Entrepreneurship and Small Business Management

Ice Hotel / Cold Opportunity

Assignment 2

Name: Ramsha Ashfaq

Student ID: 26794
Section: WE-8753
Submitted To: Ma’am Samiya Hameed
Submission Date: 24th October 2020
 Learning From the Entrepreneurial Journey of
Nils Bergqvist

Nil Bergqvist was born in central Sweden. He was an environmental

engineer and was working in a mining company. While working he
continued doing river rafting and canoeing. Later he started taking
tourists down to the river and turned his hobby to the business. He left
his job when he purchased his first boat. But it was a seasonal business
for him so thought of doing something for winters too. For winters he
arranged an ice art for the people but due to the weather all the
sculpture were destroyed. Afterwards, they build an Ice hotel for the
winters.
The lesson I learned from the case study of Cold Opportunity is that one
should identify their interest and their hobbies and do something
accordingly like Nil Bergqvist.
Firstly he was working in a mining company but he understand that it
was not his place. During his working time period he also did river
rafting and canoeing and he enjoyed doing that so he started taking the
tourist also. Slowly and gradually he made his hobby as his business.
Hence, it is very important for an individual to do something in which
his interest is because if he is doing something he doesn’t like he won’t
be able to perform well firstly and also he will not enjoy what he is
doing. Therefore, it is very important for a person to identify their
interest and to do something with it. An individual will surely perform
well in that and will give his best because he’s doing what he loves to
do.
Secondly, I also learned from the case that a person should see
opportunities and think of filling the gaps like, Nil Bergqvist did. He
knew the fact that in winter the river will be freeze plus it will be cold
and dark so no one will go while it was different for him because he
likes all that and it was refreshing for him. So he knew that tourism will
be seasonal business for him but he looked what he could do for
winters. Therefore, he travelled to different countries to see their
winter destinations so that he could have some idea of what he could
do.
So, I learned that one person should look for the opportunities and he
should observe what improvement and innovation he can bring for the
people. Similarly like Nil bring the Ice art for the people of Sweden in
winter. He looked for the improvements and filling the gaps in his
business.
Like he may have thought in such a way that I will work in season only
and in winters it will not be possible to do anything. Rather than
thinking that way he visited to the destinations to get ideas of what he
could do and he worked on one of it.
Moreover, I also learned that there could be any uncertainty so an
individual should always be ready for that. Like the environmental
uncertainty Nil faced when it started raining and all his ice art was
destroyed. But again he looked for the opportunity in it and they made
an Ice hotel with the resources he had and make it a success.
Hence, to conclude he thought of different ideas because he was doing
what he loved to do. So when a person do something he loves, he think
of doing it anyway and seek for opportunities and ideas to do it in a
better way.