Celebrating Failure

A few instances in which I can say I truly failed in this course were the times that I did not do the video assignments.  I regret not doing these various assignments because looking back at it now, I feel as if these video interviews would've helped me engage more with the market in which I was focused on getting approval from.  It was not until the last assignment that I chose to go out and take the videos of my customers speaking with me.  I handle failure by reflecting on what I did wrong that caused me to fail.  The key is to not dwell on this too much because then you dig yourself into a deeper hole that you will not be able to get yourself out of.  Once you figured out your mistakes you make a declaration to yourself that you will never make these mistakes again.  This class has definitely taught me that failure is okay.  Even though I failed to do some of the assignments I still learned a whole lot from this course.  I learned to not be afraid to display my ideas to a large audience.  I learned to believe in my idea and stick with it.  Failure is just a stepping stone to success.

Week 13 Reading Reflection

What I found to be the most interesting aspect of Chapter 12 of the textbook was the subject of "The Worth of Business".  There are a lot of ways to value a business. There's no "right" way, though you could probably come up with several wrong ones. Ultimately, the business is worth whatever you think it's worth, based on the criteria you set forth. But you can make your estimation by using several different ways to value the business and then choosing the mix that reflects your final value estimate.


Nothing really confusing to me in this week's chapter.  Everything was easy enough to comprehend.  In prior weeks there were confusing charts and such. 

Question 1: How crucial is evaluating a business the right way?
Question 2: How would you evaluate a market? 

I would ask these questions because as you can probably determine from my past posts, I am heavily interested in the ideals of the future.  I am always looking forward to what the future holds for various companies and markets in the business world.

Once again I do not disagree with anything that the author has said in this chapter.  I am beginning to see many similarities between his mindset and mine.  

My Exit Strategy

I will most definitely be passing down this business for future generations to come.  I am a firm believer that the only way to keep the true soul of company alive, you must keep the business in the family.  I have a strong connection with this concept and I could never see myself being able to give it away for any sum of money. There would be nothing better than to see one of my sons taking on this family business and making it something better than I could've ever imagined it becoming. Honestly, I haven't thought about my exit strategy until doing this assignment.  I think that subconsciously this has always been my exit strategy.  It has influenced what I hope this company will be in the next five, ten, or hopefully twenty years.  I envision this company growing and thriving in the future.