Week 14 final week

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.