Takahiko Naraki, the Three Million Yen Entrepreneur

Entrepreneurship Week 1 DQ 2- Submitted by Ashlie Rodrigues Introduction Takahiko Naraki a young entrepreneur in Japan owning Yuugen Gaisha called BIP his first venture started in 1997 failed and had to close BIP. He re-established BIP in 2001 with a new venture which deals with software models for customer’s relationship management. He also continues to work in a catalogue sales company which helps to support his daily needs as well as invest in his business. In order to cut cost and to be independent BIP was a one man show. The work pressure ultimately affected his health. Today he is at the junction where he is very close to reach his goal to success at the same time his health is deteriorating. He has to decide if he can reach his†¦show more content†¦5. Decision In both cases he needs to quit from the catalogue sales job and concentrate on his business. Both the solutions address to the main problem of management, time and finance. The alternatives suggest that by employing a good work team he can increase sales, and hence revenue which is good for the growth of the company. The overwork, travel and tension which were the main reason for his ill health can be solved. He will be able to dedicate more time with his family and developing new programmers which will help keep a loyal customer base. Solution 1 also reduces the risk of unexpected problems in business as he would have strong partners to guide and support him. 6. Taking Action and Following Up Naraki now will have to share his vision with a team. He needs to invest in his business. He can start up with first establishing an office in Nagoya and later in Tokyo. He could send his employees to Tokyo rather than traveling himself until the office in Tokyo starts. Now he will have to be more careful of the day to day activities till the business grows. BIP will now be able to generate a better income than before. The odds for survival and a higher level of success change dramatically if the venture reaches a critical mass of at least 10 to 20 people with $2 million to $ 3 million in revenues. Timmons, (2009) Larger the firm size higher are its chances for growth and survival. References Inch, J.and Morse E.,