Don't even know.

Honestly, I've learned a lot from this course this semester. The marketing plan that we made really helped me plan out what I need to do and what I need to refine to get my business up and running. I have a long way to go, and now I am more determined than ever to get things started. The only problem I foresee is getting the capital to start it up. But, I just made a large purchase, so hopefully, that will raise my credit score even higher than what it is, and will give me a longer and more recent credit history, which will make getting a loan to start the business easier. I truly believe that the bar will be successful in the long run. Now it is just a matter of opening.

Entreprenuership interview

This week in class, we interviewed an entrepreneur, Jen Britt. She ran Jen's Bakery in Holly Pond. During the conversation that followed, I learned several things. Most important being, you have to dedicate every minute to the business. Doesn't matter if you're tired, or sick, or just don't feel like doing anything that day. You also can't put half of your attention on it. It's all or nothing, and when nothing isn't an option, it's everything. Blood, sweat, and tears go into building the dream. Once that dream is accomplished, the amount of pride you have in it will be all the motivation you need. Another thing I learned is that you have to be patient. Your business wont just take off overnight. You have to build it up steadily and solidly. 

burnout

At this point in the semester, it seems like everything is a mad dash to the finish line. We have little more than a month left and it is around this time that many people start to give up mentally. Every assignment leaves a headache. Motivation is non-existent. Every deadline is dreaded and postponed.
The point being, taking time for yourself to mentally reset is important. Take one day, or two, and relax. Take a nice hot shower/bath. Read a book, cook a meal. Go have an adventure. Do whatever you have to do to get your mind right on whats important. Working yourself to death helps nothing and no one in the long haul. So take a break. Breathe. Focus on yourself first, then get back to it.

location, location, location

You hear it all the time in real estate commercials. "Location, location, location, x house is only min away from points A, B AND C!" Why is that phrase all over the place? Because, no one wants to be an hour away from the closest Walmart. The same goes with opening a business. You have to be in a good location for people to come and patron your business. If you run a high end fashion store but you're out in the boondocks of Kansas, you arent going to get a bunch of customers. There just isnt the market for it. You have to study the potential area you are going to open up shop in. Is there a large number of your target market readily available? Is the building new? Is there going to be enough parking? Is it well lit and easily accessible? All these questions and more are important factors in the location process. This is easily one of the top three reasons, in my opinion, that small business fail-terrible locations.

target market

Businesses fail. It's a fact of life. One reason for this is the business overlooks or misjudges its target audience. The bar I want to open for example. I probably shouldn't market to people over 55 or under 18. I need to focus on young adults aged 20-45. Otherwise, the people coming into the bar wont come back for repeat business. It can be easy to misjudge your audience. you have got to have a targeted, focused plan set forth from the start.

Image is key

This week in class we're working on elevator pitches for our prospective businesses. During this process, I have learned that confidence and image are extremely important when marketing your ideas to other people. When the owner/inventor of a company is not comfortable talking about their own idea, then the prospective clients won't be interested in giving you their money. Even if you are not the best speaker, fake it till you make it. Go through it in your head. Get a trusted friend to listen to a pitch you have, and see if they have any critiques about it. Other people tend to catch mistakes more easily than you can yourself. Also, if you mess up in the presentation, do not freak out. They don't know its a misstep. So, go with the flow. The more at ease you are the more likely you are to succeed. 

Business Cards

Business cards can be a lifesaver for your marketing plan if done correctly. Business cards are cheap ways of introducing yourself and your company to literally anybody that you meet. A stack of 500 cards will cost you about $20-$50 depending on where you buy them and how detailed you make them. Granted, you might want to spend a little bit more than the bare minimum on your cards. No one wants to get a plain white business card with your information in 12 point, times new roman. Add a nice picture to the background that is relative to you or to your business. That lets the customer know who you are, what you value, and what your company is, just at a quick glance. Keep the information brief; your name/your companies name, address, telephone number, and one or two social media platforms. Slip a business card to every family member, acquaintances, business associate, and worker you know. It's a fast way to get your business out there and hopefully, word of mouth will spread with your cards.