Sunday, March 20, 2016

Week 10 Reading Reflection - Financial Preparation for Entrepreneurial Ventures

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 was surprised by all the essential details of the required financial knowledge that this chapter gives to the student. I am a business administration student and I’ve seen the different financial components for about 3 years now, and I can say that this chapter provides one of the best summaries of the financial means that every entrepreneur must know before starting a business.
2)      Identify at least one part of the reading that was confusing to you.
I understood every aspect described on this chapter. The only thing that I believe should be explained in a more detailed way should be the part where the author describes the preparation of financial budgets and the differences between them.

3)      If you were able to ask two questions to the author, what would you ask? Why?
I will ask the author the following questions:
1.      Would it be helpful for an entrepreneur to have a financial assistant who could provide the entrepreneur with help on keeping the financial aspects of the venture well managed, or is it a cost that should be avoided?
2.      Do you think that having a financial knowledge previously to starting a business affects the success or failure of the business?
This questions would be helpful for entrepreneurs and instructors as they would provide answers that could help the way in which entrepreneur is being taught today
4)      Was there anything you think the author was wrong about? Where do you disagree with what she or he said? How?
No, I believe that the author provided a great summary of the key points that all entrepreneur should have in consideration before starting a new venture.


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