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Tuesday, July 26, 2005

Business Basics II: Week VI

For the last week of class, we met at the Engineer's Club in Baltimore. This place is seriously swank. Beautiful carved wood everywhere, a Tiffany glass dome and stained glass windows. Huge ballroom with mirrors. A dining room with hundred year old tapestries on the walls. It's three rowhouses wide and was originally owned by the first owners of the B&O railroad. As a member ANY of these rooms are at your disposal for events, anytime. They also have a dining room, bar, pool table, computer lab, meeting rooms, etc. Seriously, my professor had me sold on membership by the time we sat down for class. He's co-chairing a multi-million dollar capital campaign to fund rennovations, including installing a glass ceiling over the enormous, beautiful, courtyard.

Anyway. We did some discussing about financing, and general planning. I was saying that I want to move to Florida in five years (everyone, let's pitch in to get my husband on board, because I can't leave him behind!), and that I would probably not open a retail store until I moved. My prof was like ... why wait? The worst that can happen is that it will tank and five years from now you'll know better when you open a store in Florida. Best case scenario is that you do really well, and can either run two businesses, or you can sell the business up here to help start up one down there! Do you really want to go down there, not knowing anyone, and never having run a business before? PLUS you can take travel expenses for scoping out a location down there out of your taxes, everytime you go visit your parents!

hmm, this is sounding tempting!

I've also been toying with the idea of getting an MBA, since I can transfer 6 credits from the program I am in now towards the foundation requirements for an MBA. I'm not sure if it's really necessary for what I want to do. It could really help my organizational skills overall, and it sure would be nice going into business as an expert rather than a hopeful dope!

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