Business Class Journal

When I first thought about all the different things that I learned this week the main thing that stood out in my mind was something that Action Hero: Gururaj “Desh” Deshpande said. He was talking about how we all set goals in life and we are working through what we need to in order to meet that goal. He said that “If you know something is possible, you can do it. But just getting the opportunity to know what’s possible is probably the biggest gift you can have.” There are so many possibilities in this life and that is what makes life so amazing! We can look at something and decide how we want to tweak it so that it makes a great business. In business there are always ups and downs which lead to many learning lessons. We are able to learn from each choice we make and to be able to grow from that so we don't make the same mistake in the future. In reading this week about what it took for the HourlyNerd business to get going it is a reminder that you really do need to have peo...

When we are beginning a new business or shall we say adventure why do we need a business plan? The business plan helps you to organize what you need and want to accomplish in your business. For each person the business plan may look a little different. That is because we are all different and we each have our own way of organizing the information we are given. In the reading this week it outlined the structure of a business plan as follows: - Cover page and table of contents - Executive summary - Business description - Business environment analysis - Industry background - Competitive analysis - Market analysis - Marketing plan - Operations plan - Management summary - Financial plan - Attachments and milestones While every business plan is different and not all follow this structure they are still very important to starting your business. Like all good plans sometimes you run into issues or delays that you didn't pl...

If you are thinking of starting a new business there are a few things that you need to make sure you do before you begin. You will need to make sure that you know what resources are needed so that you don't get in trouble for your business. Depending on the location there maybe certain laws and rules that your city or state require. I also learned about the misconceptions regarding Entrepreneurship. There are 5 main ones but the one that stood out to me was #4 - To succeed, you must produce some world-changing new product. I have always thought that most businesses began and were successful if they had a new mind blowing product that people think they need but it is just a want. This week was very difficult with all the reading and I tried to understand it all but the one thing that really stood out to me this week was the story about Tom. I was really impressed by Tom and how humble he became when learning about pride. I was really amazed by his honesty and how he openly adm...

There are a few great things that I have learned over the last few weeks in my business class. There are life lessons that were learned from a gentleman named Robert Bruce Thompson. He said that in life it is important to appreciate the people you meet, and the relationships that you form. He was diagnosed with ALS when he was only 51 yrs. old. I really enjoyed learning his prospective on things. He said he learned, "The key is not how smart you are, its not your education, its the ability to sit down and persevere." For me the most poignant thing he said was this,"Business is fun, make it fun. But business is not life, business is just a part of what we do. Our families, our relationships, our faith. Those are the things that really matter, when you get down to the end." This is such a great reminder that I need to not just focus on my work and business life but on my family, faith and relationships. In my life right now the one thing that I am learning is b...