Jan 15th.

I learned about the stress of making a business happen. My partner and I made a taxi service and although we didnt make sales we use all we learned in class towards this project. We brainstormed on ideas of how everything would operate.

Then making a logo, creating a name, finding the target we want to reach, marketing our business.

It was a very good experience because we actually had to operate it. Unfortunately we did not make any sales but we didnt lose money. Compititikn was also a factor in the business because of the saturation of the same business.

Overall good experience.

Jan 14th

 I learned about Growing a business and exiting from it. Also what businesses do to license their brands. This is important because you always want to be safe in case something ever happens.

Also learned what a franchise is and how franchises operate with people to want a part of a business. This is a way to make a very good living or to really destroy a business. Knowing this can help someone in the long run.

Jan 13th.

I learned about the production distribution chain that includes Manufacturer, wholesaler, Retailer, and customer. And how all these operate in a business. From manufacturer to consumer.

Also about finding suppliers and where to look for them because thats another piece that's important to find the perfect supplier for all your needs that then you give out to the market.
I actually use this already because I buy items and resell them on eBay and sometimes I even double my earnings on some products.

Jan 12th.

I leaned about how you could go on to build a business. Whether you do it alone or with help from family. Financially one needs to have money to start up and then gain money to make a profit. You can either get money from a credit or debt and or from family.

Its important knowing how much money will ne needed and from that you need to make a profit to have a successful business so it thrives to be able to pay back what you own and still have enough to cover business costs and to make profit.

Jan 11th.

I learned about that financial statements are needed. That includes Income statement, balance sheet, and Cash flow statement. This is important to know because without these statements it almost impossible to run a business successfully.

I will use this later in life since I want to own my own business and its important to know what statement are needed to see where the money is going and how the money is coming in.

Jan 10th.

I learned about the requirements to startup a business. Keeping track of the cost and have more cash coming in than going out. Also on how to describe variable cost for a business.

Also about how operating cost work and seeing and calculating how much profit I will have. And how important it is to set up a financial record for your business.

I will use this later in life because even if it is just a home its important to keep records of a simple budget sort of thing.

Jan 7th.

I learned about what what a business plan is and how to describe it. Also why its needed, it saves time ad money, key to raise capital, serves as an operating guide.

I also learned what the components of a business plan. As in cover page, executive summary, mission, etc.

I will use this knowledge of know what the business plan is for because later in life I know info want to have my own business and know what goes in a business plan.