Fine Wine Case Study
He begun by creating a situation where he observed and did while working as an employee, then he figured out how to do it by himself and for himself. This means of creating self-employment mindset.
He created Job based on his experience, distribution of wine product/ service he knew already as well as tried to learn more from it as writing a book on wines and do more research on the Italian things. Those helped him to strike out In a deferent direction and Into unfamiliar territory, putting him Into a position of learning, being open-minded, and trying to find support from relatives for Minimal starting up.
While starting his own business, Alexander had very strong willed and commitment to run It by doing all things by his own Including low bevel works (mopping floors and delivery goods then keeping extension of his networking with wine producers in Europe and California. It is also important for an entrepreneur on continuous self motivation for own business in order to keep interest for a long run. Alexander had all this, he had ambitious and passion on his work and also make fun with what he’s doing, that would help him to always attract by his work and never bore with that.
How have Alexander background experiences and personality contributed to his pursuit of this business? Do you think that this Is a good approach for other potential entrepreneurs? Why or why not? As mentioned above, Alexander Job creation based on his experiences of wine distribution and his research on wines, with his strong personality of creative, intuitive, self-motivated (passion and being happy networking, strong-willed and commitment. He also evaluated the entire business system from a new and fresh perspective. Those contributed a lot to create a new business and lead to a success entrepreneur in the future.
What having learnt from Alexander business creation and his personal characteristic could consider as good approach for any potential entrepreneurs to adapt for own improvement.
To be a success entrepreneur, there is a need to have business mindset (vision/dream), creative Ideas by creating own path with own Intelligence, dare to take opportunities and risks, understand how fast current trends change for own business, learn very quickly who need to network with, continuous commitment to own business, self motivated and controlled on running own business, get support from others and value costumers.
Ill 1000 Alexander Keeps allaying to Nils “passion” Tort all n nags tall. Is passion an important factor in entrepreneurship? Explain. Alexander passion for all things Italian drives him to make decision and starts his business/investment with little money which was reflected to his strong emotionally in it. Some people believe that if they have a passion and commitment to a business, this is enough to get them started it with their own way.
Although passion and talent are important factors in creating business performance but, of course, they are not the only ones.
The work also needs to be staged, marketed and presented to an audience, and this is where core business skills come in such as project management and the ability to understand the market place and an awareness of their commercial environment (e. G. , analysis of the business environment, political and relevant government issue, socio-economic situation, technology, opportunities, etc).
So it is also important that the entrepreneur need to self-identify as professionals, with principles of entrepreneurial and production skills as well as emotional commitment to their work. It was stated clearly in the case of Alexander, he was also interested on wines from other countries, not only focus on Italian things, e.
G. , his relationship with wines makers in Europe and California.