Entrepreneurial Class Week 8

Lessons learned:

We are the only ones who can create our own destiny. I need to make smart decisions and be ok with taking calculated risks. It is ok to listen to people and their advice especially when it is very negative. This helps me to know other things to look for in starting a business. Negativity never pays off but being able to look at all sides of the situation is a good idea. 

Ask lots of different peoples advice who are in the industry about what I am wanting to go into. Ask the right kind of questions. Would they do it all over again? What was different than they expected? Was buying a franchise the right thing for them to do? 

There are three things that can grow a business 1. Increase the number of customers 2.Increase the frequency of purchases 3. Increase the average number order. 

Work on consistently executing the brand.

Always keep pushing forward the Lord will open doors. 

Don't underestimate me or the Lord. 

Behind every technical problem, there is a human problem. Find out the root cause. 

Trust in God for good things to come. 

Lessons to research more:

Look into how you run numbers on buying a business, specifically a franchise. How long would it take to pay off? Can we make the monthly payment starting out? How hard is it and is it a good idea to manage/own a company out of state?

How to find the right person for mentoring? Success is so much about finding the right mentor, but how is that really accomplished?

Stay positive and read success stories of people over 40 who have changed their life and been successful.