Small Business Creation- Week 10 - Refection Journal

 E-Myth Part 2 - I was very intrigued by the Strategic Objective and its standards.

Strategic Objective is what your business can achieve for you.

The First Standard - Money, Gross revenue.

The Second Standard- an Opportunity Worth Pursuing and the other standards are left up to us.

I think this was the best concept I read about in chapters 12-19.  In my own business I am not really doing Family History work of money. I am doing it to help others and to fulfill my need to research family history to unravel a mystery. The money is to help me break even with the costs.  I do it because it's my passion and I can make money doing it. For me these two standards feed each other.

Finding a Business to Partner- Finding a business partner is harder than I thought it could be. You must find someone who has the same vision and passion as you do in order to go into business with them.

Case Study - Jamaican Family Robinson- I have learned from this Case Study never go into business with family. The fighting and the destroyed relationships is not worth the stress and heartache.

Case Study California Berry Fruit- I learned from this Case Study that you need to talk to anyone and everyone (do not be afraid to open your mouth) to promote yourself and your business. Building trust in the local community is the number one priority we should have as entrepreneurs because without the community’s trust and support you will not far in the local economy.

Business Partnership Presentation – For once I really enjoyed working in a group project. We all showed up. We all participated, and it was fabulous.

Business Plan- This class helped me realize that a business plan can be a very simple and short document. One that can be changed as the business grows.