Intuit

In: Other Topics

Submitted By keuhlber
Words 2170
Pages 9
Kelli Uhlberg
9/10/2013
EEE 451
Case 2: Intuit

1.)Your textbook on page 19 makes a reference to the fact that most entrepreneurs learn about cash flow, marketing, human resources after they have those problems. Comment on how Scott Cook seemed to address these issues?
Cash flow, marketing, and human resources are arguably the three most important parts of building a business, and are often lessons business owners misunderstand in the real world. It should be blatantly obvious that these three concepts are cyclic and rely on one another to survive. It seems that Scott Cook saw how each aspect of business owning relied on the other and how all three components needed to work together to truly see fiscal results. Marketing strategies utilize cash flow and generate more, human resources are selling points in marketing strategies, strong human resources build customer loyalties and keep cash flow steady, etc. Scott understood that entering into an actual business wasn’t going to be the perfect scenario like textbooks. He needed to master and balance those three components to survive. Cash flow is a huge obstacle for most businesses. On page 20 of our Entrepreneurial Finance textbook explains, “ The area in which they [unsuccessful entrepreneurs] lacked the most training was cash flow management”. Cook handled his start up professionally and didn’t allow failed venture capital pursuits put him down. He resourced himself to fund the project. He knew how much money it would take and tracked his finances with an understanding that there was very little room for error. But by investing in himself he didn’t relinquish ownership, which would be good in the long run. Once the company began he built a strong team and sold an almost perfectly priced product. His middle of the road software was appealing to almost every economic demographic. After a decade or so the…...

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