Wednesday: DAY 3

Today, we mainly discussed and performed research. We discussed the two types of research as well. Primary research, which is research done directly while secondary research is carried out indirectly through other existing resources. We discussed the type of primary research methods we could do, such as surveys and interviews. For the secondary research methods, we looked up the different databases and websites looking for information related to our possible business plan. The research I did helped me get more familiar with business and made me confident I could get the right research for it.

We also later watched another episode of Shark Tank. In the episode, we discussed whether we would have made the deals that the Sharks made. The TV show is definitely showing me how creative people can be and that there truly are hundreds if not thousands of business ideas that can see success.

Tuesday: DAY 2

In today's class we learned more about our future business plan. We went through the contents of what our business plan will consist of as well as why we need business plans. We then learned about each component. Each one serves an important purpose. They each are very important for the business plan. If each component of the plan is put together well, the presentation you put on will have a much better chance for success.

Next, we discussed organizations and how some are made up. We discussed Apple and if they will be able to have new, successful, and innovative products in the future. We also discussed competitive advantages and the factors that go with it. Like quality and price.

We also went over our E.E's. I found that nearly all of the screen printing companies had high quality services, but none of them had their own brand. That is where I would set apart from other companies. I would have my own brand; my own clothing line for my customers. That way people that buy the brand will use by screen printing services as well as my screen printing customer will purchase my brand.

Monday

The January Term is starting and so is Entrepreneurship class. For the first day, I mainly learned about the syllabus for the class and what we will be expected to do over the next two weeks.

We learned about chapter one of the book which mainly was basic information and talked about the positives and negatives of taking the entrepreneurship path. 

We also discussed possible entreprenuerial experiences and business plan portfolios. The entrepreneurial experience my group discussed was for a campus concierge service. Basically, we could help students find places to entertain themselves, places to eat, specific service businesses as well as transporting students or providing wake up calls and reminders. The business portfolio idea that I came up with was related around a shirt screen printing business. These are the ideas we discusses and are also the ones I think we are going to stick with.

Later, we watched CBS's Shark Tank. This was a show about millionaires who listen to people's business plans and ideas and have the option to either give provide a financial sum to them in return for a percentage of the company. This program showed me that there are a lot of entrepreneurs out there who have great ideas and products but are simply missing the right finances. 

Being an entrepreneur can be difficult but has its many rewards.