Week 3

After completing the readings and assignments for the week, I now have a better understanding of the importance of a business plan.  This document, if put together correctly, will make or break a potential investment deal.  It is vital to do the research and homework and provide in detail the plans for the potential business.  Completing the case study and discussion boards this week were invaluable.  It was amazing to start out with one opinion at the beginning of the week, but after reading and discussing with other students, I was able to get a clearer understanding from a different perspective and changed my mind. 

I found the article on “How to Avoid Common Startup Mistakes” very useful and practical.  The point that really caught my attention was the reminder to stay on target.  So often, people have these fantastic ideas that are the next big thing.  Unfortunately, they often lose interest or sight of their goals too soon and find themselves off target with their adventure.  It is important to stay focused, yet be flexible for any hiccups along the way.  As Richard Branson said, “A successful entrepreneur will constantly adjust course without losing sight of the final destination.”