Mr. Carney was able to remain debt free.
Later down the line more problems would arise as the development of FlexiBake continued. A new competitor arose and joined the market. The competitor was known as Bake Smart. Bake smart emerged with a product that offered some features that Mr. Carney had not added to his FlexiBake software yet. Not only was there a new competitor, it came to Mr. Carney’s attention that FlexiBake was hacked by a Chinese company. That Chinese company then began to release free tutorials on how to create and duplicate the software developed by Mr. Carney. These tutorials could have been detrimental to the company if they were not taken down as soon as they were. This had potentially lead to an unfortunate loss of customers. …show more content…
He showed us that being/becoming an entrepreneur isn’t an easy task. It takes a lot of planning and dedication to make what you want in a business to come into reality or else it would fail. There is always that saying: “Failures don 't plan to fail; they fail to plan” (Mackay, n.d.). Carney also taught us that don’t listen to every negative comment and take it to heart. He said “close your ears and power on,” meaning when things are down don’t give up (Carney, 2014). He showed us that a lot of hardships and difficult times can come from being an entrepreneur; it is risky. Previously mentioned he started Afcom back in 1994, when it failed he didn’t fail, he got right back into it with the creation of FlexiBake. Secondly, we should always be open to learning new things. He told us that one of his life lessons is to “never stop learning” (Carney, 2014). Always be innovative, creative and engage in lifelong learning” (Carney, 2014). People never know when their interest will spike into something and that something becoming their new passion. With the world as it is now, always changing, constantly learning is the key to adapt to how things are progressing along. Last but not least, have balance in life with both business life and the personal life at home. Relationships are definitely strained while starting up and running your own business, an entrepreneur must sacrifice a lot of his/her personal life for the business. Looking at the interview as a whole rather than just the answers Carney gave us to this interview question, we have also learned other attributes that contribute to a successful entrepreneur. We must enjoy what we are doing, predict technological and industry trends, manage our money wisely and build a strong business team. It became apparent these qualities are important after analyzing no only Carney’s business’ strengths but the weaknesses,
Later down the line more problems would arise as the development of FlexiBake continued. A new competitor arose and joined the market. The competitor was known as Bake Smart. Bake smart emerged with a product that offered some features that Mr. Carney had not added to his FlexiBake software yet. Not only was there a new competitor, it came to Mr. Carney’s attention that FlexiBake was hacked by a Chinese company. That Chinese company then began to release free tutorials on how to create and duplicate the software developed by Mr. Carney. These tutorials could have been detrimental to the company if they were not taken down as soon as they were. This had potentially lead to an unfortunate loss of customers. …show more content…
He showed us that being/becoming an entrepreneur isn’t an easy task. It takes a lot of planning and dedication to make what you want in a business to come into reality or else it would fail. There is always that saying: “Failures don 't plan to fail; they fail to plan” (Mackay, n.d.). Carney also taught us that don’t listen to every negative comment and take it to heart. He said “close your ears and power on,” meaning when things are down don’t give up (Carney, 2014). He showed us that a lot of hardships and difficult times can come from being an entrepreneur; it is risky. Previously mentioned he started Afcom back in 1994, when it failed he didn’t fail, he got right back into it with the creation of FlexiBake. Secondly, we should always be open to learning new things. He told us that one of his life lessons is to “never stop learning” (Carney, 2014). Always be innovative, creative and engage in lifelong learning” (Carney, 2014). People never know when their interest will spike into something and that something becoming their new passion. With the world as it is now, always changing, constantly learning is the key to adapt to how things are progressing along. Last but not least, have balance in life with both business life and the personal life at home. Relationships are definitely strained while starting up and running your own business, an entrepreneur must sacrifice a lot of his/her personal life for the business. Looking at the interview as a whole rather than just the answers Carney gave us to this interview question, we have also learned other attributes that contribute to a successful entrepreneur. We must enjoy what we are doing, predict technological and industry trends, manage our money wisely and build a strong business team. It became apparent these qualities are important after analyzing no only Carney’s business’ strengths but the weaknesses,