failures

This week I learned a lot about failure.  I learned that failure is an unavoidable step in success.  Those who desire success find a way around their obstacles and their own personal shortcomings.  I have definitely made some personal mistakes, and after some serious contemplation I have identified a few things that I can learn from those setbacks and some things that I can try to do differently.

L12

This week I learned about how complicated and difficult family business creation can be.  There is a lot more to consider than simply business, after developing a close personal relationship a business relationship can be difficult.  I have considered going into business with my father many times and I always chose not to disrupt our personal relationship.
This week I also learned that creating and seriously contemplating a business plan is crucial to a successful business plan.  Going out half cocked is not the best way to expect success.  Trying to anticipate the possible pitfalls and set backs will help you prepare for mistakes and create a plan to make adjustments as needed.

L11

This week I learned that franchising is probably not for me.  I do not want to be limited to what someone else tells me.  I want to find ways that work best for me, and I want to achieve my own successes.  There is a possibility that I would own a franchise that would not require me to run it each and every day; but I am not in the position for that kind of risk.

L08

This weeks lessons were great.  I think that direction and leadership is a great way to fulfill personal passion and business goals.  I also really enjoyed Ken Zolot's advice about ask "who cares" and being willing to take risks.  Being an entrepreneur comes down to learning from experiences and mistakes, taking risks, and finding a way to become successful despite setbacks.  The entrepreneur spirit is pretty awesome, I am becoming more and more optimistic that I am gathering the tools I will need to create and start my own business.

L07 journal

I think that customer experiences are huge, when a customer has a good experience they are much more likely to tell their friends and family thereby increasing my business.  In the building industry, or as a contractor, word of mouth is the best marketing tool there is.  When someone pay hundreds of thousands of dollars to have you build a house they are very sensitive to each and every decision, especially as it relates to how their money is being spent.  Being able to convey sensitivity to their emotions can go a long way to letting them know that you are hearing them and doing a good job for them.  When building a home for someone, they want to be comfortable in their home when it is all done, they do not want to worry about what might break or fall apart.  Going the extra mile and creating a positive relationship will be a big factor when is comes to return business and future business.

5/27/2017

I enjoyed this weeks lesson about marketing, I have always associated marketing with a system of being pressured into buying something that I don't need or want.  Now that I better understand some of the other ways that other parts of a company can contribute to marketing and the overall experience that customers might have with a company.
I am not going to record myself doing an elevator pitch, I do not agree with the assignment and I do not think that it is appropriate to require such an assignment without offering an alternative assignment.  I would be absolutely willing to do almost any other assignment in order to receive those points.  I do not feel comfortable videoing myself and then sharing it with strangers.

This week I learned the real importance of planning and goal setting when considering or initiating a plan for starting a business.  The videos from President Faust and Worthlin word good to help me stay focussed on what my real priorities are as starting a business may take a lot of time I will still need to make time for my family and my calling in the church, even my homework.  I also learned that budgeting will have to be an important focus, I will need to find ways of where to get money from and how to build a business little by little.

This week I learned a bit about start-up.  The Go it Alone book said that starting your own business really isn't going to cost very much, however, some of the reading said that the law of 3 applies here; that it that starting your own business takes 3 times the time, money, and resources.  I will need to do some more research here as I am not exactly sure what conclusion to draw here.  I really like the action hero: Tom Monaghan from this week as well, I hope to be more like him, ready and willing to give of himself and his money and talents.

This week I have learned that there are many ways to set myself apart as a business owner, or to best present and sell myself as a business.
1- Customer feedback.
2-This is what you get and how often.
3- The things that sets me apart from others.
Communication with customers is key in order to find exactly what they want and expect, meeting expectations and exceeding expectations will perpetuate business.

Business journal blog

The purpose of this blog is to fulfill class requirement, to contemplate, and to track personal business insights and ideas related to the creation of small business.