Sunday, December 14, 2014

C4E In Class Reflection Blog Week 2

This week was full of big steps forward for both of our projects.  In the 200$ project the calendars arrived and we have begun selling.  In the storefront project, we finally have official business documents that show the cost of goods and estimated profits.  Although these were big movements, they somewhat unsettled me.  It's awesome that the calendars came and that we have a good product that we can sell.  However, it makes me nervous that we have 100 calendars worth of inventory.  I don't want to let the school, or our investor Kamil down. I want to make sure we can get their money back.  In addition, in the store front project, I realized that we are going to have to cut our costs dramatically if we want to sustain profit.  I'm starting to get a sense of the enormous amount of work that is required to run a business properly.  The first couple weeks, our group was definitely over excited, and we kind of assumed that everything would be easy because we had really good ideas.  However, now I am coming to realize that even with good ideas, we have to work hard to turn the ideas into profitable companies. I'm nervous about the challenges that face our group in the next couple weeks, but I know that our group is full of hard workers who will do what it takes to preserver through it.

1 comment:

  1. If any group can sell this inventory, it's you guys. You've got energy and creativity, and this is what will make this work. Yes, good ideas about a product aren't enough. Now you need good ideas for marketing and selling this product. Keep working (as a team) the way you've been working and I'm confident that sales will follow.

    Yes, running a business is nerve-wracking!

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