My Final Words

Here are some points that I feel have impacted me as I attempted to create my own business this semester. Good luck with your endeavors!

Find a Mentor

There are many entrepreneurs out there. There are those that continue to innovate and create great and marvelous things. We need to look for them for ideas and suggestions. Throughout this semester we looked at Steve Jobs, Richard Branson and others like Robert Kiyosaki. There is much to learn from these great entrepreneurs. Find a book by or about a well-known entrepreneur. Be involved with what they teach, learn and apply their lessons, and find ways to incorporate their lessons with your future business.

Be Ready to Work for Nothing

            Something that I learned from Robert Kiyosaki, was the idea of working for nothing. Kiyosaki explains that as we work for nothing, we realize how rewarding working for nothing can be. It will change one’s life and understanding of money. If we work for nothing, we are then better prepared for the work, time and effort into creating our business. This, in a sense, is serving. When we learn to serve, we learn what it means to sacrifice. Sacrifice is going to be one thing that you can look forward to when starting your business.

Dedication

            Dedication, determination, and commitment are very integral attributes for a successful entrepreneur. As a business starter, we all will come across a lot of trials and problems. If we find ourselves quitting, we may not have been dedicated enough to our hopes and dreams. Richard Branson showed a lot of dedication, determination, and commitment. He attempted to penetrate various markets and industries with the Virgin brand. He found a lot of resistance, failures and successes. He was determined to take a stand in a market that could prove to be successful. In some cases, he wasn’t able to, but with some things, he was able to do what he sought for.

One Tequila, Two Tequila, Three Tequila... FLOOR.

Tom Nall created a tequila brand soon after he retired. There are a lot of things we can learn from his life. His video can be watched here: http://www.actonhero.org/celebrating-heroes/stories-of-heroes/index.php?hero=tom-nall Here are some important things we can learn from this Entrepreneurial Hero. 

• Learn from experience: As Nall has been able to work various job positions, he utilized the skills he learned from each position for his benefit. 
• Change: When life requires us to change or for change, we should do what we can. Entrepreneurs don't repeat others' ideas, they show why they are unique. 
• Entrepreneurs = Calculated Risk Takers. Nall wasn't in the tequila industry because it was a fun idea, he learned the business and referenced important information so that he can make important and calculated decisions.
• Continued Education: To the day, Nall continues to learn from those that he hires and puts on his team. He finds education from many people, no matter their skill level. He tries to find the people that will make his business creative and unique.
• Values: Honesty, integrity, support for others, and hard work is something that Nell and his company focuses on. 

Entrepreneurs and their Example

This week we talked about various entrepreneurs and the things they did to find success. Steve Jobs was one individual that we talked about. Some ideas that I thought was important about Jobs were the following:

• Do what you love. Many times, we do things out of convenience, or ease, but do we ever do anything because we love it? Do what you love, and don't have any regrets doing anything other than that.
• Education. Education can be a defining factor of what we do in life, but don't let it. Take things that excite you, or could be beneficial for your future. 
• Connect Dots. At times, we may do things that we may not understand. Later in life, we will be able to connect dots, and those things we may not have understood at the time, will make more sense to us later.

I also talked about Richard Branson and the Virgin brand. Virgin has taken various attempts to tap into other markets. Why not if you are a well known brand? Branson and the Virgin brand tries to take advantage of their name and the opportunity to penetrate potential markets.

The Challenge
This week we finalized our $100 Challenge. This week I put a PowerPoint presentation together, and broadcasted it through YouTube. I feel very good about the work that I have done, and the work that I plan to do. I feel that this challenge helped me find a good business industry to tap into, and has landed me in a great market to operate the business.
I would have worked more diligently in getting more product out to our customers' friends and connections. But, I did find that our networking efforts will assist us in our future goals in helping other customers. Now, we have a basis for the company, we just need to continue our efforts and make Media Pro what it should be. 

The Hero, The Challenge, and the Family

The Hero and His Family Business

     Erick Slabaugh started young. At the age of 19, he started working for his father’s business in hopes that he would become the next boss in charge. Many of the lessons will keep the family and business relationship healthy.

     ·      Courage. Erick noted that his friends and colleagues were making money, having fun and seeing success. Erick was working and he was not receiving much. He realized that he needed to overcome the fear of failure, and the fear that comparisons would distress the business owner is something Erick learned.

     ·      Mentors. Just like many entrepreneurs we have heard from before, it is important to have someone with a little more wisdom in the industry to help you. It is important to have someone that can keep you in check or in a position that will help the business tremendously.

     ·      Mistakes. Focusing on the core business structure is going to make the business more successful, instead of following risky trends, especially if the business doesn’t have a background in it.

     ·      Values. When one realizes the importance of a family member’s safety, health and well-being, it is smart to protect those feelings and values that will benefit the business and the individual/family member in the long run. Think of this as a way to protect your loved ones.

The Challenge, and Family?

     I have been really busy getting the challenge underway. I have already created the logo, started creating product, starting working with suppliers, and distributors for future sales, and various entities that I feel I have started to make successful strides in creating this business. There are many times where I feel scared, but this past video has reassured me of what it takes to run a business. Values and Courage! Not having good values is not my problem, but having the right values to take me to the next level is my weakness. I have become fearful that what I am doing is not the right thing, but this fear and doubt is going to take the best of me. I, like Erick Slabaugh, need to remember that it isn’t about comparing ourselves to peers that are making money, it is the long-run impact that the business is going to make is what we need to focus on.

     I am getting ready to finalize this project for next week. I feel that I have made important realizes and changes as I was able to create the business and sell the product.
     One thing that I realize is important is how much my family has to take a part in this. I feel since this business is meant to be operated by my family, it is going to be important to start including them in decisions and projects. I do realize that family is important, the business is helpful, and our lives are busy. But, I do know that as a family, we can support each other, just as Erick's father was willing to help him go to school

Franchising, Nicole the Hero, $100 Challenge Update

Franchise, franchise, franchise. Here a franchise, there a franchise, everywhere...a franchise!
How many of you have worked for a franchise? I have. But, my franchise is no ordinary franchise. My franchise that I worked for is infamous Utahan frozen custard store. As I was able to reflect upon my time in the frozen dessert franchise, I was able to understand the ins-and-outs of franchising. I knew that we had to purchase certain product, we were in charge of our own marketing, and we had an owner that worked really hard.

Part of this week was spent analyzing the hands-on manager and how they can be affected if they are meticulously involved or lazily uninvolved. There are many pros and cons from both side of the realm, but the happy medium was always difficult to attain. If there is one thing about franchises that I want to point out, it is the idea of a global standard with all locations and facilities. I'm glad that my favorite burger joint is the same, or closely similar to the others.

Here baby, have a leg warmer!

We were able to look into the life of Nicole Donnely. She is a woman, a mom, and a young entrepreneur, yet, she is able to create a product that is quite useful and beneficial for babies everywhere. Some points that I was able to pick out from her interview were as follows:

• Embrace and control fear. There are many times where we become committed to something in our lives, and in the middle of it, we become fearful and doubtful. Nicole said, that if we embrace fear and control it, we are able to overcome any obstacle and accomplish our tasks.
• Leader versus member. This is a difficult task, but if we focus, watch others in a similar situation, we can lead others successfully.
• We should rely on others that know what they are doing, that help overcome our weaknesses, and understand the basic language of finance and money.
• No matter what our situation, who we are, and what we do, we should always to look and learn for ways to get what we want.
• Give back. Nicole, she saw her company changing the world, but it also gave her a better opportunity to serve more individuals that could use the help.

The Challenge
I have been really busy implementing my product into the market. Because I got really excited with this project, I opened a website, started emailing vendors, and am in the process of attaining inventory. I have come to realize that this challenge was more than just becoming motivated to do something with our entrepreneurial spirit within myself, but it made opening and starting a business   more entertaining and educational. As of right now, I am in the process of acquiring customers to purchase my product (even though I have one main customer which will purchase from me) and finding help with other aspects of the business to get me up and running. This eCommerce business is starting to take shape, and I am the official owner of the company. MPNV.CO. I'm hoping that I am ready for what comes up ahead.