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

Reflective thinking and writing – me, myself and I

The Personal Business Model Canvas helped me to understand my interests and strengths. The Model enabled me to get a new picture about myself and about attitudes influencing my way of life. This visual and hands-on tool underlines clearly and summarizes my value, skills and purpose in career and life. The model in general and the given examples in the book “Business Model You” inspired me to think in detail about my surrounding. In this manner I gained deep information about myself that were unconscious to me. In particular I received unknown information about “how I interact” and “what I get”. My interaction is face-to-face and via phone, mail and other multimedia channels, especially Facebook, Twitter, Skype and Xing. It was not clear to me that I interact in daily life so much over multimedia channels. Mainly I use Xing to follow business discussions, get in contact with people who have the same interests and share news. The Personal Business Model highlighted this spot.

The canvas exercise confirmed that my revenue and benefits eminently are salary, jobs, motivation, satisfaction, fun and motivation. I always felt true that these are the key benefits I get. The canvas exercise had added discussions a new benefit.

http://www.christinethompson-blog.com/wp-content/uploads/2012/06/Business-Model-You-canvas-concept.jpg
After I did the canvas exercise in class and in particular the wheel of life exercise at home identified fields which I want to pay more attention in future. Orientation has changed more to the areas of “health” and “family & friends” and less to “career” and “travel”. The importance and responsibility of health, also in view of my family, I realized. I ranked “health” first to live in a responsible and contented way. Areas like career and travel have not concerned me in the way I thought.

For me, there are several characteristics a business leader should have. It is important to point them out before I am able to describe a leader who I most like. Characteristics of great leaders are being flexible, being able to communicate, have courage and patience and being responsible. A business leader in my point of view must be especially efficient in determining the company’s destination and emphasize the value of the company’s customers.[1]

A person who especially fascinates me in terms of idea generation, implementation, corporate governance and willpower is Carl Icahn. He lives in New York, United States, and is 78 years old and famous for trading large stakes in major companies and hostile takeovers.[2] Icahn’s career began at the New York Stock Exchange as a stockbroker. After a few years he formed his own company which focuses on risk arbitrage and options trading. In my point of view Icahn has the best ability at seeing the value of companies others had overlooked.[3] He is a brilliant example of courage and hard work. He achieves the American dream.

"We're not about liquidating companies, but if you do that, why is that terrible? We're not blowing up the factories. The person who buys it should be able to make the asset more productive."[4]

http://www.forbes.com/sites/briansolomon/2014/01/28/carl-icahn-who-cant-stop-buying-apple-just-bought-500-million-more/
I am, as a finance person, totally amazed about Icahn’s career, way of live and fighting from a small stockbroker to a CEO of one of the biggest enterprises in America. He always focused on his goal and did not lose track at anytime. I am really impressed about his high motivation to achieve changes in management of major companies he has large stakes of and force them to improve their performance.

"We're not about liquidating companies, but if you do that, why is that terrible? We're not blowing up the factories. The person who buys it should be able to make the asset more productive."[5]


In many cases in the past, I followed his ideas belong to trade stocks. As mentioned I am of the opinion that my personal skills are quite like the skills of Carl Icahn. To sum up, Icahn represents a role model for me, both to guide its kind business and his daily life. I orient myself in many situations at him and scrutinize how situations were solved by him.



[1] http://www.fastcompany.com/3004914/5-characteristics-great-leaders
[2] http://www.economist.com/topics/carl-icahn
[3] http://www.cnn.com/2005/US/02/28/cnn25.top.business/
[4] Carl Icahn
[5] Carl Icahn

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