Friday, October 21, 2016

Week 6 - Priorities and Speed

Week 6. A satisfying, almost-halfway through the semester kind of week. Workloads in many classes have been increasing, but this week for this class wasn’t too bad.

I felt that this week was mainly focused on, do you really want to be an entrepreneur? There was some thought inducing videos about family and the importance of it even while creating a business. The main point in those is that you cannot sacrifice your family for the business. Your responsibility to them and to God must take priority over the business work to achieve success and happiness.

We also read an article called, “How Entrepreneurs Craft Strategies That Work” which was very interesting as well.

The article went through several ventures and some of what might be called standard criteria for opening or starting a business. There were a few interesting points on the benefits or opportunity costs of planning very well vs just diving straight in. While planning worked well for some, it didn’t work as well for others. In fact, it addressed the possibility of the idea no longer being good if one waited too long. I think that’s even truer in today’s world due to the amount of technology we have available. Just because you have an idea, it won’t stick around for you if there is actually a demand for it and there are so many people out there looking for something great to do.

Bottom line, there is risk, but if you can look, act, and take changes into stride, you could do very well.


Until next week!

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