B 283: 06 Lesson 4 Weekly Reflection

A great lesson learned this week was through Heather Evan’s case study.

While Heather’s efforts were commendable, she failed to properly create a suitable business plan.  As a small business owner, it may seem helpful to seek guidance from other professionals through networking, books or the Internet. However, it is important to assess whether the advice is appropriate for your business. I think a major issue with Heather's plan was that she used generic advice to create a generic business plan. Each industry is unique and must be treated as such and planned for accordingly. Seeking business advice from successful people is beneficial, but specific details should be sought out from industry leaders.

$100.00 Challenge Update

As I have stated in some other assignments, by MOC commission business is more a formalization of a hobby I have. Since the beginning of the semester, I have put a hold on this. Today I reopened by commission requests are got an order!

Due to the nature of my business, I have a great concern my classmates and professor will see my idea is unviable or non-profitable. With this order, I will hopefully be able to prove that my commission business has the ability to become successful.

I’ve also spent some additional tie investigating similar businesses to see how they operate and what they offer. Most seem to only offer pre-packaged sets or instructions. Im considering adding this to my business as well. Perhaps they know something I don’t.