Week 2 Reading Reflection

1) What was the biggest surprise for you in the reading? In other words, what did you read that stood out the most as different from your expectations? 

The biggest surprise for me in the reading was to learn that the statement "most small firms fail within the first year" was incorrect and is actually "about half of all the firms fail within the first five to seven years." This is interesting because I have always known and seen it as if you can make it past the first year or two, then you are set. I didn't realize there was such a large time frame in which it was very likely to fail as a small firm, let alone a firm in general.

2) Identify at least one part of the reading that was confusing to you.

The most confusing thing that I found in the reading was the topic on Dynamic States Approach.

3) If you were able to ask two questions to the author, what would you ask? Why?

First question would be: Do you think it is wise for up and coming entrepreneurs to know the myths in the world of entrepreneurship? Would it be wiser for them to discover things on their own rather than become complacent as a result of a false sense of security? I feel that entrepreneurs would do best when discovering things on their own rather than being told that it isn't the case that they will fail within the first year.

Second question: Why do you think that the constant growth of the entrepreneurship world will be helpful to us as a society? Would the sudden flood of people, a good portion of which who don't know what they are doing, instead harm us? I feel that having so many inexperienced users acquiring capital and attempting to run a business could be harmful in the long run.

4) Was there anything you think the author was wrong about? Where do you disagree with what she or he said? How?

I didn't find anything that I really disagreed with. Most of it seemed pretty accurate and straightforward.