Week 2 Journal Entry

Weekly Readings

Startup Nation

Business Model Options
-Home Based
- E-Commerce
- Brick and Mortar
-E-Bay Prenuership
-Franchising
-Resource  
- Multi Level Marketing


Points of Pain 
-Most entrepreneurial ventures are created out of frustration
- Instead of wishing for the person to "be a man" and quit complaining, the entrepreneurial mind will listen carefully and see the opportunity in the person's complaint.
-Look for a more simple to access a good or product.
- Something that can make life easier.
- Product or service "flaw.

Top ten principals and practices  
- You want to be an entrepreneur. you need to lead.  This is how I would summarize all the points.
-Exceptional customer service.
- Training and Developing skills 
- Have integrity. 



$500 Dollar reflections
- My group switched gears and we threw out the T shirt idea and are now whole heatedly pursing a Valentines gift bag business.
- We've already set up a bank account and have assigned group members to either marketing, sales, or finance positions.
- We are bringing samples of gift bag designs and products to class on Tuesday
- We have named our business "Double the Love".  You buy from us you aren't just showing love to your significant other or family member but you are also donating to a charity.



Action Hero Video
-= Harvard business school seems crazy!
- Case studies are effective because they allow you to analyze and dig deep into a real life business and see why it succeeded and where things could have gone better.
- Instructors prepare almost 3x as much as we do preparing the case studies for us!.  At least at Harvard.  I'm sure the same applies here at BYU-Idaho which I highly respect.  






Personal Reflections

-Look for the opportunity in everything!  This what a true entrepreneur does.
- Working well with others and in a team setting is a key characteristic.  I'm starting to realize this even more while working with my group on our $500 dollar challenge.  I fill like we are a step ahead of the other groups, having already met numerous times outside of class and getting a feel for each other personalities and attributes.
- Wake up with the idea, how can I make life easier for people.  You'll be surprised how many diffrent ideas and opportunities come to mind.
- Don't be afraid to attempt a entrepreneur venture that has already been done.  If you believe you can make it better and even more attractive, go for it.


E Myth Notes

-Your "Strategic Objective" is what you want to do with the business in order to fulfill your "Primary Aim" in life.

-You must speak to people's unconscious minds - all the rational arguments in the world won't win over someone whose unconscious mind has already said 'no'.

-The author explains that in order to make your business work, you must have a "Primary Aim" in life - not business, but your life.  Without that, your business may come to consume you.

-If the business is to thrive, it must move beyond the founder