Today we learned about how to grow a business and what it means to grow a business. Some of the information includes franchising a business or licensing an idea.  These two can help your growing business.  We learned about some of the pros and cons about franchising a business. Of course the pros are that you can make a lot more money if you franchise the business.  Some of the cons are not being able to find properly trained employees, or finding a trustworthy franchisee.  We learned about harvesting a business, exiting the market, and also liquidating your company. In more depth about liquidating, we learned about how to value a business.  Some ways to value a business is book value, future-earnings, or market value.

Reflection: I think the information learned in today's class is important because if our businesses grow, we need to know and understand how to harvest them properly.  We also need to learn the flip-side which is exiting and liquidating our businesses. I believe this information will help our companies grow and hopefully be successful.  The Shark Tank episode was interesting today.  They man had a good idea but very unclear plans for his product.  The sharks did not know what he was trying to do and also proclaimed that the man had too many claims.  I thought the business would have been able to do well if he would have had prepared more and had less claims.