Welcome to the ventureBiTS journey!

As part of an Advanced Seminar in Entrepreneurial Strategies and Finance, 21 students from BiTS in Iserlohn, Germany have journeyed to Chicago. They will spend the month of July, 2014 exploring the city and their own entrepreneurial capacity. In this blog, they will reflect on what they are learning and experiencing during their time here.

Sunday, July 13, 2014

My reflective Blog



Through completing the exercise of writing my Personal Business Model Canvas I realized by asking other team members and instructors that people think I am very trustworthy. I find that interesting because I never thought about that deeply. But now that I look about it from a third person perspective I think that I would never betray some good college or friend.

Also, through eliminating things that I cannot do, e.g. science or arts, I narrowed down my competencies to only a few. Most importantly, I am very good at analyzing practical problems and optimize them. This can be very helpful for finding out my future career path and using my skills as good as possible in any business situation.

When it comes to points that I wrote down in my Business Model Canvas which I always felt were true, the most important one is that I mostly help through advising people in every possible life situation. For example, when it comes to taxes, spending money or doing work, I always try to point out the best possibilities, and show pros and cons of the ideas of my friends or family. This is again an important sign that my future career path needs to have to do something with consulting.

Through completing my Business Model Canvas I realized that my “Customer Relationships” needs to improve. I mostly use face-to-face contact as interaction and only use some E-mails. What is mostly missing is a professional and well filled social media profile on Linked-in or Xing of myself through that interested companies or headhunters can find me more quickly.

Also, for changes I want to make to myself, I would like to become more communicative and service-oriented. I realized this because I found it not easy to write down many positive key activities of myself. I know that I am good at solving financial and managerial problems, but I also need to communicate that superbly in order to be really convincing and successful in my career.

Comparing myself to one business leader that is like me is tough because I know that I am still at my very beginning of my career and my skills are only a little bit developed. But I think that I am a little bit like Warren Buffett. For example there are the following three leadership qualities Warren Buffett has[1]: First of all he is very frugal. Even if he is nearly the richest man in the world Warren Buffett would never waist any money and use his assets very cost effectively. I personally think that I am very similar to that. I don’t like wasting any kind of things and I also try to buy goods in a very rational manner, so that I only focus on cost and benefit and not on emotions.

Second, Buffett is a very humble person. He would never brag about his achievements, and he spends much of his money to charity[2]. Even if the second point is not true for me (at the moment!), I think that I will give a notable amount of my money for a good case the more money I will make in the future. 

And third, Buffett is very patient which is underlined by his very long term stock investments. This is close to my personality, because I also try to invest in a very long term manner and without wanting to beat the market. Also for homework and projects I tend to be patient, though I still see some room of improvement in this area.


[1] http://www.centerforworklife.com/warren-buffetts-leadership-qualities/
http://www.leadership-with-you.com/warren-buffet-leadership.html
[2] http://sites.psu.edu/leadership/2013/06/27/warren-buffett-as-a-model-of-authentic-leadershp/

No comments:

Post a Comment