Lesson 6

Another week of learning. Some days I think to myself if only I can remember all of this. This week we worked on our Elevator Pitch video. I hate, no, detest being on a video. Recording a video was very hard for me to do as I don't like what I see or hear. I was able to get through the video even though I dislike it. This week was called, going out of my comfort zone.

On the up note. I love our acton hero this week, who was Phil Romano. He had so many great lessons to share. One he believes, actions speak louder than words. I also agree with this statement. People can say anything they want, yet will they do what they say? Another philosophy Phil has, "If it doesn't feel good to me, it's not going to feel good to the customers." Another statement Phil has, "Never think about profits. Think about service and what the customer's needs are and then you will make twice as much." We only live once; we should be doing all we can do! Don't wait for a later day as there may not be one. Great advice from Phil that we can all implement in our lives.

Another idea I liked was in Guy Kawasaki's video. He tells us the keys to increase your likability.

·         Improve your smile - use your eyes. If you are doing this correctly, you should have strong crows-feet.

·         Dress for a tie - You should dress equal to those around you.

·         Have a great handshake - This is very important as you can tell so much about someone through their handshake.

First impressions are crucial as you will never make a first impression again with the same person.

These are some of the lessons I have learned this week.

Lesson 5

This week was an interesting week. In our readings and videos, I have learned many things. One being, Fundraisers are one of the most critical skills we can learn. I also learned, when you ask for money you get advice and when you ask for advice, you might get money. When looking for investors, we need to convince others to join our cause.

Reading the talk, Opening the Windows of Heaven by James E. Faust, I have learned. Tithing is a principle that is fundamental to personal happiness. Tithing is also a principle of sacrifice. By paying tithing, we will always have food, shelter, and clothing; this is not saying we would have the most expensive or name brand items. Tithing is a principle you have to try and see the blessings you receive.

Another talk I read was called, Becoming Provident Providers Temporally and Spiritually, by Elder Robert D. Hales. One thing that stood out was when he said, "When we live providently we can provide for ourselves and our families and also follow the Savior's example to serve and bless others."

We learned about budgets, and the process is to set goals, evaluate and chose options, identify budget impacts and coordinate departmental budgets.

Desh Deshpande from Action Heroes states doesn't matter where you start. The best thing you can do is to become motivated. It doesn't matter how many resources you have; you need the motivation to succeed.

This week for the $100.00 challenge, I set up an appointment to talk with an entrepreneur. By interviewing him, I am hoping to gain insight on the best way to run a business and stay in business. I have had a lot of starts for businesses in my life yet I fall short of what to do with the business as it grows.

Week Four

This week felt like a busy week. We started out with our case study about Heather who was going to school and starting a fashion business at the same time. We read about things she did right and things she did wrong. One of the first things I felt she did wrong was starting the business while going to school. Because of this, she was not able to give her full attention to either subject. She also ran too fast. By this, she started spending money before even obtaining her investors. When it came time to pay rent and payments on supplies, she had no idea how she was going to pay as she ran out of funds. One of the first things to do is get your finances in order, whether bank loans or investors. You need to know the money will be there before you start making purchases or promises.

This week we also worked on our business plan. We've learned how a one-page business plan is better than a long one. I had a struggle deciding how to word my business plan. By having a one-page business plan, you can look at it often and change when needs are. A business plan should not be put away but used and revise.

This week for the $100 Challenge I came up with a business plan. I also created fliers and want to create business cards. My daughter names the business Hot Unicorn Mud aka Hot Fudge. As we told people about this, they weren't too sure what it was I had in the jar. I finally decided to change the name to Hot Unicorn Fudge as this is a more descriptive name. I've heard, It's all in the title.

Week Three

 As I watch the videos for this week, I love what Guy Kawasaki had to say about new business models. He states A business model is different than it was twenty years ago. Today you need to be very specific with your model. Who’s your target for your service or product? He suggests to keep it simple. Also, when you come up with an idea for a business model Guy recommend asking women. Men are all about killing things. When men create a new business model, most of the time it's to "kill" another business, where women will come up with ideas and their idea is to start a business.

  I love this quote by Amar Bhide, "Startups with products that do not serve clear and important needs cannot expect to be 'discovered' by enough customers to make a difference."

  We also learned about Innovation and Creativity. I have often heard about companies where they will have pool tables, skateboarding, basketball and other fun games in the office. There set up would be relaxing, with fun chairs and couches, open offices, relax clothing, etc. I have wondered about these businesses yet after my studies this week; I can see how these things keep the creative juices flowing. If you are stuck on an idea, do something you have never done before. Some offices will have their staff doodle or color during a production meeting as this helps to keep that creativity alive.

  There was a lot to read this week. Reading is tough for me as with only two hours of sleep a night; if I open a book, I will fall right to sleep, so what can take 20 minutes for someone, often takes me 12 or more hours. Everything I have read this week has been fascinating and helpful in my everyday life.

   For this week in the $100 challenge, I worked on the name of my business, which will be "Hot Unicorn Mud," translation Hot Fudge. I have also figured out how much it will cost to prepare each jar and how much I will be selling it. The cost of the supplies is $2.24 per jar. I will be selling them for $8.00 per jar. I should have a good market as most everyone loves Hot Fudge. I will be selling online and word of mouth. My first sales will be this Saturday. We shall see how I do.