1. I would say what stood out to me the most in the reading was actually the main idea of the whole chapter. I never really knew how important financing is for a business venture. You always think how much profit you can make from owning a business, but not how much you have to put into in the beginning and all the hidden expenses that come up along the way.
2. Nothing in this chapter really confused me. As I read through the chapter I understood all the concepts and charts that Kuratko laid out.
3. I would ask Mr. Kuratko which method of financing he has used, or which he felt was the most useful. I know it varies from person to person or depending on situation but for people starting out there has to be one that sticks out over the others.
4. There was nothing in this chapter that I disagreed with! Kuratko laid out the financing to open a business well, and I especially enjoyed his idea of the great end result, taking your business public. Every entrepreneurs dream.
Showing posts with label Week 8. Show all posts
Showing posts with label Week 8. Show all posts
Sunday, February 28, 2016
Friday, February 26, 2016
Half-way Reflection
1. ENT3003 is definitely a fast paced course, and if you don't keep up or get ahead you fall behind quickly. The idea that "tenaciousness is a skill" is valid for this course, because there will be times you want to just give up and not do assignments. It's a different style course because you're literally graded on the assignments you do, so its your choice to get a good grade (which is a good thing for people who aren't great test takers). I'd say just be organized and stay on top of the material, and of course have fun with it!
2. Over the past two months of ENT3003 I have definitely developed a tenacious attitude. The experiences that most contributed to this were going out and doing the exercises where you have to interact with people. My favorite was the interview with an entrepreneur, because just from the 15 minutes I go to speak to them I learned so much. But I also didn't really know the gentleman I interviewed well, so it was a little awkward for me to contact him and ask him for a sit down. Luckily he agreed and I'm glad I went through with it.
3. The three skills I feel you should develop for this course is organization, tenacity, and patience. To make sure you give yourself enough time to complete the assignments, organization is important. Tenacity to push through and do the assignments you don't want to do. Finally, patience, to get you through those exercises that you might not enjoy but that benefit you in the long run.
2. Over the past two months of ENT3003 I have definitely developed a tenacious attitude. The experiences that most contributed to this were going out and doing the exercises where you have to interact with people. My favorite was the interview with an entrepreneur, because just from the 15 minutes I go to speak to them I learned so much. But I also didn't really know the gentleman I interviewed well, so it was a little awkward for me to contact him and ask him for a sit down. Luckily he agreed and I'm glad I went through with it.
3. The three skills I feel you should develop for this course is organization, tenacity, and patience. To make sure you give yourself enough time to complete the assignments, organization is important. Tenacity to push through and do the assignments you don't want to do. Finally, patience, to get you through those exercises that you might not enjoy but that benefit you in the long run.
Monday, February 15, 2016
The Twenty Percent
I decided to talk to the same gentleman who I did my entrepreneur interview with. Mr. Wilburn is the owner of Team Dynamo, a residential real estate team.
1. His target customers are anybody looking to buy or sell a home in the Alachua county area. His demographics are usually couples, age 25 or over and who are ready to buy a home. Since Mr. Wilburn has been in business for close to 15 years, 95% of his clients are referrals from past clients. The customers “problem” is really just not knowing the route to becoming a home owner, or they just want help with the process of buying or selling their home.
2. 3 people that I talked to that are either looking to become home owners, or have bought and sold homes in the past, say they use realtors simply for convenience and helping with the process.
3. While this business is slightly different, since it is a service business, I’d say that Mr. Wilburn does correctly know his customers problems and how to help them. Anyone who has 95% of his clients come from referrals must be doing something right, and he clearly goes above and beyond to help clients with their needs.
1. His target customers are anybody looking to buy or sell a home in the Alachua county area. His demographics are usually couples, age 25 or over and who are ready to buy a home. Since Mr. Wilburn has been in business for close to 15 years, 95% of his clients are referrals from past clients. The customers “problem” is really just not knowing the route to becoming a home owner, or they just want help with the process of buying or selling their home.
2. 3 people that I talked to that are either looking to become home owners, or have bought and sold homes in the past, say they use realtors simply for convenience and helping with the process.
3. While this business is slightly different, since it is a service business, I’d say that Mr. Wilburn does correctly know his customers problems and how to help them. Anyone who has 95% of his clients come from referrals must be doing something right, and he clearly goes above and beyond to help clients with their needs.
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