Entrepreneur Journal – Entry 11 (B283)

This week’s study was focused on buy outs and family businesses. It contained a case study about a father-daughter business that I found quite impressive. I love to hear stories about successful entrepreneurs mainly because I still feel like I’m so far away from being one. It fascinates me how they understand how to create a business out of nothing. I wish it was something that came naturally to me, but it unfortunately isn’t. I love studying it, but to actually create a business on my own is hard to imagine.

There was also a case study on two Harvard students that were researching the dry cleaning industry. It’s the first case study that didn’t have me panicking because of the risks the people were taking. These two students did an incredible job of research and due diligence – and they did it for over a year and over quite a few areas in the east. They researched both starting a business from the ground up and buying an existing business. The thing I think I appreciated most about his study was the thorough way in which they researched all aspects of the industry as well as taking part in hands on experience.

Next Tuesday my $100 Challenge assignment is due. Lately I’ve been so busy that things are getting done until the last minute. It will be nice to have this assignment squared away and see how well I did. I haven’t had a chance to calculate everything yet.

Entrepreneur Journal – Entry 10 (B283)

This week’s study was on the subject of franchising. It covered the pros and cons of purchasing a franchise. It was fun to research the different franchises available in my area. I decided Terry would probably be really happy in owning an ACE Hardware. It’s a great company with a wonderful training and support system set up for franchisees. I watched a video of a couple that purchased a franchise. I loved how they customized their ACE to fit their tastes and the needs of their community. They even built an entire kitchen in their store where cooking classes were taught. They had a great display of dishes and cookware. I’ve never seen an ACE like it. It makes me excited to see the prospects of how you can put your personality into your own business even though it is a franchise. Of course, not all franchises are that lenient. I think that’s what I really appreciated about ACE. They want each store to have that home town community feeling about it.

We also studied several article on Steve Jobs. What an amazing man! I love how he celebrates the “crazy ones”. He says in order to succeed at changing the world you’d have to be crazy. He also says you have to be passionate about what you do. If you’re not passionate about what you do, you will never be able to endure the hard times that inevitably come with starting a business.

I haven’t had a chance to finish up the paperwork on my $100 Challenge. I was hoping to get that done this week, but it looks like I’ll be doing it in the next few days instead.

Entrepreneur Journal – Entry 9 (B283)

This week has been great. I think my favorite part was the Action Hero Videos on Catherine Rohr and Corey Bell. Catherine has taken her talents and implemented them in the criminal systems in hopes of giving them the ability to become an active participant for good in society once they are out of jail. Her efforts to teach them have given them so much hope that they otherwise wouldn’t have. These men are now becoming supportive fathers, business owners, contributors to society in speaking to youth groups, etc. I am so impressed with her efforts and the impact for good that she is having on what could be generations of people. It seriously makes me want to look into how I might be able to help as well.

Corey Bell was very impressive with an attitude that could conquer anything. To him, nothing is impossible. “Can’t” is a forbidden word. He believes our number one value is that we are people of character, passion, and intelligence. He believes we are all called to be people of impact. To give back to our societies and to bless the lives of other through our abilities.

Both highlighted Action Heroes are amazing people. It was a great experience to learn of and from them.

As for my $100 Challenge, I’m just needing to finish up my PowerPoint Presentation. I’m excited to see how everything looks on paper in a nice organized “business plan” sort of way:)