1. What surprised me in this chapter is how much accounting and math you have to know for your entrepreneurial venture. In the beginning of this chapter, it goes over basic accounting principles for owning and running your own business. I know a lot of this from the different accounting and finance classes I’ve taken, but I was trying to imagine someone who had never gone to college starting their own business and how tough that could be. I know many of the famous entrepreneurs didn’t attend college or dropped out, so knowing all about how to run a business had to have been learned on the way, which to me seems like an even tougher challenge.
2. One thing that was a little confusing for me in chapter 11 was the Dynamic Manufacturing Production Budget Worksheet. I had never seen anything like it before in any accounting class, so it was new to me and took me a little while to understand what was going on exactly. It is essentially giving you the total production requirements, but it doesn’t show you whether its adding or subtracting and is an overall strange graph.
3. If I had a chance to ask Kuratko a question I would ask when these principles start becoming detrimental to your business. For example, when you’re first starting out how important is tracking your finances compared to when you’re running an established business. I know it’s always important to keep on top of your finances, but I know people who own small service businesses that don’t do any of this.
4. There was nothing in this chapter that I disagree’d with. It all seemed straight forward and logical and I had no complaints!
No comments:
Post a Comment