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 need human connection in one way or another.
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