Ray Monroe had honest intentions of venturing into the locksmith industry and started something of his own, despite having the opportunity to sit back without working. However, there were a few things that he took for granted, and it resulted in a setback for A. Monroe Lock and Security Systems. It is unfortunate that a person who was smart enough to use his Middle name, Arthur, to appear before most of his competitors in the yellow pages, would be reluctant to diversify despite stiff competition. Entrepreneurs need to be prompt enough to find opportunities of gaining a stronger hold in the market, and despite it being a challenging process, an entrepreneur never shies away from taking risks and deciding opportunities in the market (Hisrich & Kearney, 2012). The three communities in which Monroe offers his service in the greater Boston area, Newtown, Needham, and Wellesley, have 37 locksmiths offering similar services. The very thing which he needs to revise on his business plan is not to limit his services.