort i would've continuesd to market my idea to waste management companies, colleges,universities,smalll cities,towns,events,fundraisers and conventions.