Last E Journal for class

                Timing, timing is just as important to money when you are thinking of starting your own business or buy one up. This is something that needs to be thought of and seen that if you are in the market of everyday life or just on the holidays. You need to research the area that you want to work and grow in to know that this is the area that is right for you.

 If you are looking in to starting a business up with your family, just remember that you need to have set boundaries of when it’s time to do the family things and business things. There are too many family business that start up and do not last long for the two get mixed together that no one wants to work together.  Do not get me wrong the family business is a great thing and some are very good at running and staying ruining for they know how to keep the family out of the business and vise a versa.

The business plan is very important as well. This is the plan that you will set up that tells how you plan to run the business and the goals that you want to reach while running the business. This will take a lot of time to do and should be well thought of.

The 100 dollar challenge is done with and I did not make any profit at all. I was asked that even though I did not make any money if I learned from it. The answer is yes. I learned a lot of how to start and run a business and I think that it would have been profitable if I stuck to timing everything right and was open for longer.

E-journal

This week we talked about failures and how they are not bad and I think not matter what you do you can not avoid them at first. We can always learn from failures and they can make us better. I think of Thomas Edison when he had tried so many times to make a light blub. Thomas failed so many times, but he looked at it that he found ways how to not make the light blub and then he found the right way and it is still in use today. I like His attitude about this for if he just gave up then who know what would have happened to the history that we know today. We also talked about Steve Jobs, he was a good man that has worked hard. I thought that it was interesting that he dropped some of his classes and took a writeing class. Steve said that this is what he use to set up the apple.  After this lesson I know that all the trails and failures that I will go through will make me into a better person.

E- Journal

This week was a great week to learn a new thing about owning your own business. The subjects that we talked about and leaned this past week are family business take over and buying a business. There are things that we need to keep in mind while look into buying a business that is already running. The first thing is that it will take more money to buy it but the customer base is there. The bad thing about buy a place that is already set up is that you don’t know what the people think about that store or if the store owes more money then you want to get into. We talked about what we need to be careful about a family business and taking over a family business. There too many families that start a business but fail. The most reason why the family business are not successful is that there is too much family in the business. I mean that the owners will let family work in areas that they are not the best at because its family and they needed a job. Or all the time the family has is given to and talking about the business and what to do with it.