One thing that surprised me from this chapter was that poor timing resulted in 40% of companies failing in one study. I never realized how important timing would be when starting a new venture. I obviously knew it was important but I didn't think it would be the reason four out of ten companies failed. It's good to know that entrepreneurs shouldn't venture into the market until they know everything about their company and what they want to do with it or else there will be severe consequences.
Something that I thought was confusing was the marketability. I've never had to deal with marketing a product or service so I imagine it would be something I'd find challenging. Market analysis seems like something pretty confusing to understand. Since I've never really had to sell my idea, I think it would be tough figuring out the different risks and opportunities in a market.
One question I would ask Kuratko would be which critical factor he believes to be most important. It's obvious that you can't ignore one when you're trying to succeed with a business but I'd be interested to see which one he found important in his own entrepreneurial ventures. The next thing I would ask Kuratko would be about the pitfalls when choosing new ventures. He talks about several of them and I would want to know which one he finds people falling into most often. Since I have some business ideas it would be good to know which things to avoid.
The one thing I disagreed with Kuratko about was when he said bugs lead to customers leaving and severely hurt the company. I'm sure this happens every now and then but definitely not all the time. Companies like Apple experience bugs every time they release a new software but Apple is still dominating the technology industry. As long as people are satisfied with the product, they won't get too upset about an occasional bug.
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