Kliptech Video Review PDF

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Kliptech Video Review Summary: Joel Klippert, entrepreneur and owner Kliptech, talks about how he started his business, “Kilptech” and how he faced challenges in establishing this start-up. One of his challenges is that people did not believe in him because they think that his idea of inventing products out of recycled paper was impossible. However, he proved them wrong as he made a business plan and get funding in order to implement his idea, and he is now happy with his job and also a very successful entrepreneur. 1. What are the main challenges faced by entrepreneurs like Joel Klippert who are looking to establish a start-up? 

According to Klippert, one of the main challenges faced by entrepreneurs in establishing a start-up is being on your own in doing all the things in the beginning which is a “frightening thing”, because they have to come up with ideas and also know how to implement them. They also have to make a business plan and get funding by getting bank loans in order to start their business.

2. What, according to Joel, are the advantages of carving out a market segment as opposed to competing with other firms or organizations in an established market? 

The benefit of a small business is adjusting and making changes is really easy because it will not affect a lot of things and it takes

less time and effort compared to big corporation. As Klippert described, small businesses adjust like a “speed boat on the water”, because they can alter extremely fast. Also, small businesses offer new and unique products and they have less competition. 3. How important is a good business plan to establishing a successful start-up? 

A business plan includes the things and layout of how someone will start and handle their business very well. A good business plan will make the business really successful because planning these business goals will motivate the entrepreneurs to achieve them more and planning them out beforehand will make things easier, resulting to a smoother business flow....