Different strokes: changing fortunes

Start-up firms face a myriad of problems from their inception to growth, which differ with their magnitude and nature of the industry. Entrepreneurs need to consider several factors such as access to capital, land, infrastructure, and labour; product development and its life cycle; use of technology; marketing as well as customers' satisfaction. This case study highlights these issues during establishment and development of a business successfully and enlighten students as to how an entrepreneur handles them in an effective manner. It also explains the ways in which an entrepreneur uses innovative ideas to create and exploit business opportunities for monetary gains. It explains why and how timely decisions and entrepreneurial traits contribute to the success of an entrepreneurial venture. The case study is about an entrepreneurial endeavour embarked upon by Lee, from his one bedroom apartment. The business kicked off by importing high quality copier paper from China at cheaper prices to earn high profits. The business showed an incremental performance in the first few years but exhibited exponential growth through diversification in the coming years. Nevertheless it has now multiplied several fold into a large outsourcing firm, under its founder's entrepreneurial leadership.