Shark Tank: Mr. Todds Pies

In the episode Todd Wilson came to the Shark's Tank and wanted a loan so that he could save his company because he could no longer keep up with the damand. For 10% of the company for $460,000. He had a wholesale part and a consumer part. He had fast food company that wanted to sell his pies. This fast company is better known as McDonalds.

In the end he ended giving up 50% of his company for the total amount that he wanted, but at what cost.

I really dont think that the Sharks should tooken the offer because he wanted to much money and the percentage was all wrong. I think that Mr.Tod was just being greedy and that the amounts that he made were all wrong.

Rockefeller Family Values

Today we learned about the Rockefeller family and there values. What I thought that was amazing is when they said the money didnt change how the family reacted to one another. They were raised the same way, with strictness. One thing that really made me wonder was that the fact that John D. Rockefeller was never concerned with the amount of money that he made, it was always about the money that he saved. That and always keeping track of where his money went, what he gave away, and the money that he made.

What I have learned today

Today in class we had a guest speaker. His name is Mike Kind. He is an entrepenuer that was no older than myself when he decided to go in to business. I have learned today that it takes perserverence and dedication to make a business work. Sometimes if not most times there will always be failure and to not get to discouraged by it. Sometime a business will not work out for an individual but one needs to keep pursuing it.

The words that describe my strengths

Some of the words that describe who and what I am are: being a team leader, i love to be in charge and be able to help the people that I am working with so that everyone there gets a chance to do new things and see the end result of something. Another couple of words that best suit me are down to earth, relaxed but and the same time I have very little tolerance for mistakes, especially little ones that could very well have been avoided. I am a really easy going person that loves to try new things and see new places but I also can not resist a challenge. I am very social, with many people from different backgrounds and cultures. Also I am full of enthusiasim and energy.

Strength

Strengths of mine include:

• i am not easily discouraged
• i will lead a group with assertiveness
• is very goal orientated
• do very well in tight situations
  

Inspirations from Richard Branson

I think that someone that can make 1million dollars a day for each day of the year is quite incredible. I also think that it is quite remarkable that he was able to drop out of school when he was 15 years old and that does not know as a business man the difference between net income and gross income. He also went to regular schooling so his education is not really anything special. It was amazing the amount of business that he owned and operated. He owns a little bit of everything. Some of them are the cell phone company, to the airline, to even vineries. He is also starting to develop a new space program that will allow people to pay to go into a space shuttle and be launched into space. It seems to me that some of these ideas are kind of out there and they do not seem like they will work, but I learned that entrepeneurship is all about taking risks for high profits. If a person is not a risk taker, then there is no money to be made from their ideas and that is where people like Richard Branson and William Gates 111 make money from people that are to scared to try.

The Spirit of Enterprise

Today I was reading an article on "How to kill the Entrepeneurial Spirit" by Larry Farrell. In the article there were several ways for a person to start a great Entrepeneurial business. They are four different things to become successful: 1) is to create entrepeneurial job description for everyone meaning that not everyone has just one job and that they can be flexible, 2)transform your customer people into product experts, 3) transform your product people into customer experts, and lastly 4)transform your administrative people into product/people experts. Keeping everyone on their toes is a good way for a business to stay connected where everyone is treated equally and that one person is no better than another. There should only be three questions that you ask yourself to be a good entrepeneur. They are: one, who are my customers and users, two, what are my products and services and how can they help, and third, what exactly do I have to do to satisfy my customers.

Where I Learned Confidence

While I was trying out for the volleyball team I was a little nervous at first because I thought that the girls that were on the team where much bigger, faster, stonger, and overall better players than me so I felt that there was no point in trying out for the team. My dad was there to encourage me to do my best in everything that I do. He suggested that I try out anyway and I did. I then realized at the try out thats every girls there had their own weakness and that I was not the only one. I ended up making the team and have not regreted it since.

Another experience that I had was when I started in the retail business selling phones it was a new experience for me and I was not very good. Although over time I was able to get better at it with help from my co-workers and I learned some very valuable things while working there. It also taught me that unless someone really knows what they are talking about I do not have to really worry about being corrected and made to look like a fool.

First day of Entrepeneurship class

In my first day of class I have learned that no matter what life throws at you, it is always just best to make the situation the best that it can be. Also that entrepeneurship is one of the best ways to bring hope back into the economic situation and slightly improve the economy. We were also watched some very inspirational video clips about people overcoming trials and tribulations.

My favourite quote in life is "It is better to light a candle than curse the darkness"-chinese proverb. Hopefully tomorrow is just as fun.