1.) What I was surprised to see the most in this chapter was that there is a method of venture evaluation only for last resorts. I didn't expect there to be a specific method just for one sort of scenario.
2.) I had a hard time understanding the idea of dividend preference. In the book, I don't think they provided a good definition for it. Also it didn't have an idea of what a common and preferred stock was.
3.) One question I would ask the other is does he think that Facebook will still be profitably and have growth in the future? Does it seem more likely that it will fade away like things like Myspace or digg? Also, is there another website he believes is valued way more than its actually worth? Facebook was thought to be too highly valued, is something like twitch or another site similar?
4.) I don't believe emotional bias is a common issue, or at least one that is big enough to warrant its own section in the book. If an entrepreneur can keep a business running for a while, they have an understanding of how their business fairs with their competitors. The only time this could really apply is if your company is as huge as Facebook. I don't think a small business could have this issue.
Showing posts with label Week 13. Show all posts
Showing posts with label Week 13. Show all posts
Saturday, April 9, 2016
Celebrating Failure
1.) A friend of mine asked me to help them edit a video. They asked me to take 45 minutes of footage that they had and cut it down into 2 minutes so they could use it for a presentation. I had a lot of late nights trying to make a video that worked, but with each new version of it I always say something wrong with it. There were simple things like awkward transitions, bad audio, the green screen was noticeable, and then there were more complex things, like the video didn't have any flow or was too all over the place. After weeks of working on it, I finally got it done. My friend was satisfied with it but after all the work I still wasn't happy with it.
2.) From this, I learned that things are never perfect. I spent so much time trying to make every detail in the video work, even though they never could be. Also, as long as a customer is happy you should consider something a success.
3.) I think in whatever we want do in life, we must experience failure in order for us to succeed. Experiencing failure makes us better at things. We become better prepared to tackle the challenge. The way I handle failure is accessing whatever I do wrong and trying to figure out why it happened and how I can make sure it doesn't happen again. Emotionally, I just let it eat away at me. With this class, I've become more likely to take risks. Looking back at the interview assignments, I was afraid of failing but after going through with them, even when they went bad, I feel better prepared for doing something like it again.
2.) From this, I learned that things are never perfect. I spent so much time trying to make every detail in the video work, even though they never could be. Also, as long as a customer is happy you should consider something a success.
3.) I think in whatever we want do in life, we must experience failure in order for us to succeed. Experiencing failure makes us better at things. We become better prepared to tackle the challenge. The way I handle failure is accessing whatever I do wrong and trying to figure out why it happened and how I can make sure it doesn't happen again. Emotionally, I just let it eat away at me. With this class, I've become more likely to take risks. Looking back at the interview assignments, I was afraid of failing but after going through with them, even when they went bad, I feel better prepared for doing something like it again.
Tuesday, April 5, 2016
My Exit Strategy
1.) My exit strategy for my venture is to stick with the business for several decades, and then when it comes time to retire I find someone to replace me.
2.) I choose this exit strategy because my venture is all about creating different kinds of products. There isn't a one certain thing that this business does, it always something different. My first product was on key chains and my next product was a phone case. I think this inconsistency in what products my business makes would make it hard to sell. Also, I would like to keep control of my company.
3.) This exit strategy has influenced my venture concept by making it that I keep things small. It influenced how small of a staff I'm looking for. This exit strategy has influenced how I identify an opportunity. They would be ways to not only expand the reach of my products, but also way to keep things easy for a relatively small business . So I'd look to have partners in almost every aspect of the business to help me.
2.) I choose this exit strategy because my venture is all about creating different kinds of products. There isn't a one certain thing that this business does, it always something different. My first product was on key chains and my next product was a phone case. I think this inconsistency in what products my business makes would make it hard to sell. Also, I would like to keep control of my company.
3.) This exit strategy has influenced my venture concept by making it that I keep things small. It influenced how small of a staff I'm looking for. This exit strategy has influenced how I identify an opportunity. They would be ways to not only expand the reach of my products, but also way to keep things easy for a relatively small business . So I'd look to have partners in almost every aspect of the business to help me.
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