Friday, January 22, 2010

Ron Kornfeld from Nimble Source

I found Ron to be very interesting, and diverse in the since of business, he brought up a lot of good points to think about for our business plans, for example who is the business plans audience, who will be the ones reading the business plan, and what we need to do is tailor the business plan according to who will be reading it. If I am going to an investor for money then my business plan has to be centered on my finances, such as what my costs will be, my net income, so forth. One thing that Ron brought up, that I really never thought about before was what the worst thing that could happen to a business, and I found out that it was not if it failed, but if you had customers buying your products, and suddenly you were going out of business with no way to help your employees, or to repay your investors, in this case your not hearting only the business or your self, but other people. If a business was to fail, it should fail at start up when the only thing that is at stake is your time, and maybe a little of your own cash. I was glad to have Ron as a speaker he shed some light on a few questions I had, and made me think about how the internals of a business work.

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