Bus 210 Wk 4: Create a Business

 

Week 4 study was focused on creating a business. Stephen Gibson, in his article "This Simple Little Gem can Help Your Business Grow and Grow", mentions 3 steps with the acronym GEM
Gather: raw materials, resources, equipment, personnel
Enhance: add value to materials, create a product
Market: advertise and sell
This seems simple enough. I like the idea of adding value, enhancing something in order to meet the needs of a market.

In "The Lean Start-Up" video, entrepreneurship is defined as "creating something new in an uncertain environment". That is the kicker. Entrepreneurs have lots of ideas and their passion and perseverance are key to bringing their ideas to reality.

And our week 4 Acton hero, Paul Robshaw, reminded us that it is possible to keep our core values on top. With the will and drive to work, anything is possible.

On to our $100 Challenge. This week we had to narrow our list from 5 possible business ideas to one. My husband thought I should do the DIY woodworking classes. I was hesitant about this idea because I feel the projects didn't have enough steps to necessitate a class. I decided to ask on FB which of my ideas had the most public appeal. So I asked my friends which of the following three they would most want to buy:
1. Homemade Tex-Mex salsa
2. Personalized graduation cards/envelopes
3. Rustic wood flower boxes

The big winner was the salsa with 23 votes! I will use my mom's recipe that I've grown up with. She grew up on it, being born and raised in Brownsville, TX. It has always been a big hit when I have it at parties or give it as gifts, and I have toyed with the idea of marketing it for years. The Pacific Northwest could use some authentic Tex-Mex! 

I have listed the name Mom's Original Tex-Mex Salsa. But some other ideas might work better:
Mom's Authentic Tex-Mex Salsa
Brownsville Original Tex-Mex Salsa
Direct from Texas

I also decided on my grand opening promotion. I will be offering a free bag of tortilla chips with every order of 2 containers or more. I thought this would increase the sales quickly without costing more than my profit. 

My start-up costs are $20 which will come from a personal investment into the business rather than looking for outside funding. My next step is to decide on a label, logo, and packaging so I can get it all ordered. I will be using my graphic design training to create the logo and will "hire" my daughters to help build my social media presence. I am excited to see where I am at next week! Wish me luck!

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