This week we learned the importance of having a plan. One of the things that was discussed in depth in the discussion boards was the need to really vet your plan. This was evident as we read about the Italian restaurant. One of the things that may have been missed in this project was taking in to account the demographics. This area is was in the Southern US and itialian restaurant doesn't scream "south".
In our other discussion board we discussed the value of not being consumed with debt. One of our Acton guides Desh Desdpande showed how money isn't the mother of innovation. A strong desire and hard work can make money go much further and yield a much better return.
$100 Project
This week we submitted our business plan for the $100 challenge. We also discussed how we would fund this venture. I received "birthday money" from my grandma that I will be using as my initial investment for this project. I have already called and received her permission to use her, and this donation, as an angle investment. With my investment I will be printing marketing materials and purchasing additional combs so I can cut more hair without having to stop and sanitize my materials. I am still waiting on final approval from Kevin to use the office to do a few hair cutting days. As it sounds right now it might be 1 or 2 days only and it would be an open haircut day for employees and family. To fulfill the time requirement for this project I will also be offering professional hair care products as a significant savings that can be mailed within the continental US. I have already gotten some good feedback on this from previous clients and they can't wait for the sale!
Entrepreneur Interview
I will be meeting on Tuesday via phone with Jim Cline of ExcelCEO for my interview. He has also invited me to participate in a CPE webinar prior to the interview so I can see how he markets his courses and the things that he teaches. I am excited for this opportunity and have compiled a list of 20 questions to discuss during the interview.
5 weeks down only 9 more to go in the semester!!!
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