Today we went over value and the fair market value. Value is subjective and not objective. It's an opinion based on the facts/knowledge of one person or maybe a small group. In order to better value something a person would need to compare it to other like businesses and such. This could be done by the basics of the business or their net earnings for that fiscal year or for a different period of time. Fair market value would be the price of a property valued by the market and how it compares to other businesses like it in the area.
Today is the last day if the entrepreneur project and I learned quite a bit from it. I learned how to better work in a group with an inactive member and how to pull a business together in a short amount of time and deliver properly. I liked being my own boss along with three others, it wasn't as if someone was breathing down my neck like a boss might. Maybe now with this knowledge I will start my own business, only problem is to find out what it would be. All 14 packages sold to 6 people made their day. Some recipients were so excited and raved on about how cute our project was.
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