December 16, 2016
This week was the last week of business class. We had many memories and lessons learned through out the span or this semester. Many of them I feel impacted my life for the positive. In the first book we read, it had this quote that was along the lines of "For hope without a plan is much like an airplane without an engine: it may look really nice, but until its airborne, its not achieving the true purpose of its creation." This stuck with me and I thought it was a cool quote, it made me realize that before last year, I always had the goal of being a millionaire but last year I just made a plan. Over Thanksgiving, I made a new plan that I feel is more effective. I learned more on my on time so I can apply more to my future. I learned more about liabilities and assets. One of my favorite things about that is this one thing about liabilities. It said why poor people are poor, is because they have nothing but liabilities, why middle class is middle class is because they have good income but they invest in liabilities thinking they are assets, such as houses. Houses are assets but only after the 30 years it takes to pay off the mortgage but paying the interest you pay on that is usually more than the house. A rich person is rich because they invest in assets which builds up their money over time. Hints the rich get richer and the poor get poorer. So I feel like that helped me out in deciding what I want to do. Another big take away from this class was about failure. Our whole life, through school, we are taught that failure is a bad thing. Failure is usually accompanied by scorn. So during our lives we associated failure with negativity, so people are usually afraid to fail when they shouldn't be. If you want to start a company, try. Failure is more so a good thing than negetaitve. Yes, it would be better to succeed the first time around but you really don't learn as much from that. Thomas Edision said that failure is just finding out a way that something doesn't work. So if your business fails, then you can try again, just not the same way because you know that that way does not work.
Friday, December 16, 2016
Saturday, December 10, 2016
Post 13... I think. 12/10/16
December 10, 2016
This week we read about Randy Haykin. In it he talked about how you need a partner in one's business venture. He talked about how you need a business partner that needs to compliments you, not match you. Having a business partner that matches you is pointless. You pay somebody to have the same option as you basically. If you have somebody that has the same option as you in most things, it doesn't help you and it wouldn't help you grow at all as a person or company. If you had somebody that complimented you, you would have somebody to do things that you couldn't do before. It would help your company grow, and even if you don't like their input, then they might helpful because it's not the same set of eyes looking at it which could help your company. Having somebody that compliments you is like having a puzzle piece that fits you, not like having a piece that is the same yours. Having a partner that compliments you is what will help your company grow. In your life, you should also spend your time learning. Knowledge is one of the best things you can have in your life because it helps you out later down the road. Even if it doesn't apply to what you need in business, it may help.
This week we read about Randy Haykin. In it he talked about how you need a partner in one's business venture. He talked about how you need a business partner that needs to compliments you, not match you. Having a business partner that matches you is pointless. You pay somebody to have the same option as you basically. If you have somebody that has the same option as you in most things, it doesn't help you and it wouldn't help you grow at all as a person or company. If you had somebody that complimented you, you would have somebody to do things that you couldn't do before. It would help your company grow, and even if you don't like their input, then they might helpful because it's not the same set of eyes looking at it which could help your company. Having somebody that compliments you is like having a puzzle piece that fits you, not like having a piece that is the same yours. Having a partner that compliments you is what will help your company grow. In your life, you should also spend your time learning. Knowledge is one of the best things you can have in your life because it helps you out later down the road. Even if it doesn't apply to what you need in business, it may help.
Saturday, December 3, 2016
Week 12 12/3/16
December 3, 2016
This week, we finished up the book A Field Guide For The Hero's Journey; great read by the way. Writing a book report on it, I had a realization that the main reason that people don't start their own business, is because of their fear of failure. The thing is thought, that most people fail, failure is a part of life. It is school that teaches us to be afraid of failure when all failure is, is a way something doesn't work. If you view it that way, the Thomas Edison way, I should call it, then you will never be afraid to do something. If somebody told you that if you started a business, that you are going to fail many times, you are a lot less likely to do it than if the person said, you will find a lot of ways it won't work. The problem with people is that we associate failure with negative when it is actually one of the most useful things. When a baby learns to walk, they don't "fail" a bunch of time per se, they just found a ton of ways it doesn't work, but it doesn't stop them from trying over and over again. So pretty much the realization I had this week, was failure happens, get over it.
Another thing we did this week was read "What's a Business For?" With this we got some questions. One of which was "Why are virtues and Integrity so vital to an economy. The main reason I found was that in 2001, the top 100 NASDAQ companies overstated their audited profits by S100 billion, making them look better than they actually were. The second question, "what is the 'real justification' for the existence of businesses?" The reason is for business to make a profit so they can do something better with themselves. I feel that is similar to a single person. If they are making one million dollars a year, that would be great, but if they invested it, they could make a lot more. Same with a company, if they invest their profit into making their stuff better, more people would buy making them more money.
This week, we finished up the book A Field Guide For The Hero's Journey; great read by the way. Writing a book report on it, I had a realization that the main reason that people don't start their own business, is because of their fear of failure. The thing is thought, that most people fail, failure is a part of life. It is school that teaches us to be afraid of failure when all failure is, is a way something doesn't work. If you view it that way, the Thomas Edison way, I should call it, then you will never be afraid to do something. If somebody told you that if you started a business, that you are going to fail many times, you are a lot less likely to do it than if the person said, you will find a lot of ways it won't work. The problem with people is that we associate failure with negative when it is actually one of the most useful things. When a baby learns to walk, they don't "fail" a bunch of time per se, they just found a ton of ways it doesn't work, but it doesn't stop them from trying over and over again. So pretty much the realization I had this week, was failure happens, get over it.
Another thing we did this week was read "What's a Business For?" With this we got some questions. One of which was "Why are virtues and Integrity so vital to an economy. The main reason I found was that in 2001, the top 100 NASDAQ companies overstated their audited profits by S100 billion, making them look better than they actually were. The second question, "what is the 'real justification' for the existence of businesses?" The reason is for business to make a profit so they can do something better with themselves. I feel that is similar to a single person. If they are making one million dollars a year, that would be great, but if they invested it, they could make a lot more. Same with a company, if they invest their profit into making their stuff better, more people would buy making them more money.
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