Celebrating Failure

A time that I failed this semester was an exam in business law. I decided not to study for it at all since I was allowed my notes and books. What I learned from this is that is lie. Don’t fall into that trap. So after my first exam, I learned that you had to read the readings and watch the lectures. I did this for my second exam and the results where a lot better. What I think about failure is that it is good occasionally because it makes you want to try harder and do your best for the next time.  When I fail at something it makes me freak out for about an hour but after that I realize that I just have to be more prepared for next time. This class has helped me realize that failure is kind of a common thing and that it isn’t always bad.

Week 13 Reading Reflection

 

The reading this week, what stood out the most was that there are so many different ways to evaluate the value of a company to ensure you get either save the most money when creating one or get the most money if you are selling your venture. One part that was confusing me where the different ratios of how to calculate the value of the venture. The questions I would ask are 1. IS there a way to explain the ratios better? 2. How can you better avoid the process of misevaluating the business? For the reading there wasn’t anything I disagree with besides how he could better explain some things.

My Exit Strategy

My Exit Strategy

The exit strategy that I plan to make is to sell my business or idea in the next 5 years. I chose this plan because I don’t think my business has the potential to grow with technology constantly changing. However, I do believe that if sell this app or concept to a larger company such as eBay or Amazon they would be able to make it grow and create a larger profit. I think by having this strategy, it has caused me to not focus too much on how I would make the business grow but rather focus on the details of how I would make it more attractive for future buyers.