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Wednesday, January 25, 2012

Analysis

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Self Assessment


The scripting assignment has been a great opportunity for me to find out my overall mental scripts of how I can put an idea into action. Each assignment that I have finished has given me a better opportunity of recognizing different aspects of my script. Whether it is areas that I excel at or areas that I need to work on, however the most important part that I can take out of my script is the ongoing process through life that I will continue to make changes to my thinking habits in order for something to work.


The first assignment of finishing my script gave me the chance to fill out the process that I take for my scripting process. I did not have as great understanding as I do now on my script because the majority of my own ideas came in the idea formulation and screening process and I did not really have an idea of how to make scripts for planning/finance, startup, setup process, and ongoing operations. However through the later assignments I started to get a better understanding of coming up with scripts. I find it interesting that I still go back to my childhood ways of coming up with ideas by having a strong interest in something and can I improve on it.


The next part of the scripting assignment was to read the Wayne Brown Institute assignment and to revise your scripts. The Wayne Brown Institute Assignment gave me an idea how Venture Capitalist see potentials clients and how they weed out the good investments and the bad investments. The WBI Assignment allowed me to have a better understanding of how VC have a step by step process of analyzing how a good idea can prosper. After reading the assignment I made lots of changes to my own script.


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Examples that I attached to my second version script were dealing with suppliers and other stakeholders in making sure a successful venture can happen. The WBI was extremely helpful for the latter parts of my personal scripts where I did not have as much exposure.


The third script was the mentor’s script. I had trouble dealing with this one because first I have three people that I consider my mentors and one is unavailable, and the other two did not qualify for the qualifications that is set out by the guidelines of having started up three business. However I did have an uncle who has started up numerous businesses so his input to my script was very important. As a result of the third script I have made a couple changes to my overall script however the majority of the interview I learned more about out his views on how to deal with people. It was very interesting because he stated some of the same points that Peter Thomas stated on what he looks for in starting up a successful business. The part that I found most interesting was he stated that people are the most important part. As a result of this topic I have made changes to my third version script and put in more parts that deal with communication, coordination parts of startup a business. As well I learnt that my mentor had dealt with lots of industry experience in his scripts, which I incorporated into my scripts


Overall I have learnt a lot about my scripts. Scripting is very important to me because it gives me an outline of dealing with ideas and putting them into action. The only question that I do have about scripts is I have not put an idea into action on my own accord yet. However through my revisions of the scripts and my mentor’s scripts, and the guest speakers that have come to our class I have made an analysis on these people on how to come up with a good overall script. However I believe in life that not every thing works for everyone and different ways of thinking and doing things work for some people and not others. So even though I have written down start-up, set-up, scripts and so on, I am almost positive that I will be changing them when I put my own ideas into action. However as of now it does give me a good idea of how to put an idea into action, which is the purpose of every entrepreneur.





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