BUS110 Reflection: Entrepreneurial Journal Blog

  This week we learned about the possible legal structures of business, and we also reviewed the license and tax obligations that we will incur. Some of the main differences of the different business structures pertain to the tax responsibilities, ownership, and liabilities. The two most viable options of business structures for starting a small business are, in my opinion, limited liability company (LLC) and sole proprietorship. An LLC is a general partnership in which no member is individually liable for the obligations of the company. The LLC consists of members, managers, and employees. LLCs are created by filing a Certificate of Organization. Sole proprietorships are formed by persons that own all or most of the business property and assets. A sole proprietor has the right to make all the management decisions and is also liable for all the obligations of the business. No formalities are necessary to form a sole proprietorship, it can be created simply by starting to conduct bu...

  I enjoyed reading about the student's assessment of Weebly and agree with what he said.  However, I chose Yahoo Sites since I have previously used it (when it was named Site Builder) and am familiar with its abilities.  I should be able to quickly pull together a new website based upon my knowledge and prepare it for publication sooner.  Yahoo also has the ability to accept PayPal for services (which I'm using rather than products) and have the ability to receive information from clients via e-mails to my business address.  The others have the same ability, but as I said, since I'm family with an application already, I'm going to choose it again going forward. The first thing that took my attention in Weebly is how easy it is to build a website; it is just dragged and pasted. I also like how Weebly looks. I have never built a website before, and, after playing a little bit with Weebly, I thought it was easier than the others. The second criterion that I though...

 I enjoyed reading about the student's assessment of Weebly and agree with what he said.  However, I chose Yahoo Sites since I have previously used it (when it was named Site Builder) and am familiar with its abilities.  I should be able to quickly pull together a new website based upon my knowledge and prepare it for publication sooner.  Yahoo also has the ability to accept PayPal for services (which I'm using rather than products) and have the ability to receive information from clients via e-mails to my business address.  The others have the same ability, but as I said, since I'm family with an application already, I'm going to choose it again going forward. The first thing that took my attention in Weebly is how easy it is to build a website; it is just dragged and pasted. I also like how Weebly looks. I have never built a website before, and, after playing a little bit with Weebly, I thought it was easier than the others. The second criterion that I thought...

 One thing I learned this week was that time is so important when it comes to receiving your product. Trends change very fast and so as to Offer and Demand. We have to ensure providers that keep up with that pace.  Customers have to always have their needs satisfied, and if we can't do that, they will find another business that will. If it is a start-up company we need to ensure loyal clients and always have our income pass the Break-even point. We cannot afford extra cost as priority shipment" or package recovery fees. It is also important to note that sometimes it is better to have a longer delivery time and have a good product than a shorter delivery time and a low-quality product. As long as you are honest with your customers and communicate why the wait is worth it, you can still have a good customer base with products that take longer to come in.

 In 2020 I was bold enough to register for a company even though I did not have a plan on what I wanted to do in that company. What drove me to open that company is my goal, which was to be a successful businessman. Opening this company has made me a motivated individual in pursuing my dreams of being a renowned businessman. As I started my entrepreneurial journey, I was motivated by different influences around me. I am a very determined individual and I truly believed that whatever I'm learning in this course is as I take part in this degree will be of benefit and would give me ideas on how to go about my business and select the right business for me. This week's lessons have taught me how to be successful as I am selecting the right business for me. Before this lesson, it is surprising that I had an idea of what I wanted to do and this was what I loved doing, which was working with electricity and more especially researching on the possible opportunities of renewable energy ...

 I enjoyed reading about the student's assessment of Weebly and agree with what he said.  However, I chose Yahoo Sites since I have previously used it (when it was named Site Builder) and am familiar with its abilities.  I should be able to quickly pull together a new website based upon my knowledge and prepare it for publication sooner.  Yahoo also has the ability to accept PayPal for services (which I'm using rather than products) and have the ability to receive information from clients via e-mails to my business address.  The others have the same ability, but as I said, since I'm family with an application already, I'm going to choose it again going forward. The first thing that took my attention in Weebly is how easy it is to build a website; it is just dragged and paste. I also like how Weebly looks. I have never built a website before, and, after playing a little bit with Weebly, I thought it was easier than the others. The second criterion th...

  As an entrepreneur, I strive to learn and gain understanding on ways I can run my business and improve on what is currently existing. A lot of the insights from this week's lesson help me realize a couple of things on how I can be one of the best entrepreneurs. I learned a lot on how it is not so easy to continue a journey full of hurdles, our efforts, and hustles, are a result of one’s determination to endure and be successful. This week we got to dig deep into the life of an entrepreneur. Guy Kawasaki was able to take out an insight and illuminate it in my life as an entrepreneur. I really enjoyed how you explained that a lot of people start a business because they want money, and more money is the determining factor of how well they do in that journey. He emphasized that it is very difficult starting a business and when we look at how many people start it doesn't equate to how many people succeed. A lot of people who fail are discouraged with a lot of hurdles they face dur...