Week 13 Reading Reflection

1) What was the biggest surprise for you in the reading? In other words, what did you read that stood out the most as different from your expectations? 

I never understood the value of determining the value of your company. Then again, I don’t have very much understanding for entrepreneurship in general. This chapter made me realize how much work starting up a business is. The entrepreneur has to analyze so much in order to make decisions. They have to predict and hope for the best in most cases. The due diligence evaluation is extremely extensive and truly analyzes each piece of the business which is a lot in my mind.

2) Identify at least one part of the reading that was confusing to you.

The section discussing the letters of intent was a bit confusing to me. I have no prior understanding of anything in this nature so I found myself having to thoroughly read this section. There were many parts of the LOI that I had to re read to understand the concepts of each better.

3) If you were able to ask two questions to the author, what would you ask? Why?

First, I would ask the author how much time does he think the entrepreneur should set a side in determining the value of the business. How important is knowing and understanding the value of the business. After reading last weeks’ chapter, I almost feel like the value must be discovered and analyzed before the strategic plan can even be made. So I’m curious to see what the author finds the most important.

The second question I would ask would be do you think every business should understand the value of their business? This is similar to the first question, but I’m curious to know if the author feels that every business should go through this process, or only certain types of businesses.

4) Was there anything you think the author was wrong about? Where do you disagree with what she or he said? How?

I don’t disagree with anything the author said. This is my first time learning anything about business of entrepreneurship so it is very difficult for me to refute a textbook. Especially because this author is so convincing and seems to use hard facts and sources to back himself up.