Week 13 Reading Reflection- Rachel Mead

1) What was the biggest surprise for you in the reading? In other words, what did you read that stood out the most as different from your expectations? 

I really liked that in this chapter, the author provided many examples of each topic he was addressing such as "Due Diligence Evaluation", "Checklist for Analyzing a Business", and "Methods for Venture Valuation". This helped make his points clear and organized. 

2) Identify at least one part of the reading that was confusing to you.

I got confused when the author wrote about the discounted earnings method. I understood his explanation about why products lose value and therefore money, but I was unsure what the definition of the discounted earnings method was. 

3) If you were able to ask two questions to the author, what would you ask? Why?

I would ask the author if he believes there were any businesses in the past that have failed that would be more successful now. I'd also ask if he thinks there are current failed businesses that would be more successful in the future?

4) Was there anything you think the author was wrong about? Where do you disagree with what she or he said? How?

I may not have understood the author but when he talks about avoiding start up costs, he states that even if you pay a higher price for your start up, it's still lesser than what you should be paying and I found that somewhat contradictory. 

Celebrating Failure- Rachel Mead

1. The first thing that comes to mind when I think of failures this past semester is Calculus 1. I mean I LITERALLY failed and had to drop the course. Despite attending office hours, earning extra credit, seeing a tutor every week, and using MANY online resources, I still could not pass this class.

2. I've learned that somehow, it will be okay. Although I have some pressure to complete my critical tracking requirements, my adviser gave me guidance and I have a plan.

3. In general, failure is hard. However, it's a part of life and a reality we all face. And if you're willing to accept that fact, it isn't the hardest thing we have to deal with. It can in fact, be one of the most beneficial things that happens. Not only am I better prepared to retake this course, but it's also helped me realize I really need to bring my game for other classes as well. As for this class, I think my risk taking skills are about the same, but I have definitely become more confident interviewing people and asking questions.

My Exit Strategy- Rachel Mead

1. In the next five years, ideally I would like to sell my business.
2. Because I have other businesses I would like to run, my goal would be to create this business and make sure all the details are worked out so that I can ensure it will be successful under the supervision of someone else.
3. This decision has made fine tuning the program a priority so that it will stay in business. I know as a start up, it won't be perfect and there's a lot of planning and adjustments to be made but as soon as those are perfected, I think everything will flow smoothly for the future owners. I believe new management can be a good thing when the right choices are made so this program will under constant development. However, I will leave it stable so that we can continue to use the same resources and simply add more.