3A - Your Entrepreneurship Story



My best friend’s father is an entrepreneur, who started his own successful distribution business, Allied Caribbean Distribution, in Turks and Caicos. It distributes to grocery brands in the Caribbean region and other areas of the world, including Rome, Singapore, the Maldives, South Africa, France, Canada, and Hong Kong. In addition to distribution, the company also has reward programs and giveaways in the Caribbean. While being an entrepreneur entails risk taking, he explained to me that you must be careful who you do business with. While most businesses fail, his never did; however, he was cheated on by one of his business partners. Out of the three owners, one decided to launder money from the business in order to purchase luxury goods, such as planes and boats, for his own pleasure. This money laundering made the company lose millions of dollars. The money laundering was not noticed immediately because while the money was leaving, a lot of money was also coming in. Transaction books were not being thoroughly checked. Deciding who you do business with is a risk, and you must be cautious.

             I decided to take ENT 3003 because I would like to learn about the principles of entrepreneurship, for I am minoring in it. One of my options is to start my own business up, which is not easy to do. While I am majoring in finance, entrepreneurship is important to understand. One factor important of entrepreneurship is innovation, which must be applied in order to thrive in the entrepreneurial world. However, I think the most important thing that entrepreneurship teaches is decision making and problem solving. I can sometimes be indecisive and would like to develop decision making skills that will allow me to think sharper and more quickly.


Comments

  1. Haonan WangSeptember 15, 2019 at 3:49 PM

    Hi, Nicolette
    I think your friend's father is a very successful entrepreneur and have a great distribution business company. Also, I believe that his advice is essential for anyone who what to start a business. I think you have to choose the same-minded people and with a common goal to build a strong foundation for a business. Moreover, I agree with you that entrepreneurship and innovation are interrelated.

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  2. Minseok MunSeptember 15, 2019 at 7:24 PM

    Nicolette,
    I could greatly empathize with your best friend's father's experience, as my grandmother had also experienced money laundering by her business partner. My grandmother used to run a department store in Korea, and she and her business partners made millions of dollars during her career, which she used to reinvest in other parts of her businesses. Years after, she realized that one of her partners had laundered huge parts of the revenues to cover his personal finances, and it almost made her company give up a part of its business due to bankruptcy. That is why I believe that learning and being exposed to more information about entrepreneurship is an important asset to students.

    ReplyDelete
  3. CmvoorheesSeptember 15, 2019 at 10:42 PM

    Nicollete,
    I really enjoyed your post. I think the story of your friends father is a great cautionary tale for anyone looking to be an entrepreneur. It's hard to find trustworthy people and its demotivating to be cheated by those you thought you could trust. It's pretty cool that your minoring in entrepreneurship and have plans to start your own business. I'm also a finance major but I never thought of that as an option. Overall great post.

    ReplyDelete

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