SUMAGAYSAY, Charlie T.

November 25, 2022

BS Mechanical Engineering 3
202098
THE ENTREPRENURIAL MIND

ACTIVITY 4

1. How can you venture a new business using your mechanical engineering knowledge?

School is merely the beginning of our education in mechanical engineering. The second
component is job experience, in which we learn the various subtleties of applying theory to
real-world projects. A mechanical engineering student like me may launch a variety of
businesses. I could start my own consulting firm, designing mechanical equipment for
customers. I could alternatively build or sell the equipment or leave that to others, but I
intend to pursue my own and my father's goals of opening an automobile shop once I have
the resources to do so. There are many steps to successfully starting this venture, including:
gaining several years of experience working in automotive servicing, developing contacts
with businesses who could be future clients, obtaining legal certification as a professional
engineer, to be able to do certain projects, advertising my services, emphasizing my
experience and previous design projects, and continuing to learn and increase my expertise
in my maintenance specialty.

2. If you’ll be given a chance to venture a business projects, how can you use the
information given by the video clips?

As the title suggests, I would utilize it to find business prospects and how to proceed.
Identifying business prospects in venture such that a business cannot begin, expand, or
flourish without it. An opportunity's principal goal is to serve as the foundation for any
activity that results in profit and corporate growth. Opportunities enable organizations to
develop and implement new ideas and innovations, as well as improve their overall
performance. When launching a firm, you must also have a sound business strategy. A
strong business plan not only helps entrepreneurs focus on the particular procedures
required for their business ideas to succeed, but it also assists them in meeting both short-
term and long-term goals. Benjamin Franklin once said, "If you fail to plan, you are planning
to fail." (Benjamin Franklin).