While in graduate school, Dave had become friendly with a fellow student who was interested in developing and marketing software that could be used to help control production operations. Dave had been intrigued with the prospects for the software, especially because he saw its potential application at Xtel Corporation. Dave decided to give his friend a call to see what progress she had made. Dave also sought the advice of one of his neighbors who had experience in financing business start-ups. Working part-time on nights and weekends, Dave and his partners were able to finalize the software and put together a realistic business plan. They sought and received financing for their venture from a local commercial bank. Once they lined up their first client, Dave felt confident enough to resign from his position at Xtel Corporation. The resignation was tendered with mixed emotions. He felt a sense of gratitude and loyalty to Xtel for the financial and educational support they had given him, but he was also disturbed by the treatment he received during the latter part of his career.
In any event, Dave is enthusiastic about his prospects as an entrepreneur. He is confident that he and his partners have tapped into a potentially lucrative market. He is strongly motivated to make the venture succeed and achieve financial security for his family.
Case Analysis Questions:
- Given his many years in an organizational career with a large corporation, do you think that Dave will be in for a rude awakening now that he has become an entrepreneur? Why or why not? What differences in experiences do you think he will encounter in his entrepreneurial career as opposed to his organizational career?
- What qualities does Dave have that will help him in his entrepreneurial venture? Does Dave have any shortcomings that might limit his success as an entrepreneur?
- Now that Dave has embarked on an entrepreneurial career, to whom should he turn for personal and professional support, advice, and assistance?