Week 3 Reflection: Business Advice

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The readings and videos were very interesting this week, and I enjoyed them quite a bit. However, my favorite video was the "The Formula and Happiness." I learned quite a lot from that video!

I liked the formula that J. Paul Getty shared:

Step 1: Get up early (Because your competitor is probably already awake!)
Step 2: Work hard (Be a balanced work-a-holic)
Step 3: Find oil (Discover your product or idea)

I like that the host, Jim Ritchie, says that you can conquer the world by following those 3 steps!

I also really liked what Frank Levinson presented in his second video, "Top 10 Must Have for a Start-up." I found his guidelines very informational and instructive. I think that they are very important for us to remember in this time where everyone seems to be starting their own businesses, especially direct-sales businesses. He guidelines are:

1) Spending everything on a good team and equipment
2) Letting people know the company is in business
3) Raising limited capital
4) Taking stock of a company and determining its needs
5) Being open to opportunities
6) Having a supportive family
7) Targeting mass markets, not just niche markets
8) Having confidence in new ideas
9) Acquiring and selling to real customers
10) Choosing a great partner

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