Week Eight

I'm finding some decent tie selling success. It has been rough this past week though. We decided to head down to California for a week to help my mother in law because she just had shoulder surgery and can't do much around the house and then before we go back to Rexburg we are planning to visit family in Washington. My family decided to visit my grandparents and cousins in Washington and didn't tell us until very recently. So these plans formed very last minute and on the drive down we got into a huge car accident and our car got totaled. Thankfully my wife and I are both safe and healthy, but it is safe to say that our plans got a little turned upside down. Now that the scary part is behind me, I'm hoping to try and sell some ties out here as well and in Washington.

A lot of what I have been learning this week and not only in this class has been about customers. They often cause you to find a product that needs to be made or introduced, but not always do they know exactly what they want. Risks are often rewarded, but not always is the risky thing to do the correct one. You have to listen to those you are trying to help. They often know what their problems are. Not always do they know the perfect solution, but they know what they don't like. They also need to be paid attention to. We have to focus on them and how we are helping them and that the problem we think we are solving is actually a problem and that our solution is a real solution.

Week Seven

There were a lot of good things this week. We watched a bio of Bud Brigham. He is very into finding your purpose in life as that will guide a lot of decisions you make. He mentioned how he found this for himself was reading and studying philosophy. He also says it is important to surround yourself with similar values and beliefs. We also read some things about the importance of dedicated employees. There are a lot of ways that employees help the company. They can be detrimental to growth if they aren't dedicated and feel good about what they are doing. And a video we watched about Zappos and how they value their employees. They offer their employees money to quit. They pursue a higher quality of environment for their workplace and committed employees is how they accomplish that. those that take the money are those who were working for a paycheck. And then those that don't take the money are then more committed to the company because they had to make a decision to stay.

I've decided to sell my own ties to try and get more money to then buy other ties. I think that is the best decision based on what happened. A poor investment, but I would like to stay under the $20 startup cost. Of course this means I could've just started selling my own ties first and have avoided this whole debacle, but that's what happens with a sunk cost.

Week Six

Progress continues on the $100 challenge. We had to make an elevator pitch this week. It was interesting. I felt as though my idea may be too simple. Everything has been very straightforward and obvious to answer. I have been having a lot of fun with this assignment all the same. I have been finding a better source for ties and setting up a Facebook page to advertise with.

Every week we have to watch a video about an entrepreneur. This week was about Phil Romano. He is an interesting man. I really enjoyed something he had to say. He said that doing what people told him not to do is what got him where he is today. A lot of people tell others things that they shouldn't do because it's too risky or it won't work. These people care about you and know how bad it could possibly go, but that is how it all happens. Failure is something to be expected. We read something about marketing this week too and in one of the clips it said that 80% of products that come out brand new are off the market within the first year. Either they failed or are obsolete, but that is what happens. You need to pursue your dreams and goals and do what you love. When you can do that, then it doesn't matter how it all turns out, you'll be happy with the journey.

Week Five

I really enjoyed what Elder Hales spoke about. How can we provide for others outside our family if we cannot control how we live with our family. We must control the home before we can be expected to take care of things outside of our control. We are responsible for relatively so little. A big thing to think about is are the things we do to show love for our family or to show to others that we are a good provider. I love my wife very much and want to show her I love her but oftentimes I feel as if I am just trying to show off to her that I am the provider for our family.

This week I was working on where to buy ties from instead of the first place I found. I have already lost that initial investment. I will still see if any is salvageable, but I imagine I will just have to spend another $20 on other ties. No ties have been sold as of yet. I need to find new ties and sell the ones I have already if I can.