Reflecting on the Experience

A. The main problem we had was answering the question "Where will we keep the ice cream?" For the first day, we kept it at Taylor' house and had Stephanie drive over there and pick it up and drop it off. By day 2 we had found a safe place to put it.
We didn't have the greatest weather for selling ice cream, which was a bit of a disadvantage.
The guys took our table, unexpecitidly, on day 2. We weren't expecting that, so it frustrated us a bit. By day 3, we were aware the they were willing to pay for our table if they could have our spot.

B. I learnt how to make a profit. How to sell things for enough money to make a profit, but not too expensive, leading to a loss in money. I also learnt how to set up shop in a short amount of time.

How Did Google Start?

Google began with two college kids in 1996 who hated each other, Larry Page and Sergey Brin. They were both really low on cash, so they decided that they would track down loading docks to see if they were able to borrow new inexpensive computers so they could start working on their network called BackRub. Soon, word started spreading about what Brin and Page were doing and was earning them a ton of publicity. By 1998, they had begun improving their technology. They built their own computer housing in Page's homeroom, and they were advised, by a friend from Yahoo, to grow the service, and start a search engine by themselves. They decided to find an investor, Andy Bechtolsheim of Sun Microsystems, who knew that they had a lot of potential. Not before long, Bechtolsheim signed them a cheque for $100,000. The only problem was the Google Inc. had no legal entity which made it impossible to deposit the cheque. They found founders within their family and friends, and they're total investment was close to $1 million. At the end of 1998, Google Inc. started up in California, and was answering 10,000 search inquiries/day.

Shoes for Tomorrow (TOMS Shoes)

Blake made 250 pairs, for each child in the village.
Before 4 o'clock, they had sold 2400 pairs of shoes online.
They hand place every shoe on the children's foot, because the connection that you have with that child is not only giving, but is full of hope and happiness.
In less than a year they went from 5 people in an apartment to 8,000 sqft of office space with proffesional workers.
There are different prices for every pair, but every time you buy one, he gives a pair to someone who needs them.
It's all about putting other people first.
Incorporate giving in whatever you do.
One for One.
Everyone who wears the shoes becomes a marketer of the shoes.
He met a group of children in Argentina who couldn't afford shoes, and within six months of launching TOMS shoes, he sold 1o,ooo pairs of shoes and gave away the same number.

Developing The Plan Part One

1. Why write a business plan?

Developing a good business plan can put you on track to success in a small business. A business plan summarizes an entrepreneur's proposed business venture. It provides an organized report of a company's goals and how management intends to acieve those goals. A business plan is a comntinuing work in progress that should evolve as your business evolves. Developing a business plan is like outlining a strategy for turning your business idea into reality.

2. What to include in a business plan?

A business plan includes a guide to the company's operations, a document presenting your company's strategic vision, and a tool to persuade lenders and investers to finance your business. A business plan also includes a standard by which you can measure and improve your business performance, and it is the basis for making sound business decisions. The elements of the business plan are a management team plan; company description; product and service plan; mission statements; market analusis; industry overview; competitive analysis; operational plan; organizational plan; financial plan; growth plan; contingency plan; executive summery; cover page, title page, and table of contetnts; and supporting documents.

3. What are the key attributes needed to be successful and an entrepreneur?

As an entrepreneur some key attributes are as follows. You need to be able to manage a team, be able to think up names for different plans, you need to be able to research different companies, and be able to do good comparisons. You need to make sure that you have a solid business plan, where you have taken time out to think over everything carefully.

Brainstorming

1. Freezie stand
2. Plant sale
3. Pet sale
4. Ice Cream stand
5. Drink stand
6. School Supply store
7. Book store
8. Music store
9. Food stand
10. School clothing stand


Plant Sale

1. You could sell the plants outside of the school, at other businesses.
2. A lot of people like plants, especially when they're cheaper.
3. It could help raise money for the school.
4. This idea seems the most promising out of them all.

Five Problems

1. It only can take part at the right time of year
2. It's mainly a business directed at parents, rather than teenagers.
3. We'd have to be able to find plants that are cheaper, sell them for cheap, yet still be able to make a profit.
4. The plants may die suddenly, and we could lose money.
5. We will have to find people who will volunteer to sell the plants.

1.Economic Turmoil
2.Green Power
3.The Senior Market
4.Discount Retail
5.Local Business
6.Education
7.Parental Outsourcing
8.Health and Wellness
9.Texas
10.Affordable Alcohol



Education
A lot of people are returning back to school, and total enrollment at university and college is over 12 million, and is continuously getting larger. This is due to the people who are unemployed and others who are wanting to upgrade their education for future job positions. There is a new degree in Digital Entrepreneurship in 2010, and there will be a high proportion of adult learners in the first group of students. There is also a tour that teaches students about entrepreneurship and is founded by past entrepreneurs, authors, and lecturers. It includes workshops, speed-networking sessions, panel discussions, and keynote speakers.

Google

Google hosts and develops a number of internet-based services and products, and recieves it's profit from advertising. It began in 1996 as a research project. They accept employees of all ages and they're always working, while trying out new projects. Everyday, the employees at Google are trying to make researching more efficient and easier for it's users. The employees love the atmosphere, and feel very welcomes whenever they go to work. Google always puts employees first, and they put users first when it comes to online services. Every week google gives you 20% of your time for something that you would like to do for yourself, that's 1/5th of your time.

What I Learned from Arnold.

He is a most unique human being who came from a humble origin. He's keeping himself repected, and the best is yet to come.

I learnt that if you want something, all you have to do is go out and get it. If you don't try, then you don't have any chance in succeeding. Once you get up enough confidence there is no harm in trying your best and going for the things that you want in life. Even though he just started as a regular person, then becoming a body builder, he is now the governer of California. Keep your mind to it, and you will succeed.

Blue Ocean Strategy

What is it?

The Blue Ocean Strategy is based on the idea of creating new markets where none previously existed. Blue Ocean thinking has not only created new industries- it has created exceptionally profitable new industries. Blue Oceans

Examples of B.O.S?

Cars, recorded music, aviation, petrochemicals, iPad, Starbucks, Southwest Airlines, The Body Shop.

6 Principles of B.O.S?

One: "Reconsruct Market Bounderies"
- re-evaluate the premises that form your industry's assumptions and shape your company's business model. Strategically examine your industry's key competitive drivers to create a "strategy canvas" that displays each factor graphically.

Two: "Focus on the Big Picture. Not the Numbers"
- keep your eye on the overall view and don't get lost in the statistics. Use a "strategy canvas", a graphic representation of your competitor's products, prices and industry positions.

Three: "Reach Beyond Existing Demand"
- focus on potential future customers.

Four: "Get the Strategic Sequence Right"
- execute your strategy sequentially to achieve your "value innovation." The technology must provide convenience, safety, and entertainment.

Five: "Overcome Key Organizational Hurdles"
-to implement change with minimal disruption, use "tipping point leadership." The key is using resources when they are most powerful.

Six: "Build Execution into Strategies"
- reduce your management risk by incorporating blue ocean implementation onto your company's ongoing processes.