Small business answers — NOW!

Topics often overlooked when teaching business

What ideas do you have for introducing high school entrepreneurial ed students to business planning? 
Offer some perspective on topics that are often overlooked by more seasoned business veterans than your charges.

1. You need to have the spirit of an entrepreneur to be successful in business, but after the company is up and running, you better have the heart of a manager. Envisioning and starting a business is the exciting part. Actually operating it day after day, no matter what happens, takes more than just entrepreneurialism; it takes discipline.

2. You must develop budgets for your company's finances, but budgets are vertical numbers. Businesses operate lineally, over time. Make sure you understand the relationship between cash flow and time.

3. It's possible to succeed yourself out of business. Growth is great, but you must be able to fund that growth, and profits alone, in most businesses, won't fund growth completely.

4. Profit is the Queen of business, but Cash is King! 
© 2007, Small Business Network, Inc., All Rights Reserved.
Subject to the Terms of Use of
Print this page   Bookmark this page   E-mail this page to a friend   Go back to previous page
AskJim ID: 202