Entrepreneur Journal - Entry 2 (B283)

There was a lot of really good material in our readings and video assignments this week.

President Hinkley’s talk was very moving, especially since I love him so much. His message was one of love and hope for the youth of today and his belief in their potential and abilities.

There was a great Power Point on Entrepreneurship that contained two quotes that really stood out to me:

“Our doubts are traitors, and make us lose the good we oft might win by fearing to attempt.”

-          William Shakespeare

“Every discovery in science and are that is really true and useful to mankind, has been given us by direct revelation from God.”

-           Dallin H Oaks

My $100 Challenge venture has been crazy this week!!! I sent an email out to friends and neighbors of the assignment details and what “company” I was starting and the product I was offering (Handmade Valentine Banners in two varieties: hot pink and black patterns and then one in vintage patterns.)  I couldn’t believe the response! I had almost 3x as many orders as I had anticipated and prepared for. So most of my week has been spent getting those orders filled. As a result my homework has been piling up – not good! I’m tired and I think by brain is numb from cramming so much homework into such a short time. Three classes is way too much for me in one semester. It’s ok, I’ll sleep in April when the semester is over:)

Entrepreneurial Journal – Entry 1 (B283)

I was asked to start a blog for an entrepreneurial journal earlier in the year. Since I was asked to do it again for this class (B283), I thought it would be a good idea to continue posting on this blog so all my thoughts and ideas will be in one place.

My favorite part of the journal entry requirements is that we are to relate what we learn in class to the teachings of the gospel. I love how the curriculum at BYU-Idaho is all based in gospel principles – no matter what the class. I remember last year getting teary-eyed over a lesson on Production and Operations Management. It was a priceless experience in which I realized, even more than before, how the Lord is aware of everything we do and that everything we learn, that is good, is from Him. It was nice to know that He cared about my Production Operations Management class and was the source of the information I was learning.

In this class I have enjoyed so many things about the world of entrepreneurship. We are required to create, fund, and run an actual business for at least four weeks with only a start-up budget of $20. By the end of the semester we are to have made a profit of at least $100 which we will be donating to a charity, Kiva, which is very similar to the Perpetual Education Fund. This is actually my main motivator to do well – even more than my grade. I love the idea of raising money for a good cause.

Since the start-up budget is so small I figured I would need to sell a service or a low-cost product. I narrowed my choices down to either teaching classes on knitting or selling holiday banners made of scrapbook paper. I decided on making the banners. I presented a variety of styles and paper to a few people to make sure I was creating what the customers might want rather than relying solely on my own tastes. That was a really valuable experience because what supplies I had chosen to use were not what the others had chosen. So I purchased the paper that they suggested and the remaining coordinating supplies. I was so excited that with the coupons I had my total came to $19.75!