After listening to Ron Kornfeld, I think that I have a different perspective on my business, both in terms of me being an internet business and simply creating a business as a whole. One thing I learned was how a business can make a profit by only sharing data about their users. Netflix, a company I see as a rival to my business probably uses this strategy in the same way. This realization will help me a lot when I begin my start up and have allowed me to reconstruct my startup and exit plan.
Another way that he has helped me alter my plan is though
his concept of disruption. The insight he put in terms of how to break into a
market and using examples from real life companies was very helpful. Putting
“restrictions” on rival companies I thought was a smart way of creating
disruption. His success with business’ like DreamBox and Tweetiator are all
testaments to these ideas.
A trend that I’ve been noticing is that many successful
entrepreneurs do not have any background in business whatsoever. Although I’ve
heard of this story many times before, not knowing that Ron Kornfeld was a
music major until near the end of the presentation solidified my thoughts of
what an entrepreneur can be. Having a major in something other than business
can be helpful because it helps with the creation of an idea and maintaining
perseverance though passion. That, combined with the business template that he
provided makes for a successful combination.
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