We had guest speaker Graham Evans present to our class on Tuesday 1/28/14. Graham brings many years of entrepreneurship experience with him and helped to give me more perspective on how to put together a business plan in an hour.
I took away a lot from this class! I was a little lost when it came to how to determine the value of a business idea. Once he asked for ideas and many of us shared ours (8 I think in total) and our class voted on the 1 idea we were going to expand on in class that day to build up as a business, things became much more clear. I was very surprised at how many things you have to think about before moving even 1 dollar towards your project. Such as having an understanding of breaking up the business model into 9 categories that account for the costs, partnerships, employees, tasks, services, etc. This was what I needed to know what model I should put any idea through, in order to know if its worth my time.
I also enjoyed him taking the time to show us that some businesses (even the one we worked on in class) can fall apart right before you even get it going, as many questions need to be answered first. For example, knowing where the money would be made in our electronic recycling business idea. It didnt manifest into what we all initially envisioned.
When formulating my business plan for this course, I intend to draw a lot from Grahams discussion and will use his business acumen thoughts to not be short sighted in my endeavors.
No comments:
Post a Comment