Class - Small Business Creation - Journal Reflection- Week 3 – Due Diligence
Business Models – This is a guideline to how you should run a business. I like this because it means you are able to change it on the fly when need be. Decision Making - I really like the decision matrix. I like if I am stuck on a decision and have 2 or more options that I can lay out the pros and cons together in a spreadsheet and choose the best one based on numbers. Financial Statements – I am learning that these are great tools to see have well your business is doing in the past and in the future. Spreadsheets are amazing. Internal & External Analysis Tools (i.e. Google Trends, IBIS World, BizMiner)- I don’t have an option one way or another on this as we could not access these tools. Networking – As it has been said in the past, “It isn’t what you know, it’s who you know.” Meaning if you don’t know how to fix it or the answer someone in your network or their network will. My favorite one out of all of these is Networking. It proves we all ne...