Week #3

This week for the $100 challenge, we were given the assignment to create a one page business. This was the first time I had the chance to really dig into the details of the service I planned on providing. It was challenging at first to come up with a mission statement because there are so many directions I could go with this business. Am I going for affordable, convenience, fast, etc.? I also enjoyed going in and crunching some of the numbers for the objectives section. Expenses add up and you really have to be thorough to make sure you are accounting for the details. It was a good experience to practice some of these things at a smaller scale so that I could learn the basics before doing larger scale write-ups.
From the class reading and discussions, I really gained some valuable insight from the Heather Evans case. My main takeaway from the case is the importance of developing a feasible strategy in the beginning stages of a business. My main concern with the Heather’s strategy is she was focused too much on the long term like franchising out her name. That takes years of brand recognition and really shouldn’t be her focus in the beginning stages.