Lesson 3

This week was a really interesting and overwhelming week all at the same time. We learned all about business plans, the structure the organization and what should be included. I find business plans really overwhelming. While they are an essential part of any business, they are also a very daunting task. This week I had to create two, one-page business plans, one for my $100 project and one for my big idea. I really enjoyed the process. While it was very time consuming it was also very though provoking and insightful. I began to get very excited about the direction of my company as I thought about the vision statement, the objectives and plan to make everything happen. It really made the business come to live in my mind and began to think about what challenges I might face, which for my $100 project there were any big challenges that came to mind.  I also got very excited about my about my big idea as I realized how big of an opportunity there is in Colorado for my plan. I also got very overwhelmed with my big idea as I realized how much money it would take to make it a reality. It will cost about 6 million dollars to get off the ground but at the same time the small one-page business plan made it feel like it wasn’t out of reach. I realize that it won't be easy by any means but it fells like  I really have a feasible business. 

I really enjoyed the one-page business plan project because it made me really think about all of the aspects involved with starting a company. That is why a business plan is so important it really makes you do your research, it makes you crunch the numbers and it makes you face possible road blocks before they even occur. While I am far from being ready to write a full blown business plan, I have a greater respect for the business plan process. It really is a road map for your company and it makes you set things like you companies values before you even take the first step.