Week 10 Reading Reflection

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? 
Nothing really surprised me in the reading, but I did learn more about accounting and finance from the chapter. Many of the financial terms that I learned before in accounting class I forgot about, and this chapter reminded me of them. It also showed me budgeting formulas.

2) Identify at least one part of the reading that was confusing to you.
Like I mentioned before, I am familiar with the finance aspect of the chapter because I am a Finance major. Because of this, there was nothing that really confused me about the chapter.

3) If you were able to ask two questions to the author, what would you ask? Why?
I would ask the author, “How much finance knowledge does an entrepreneur need to know?” I would ask this because I want to know how advanced in finance an entrepreneur has to be for success. I would also ask him, “How much marketing does an entrepreneur need to know to be successful?” I would ask this because I forgot to ask this question when we were reading the marketing chapter.

4) Was there anything you think the author was wrong about? Where do you disagree with what she or he said? How?
No, I don’t disagree with anything the author has written about.

Elevator Pitch No. 3

1) The pitch.

2) A reflection on the feedback you received from your last pitch. 

The last time I did the elevator pitch many students said that I should improve my business plan because they didn’t think I had a competitive advantage over competitors. Some pointed out the confusion with the alpha sizing system since no one had really heard of that term before. Someone also pointed out that I should practice my pitch more before saying it on camera. I think all feedback I received was important.

3) What did you change, based on the feedback?

Based on my feedback from the last pitch, I changed my whole business plan to make it simpler and more competitive. I chose a business plan that is unique and narrowed my market segment. I also tried to improve the flow of my elevator pitch by not using a cheat sheet.