Wednesday, January 27, 2010

John Goodman presents to class

I definitely liked John she really got me fired up, I really want to start my own business now, before she spoke to the class I was only going to work for another company, and I still plan on working for another company until I have enough experience to start my own business. I want to make sure that when I do start my business I am prepared and wont make silly mistakes that could lead the business to fail. I will definitely follow the steps she put down such as after I have a good business in mind and write out all the details and I do mean details for a good business plan then talk to a lawyer and if your going to be a corporation instead of paying him offer him a percentage of the company something like one or two percent, that way he is not just looking out for your interest, he has to worry about his share in the company so he/she will work hard to make things work. The next thing you need to do is get a board of advisors and again this depends on what type of business your starting but if you’re a corporation then you would offer them portions of your business and they would be the people you would answer to and look to help you make decisions. If you’re a small mom-pop business then you don’t want to pay people to be your advisors you are going to want to find reliable, experienced people and buy them lunch every once and a while just to pick there brain so you can keep your business on track. I really only covered a few basic things John went over she was really very interesting, I will definitely research a business that I would be passionate in.

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