Yesterday in class we analyzed a budget and monthly income sheet for an example business, and it took a lot of work to get everyone on the same page. It made me realize how careful you need to be with business finances and especially when categorizing funds and expenses. I was not good at that while running my last business and it ended up causing a lot of anxiety and fear because I never got things sorted out. When it came time to report income and expenses for taxes, it was a big stress and could have been alleviated by taking some time each month to figure things out. We also talked about our biggest fears as entrepreneurs and as usual, I labeled mine as time management and fear of burnout. I was kind of in denial, but I was super burned out with MMT and it took a disaster to make me close because I felt like I had to prove it to myself (or others…) that I could keep a successful business running. With my next venture, I will need to set up my schedule and priorities a lot better so that does not happen, especially if I have a family at that point. Obviously from my last experience, I don't know how to do that but I'm hoping between now and then, taking some serious time for self reflection and hopefully getting the other areas of my life in order, the next time I have a business it will be a much better experience. Not that MMT wasn't, it just didn't end very well.
Last week on Thursday we did the sell anything challenge, which was something I was not looking forward to. We had to make $100 in a day, and the places that would have made it easy like on campus were off limits. We ended up selling at a local grocery store for 3 hours each. It was 35 degrees outside and a miserable winter day (It was November 1st, but that's about accurate for Rexburg to be so freezing in fall). We split into teams of two and did a fundraiser for a woman named Razia in Pakistan who needed help feeding her buffalo so that it will produce milk to feed her family. Since we had to provide a product as well, we sold pencils. But really, it was a fundraiser because that is what made people support us. Nathan and I raised $46 during our shift and Emma and Halla raised $69. I was nervous about making the required amount because we'd be outside in the cold on a random Thursday and uh... selling pencils for a Pakistanian buffalo. And Rexburg isn't the most philanth...
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