My Entrepreneurial Journey

I was able to complete my franchising and entrepreneur papers this week. It has been beneficial to talk with others who have gone down these paths already. There is a lot for me to learn. I think that franchising sounds appealing because of the business systems already in place. But, after a lot of consideration, I believe that a start-up is more aligned with my goals. We studied Steve Jobs. I have not followed his life but know the name. It was interesting to hear his take on business. He dropped out of college because he felt he was wasting his parents money. He seemed to know himself better than most young people. Unfortunately, I think many people use his example to drop out of college, choosing that point to follow. Instead, they should be looking at his "why's." He had passion, natural talents, and a work ethic that allowed him to find success without the formal education first. These strengths allowed him to suffer the downfalls of failure and disappointment as wel...

  A few highlights from this week's study: Larry Page, Eric Schmidt Entrepreneurship:   Don't settle. Cofounders/investors/CEO's are all crucial - Spend time to find the right ones.  Be an expert in all aspects. Leadership: Have a healthy disregard for the impossible - not a fear of failure.  Aggressive goals are often easier Never enough measurement Work with people you like (and want to be like) End to end: Don't be afraid to solve the whole problem at once VS Bandwagon Don't start a company because a space is hot Guy Kawasaki Entrepreneurship now -        the reason = your passion/change the world                                                        the big picture = the next big thing technology Build a business bootstrap funding key employees- engineers public relations/sel...

My $100 Challenge is finally getting off the ground! I have a few lessons under my belt and, I'm sure, more to come.  I ordered my salsa containers from Sam's Club online. I was hoping they would arrive for my first pick-up day (Monday!) but, alas, they won't be delivered until Thursday. Luckily my wonderful customers are all ok with waiting a few extra days.  My original goal was to sell 25 units each week for 4 weeks. My first week is a little under that goal at 21 units, with 11 orders. With the change in delivery, I have to hold one order over until the third week, so I am down to 20 units. I feel pretty successful with that.  I believe the challenge is in getting enough orders for 4 weeks in a row. All of these customers are friends who are willing to support me in this project. I think they will love the product, of course, but will they love it enough to reorder... that is the question. Even better, though, would be that they love it enough to tell their friends so...

Ok. Made it through the halfway point of the semester. Much of the reading this week was a repeat of other classes I have already taken. A great reminder to look to Jesus Christ as the perfect example of leadership. James Moss's talk from June 1977, "Sheep, Shepherds, and Sheepherders", lists these qualities we must adopt in order to be a better leader: Love of all sheep Number the sheep, measure their performance to see who is lost Find the lost sheep Help bear the burdens of the sheep that is found Involve others in fellowshipping the found sheep Get to know the sheep Let the sheep know you Lead by personal example Feed the sheep Sacrifice yourself for the good of the sheep I like this list but especially appreciate #6 and #7. I have found great joy in building relationships with those whom I serve. These have become friendships that last beyond the initial service. "Leadership is based on a spiritual quality; the power to inspire the power to inspire others to fol...

This week's study focused on serving your customers, the difference between an existing and new customer, and how to build your business with customer loyalty.  We read about Stew Leonard's Customer Service Rock of Commitment: Rule 1   The Customer Is Always Right! Rule 2 : If The Customer Is Ever Wrong, Reread Rule 1 ( Both are etched on a piece of granite outside of each of his stores.) David Neeleman from Jet Blue explained how important it is to put your money in the right places - where it matters to people. So, find out what your customers need and then fill those needs. Tony Hsieh, from Zappos, described their practice of paying employees to quit. Their new hires all receive the same training. Regardless of the job title, all employees are trained in customer service, working the phone lines. After a week of training, they are each offered $2000 to quit. This has proven to weed out those who are only interested in a paycheck, leaving employees that are committed to the ...