Entrepreneur Journal B238 Week 5

                                 Building your Brand

                     As weeks go by I like more and more this class and principle learned into it. I want to start with the 100$ project. This week I didn't do much progress since I am still waiting for the tracking number form the supplier so I can learn where the item and when it get closer I can start my marketing and publishing it online. This week I set the Paypal account into selling account its 5% of the income in every selling that goes to Paypal and create a eBay template selling. Cant wait to lunch it. 

This week I found the e corner video really inspiring and the principle taught by Guy Kawasaki Know Thyself and Niche Thyself  it is really important to know your product and the need that is for that product. You can have an unique product but if people doesn't need it or there is no demand for it its pointless. He mention also that if you have a good product but there are also even 10 competitors than in this case you have to play the game with the price by lowing it or creating a balance so you can make the difference. 

also he talked about Keys to Increasing Your Likability, because if people doesn't like you is hard to be impressed by you or to like your product. First impressions are really important. 3 Key principle you need to have a good smile and be positive, dress for the occasion and have a good hand shake. If you start well you are halfway done. 

Entrepreneuer Journal B238

Lesson 4 

Founding Your Budget 

        This week was all about budgeting and how to help your company start up and it really demonstrate how important is budgeting for a company, It doesn't matter at what stages it may be if they fail in budgeting they set up their self into failure. It is important to not underestimate the power of the variable cost, because most of the time they predict your future. In every aspect being a head of a family or a head of your company an important key word is SAVE. Saving will allow overcome your rainy days or when unexpected thing will happen. Saving are important even when you want to achieve a goal or something you need to plan it a had of time and save little by little so you don't get your self bounded in debt. Sometimes debt are so powerful that you may loose control of your company or even you life. This week for 100 $ project we need to figure out how we are going to provide the money. I choose to use my personal founds and of course pay my self back later. Since the budget need to be limited to 20$ for my project I choose to order a smaller amount and to get a cheaper shipping or free shipping that will take longer time to arrive in Albania. I figure out in meanwhile we can start promoting online our products.

Entrepreneur B 238 Week 3

 Business Plan  

            This week we got lo learn about Business Plan in very detailed way. I was used to a simply business plan in a few steps that it was not even necessary to wrote down but in what I learn this week I was far far way from the truth. I figure out that having a set up business plan can help you see where you are and what you have in plan to achieve so where you are going. In the HMM activity and reading it was describe really well the components of the business plan. I think the more detailed your plan is the better it is, this in the case of personal use. When you have to presented to the investor I think you need to make more concrete and shorter and emphasis the point of when and how those money will be return to them,and whats their profit.

In the 100$ challenge I decided to go online this will take longer time to develop but its less time consuming and I can manage it from through my smartphone and answer question and email of costumer. I choose a simple idea to buy cheap and sell with profit. I figure out that there are some website that help you get in contact with the China manufacture product or they sell to you. So I decide to order from them and sell it on eBay first. I choose the packing boxes and packing bag that it was cheap and didn't cost to much to start and people would buy it since there were a big request on them. I figure out that sometimes you need a box for you gift or sometimes you damage your box and need a replacement for your gift or for just to keep it in your house at to look good. So I think people would order and I decide to lunch in eBay UK rather ebay.com since its more easy to sell there is higher request and the shipping cost from my country to Europe and Uk is cheaper and faster.

Entrepreneur B 238 Unit 1

                    Week two                  Opportunities and ideas



                  This was a pretty intense week with a lot material to read, but that gave me a lot of information on the entrepreneur world, I liked the special report on entrepreneurs, got me an new perspective on this fields and whats important , I realize that I would not be alone to achieve and grow my business idea.
I really enjoyed the Entrepreneur power point , the formula for success
ES=(I+M^3)P
Entrepreneurial Success=[Idea+(Market x Money x Management)]x Passion If you put all them in practice I am pretty sure that however the circumstance success will come.
Today business model are changing and new ideas are raising up, I brainstormed some ideas for my 100 $ project and the big idea. I am focus more on the personalize your Nuttella idea and the fruit stand with fruit juice. In the material this week was interesting article on how to foster creativity by Kathleen R. Allen, Which they look good to follow anytime.
 1. Carry a notebook.
 -Ideas can come anytime. If you write them down, you will remember
them
2. Think opportunistically.
 -Pay attention to everything. Start questioning what you see and why.
3. Network
 -Meet new people and talk to them.
4. Think in opposites.
 -Every idea has an opposite. Sometimes opportunities or ideas can be
found in it.
5. Reinvent the wheel.
 -Think of ways to spice up old products or services. Take a product and
make a list of 50 unexpected uses for it. This process may create ideas for
something completely new.
6. Challenge your ruts.
 -Change the way you do things. Experience something new. Change the
radio station or eat at a different restaurant.

Entrepreneur Journal B238

This was the first official  week and it showed how the course will be.  I find my self catching up with the others and with all the material to read. I didn't thought that will be so much to read, I am slow reader too. What I found impressive was that  all the material, which I read ,  were really interesting , and I didn't want to stop reading.
I choose the book the Start Up of You but I was even interested to read the Kawasaki Guy book and look interesting but since were at start up still I read that to refresh my mind.
I am still thinking on what to do for the 100 $ challenge. When you planned in your mind everything looks easy but the hard time is to put them in practice. I have a couple of ideas but I don't know if they are going to work or are valid at all.
My only problem is get distracted pretty easy and I need to find the will to keep pursuing. Even that I failed a couple of time, I know that I can achieve some of them If I am persistent