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.