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? The biggest surprise I got from reading chapter 14 was the story of Brad Daniel and how he expanded his florist business into five stores in South Florida. What made my mouth drop was the fact that sold it for $130 MILLION. That is just so much money and the kick was that the rollup ended up filing for bankruptcy and selling Daniel his business back.
2) Identify at least one part of the reading that was confusing to you. I was confused by the Due Diligence question of funding request and if its appropriate for sucess. I think its a very open ended question and I would need clarification on how to go about this questions' analysis.
3) If you were able to ask two questions to the author, what would you ask? Why?
- price/earnings ratio drawbacks: to what extent can they bring more risk than reward? What would be a better alternative?
- In terms of the due diligence outline, how much does each one vary in questions? It is a standardized outline or do they vary across different people's businesses and ventures?
4) Was there anything you think the author was wrong about? Where do you disagree with what she or he said? How? I don't agree when the author says that every entrepreneur should be able to calculate the value of his or her business because there will always be emotional and personal biases that come into play. Furthermore, there are other biases when it comes to determining the value of a competitor's operation.
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