Business 183

To me the most impactful message that we learned this week was from Clayton Christensen's speech where he stated, " The lesson I learned from this is that it’s easier to hold to your principles 100% of the time than it is to hold to them 98% of the time. If you give in to “just this once,” based on a marginal cost analysis, as some of my former class- mates have done, you’ll regret where you end up. You’ve got to define for yourself what you stand for and draw the line in a safe place."  

This is so true, the first time that we adjust our standards; we start to slide down a slippery slop of justification.  The more that we have to justify our actions the more questionable our moral compass becomes.  I think that the society’s ethical standards continue to decline and if we judge ourselves against others than we become susceptible to the declining moral standards, but if we maintain our integrity by never compromising it, we will have peace.  I have watched good men and women become ruined based on unethical business practices, but the most devastating part is to watch them grapple with the consequences of actions because success was more important than their integrity.

 

It has been a pretty good this week. I have been thinking a lot about my $100 project, and some ways to help it grow and make it more successful. The first step was making my business plan. At first I was little unsure about. Before creating a business plan I did not see the point. I thought it was just have something on paper to show that to you have plan in place. But I realized how valuable it is was after reading the Heather Evans case study. Heather Evans created a great Business plan. It outlined everything that she was going to do for the next year or so, and how she was going to accomplish it. To me that’s holding yourself accountable to your company, and to your desire in create a great product. So lesson learned I needed to make a good business plan in order to create a successful business. Besides creating my business plan I decided to walk my neighborhood and gather some research how many curbs addresses are painted. To my surprise they are few houses that have them painted. I got excited about the opportunity that I have to potentially create profit for my company. I need to stick with my business plan, and work hard to for this challenge to be successful.

Week 2

This week I have been debating what project that I should due for the 100.00 challenge. I think I'm going to start junior golf camps for kids. The initial investment will be about twenty dollars and my brother in-law is going to loan me the money. I need to get the word out to the youth in my neighborhood, and let some of my friends know what I will being doing. Hopefully it will be successful. It was not easy coming up with an idea for making a profit of $100.00. With only $20.00 to start with I found that there were a lot of things I could do with the little investment, but it would take longer to earn total profits of $100.dollars. I have been thinking if my golf camps are successful I could potential use the profits to start another small company to try and earn more money. I do not know if I have the time to do this, but if I do I think it will allow me to make some more money. Still too early to tell. I am excited about this project, and hope I will be successful. Stay tuned until next week.