A journey to entrepreneurship: Converting a dream into reality - A case study

Abstract

Abstract. Owning one’s own business is the realization of the dreams of many ambitious young men and women. However, business ownership has its rewards and challenges. The rewards are often financial and non-financial. It is one of the best means of wealth creation, but it can be a big disappointment and could have disastrous consequences if the entrepreneur chooses the wrong product/service, does not prepare a complete and realistic business plan, or is not adequately prepared to react to unanticipated difficulties and challenges. The subject in this case, Uchechi Tatsa, is contemplating starting an import business, and trying to prepare the necessary plans that would be appealing enough to a venture capital firm to provide needed seed money.  Thus, this case focuses on the planning phase in entrepreneurships, and the ability of a young entrepreneur, with no prior business experience, to create and run a new venture. It is written for potential entrepreneurs and students in Entrepreneurship and introductory business classes.

Keywords. Entrepreneurship, The business plan, The business concept, Venture capital, Profit margin, Return on investment (ROI).

JEL. F23, G18, G38.