Week 13 Reading Reflection

• Something that surprised me while reading this week was the concept of "rollup." That was a very new term for me. I learned that it's how new companies avoid the "growth pains" of starting a new business. 

• I did not find any part of this reading confusing. I found it to be a very straight forward read.

• What is an ideal way of handling the control factor when one is in the process of purchasing a business? My second question is how much should the evaluations between a large company differ from those of a small company?

• I did not find myself disagreeing with the author at any point. It was an overall very interesting reading.

Celebrating Failure

1) Something that I have repeatedly failed at this semester, as much as I hate admitting it, is attendance. At the beginning of the semester I was doing so well! I was extremely productive. Working out and waking up early enough to make breakfast before class! Not, I'm amazed if I even wake up before 1 P.M.

2) I learned that I am having my days pass me by. Also, that I'm paying for an education that I am highly neglecting. I'm paying for classes, but I'm not going to classes. Im paying to learn, but in the end I am having to teach myself.

3) Failure is certainly something that makes me self-conscious and embarrassed. I've changed the way I now perceive failure, thanks to this class and certain people that I've met this year. Before, I would convince myself that I did not care about the outcomes but it was also because I was not trying at the time. Now, I'm trying harder, and finding myself accepting failure a little harder than I used to. However, in this case it's a good thing. The fact that failure impacts me now means that I recognize that it's something I must learn from and no longer just something that I brush off and ignore. This class has certainly changed my perspective on failure and has motivated me to take more risks and learn from the failures.

My Exit Strategy

1. My exit strategy, for me, greatly depends on the venture. Up to now, I've only discussed my idea of an application that helps promote brands and bloggers. However, I do have another venture goal of eventually starting my own makeup line. When it comes to the application, my exit strategy would be to sell the business for a large return within the next 5 years. The makeup line, on the other hand, I would turn into a family business and pass it down to my children.

2. I selected these particular exit strategies based on my passions. The application is a nice idea, something useful, but I could not see myself working on it for very long. I would rather sell it and invest the money on the beauty line. Which leads me into my other exit strategy. I would turn the makeup line into a family business because it's my true passion and I want to continue having control over it. Also, its something that would continue to change over the years so I know I would not lose interest.

3. My exit strategies definitely influence my grown intentions. With the makeup line, I'm thinking of consistent and longterm success. Therefore, I would make decisions with much more care and work on making several strong connections. I would treat it with far more respect and time. While with the application, I just want it to be great for now. Obviously try to make it as great as it can be, but I do not intend to spend as much time and dedication on it since it's end goal is to be sold.

The pictures attached are from my beauty blog to show my passion for makeup and my future line:

https://www.instagram.com/evicitta/

Week 12 Reading Reflection

• I was not all that surprised by this weeks reading. In my opinion, it all seemed like common sense. Only surprise I found were the examples the author provided when explaining what could go wrong when strategic planning is neglected.

• Again, I found this section to be very much like common sense so I did not find any part of this reading confusing. I found it to be a very straight forward read.

• When does an entrepreneurs company begin to see significant profit? Also, if a company is failing, from your experience, what should be the go to strategic planning approach to attempt to rescue it from failure?

• I did not find myself disagreeing with the author at any point. It was an overall very interesting reading.

Week 11 Reading Reflection

• Something that surprised me while reeding this journal was the fact that up to now, I always thought there was just one office or department in a company that was in charge with innovation strategies. Instead, innovation strategies are something that should be practiced at every point of the business process.
• I did not find any part of this reading confusing. I found it to be a very straight forward read.

• What's the best way to approach a failed innovation strategy? What are some of the most successful innovation strategies that you have seen very rarely fail? I believe that responses to these questions would help companies have a clearer idea of how to tackle certain strategy losses.

• I did not find myself disagreeing with the author at any point. It was an overall very interesting reading.