Introduction

Reflective essays are important to me because they allow me to explore my experiences as an entrepreneur, evaluate certain incidents, compose personal and business insights, and even develop completely new skills and strategies (Bennion et al., 2020). It is in this context that this essay will seek to examine and demonstrate these elements through the use of the Reflective Practice model by Brockbank and McGill to gain insight into the applicability of the model in advancing knowledge on and for the improvement of entrepreneurial competence and strategy.

The reflective practice model developed by Brockbank and McGill can help me organise my thoughts and consider my entrepreneurial endeavours in a much more precise manner. This process aims at altering past actions through reflection and critical evaluation, leading to improved decision-making, and subsequent reflective cycles (Lindestaf and Malmqvist, 2021). Such a framework is relevant to entrepreneurship since it focuses on learning rather than relying on excellence while manoeuvring through unpredictability or capitalising on opportunities (Antonopoulos and Madhloom, 2021).

Therefore, when undertaking my entrepreneurial education, this reflective model is an avenue for closing this gap in financial literacy and strategic networking. The settings such as majors in entrepreneurship do not only train me on content knowledge but also test my ability to apply the content knowledge in real-life situations. For example, when working on a business plan, or presenting a start-up concept, I can actively practice reflective activities to analyse the outcomes of my strategies, assess the potential problems and challenges that may arise, as well as improve my performance of the given tasks based on the received feedbacks and acquired knowledge.

However, the reflective frameworks contribute to my journey in both personal and professional enhancements in that they provide a medium for. Failures are also useful since they provide a book understanding of numerous aspects, including strengths and weaknesses, on which I can focus in the future (Lynch et al., 2021). This state fosters heightened self-reflection and review of past and future influences and decisions, risk evaluation, and the ability to think out of the box, which is critical in entrepreneurship (Harada and Azevedo-Gomes, 2020).

For instance, trying to understand the failure of a particular campaign allows me to consider where the strategy went wrong – wrong market assessment, lack of clear message, or external pressure from competitors. This way not only do I get to learn, but I also gain a sense of flexibility and perseverance that are essential in today’s environment of ever-changing challenges in the world of the entrepreneur.

Figure 1: Double-loop Learning (Tschakert and Dietrich, 2010)

Summing up, the structure of this reflective academic writing will guide through the thinning of the entrepreneurial development process by employing Brockbank and McGill’s Reflective Practice model. Hence, as a recap, examining both the theoretical and practical aspects within the framework of the entrepreneurial context, the paper seeks to highlight the value of reflectively learning about one’s self and the possibilities it holds in developing and strengthening the relevant skills and competencies. By engaging in the process of exploring the concept of reflection in this fashion, the essay will reveal how reflective practices may foster growth, inspire creativity, and foster tenacity in my work as an entrepreneur.

Section 1: Theoretical Frameworks of Reflection

To me as an entrepreneur, reflective frameworks such as those highlighted in this essay and particularly Brockbank and McGill’s Reflective Practice model are important tools in the paradigm of developing oneself professionally. This model designed on a structured cycle of reflection practice and reflection offers a framework within which to analyse experiences, make sense of what was learned, and choose ways to transfer knowledge to new tasks and contexts (Rowe, Moore, and McKie, 2020). By making me look beyond the surface, and forcing me to examine my judgments, actions, and the results of those actions, it helps me develop a clearer sense of myself as an entrepreneur and expands my insight into the multiple layers of business (Cendon, 2020).

Reflection frameworks play a vital role in building up personal and professional accreditations through the encouragement of self-reflection. I can automatically see my experience, achievements, and weaknesses while pursuing an entrepreneurial venture through this analysis. For instance, while covering the module on starting financing for a new business, I had to ponder my strategy to seek funding for my business idea. This helped me to bring awareness of my strong suit in presenting the problem and solution to the business issue but also made me realise my weakness in estimating profitability. In this way, it becomes possible to acknowledge these insights and actively look for continuing training and/or coaching to strengthen the specific abilities that are deemed relevant in the broader framework of planning and analysis of the company’s finances.

In addition, reflective practice develops my critical skills since it implies that instead of accepting existing practices and theories, I analyse reflective frameworks and the case studies of successful entrepreneurs, I provide particular attention to such aspects as leadership, decision-making, and overcoming the challenges. In an entrepreneurship leadership course, I analysed reflective frameworks and case presentative of successful business owners. Looking at the leadership methods, problem-solving, and approaches to adverse situations while evaluating corresponding cases, I learned more about leadership approaches that I may apply to my business endeavours. It helped also expand my knowledge regarding leadership concepts and enabled me to apply some of the best practices while learning in the process how to improve my leadership style. For example, applying Brockbank and McGill’s model, I analysed unsuccessful trends in product launches to improve future marketing experiences.

Beyond individual development, the reflective frameworks are also effective in organisational learning as well as in strategic decision-making in entrepreneurship (Damons and Dunbar-Krige, 2020). For example, when my start-up was faced with unfavourable market conditions against a new product launch, the implementation of reflective practices involved a critical approach towards market research strategies established, customer feedback tools, and a competitor’s analysis. By going through such a process, I was able to notice some lapses in my first formulation of the marketing plan as well as came up with a more appropriate way of reaching out to the targeted group. Not only how well the improved reception of my product enhanced the experience of customers further but also on how this process enhanced my knowledge on how to be more effective in the future.

This essay also discovered that in entrepreneurial education, reflective models act as a link between the theory and practice application. I consider them beneficial as they enable me to apply the corresponding course concepts to practical situations, therefore improving my problem-solving skills in business decision-making processes (Badger, 2022). For instance, while doing a business plan for a social enterprise during a sustainable entrepreneurship class, I applied the reflective frameworks in assessing the metrics of social impact that are agenda within the business model proposed. By doing so I was able to improve the methods that help to measure my impact and organise my business goals to make them more socially and environmentally sustainable, which proves that reflective practices can be rather helpful in the process of developing socially responsible entrepreneurship. Furthermore, while using Kolb’s Experiential Learning Theory, I reflected on a missed deal to enhance future negotiations, which further developed my business acumen.

Models such as the Brockbank and McGill Reflection Model of Reflective Practice have been helpful to me in my entrepreneurial practice. They permit me to consider both the positive and problematic outcomes and improve on what I do in the future (Costello and Costello, 2020). For instance, while working on a project involving performing several activities having to do with introducing a product in the market, I applied reflective practices in assessing strategic decisions made. Finally, I also observed apparent disparities in my market research, customer feedback, and sales data to comprehend and begin correcting conceptual issues. This informed a shift in the market segment where I focused marketing campaigns on the segment of customers that had a relatively higher receptiveness to the product. This event catalysed the sales and the awareness of market orientation and dynamic strategies in entrepreneurship. In the same way, reflective practice helps me, as it is oriented toward the evaluation of current business paradigms and the search for better solutions. Taking a course module on business model innovation, I engaged in the application of reflective frameworks to understand the different business models and how e-commerce applies them in various markets.

Moreover, I met the industry and analysed experiences by proper entrepreneurial competencies, character, and practice framework. In particular, I used a theoretical framework based on Brockbank & McGill’s Reflective Practice model as it helped me to consider an experience as a valuable information source and a basis for learning. This model helped me self-reflect on the judgments, actions taken, and outcomes achieved, thus enhancing the understanding of the type of entrepreneurial personality and competencies that I possess (Deeley, 2022).

Also, the identification of the focus of the course as entrepreneurial competencies through The EntreComp Framework enabled the mapping of relevant specific competencies. For instance, during my interaction with advanced financial planning, it was found that there are limitations to my financial knowledge. Reflective practices helped me identify this as a limitation and proceeded to seek enhancement in training covering my poor financial management ability contrary to the financial literacy competence of EntreComp (Huntley, 2021).

When considering specific character traits related to entrepreneurship, I utilised reflective practices in creating innovation and earnestness. In the following situation of an adverse market environment, I used critical reflection skills to analyse and enhance market research frameworks and then resulting in improved decision-making and flexibility. This goes hand in hand with the first two competencies of EntreComp; namely the ideas and specialisation competencies focusing on the continua of learning and responsible entrepreneurship as the third one does (Lynch et al., 2021).

However, the course also covered Neck, Greene, and Brush 5 Practices of Entrepreneurship which I applied to my self-reflective analysis. For instance, the process of ‘The Entrepreneurial Mind-set’ prompted me to have a problem-solver perspective, whereas the processes of ‘Creating’ and ‘Exploring’ assisted in coming up with innovation and chances of the market. In turn, reflective practices helped me to examine these entrepreneurial practices so that I could enhance the applications of strategic decisions, leadership, and various other factors (Bailie, Gebre, and O’Neill, 2021).

In the scale of the MAS module, one can point at the reflective practice as an essential aspect of personal growth as an entrepreneur because it contributes to the development of the resilience and ability to adapt. Reflective frameworks, in particular, can apply when there are issues with the strategies or even failures to understand the reasons for them and point out the lessons learners can gain from such situations (Huntley, Johnson, and Napier, 2023). This facilitates the coaching and development of methods, enhances the decision-making process, and builds the mentality of people who are learning from their errors. When decisions turn out unfavourable or upside down, the business adapts and grows wiser in handling future risks and opportunities. Going through the reflective models in entrepreneurial education provides integrated knowledge, experience, theory-practice connection, and skill development (Estaji and Ahmadi Fatalaki, 2023). Every day is filled with reflection and experience to make the best future as well as to innovate to acquire the quality of life desired by an entrepreneur where the life of an entrepreneur values lifelong learning in the field.

Section 2: Overview of Course Experiences

When considering my learning journey in the process of becoming an entrepreneur, several significant events and aspects have impacted my perspectives. Entrepreneurship Course has shed light on reflective practice, offer some of the following experiences: Challenges and accomplishments, working on projects, complete individual and group tasks, and reflect on the process and outcome using the Brockbank and McGill’s Reflective Practice model.

Free writing and reflection are effective tools for reflecting on important learning situations I was able to accomplish this by writing about one of my experiences in the entrepreneurship course where I engaged in a project that required to delivery of a business plan for a technology start-up company (Feixas et al., 2020). In the beginning, I encountered issues in the understanding of visions and the strong emphasis on disparate experiences to enhance it in a consolidated approach. In this context, I have comprehensively used the elements related to reflective frameworks to contemplate patterns of communication, and decision-making structures (Taylor, 2020). From this point of reflection, I saw that some key areas of strength include role and responsibility definitions, communication channels, and how to work with them based on my strengths. With these facts in mind, I was able to significantly change how I worked together and was able to develop a strong and credible business plan that identified my creativity and analytical skills (Jhaveri and Li, 2024).

Another memorable achievement I recorded as part of the course activities was that I was offered the opportunity to join a pitch competition. Applying Brockbank and McGill’s model enables me to analyse the preparation process, the presentation and the judges’ evaluation to come up with an overview of the lesson learned as well. I identified sections of the pitch that could benefit from improvement in terms of pitch content and focus, improvements in presentation and delivery, and areas where one could look at reacting to possible questions that investors may ask (Stanley, 2022). This reflective analysis was not only useful in expanding upon my pitching abilities but also in reminding me of the value of preparation, confidence, and adaptability when trying to convey entrepreneurial visions and plans to others (Mynard, 2023).

Additionally, discussions as to the success and failure of various cases in entrepreneurship also helped acquire a better understanding of various actual cases. Reflective practice for example allowed me to examine emerging firms such as Airbnb or Uber; and identify their disruptive strategic approaches, consumer orientation, and coping mechanisms towards various force industries (Fletcher, 2023). Studying these cases has given me a closer look at how entrepreneurs respond to adversity, come up with solutions, how innovation is a cyclic process, and the behind-the-scenes aspects regarding entrepreneurial decision-making for growth in volatile industries.

Furthermore, thinking reflectively to discuss cases of ethics in entrepreneurship involved me in considering how the decisions impact the stakeholders and the society as well. For example, in a class focused on ethical concerns of data protection for a tech venture, when exploring ideas for an ethically problematic situation, I used reflective frameworks thinking about the risky aspects and liabilities (Yates, 2020). This reflection made me encourage more companies to report their data management practices, ensure the protection of users’ data within the business model, and be proactive regarding the changing regulations that affect my business. Including ethical considerations in businesses’ decision-making processes made me appreciate fulsome corporate social responsibility and ethical leadership, an amazingly important facet of sustainable entrepreneurship.

In the process of learning the skills of an entrepreneur, there have been moments or times when events elicited increased my perspective and choice. Most of these incidences were realised when I conducted surveys and focus groups during a particular module that addressed market research. Analysing the data collected, I clarified the subjects’ significance regarding the orientation of product development. This insight I found very useful in pointing us to redesign the product and make greater efforts in making my product more user-friendly, thus enhancing its market appeal. For example, when employing Schön’s Reflective Practice, I evaluated a faulty tangible item characteristic for future improvement of the product design. Further, in the unsuccessful negotiation, by applying Mezirow’s Transformative Learning Theory, I noted the areas of learning that are needed to enhance the capacity to respond in more enriched and effective ways to future business events.

Also, gaining experience as a participant in a pitch competition for start-up projects is vital. This process forced me to better define and formalise my business concept itself, communicate the concept and value proposition to potential investors, and also think about what kind of questions an investor might ask me. Judging the feedback of the judges, I realised that uncomplicated language and detailed analysis of the market was important in making investors interested. Looking back, I realised it helped to hone my presentation skills and gave me insight into my decision-making in future businesses.

Finally, an improvised case study was made that involved a failed start-up and brought lessons in operational failures, particularly in terms of financial and strategic planning. Thinking naturally, I realised that the case demonstrates the risks of rampant expansion without a strong financial foundation. That has been very handy in how I have grown my ventures with appropriate caution to avoid getting involved in financial mess, due to hasty expansion. While practising critical reflection during these formative experiences, I have developed the complexity and resilience that have informed my entrepreneurial decisions.

Section 3: Changes in Entrepreneurial Insight and Learning

Having analysed my learning process and its outcomes throughout the entire course of my entrepreneurial education, I can confidently state that having accumulated both the theoretical background and practical experiences coupled with a reflective analysis of my actions, my insights and overall understanding of the subject have been vastly altered and evolved. At the start of this journey, my business knowledge was quite undeveloped and only included an idea of key business concepts coupled with a passion for creating new ventures. As I began participating in these multiple course experiences, I realised that my understanding progressed not only in terms of training but also in light of factual knowledge and evidence from practical scenarios and other research studies.

In the beginning, my intentions and orientation as an entrepreneur were somewhat simple and I was just keen on developing new offerings. To my surprise, during this procedure, I came to know that a successful strategy and commitment came in as the major factors that determined success. That is why through the course I learned about the necessity of severe market research, well-planned planning, and important customer-focused strategies. For example, in a module that was on market research, I secured the necessary permissions to administer surveys and focus groups among customers. From the process of writing this report, I realised that getting to know the customers and what they would like to have is very important in coming up with a good business model. From a product focus to a customer focus, this was a large increase in my business acumen that I had to make. In detail, following the Theory of Action by Argyris and Schön, the behavior of analysing a failed product launch was taken to avoid similar mistakes in the future. Furthermore, applying the findings from the Social Development Theory by Vygotsky, I observed a team’s dynamics in a project to optimise collaborative work and better comprehend the key factors.

Another area also influenced by course experiences was how I mediated my quest for funding through pitching sessions. When I first heard the word ‘pitching,’ I associated it only with adding energy to the proposition of an idea. However, when I entered a start-up pitch competition, some of the vital aspects that I realised were present were general Return on Investment (ROI), Market Need (MN), strengths, weaknesses, goals and objectives, market analysis, and impeccable financial reports. From the judge’s comments, I understood that the investors look for carefully researched and proven work that propounds the possible avenues and sighted assessment on the aspect of prospective risks. The latter helped me define and present instances of value proposition and reinforce my understanding of the necessity of due diligence and focus on potential risks before obtaining an investment.

Incorporating case studies that include established start-ups as well as failures tackled the lack of sufficient detail in the article. At first, I believed that strategy and a few factors like innovation and timing had a huge role to play in success. Yet, putting the lens forward for various cases including the success story of Airbnb and the failure of Theranos brought us to the understanding of the fact that the phenomenon of entrepreneurship is complex in its nature (Straker et al., 2021). Evaluating these cases, I extend my knowledge of ethical leadership, situational awareness, and reporting, as well as implementing sustainable business strategies. For instance, Airbnb focused on creating a culture of trust and integrity within its users, while on the other hand, when Theranos was brought down by a series of unscrupulous actions, this showed how integrity should be a cornerstone of any firm when it comes to the long run (Gavet, 2020). This realisation impacted my thinking about entrepreneurship greatly as it focused not only on creating something that has the potential to grow and be profitable but also on the moral implications of such an endeavour.

Although practical experience was the most influential source of knowledge during my stay in the United States, academic literature supported practical paradigms and introduced theoretical frameworks that enriched my perception. For instance, the idea of the subject, such as validated learning, was new to me, and it was through the book “The Lean Start-up” by Eric Ries (2011) that I learned the need to engage in iterative development. With this in mind, I tried to implement an aspect of lean in a class project whereby, I adopted rapid prototyping with special emphasis on user feedback to make more and more iterations of the product. The final result was also better in terms of the quality of the final footage while stressing the significance of flexibility and market feedback, which is in line with Ries and his ideas about entrepreneurial ventures.

When comparing the stock knowledge I had when I entered the flourishing world with the current knowledge that I possess, it is possible to point out that growth has occurred. When I first took into account the ideology of entrepreneurship, possessing a very limited perspective, I saw it simply as the act of creating value through innovation and passion. I see more diverse opportunities that include strategic thinking, customer relations, business decision-making based on ethical standards, as well as flexibility. This evolution is rather inspiring, demonstrating how knowledge, skills, and experiences that were acquired and developed in practice and through reflection, apply theoretical concepts and principles as the foundation of their practice (Lackéus, 2020).

For the synthesis of the new perspectives, it is thus crucial to reflect on the theoretical conceptions that I have encountered in the course on entrepreneurship such as entrepreneurial competencies and The EntreComp Framework. The EntreComp Framework offers a whole set of the competencies needed to become an entrepreneur once again; thus, it served as a useful roadmap for my growth (Shani and Coghlan, 2021). I started by selecting sources based on the criteria concerning creativity and vision; however, as the course went on, I acknowledged the inclusion of such competencies as financial literacy as well as ethical responsibility.

For example, a project in business financial planning had the potential that stress the skills of financial management. According to the EntreComp competence knowledge of financial literacy, I discovered how to prepare flexible financial, specifically recognising how to make strong financial projections for the company’s sustainability, and comprehending the meaning of cash flow. On the same line, a case study analysed an ill-fated venture to look into ethical and sustainable thinking. I have reflected on this and was able to incorporate ethics into my business solutions, which relates to the EntreComp competence of ethical and sustainable thinking.

So, the controllable and learned theoretical concepts, supported and stipulated by pragmatic experiences, have enriched my entrepreneurial arsenal. Knowing and gradually developing the competencies to cope with the challenges identified by the EntreComp Framework, I can testify that my initial eagerness has been channelled into a comprehensive and thoughtful approach toward entrepreneurship. From this view, I can grasp the ‘big picture’ of the entrepreneurial environment and be better placed to deal with challenges as they arise.

Section 4: Entrepreneurial Character and Competency Development

Over the course of executing the operations of my newly founded entrepreneurial simulation project Eco Tech Solutions, there are several entrepreneurial competencies and character aspects that I have come to acquire significantly as a business person in the contemporary world. These competencies have been accurately aligned to the EntreComp Framework and hence helped in easily understanding and identifying own developmental progress; certain occurrences in the course have directly influenced the overall development of this entrepreneurial personality.

Opportunity awareness is one of the skills attained through Eco Tech Solutions using the EntreComp Framework which is a core category. In the recent past, I had to embark on comprehensive market research to determine the existence of any niches in the market regarding eco-friendly technology. Through survey information from customers and other market analyses, I discovered a capacity to identify opportunities or needs that are unfilled. This competency was built even further by the means of class discussions and case analyses, which helps in considering how successful entrepreneurs in start-ups can recognise opportunities and monetise them (Bauman and Lucy, 2021).

The other obvious competency is creativity, which was very useful in identifying innovations that would help in solving existing problems among start-ups. Evaluating economic sustainability and coming up with creative designs that ensured that products were environmentally friendly raised a lot of challenges that tested my ability to innovate and work with my colleagues. Applying creativity here was about not only creating new ideas but also coming up with improvements to the ideas presented by other members of the working group and improving ideas by taking into account real-world circumstances. This form of iterative design is a very valuable lesson on the nature of entrepreneurship, and the need for iterative design whenever there is a situation wherein constant changes may be expected (Tittel and Terzidis, 2020).

I also wanted to add that through working with Eco Tech Solutions, I have improved the competence of financial literacy which is important now for any business. Preparing and forecasting the company’s finances, budgeting all activities, and allocating the company’s funds were components of the business plan. This includes assignments and projects that were aimed at assessing an individual’s ability how to read a balance sheet, and profit and loss account, and develop abilities to make sound financial decisions (Jardim, 2021). This competence was supported by such reflective practices as the analysis of my financing approaches and considering the ways to develop the financial model of the start-up more efficiently.

Ethical and sustainable thinking is the other competency that made me consider how I developed ethical and sustainable thinking as a critical aspect of my entrepreneurial character. Due to the nature of the business of Eco Tech Solutions, the emphasis on sustainability had to be more than just an organisational activity but an attitude. Open discussions in class regarding ethical cases and participation in ethical case debates promoted the awareness of the ethicist dimension in making business decisions. From this, I understood how organisations can be both socially and environmentally responsible, coupled with the achievement of goals (González-López, Pérez-López, and Rodríguez-Ariza, 2021).

Therefore, the improvements made in the characters that I possess are innovation and resilience, which I gained during the time spent in Eco-Tech Solutions. As has been mentioned, innovation was not only the creation of new ideas and receptions but also their successful adoption. During the regular project checkpoints and scrum meetings, I realised that it is always good to take risks and failures as positive aspects of the project. This resilience helped keep involvement and interest high since even when something came in the way like a lack of resources or a market to sell the products the program could continue.

Another character trait that I developed over the course of the semesters was responsibility for sustainability. The project highlighted that the challenge of creating value was not simply defined by making goods and services that can generate good revenues but those that could do the same whilst being sustainable. This focus could be attributed to the content of the course which included the environmental sustainability of business and the future consequences of some of the actions of entrepreneurs (Bell and Bell, 2020). I was able to learn how my business model impacts the business’ sustainability and the general societal environment through my business decisions by reflecting on the sustainability aspect of the business.

The assessment of the overall competency undergone in the course related to being an entrepreneur has enabled me to identify my strong points and weaknesses. An area of strength, that I possess, is creativity, which I was able to apply in my project work, Eco Tech Solutions. I always provided unique solutions regarding the disposal and utilisation of more ecological products, and I managed to implement feedback that would improve the products. This type of creative thinking was supplemented by the in-course activities that were aimed at brainstorming and iteration design (Jardim, 2021).

In my interpersonal skills, another forte is financial literacy, which was acquired from intensive practices in financial planning and estimates. The applicability of concepts learned in this course was evident concerning the elaborative financial plans that I compiled for my start-up since this course gave me an understanding of how to properly prepare and manage financial budgets.

Secondly, it is essential to mention a weaker aspect of my performance which concerns the first attempt at strategic networking. Though I knew the concept of professional networking or utilising professionals and their knowledge in a certain field, I was not quite capable of creating and utilising a professional network. Activities of reflection and course discourse regarding networking established that there is a need to be proactive in the search for mentors and business partners. Understanding this fact, I started to attend more industry events and interact with my peers and other professionals, and over time, my networking proficiency started to increase.

All things considered, the course has provided me with a secure knowledge of my strengths while at the same time pinpointing the spheres that call for improvement and constant personal development in the field of entrepreneurship.

Section 5: Setting SMART Goals for Eco Tech Solutions

In my entrepreneurship class, I co-founded a start-up called Eco Tech Solutions that deals with the development and implementation of environmentally friendly technologies. My mission is to create eco-friendly products that cause no harm to the environment, while at the same time, offering practical, useable solutions. It is very important to highlight that the consumption of environmentally friendly products increases year by year due to the active market and growing awareness of clients. In light of the above market dynamics, the global green technology and sustainability market is projected to grow at a healthy rate of around $134.9 billion by 2030 (Markets and Markets, 2024). By 2025 it is predicted that the smart wearable devices market is expected to reach $70 billion and therefore offer a chance for my business to grow in this promising segment (Das and Holland, 2024).

For the effectiveness of the growth and/or impact that I anticipate from Eco Tech Solutions, the following goals have been established under the SMART goal-setting framework; it also provides a clear framework of direction hence helping me to have a fully developed and correctly oriented goals about my mission and vision statement (Latham, 2020).

To achieve this, I have a tactical plan to release my first product, an environmentally friendly water filtration system, in the coming year. This goal can be considered most specific in the sense that it is directed to a particular product and can be made measurable concerning the steps that are taken towards establishing the initial product development (Raff, Wentzel, and Obwegeser, 2020). In terms of its achievability, it is possible in terms of the current existing resources within the company, and compatible with the company’s mission to promote sustainability. The above plan is made time-bound for one year, this is important as it serves as a reminder of the work to be done at any given time hence creating a pace toward the achievement of the set goals. The ideas for the creation of this product to be launched and tested on the market at the end of this period include a detailed plan for marketing and distribution (Kahle et al., 2020).

Another SMART goal is to find funding to help us with the costs of getting into my first product and subsequent releases. The fire alarm system will cost $400,000 to set while the fire extinguisher will cost $100,000 to install. For the next six months, we want to source $500,000 for the seed capital. This goal is specific in terms of the amount and the activity being funded, tangible and realistic, since the amount has been funded through previous investment meetings and the response has been positive to the pitches that have been done so far (Chang and Chen, 2021). Because, ultimately, funding is a critical facet necessary for the expansion of operations and, in particular, the introduction of a product. This is because having a time frame of six months encourages us to work harder, and put more effort into fundraising (Mondejar et al., 2021).

However, as a long-term alternative, I have set myself the objective of reaching a customer base with the accomplishment of 1,000 paying customers in the first 6 months of the product. It is specific in the sense that it provides an absolute number of customers to target, and is measurable since it includes sales and customer acquisition figures (Pessoa and Becker, 2020). It is possible given the current consumption trend and the intended marketing strategies which include leveraging online advertising and striking strategic partnerships with stores that espouse environmentally friendly practices. This goal is timely for my business, growth, and sustainability mission and the focus on customer acquisition at a relatively early stage of the business’s lifecycle complements the six-month horizon (Desjardins, 2021).

Another crucial objective is to enhance the ecological footprint of my product, so it will be important to work on it. My goal is to implement change and reduce the building’s carbon footprint by a minimum of 20% of the carbon footprint of the water filtration system utilised within the initial year of the system launch. This goal is specific and quantifiable in its aim to save a specific number of environmental points annually, measurable through life cycle analysis and carbon footprint, and can be realistically achieved due to the planned improvements in my supply chain and manufacturing processes. It is very suitable to be a sustainability initiative and also aligned with my goal and timeframe of 1 year for this initiative (Li et al., 2021).

Lastly, to enhance my position in the market and to familiarise my brand I have set the target of getting at least 50 percent more followers on the company’s social media platforms within the next six months. Specific to digital marketing, measurable through followers, likes, shares, and other analytics, this goal is realistically attainable through the creation and execution of an effective content plan and social media engagement plan (Yin, Ming, and Zhang, 2020). It is relevant as often brands, that want to become recognised by customers or attract investors, need some period, and knowing the six-month timeline we will be able to focus on its achievement (Del Rio et al., 2020).

Adopting the SMART goals correctly for Eco Tech Solutions will require the following actions and opportunities. This is evident in booth networking events and other industry conferences among others. The networking that will be occasioned by these events will go a long way in ensuring the achievement of its required $500,000 seed capital from investors, partners, or even mentors. For instance, in the course of the program, I participated in a pitching competition for start-ups wherein the engagement offered me valuable pitching execution experience and reached out to some viable investors.

Preparation to increase professionally relevant skills is another action highlighted, namely, skill-building workshops. Organised and efficient, these workshops; financial and business management, and marketing, will assist me in improving on areas of weakness such as poor money management and scarce network contacts. One of the course modules was a financial planning workshop that I benefitted greatly from as it helped me become better at developing effective financial forecasting and controlling funds. Equally, a digital marketing workshop for the creation of plans to reach 1,000 customers on my first day of sales after the launch of the product will be crucial (Oluyisola, Sgarbossa, and Strandhagen, 2020).

Also, it will be crucial to get constant advice as a new entrepreneur which will be possible if I get a mentor from existing successful business people. As a part of the learning community of the course, I have already reached out to some of my mentor alumni and they helped offer tips about improving some elements of the business model and its marketing. These actions and opportunities are in stark touch with the know-how and thinking-as-doing part of my entrepreneurial learning.

Conclusion

In this reflective essay, I demonstrated how the concepts and frameworks of reflective practices explored throughout my entrepreneurial course have shaped my understanding of the experience at Eco Tech Solutions thoughtfully. The continuous experience evaluation and SMART contributing factors SWOT analysis have been beneficial not only to my professional but also to my personal growth.

I raised the issue of experience as a critical component that has to underpin entrepreneurial learning and development, which is underpinned by the Brockbank and McGill Reflective Practice model. This practice generates insight into the kinds of actions and decisions taken by entrepreneurs; it results in identifying the strengths of entrepreneurship, for instance, creativity and innovations, but also the weaknesses such as inadequate financial skills and ability to network strategically (Stevens and Cooper, 2023).

The process of self-reflection focuses on the importance of competencies as input that creates the output of a successful business, as proven by EntreComp Framework. For instance, the ethos of ethics and sustainability has become the cornerstone of the mission, vision, and core objectives the Eco Tech Solutions to help achieve profitability aligned with societal and environmental values (Ratten and Usmanij, 2021).

While working on Eco Tech Solutions’ entrepreneurial development I realised that it is rich with learning opportunities, as well as demanding and rewarding experience that provides a clear understanding of different business spheres including market analysis, financial planning, marketing, and management. The experience of implementing these ideas in practice has enriched the theoretical experience and accumulated practical experience. One project that was created covered an environmental product where the ability to design, create, and sell the water filtration system was very important due to iterative design (Colomer et al., 2020).

Another aspect is that the strategic choice of an action plan and a shift in course upon encountering the challenges is also stressed. Reflexivity was useful to enhance the critical evaluation of processes and minimise the scaled-down market acceptance while enhancing the problem-solving aspects of the team ((Veine et al., 2020).

Consistently with the paradigm of perpetual learning, there are always areas of personal and organisational growth for constant enhancement and professional goals of the company. Going to network meetings, and other training sessions focused on gaining practical skills and information on where to find a business coach can improve entrepreneurial competencies (Akimov et al., 2021). Eco Tech Solution’s focus should therefore be on increasing its product portfolio and taking its products to more customers to achieve its mission of environmental conservation. Thus, the coherent representative of reflective practice should keep an eye on what is happening in the market, making sound decisions and driving the business.

References

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