The Lean Start-up:“Everybody has a plan until they get punched in the mouth.” Lean Startup makes a lot of sense to me. You cannot plan for certain things, especially if this is your first time around. Your customers are essential. Without them, you go backrupt, right? By working with your specified audience from the very beginning, you can grow your business based on customer feedback and development. On paper, it all makes sense. However, we as social entrepreneurs need to be aware of these things oonce we get out into the field. 

Triple Bottom Line: The Triple Bottom Line fascinates me. I think it is the way of the future! I think some people have this warped perception that businesses are all about money, money, money! To some extent that is true. However, the triple bottom line executes so much more! Business involves environmental and social aspects in addition to the financial aspects. Working on improving all these things makes businesses more successful overall. 

The Business Model: Although I am a business major, I have never been introduced to the business model. It was interesting to me all the different components that make up a business structure. Components such as Key Partnerships, Key Activities, Key Resources, Value Propositions, Customer Relationships, Channels, Customer Segments, Cost Structure, and Revenue Streams. I have always  thought about the basics, money in and out, that sort of thing but I really enjoyed watching in detail how a business model comes together and how individual it is. 

What do you think of the statement by Mike Tyson "Everybody has a plan until they get punched in the mouth" in reference to starting up a business? How is this statement true regarding brand new enterprises?

I think Mike Tyson's quote has a lot to do with starting up a business. Sure, you start a business with a business plan but then what happens when things do not go according to plan? How can you plan ahead so you do not fail? The reason I think lean startup is so much more successful is there is a lot of back planning that sets you up for success. Jumping in with  a basic business plan can something that sets you up for failure. You need to look at your goals and then create smaller goals that will help you achieve your larger goals. When you create a brand new enterprise, you have no idea which way it's going to go. Sometimes you plan and things just do not work out. 

Peter Singer states that each of us spends money that we don't really need. What does he suggest we do with that money? What is the most effective way to give charitably?

Peter Singer suggests we live modestly and give time. As Peter Singer expands on this, he makes it apparent that you do not need to start serving others full time; you don't need to give away everything. The most effective way to give charitably is to do your research. What gives you the biggest bang for your buck so to speak? I think of good, better, best. No matter which charity you give your money to, it is going to help someone. But which one will go the distance? Make the largest, most significant difference?