Sunday, March 20, 2016

Week 10 Reading Reflection

1.) The biggest surprise for me was seeing that knowing when to walk away was a tip related to securing funds. As the post pointed out, I had a traditional thinking where customers are always profitable.

2.) One part of the reading that was confusing to me was the concept of owner equity. I had a hard time grasping what it actually meant.

3.) One question I would ask the author is what characteristic is better to have in a financial statement. Is it better to be realistic or precise? Also, which stage of preparing financial budgets is the most difficult to map out for larger business. Is it operating or cash flow budget?

4.) I disagree with the author in making noise is a good tip to help secure funds. I think that in the short term it does help you receive your payment, but it could hurt in the future. The customer might not like being pushed to pay and might tell others to avoid working with you.

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