Journal

So The case study we did in b183 was very interesting I really have been looking into opening up a franchise one day and also building my own company and I feel like the franchise would really give me a steady income until the time comes that I am ready to start my own business. One thing I really found interesting was how when you chose to open a franchise you put your neck on the line and I never really saw how risky it would be. I also did not know how much the franchiser lost in terms of control of his company when it decided to become a franchise. But over all I thought it was very interesting I enjoyed the thoughts and insights everyone had in all the other groups and each had a different opinion but over all most thought it would be a better idea to make one of the companies a franchise and then make the other a family or privately owned business. That way with the funding from the franchise you will be able to open up the store you really want and enjoy. Over all I was able to obtain much more insight in this case study then all the others.

Good to great starts now

Etp journal 50

I am amazed at how much I have grown and changed since the start of the semester I have found a new love for economics and I find it very cool this change and how reflecting in class about  finding the perfect job  that best suits you. I am now looking into other alternatives and jobs that may bring me more joy in my life I am even thinking about starting a YouTube channel and see where that goes. What I plan to do is upload video games videos and music videos I feel like it might be fun and something I enjoy. This idea was very interesting and I even got offered some help from a classmate who works with YouTube and it got me excited. I also want to be able to better my financial life and really would like to be able to live that dream . While reading this last case study I was able to learn a lot about money and growing a business and some sacrifices you must make in order to go and make a business. I also thought of what I would have to do if I made a business how I would be able to grow it from good to great. I still have a lot to learn but I still think I am starting to get my life on track and figuring out exactly what I will be good and what I want to invest my time.

sell anything ... sell everything

So in this past week we did the sell anything challenge and it was so interesting we sold out and made money in about 1 hour and a half of selling me were profitable and in such a short amount  of time we were able to sellout. I was thinking of maybe selling this for the IBC course because everyone we sold to said there is no bubble drink around here and they were willing to pay up to 5.00 $  while we were only charging 2.00 $. Another thing that we enjoyed doing was using Venmo as payment many times people would wall up to us and say they did not have money so I would always ask if they had Venmo they would say yes because now in days people always have their phone on them so that would guarantee us a sale and we would make money with the Venmo cash transfer app. I enjoyed selling the drinks with friends and had fun but even though I am a great sales man I really feel like it takes a lot out of me and after words I am really sad and tired so I cant do it for long personally but still over all enjoy able and I feel like it was a success.

#7

This Week Was an interesting week I was able to learn a lot about many different kinds of industry’s , but what I was interested how chik fil a ‘s industry and market plan was so amazing and well thought out. In class we were able to analyze what happens to the market and how there business plan as well as its origin. It was interesting to me that even though they don’t open on Sunday we have some students in our class that worked for them and had a awful experience and how we customers don’t see that we just love it and how we are treated so well.  

Sometimes its easy to over look the reality but for us to have the comfort and amazing customers service comes at the pain and suffering of others sometimes. But over all chik fil a is a respectable business and has made a great name for its self it truly is one of a kind and stands out in the fast food industry.

One thing I think really made it stand out was its religious back round it really does set it apart from other fast-food industries when you think of chik fil a you think about great food and service quickly you also have positive thoughts such as family and love. As for McDonalds you think of cheap food and things that will make you fat not smile and that is one huge difference and point that makes it different from all others in the industry.

journal 6 :)

Business journal

Its interesting that when we go to class we always learn something new , but I was very excited in class to be able to plan out the sell anything challenge. Its going to be quite the adventure because we are going to be able to put skin on the line and practice our business abilities, we plan to try to sell food to be able to make profit and give that to charity. Its not always easy to make money and we saw that coming up with an idea and something that everyone was excited about and wanted to sell. So from what I have seen so far in a business and running a company your going to have to make4 choices sometimes that not everyone will 100 % agree with but in order to move forward and have growth we have to and are forced to make choices. Another thing I like and learned in class this time was that many times we try hard to but as everything we do its not always easy to make the money you spend back, a lot of people in our group really wanted to make the money they spent back. Its scary to think you will lose the five dollar investment and it actually represents in the future hundreds of thousands of dollars or maybe even millions of dollars. But in the end we have courage and hope that all will go well and we will be successful force of will and our spirit of adventure overcome that fear.

journal 5

Journal 5

So this week in class we had an interesting case study continuing  and build off the one we had last week. It was very interesting to see how the bowling company though more profitable had changed so much. One thing my group thought was really importin was the name change it never occurred to me that a name change in a company could be so significant. When the name changed from west lakes bowling to sugar bowl many people in my group started to think it was an ice cream shop or maybe something to do with football. The name of your business of industry can make a huge impact on marketing and sales and what people think about it. We were also able to get some ideas on how we would react in Givens position and what we would like to do differently , I would like to sell the company at this point if I was her and pay back her loans and all her debit. I also had an opportunity to speak wit h some of my mentors and ask them questions it was very interesting to see how happy and successful they were and most of them. Still have a strong wish to grow and help those around them and give back its truly a commendable characteristic. Most of my mentors even thought they are very successful are still humble and remember their roots and they are able to be more successful because of this.

Case study West Lakes

Journal reflection 4

This week in class we had a very interesting situation to analyze and learn about an interesting case study in which we were able to see how the west lakes bowling center was able to make a comeback from a failing company to one that produces revenue. And what interested me in this business situation is how its growth is exponential. One interesting point that was brought up in the class was would it be worth to sell, buy or liquidate the business. At first, I thought it would be worth to liquidate the business but after putting more careful thought. I feel with some more improvements the West Lakes bowling place could become a wonderful hangout spot. Another reason I would like to buy the business would be because it has history and many people and families know this place as a hangout spot and I feel like that’s is its main selling point. And the numbers from 2008 – 2010 don’t lie in less than a year it began to turn profit. But overall, I feel like I can take a lot from learning from other business and other peoples experiences and apply it to my own life.