Entrepreneur

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Table of Contents 1. Introduction – ImageCafe2 2. Clarence Wooten’s Strengths and Weaknesses2 3. Product versus Service-Oriented Focus2 4. Feasibility Analysis2 5. Capital Funding3 6. Conclusion3 7. Introduction – Roxanne Quimby4 8. Idea versus Opportunity4 9. Burt’s Bees Success Story4 10. Relocation to North Carolina: The best solution? 5 11. Conclusion5 12. Introduction – Globant6 13. Globant Challenge6 14. Strengths & Weaknesses6 15. Industry Analysis6 16. Competitors Analysis7 17. Target Market7 18. Globant Industry Segments7 19. Conclusion7 20. Introduction – Indulgence Spa Products8 21. Family Business versus Family Enterprising8 22. Indulgence Issues8 23. Parent Company Concerns8 24. Growth Strategies9 25. Introduction – Quick Lube Franchise Corporation (QLFC)10 26. Super Lube Franchising Model10 27. QLFC Success and Growth10 28. Critical Issues10 29. Was QLFC Suit Justified? 11 30. QLFC/Huston “Summit” Episode 211 31. Bibliography12 Introduction – ImageCafe Clarence Wooten has been motivated to become an entrepreneur since young with a typical childhood dream to get rich. Following his strong academic and technical interests, he founded Envision Design, an award-winning 3-D animation company targeting architects. His second start-up, Metamorphosis Studios, a company that focus on special effects and multimedia presentations ended up in failure like the first venture as he morphed into his third, ImageCafe, a business that designed website templates that appeared to have been designed by high-end professionals. Clarence Wooten’s Strengths and Weaknesses With both of his parents being self-employed and a constant transitioning between homes, school systems and friends at a young age enabled him to become comfortable adapting to different situations in life. Clarence main strength was his high learning curve, accumulating extensive knowledge in computer graphics possessing creative design skills. Clarence was constantly on the lookout for opportunities and develops ideas, creating businesses to fill it as evidenced by the setting up of Envision Design and Metamorphosis Studios. However, Clarence failed to understand the difference between an opportunity and an idea, as to whether the idea fills a need and meets the criteria for an opportunity because an idea is a thought, an impression or a notion and may or may not meet the criteria of an opportunity (Barringer & Ireland, 2010: 67). The end-result was two-failed entrepreneurial efforts prior to ImageCafe but the effect characterized his ability to persevere through setbacks and failures, giving him a vital learning experience for the third (Barringer & Ireland, 2010: 36). Product versus Service-Oriented Focus By going to a product-oriented service, he understood the two most important elements in any businesses, which are products and customers. While it’s important to think about management, finance, marketing and the like, none f these functions make any difference if a firm does not have good products with the capability to satisfy a wide audience of potential customers (Barringer & Ireland, 2010: 36). It is inevitable in service-oriented business model to encounter payment and commitment problems as in any other industries because service-orientation means supporting customers’ activities and processes, resulting in overlapping service production and consumption where the most important characteristic of services is their process nature and the interaction between provider and customer in the service process (Erwin,

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