Demand Media: Creating a Transformative Business – Essay Example
The paper "Demand Media: Creating a Transformative Business" is an exceptional example of a management essay. Rosenblatt presents an exciting and successful entrepreneurial journey. His journey explores the failures, successes, and humble start with small businesses, until finally owning a large business. Innovation is evident in his desire to succeed in a venture he had not majored in college. Despite studying political science, he ventures in the media business, and finally opens Demand Media. He prospers because of his innovative business model, innovative ideas, and the desire to thrive. As an entrepreneur, he identified and shaped opportunity for business ideas throughout his career (490). Rosenblatt’s creativity led to the creation of a line of supplements branded with Dr. Koop’s name, whose distribution was at Wal-Mart. Unfortunately, the September 11, 2001 attacks decreased the company’s access to capital. The best formula is venturing into a business at the right time, and selecting appropriate business partners wisely. The case has valuable lessons about entrepreneurial success and failure. One must have a perfect visualization of what exactly they want to achieve in life. Through this, it is easy to identify the necessary opportunities that determine the success of an enterprise, just as Rosenblatt did. Rosenblatt is a good example of an entrepreneur because he does what he is good at, rather than following the norm and pursuing interests related to his major, political science. Despite failing severally in several business ventures, he exploits several opportunities before finally becoming a successful entrepreneur. Entrepreneurship presents a possibility of both success and failure. Trying out something new presents the risk of failure, whether the business involves a large or small startup capital. There is a considerable chance of losing money in any venture, and one must have a bold spirit and be expectant of a bright future. The present economic situation presents a different scenario from the one that previous generations experienced. This means that there are different opportunities to achieve economic success for the current generation. There are diverse changes in the economic structure of every country owing to such factors as globalization and liberalization (497). The world is one large market made up of different cultures, situations, and opportunities. Through international cooperation, an entrepreneur ignores geographical and political barriers in the quest of promoting trade and expanding a business. For that reason, entrepreneurs must understand the need to reposition production or services to areas with lower labor costs, in addition to exploring an international trade.