Lesson 7

This week we talked about a company named, "Zippo's." I find Zippos' philosophy quite interesting. I love how everyone is trained the same, no matter what department they will be working. Often in companies, I feel there is always a hierarchy, managers might look down on employees, etc. With Zippos, it doesn't matter if you are a lawyer or work in customer service, everyone must learn how to answer the phone and do the basics. I see their point in training this way as like they have said, during the busy months if they hire a temp, they will not be invested in the business as much as those who work there permanently. I also like how Zippos pay people to quit. Paying people to leave makes sense. If you have a business, you want to hire those who believe the way you do and value your company. By offering to pay someone to quiet, and a significant amount at that, you know those who do not take it will be valuable employees. This idea is a great way to staff your business.

We also talked a lot about the importance of customers. Why it's better to keep your old customers coming back versus finding new customers. Finding customers is a lot harder and more expensive as you have to use ads, sales, and other forms to bring new customers into your store. If you can do things to keep the old ones coming back, and they the customers like it, they could tell their friends about you and gain new customers without paying for advertisements.

I want to get to our $100.00 challenge. This week we were to go to the Kiva site and find someone we are going to donate our money to so they can explain their business. What I decided I wanted in my search was a woman, single parent, maybe widow and one who is really struggling. It took hours upon hour to search. There were ones I wanted to help yet their time was closing. I finally decided on Ester Cherotich from Machakos, Keyna. She is 64 years old, a widow and mother of nine children. Ester wants to add stock of fruit to sell. By helping those who need help we are following Christ example of being charitable. We are so blessed here in the United States, even if we struggle day to day, month to month, we are still better off than most of these people asking for a loan on the Kiva site. We can all give a little, even if it's $5.00 per month. I feel there is always something we can sacrifice to help others. I am hoping my donation will help someone out there have a better life. If I can help someone obtain more supplies for their business or even start a business, how wonderful that will be. I want to help all of them, yet I know I cannot do that as I don't have the funds I would need to pull that off. I can help one or two people per month fulfill their dreams. Some people are addicted to drugs and/or alcohol, yet I can see myself becoming addicted to the Kiva site, in a good way, and helping those who could use my help. I am a mother who owns a small in-home daycare and struggle each month not knowing if I will have enough money to pay my bills, yet Father has blessed me with so much, the least I can do is help others.

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.

Week 2 - And So It Begains

  As we start a new semester in school, there are always wonders of what we will be learning. As I looked at the course contents, I was overwhelmed with all the assignments. My thought of how I will get all this done started ringing in my head. I already work ten hours a day, give a couple of hours from errands, dinner, and my daughter before I hunker down and start on my school work. I then go to bed and three hours later get up to start again. We are to start a small business, I read. I love owning my own business. I have owned a nanny agency, pet grooming store, cake decorating business, and a couple of different sewing businesses to name a few. So, starting is not the problem with me. My question is where do I find the time?
  This week we looked over quite a few entrepreneur blogs. One thing I noticed about me, is I don’t like when there is so much clutter and business going on. I like clean pages. One blog I did like was “Small Biz Daily.” For me, this blog had a lot to offer yet didn’t seem to busy. There are so many articles about how to start a small business to help women get started. I feel like I will be going back to this blog often.
  We are also to read an entrepreneur book from the list in the syllabus. One I chose was, Dave Ramsey’s book called, “The Total Money Makeover.” Dave gives us so much information about getting out of debt and staying out. He tells us how we can become a millionaire by as he was able to become one twice. Do I want to become a millionaire so I can relax and just “play”? I would love to become one or close to one so I may be able to help others. His book is easy to understand and enjoyable to read. A book I would highly suggest.