Building your brand

It has been a challenging two weeks and it has not finished yet, the task may seem overwhelming but there is hope soon it will be done. But in spite of all the challenges the family is going through, I feel blessed for all the things I am learning, It was very important to study about marketing. The material I studied was very useful. I now have a better picture on what should be my main purpose and how to market my services to customers. I have no business yet but the services I am offering will be promoted in a better way now. I will soon put into practice the knowledge acquired. The video about "increasing your likability was very instructional, I had the chance to remember and refresh important principles that will reinforce my relationship with my actual customers and future ones. The importance of knowing your market and the uniqueness of my product how to optimize it to satisfy the actual need of my customers or the markets that I have not seen yet.I would try to find the way to put this principle into practice "bundling products" I will find the way to offer that on teaching. The Acton Hero part was very motivating. It is becoming one of my favorite part of the course to learn about the challenges and triumph of many different entrepreneurs and the example the leave after conquering their goals. In this case Mr. Romano helped me to focus more on creating a product or optimize the one I have to satisfy the current needs. The activity that helped me a lot to focus on what I want to do with my product was the "elevator Pitch" I may need to make it better but It actually helped me to find a north on where I want to go or where to begin to focus on what group and what exactly I want to sell

Funding your business

Yesterday with my wife and my brother in law we went to the hospital to get blood from my brother in law that my wife will need for her surgery. Thanks to the government we will not pay for the surgery but it really took time to get her into a bed. Hopefully now she will be operated on Monday or Tuesday. This week I learned about the importance of leaving a modest life and as much as I can how to avoid debts. Elder Wirthlin’s “Earthly Debts, Heavenly Debts” speech was very inspiring and gave me the strength on keep working on the way I am working on my $100 challenge. I am not borrowing money to make the $20 I need for the challenge I basically made it selling my sodas. One thing that is helping us to cover our needs is the fact that we are as much as we can reinvest all the incomes we generate and spend always within the margin of profits we set up to be used on everyday expenses That is why the article we read in "Start up on a shoestring" seemed like our own story and I found strength and hope on what I am doing. I like what I learned from Desh Deshpande and ken solo. To learn to be optimistic and willing to change things around are actually two good attributes to learn while in entrepreneurial endeavors. Four stage in the budgeting process:1, setting goals, 2 Evaluating and choosing options 3, identifying budget impact 4, coordinating departmental budget. Budgeting is more than what I thought it was. I learned different kind of budgeting and I learned how to forecast possible scenarios and requirements of a company to budget for those requirements. Budgeting can turn into a powerful tool to measure a business.

My $ 100 Challenge and my business plan

How my $100 challenge is going. Actually my business of selling soda is changing a lot. Today with my wife agreed to divide responsibilities. So she is now taking care of the books. In that way we focus on determine how many sodas we sell per day and by the end of the day we check how much is the capital, how much the real profits. What happened as a result we knew how much we were allowed to use in the house, how much we were allowed to capitalize and how much is possible to save to reinvest in the other businesses, like paying the fee for the website and promoting the English lessons which is actually the other business that obviously when running makes more money that selling sodas individually. We are in the Learning process. I am not sure about my business plan. I need more time to study and review the material and see what else can be improved. I really enjoyed the reading about Heather case and I was really impressed about the way she wrote her business plan, I want to learn to do that. I did the assignment of HMM but I want to recheck it again and write my business plan under those suggestions. It has been a challenging week. But I have to keep going.

$100 a learning experience week 2

I wrote on my assignment this week about the different business ideas I have to produce the income. I actually working selling sodas in the street and teaching English lessons is actually helping the family economy. But by the things I am learning is like challenging my brain to think of better ways to make money to pay my family needs and the university. I ended up totally impressed with the story of Mr. Monaghan. A man who, after working so hard to get everything he wanted, discovered his proudness to end up giving everything into perspective. I agree with the fact that we are getting ready to actually do our work. The other reading that actually hit me was the story of the entrepreneur who founded a system for sightseeing and other activities. I like the fact that this man actually faced all kind of difficulties to get his job done. What is also something important to mention about how creativity can be promoted in an office. The fact that it is not something that comes from smart or really geniuses but from people who gathered together and have the capacity to carry on a conversation where different opinions are exposed and the result of that can be the creation of a new product, service or any other thing new.

The beginning of the Journey

It has been hard to go through pathway and when the time came, it was unbelievable to confirm that we were already freshman at BYU - Idaho management school. Why did I decide that major? During my life more than a job hunter I learned and I was taught to prepare something and sell. Somehow in the middle of the journey I decided to learn English to teach it. After 20 years of doing it. It was rewarding but it did not take me where I wanted to go. Now after this two weeks in the university I discovered how powerful is a preparation on Entrepreneurship. The fifty things dream list made me think that most of the things I dreamed doing were being left undone. I was being left aside. After writing my list of business ideas I am actually thinking of a lot of the things I can do to make money. I am good at it. I sold my first English Lessons to people without being a licensed Teacher and I got a good number of students. All of them accomplished their goals but me. Now I begin this journey with a lot of expectations and strong desire and work to make it happen. From the very beginning, the idea of coming back to school brought hope not only to me but to my family. Things have changed around. Brainstorm of ideas began to come. We are actually doing things in order to face difficulties and the classes are actually helping us to make better decisions and to trust in the future ahead. We are working as hard as we can to overcome the difficulties we are facing and make it happen.