Lessons
Concepts of Entrepreneurship The five concepts of entrepreneurship I learned that I didn’t know before were feasibility analysis, promotion, financial statements, sole proprietorships, and Market penetration strategy. Feasibility analysis is important because it is an evaluation for a products/service overall appeal. I noticed that it’s a great tool to know if a business is usable or not. I will use a feasibility analysis in the future when I decide to create my own business. This tool will tell and help me understand if my business will be convenient. Promotion is one the important keys to a successful business, because if your ad’s not posted anywhere, how can you gain any profits or attention? This is why promotion is important. …show more content…
The three major statements included are income statement, balance sheet, and cash flows. The one that sparked to me the most was the income statement which is all also described as the profit and loss statement, and statement of operations. It’s engaging to know the probability of a company. I learned that a sole proprietorship could be difficult to handle. First of all it is a business owned by one person. However, most of the successful businesses are sole proprietorships. The benefits of it is its easy to start up, and being your own boss. The disadvantage of it is unlimited liability, which means the owner having to be responsible for all the debts. In addition to that another drawback is slight management skills. That is to say owners tend to hire the wrong employees, and fail on giving out the wrong salary causing a financial issue within the …show more content…
It helped me get a better understanding of what I was trying to create, and what I wanted to tell. In other words, learning each concept of entrepreneurship improved me to produce an incredible service. Also, It encouraged me to create it in the future and be firsthand with every single aspect of the brand.
Writing Skills This course did required more writing than my others, but improved my writing a tad. In fact it has expanded my vocabulary, and surpass my normal grammar. I got enough feedback on the concepts, but not too much on structure. I feel like my business model was a bit unorganized but filled with great details.
Research
The research requirements were much less than other classes like English, and business. It was a breeze compared to those courses. It wasn’t too heavy or too light which was great, because research is not my strong suit. Overall, it was useful to learn how to cite properly.
Assignment Difficulty The most difficult assignment for me was the financial statements. It was difficult picking out numbers that are great and authentic. I had to check about three times to see if it was understandable. On the other hand, it was great to imagine the numbers, and how it will look like in the future to see if was the business was successful or not.
Pros and
Concepts of Entrepreneurship The five concepts of entrepreneurship I learned that I didn’t know before were feasibility analysis, promotion, financial statements, sole proprietorships, and Market penetration strategy. Feasibility analysis is important because it is an evaluation for a products/service overall appeal. I noticed that it’s a great tool to know if a business is usable or not. I will use a feasibility analysis in the future when I decide to create my own business. This tool will tell and help me understand if my business will be convenient. Promotion is one the important keys to a successful business, because if your ad’s not posted anywhere, how can you gain any profits or attention? This is why promotion is important. …show more content…
The three major statements included are income statement, balance sheet, and cash flows. The one that sparked to me the most was the income statement which is all also described as the profit and loss statement, and statement of operations. It’s engaging to know the probability of a company. I learned that a sole proprietorship could be difficult to handle. First of all it is a business owned by one person. However, most of the successful businesses are sole proprietorships. The benefits of it is its easy to start up, and being your own boss. The disadvantage of it is unlimited liability, which means the owner having to be responsible for all the debts. In addition to that another drawback is slight management skills. That is to say owners tend to hire the wrong employees, and fail on giving out the wrong salary causing a financial issue within the …show more content…
It helped me get a better understanding of what I was trying to create, and what I wanted to tell. In other words, learning each concept of entrepreneurship improved me to produce an incredible service. Also, It encouraged me to create it in the future and be firsthand with every single aspect of the brand.
Writing Skills This course did required more writing than my others, but improved my writing a tad. In fact it has expanded my vocabulary, and surpass my normal grammar. I got enough feedback on the concepts, but not too much on structure. I feel like my business model was a bit unorganized but filled with great details.
Research
The research requirements were much less than other classes like English, and business. It was a breeze compared to those courses. It wasn’t too heavy or too light which was great, because research is not my strong suit. Overall, it was useful to learn how to cite properly.
Assignment Difficulty The most difficult assignment for me was the financial statements. It was difficult picking out numbers that are great and authentic. I had to check about three times to see if it was understandable. On the other hand, it was great to imagine the numbers, and how it will look like in the future to see if was the business was successful or not.
Pros and