Uncategorized

Be Smart – Entrepreneur Journey

This week we talked about overcoming our fears. There are many fears that I have and that I need to overcome. This week we learned about setting SMART goals. Basically, we have to set significant, measurable, attainable, relevant and time-bound goals to be able to set goals to overcome fears. One fear that I want to learn to overcome is the fear of failure.  I believe this is essential to put in place and set a goal to overcome these fears. I know for a fact that if I set a plan that I will be able to do it and see my progress overtime.

Also, another insight I was able to gain was that in order to achieve any goal we have to set a time period in which we want to accomplish it. For example, I want to own my own clothing boutique by the age of 28 and in order to put a path for it to happen there needs to be a plan set. So, while I work corporate until the age of 28 I want to have my location bought by the age of 26. I want to have my final vendors in place by the age of 27.

So, overall we have to set goals to achieve what we desire.

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Lessons Learned – Blog Post 8

Through-out this course I have learned so much about creating a website. I had no idea how complicated and how much work it would take to create something that is catered to what I want. It surely has been a rollercoaster ride trying to figure out how ad campaigns would work to what makes them bring traffic to my website. Or trying to figure out how to insert code snippets into my website to track conversions. But overall, I can honestly say I have learned all of that and more. Through trial and error I have seen myself struggle and get frustrated, but the outcome is more satisfying because I had to go through all the struggles myself.

I would say the most satisfying part of taking this class so far has been creating an Ad Campaign and seeing the clicks to my site because of the key words that I picked. Seeing and clicking through the data is very satisfying and interesting to look at. I have never been more excited about data than now. I can see the amount of new users, bounce back rate, average time per visit, etc. I can change my ads based on the information I am getting from my data.

I am more comfortable in creating new ads and picking the correct keywords for an campaign because I have already done it and I am a little more confident than I was when I started. Overall, I want to create more campaigns to bring more traffic to my site and get more data to interpret it and learn from it.

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Loyalty and Trust – Entrepreneur Journey

In class we were asked today whether we would rather have loyalty or make a lot of money. And after doing this week’s homework and working on a presentation for class on loyalty, I have realized that for me loyalty is more important. I would rather have years of honest and truth rather than a person who may flake out when hardships come up.

One big insight I was able to learn this week was that in order to be a great and successful company we need to get the right people on the bus. To me this means we have to let those who are holding us back go. Whether these people are friends or family we have to do what is right for the company.

Another insight I was able to learn was able to really take in was the concept of the hedgehog. The concept is basically saying the only way to do something that you’ll be good at and the best is by three things: passion, skill, and good financial economic level. With passion and good economic status we get a hobby. With skill and good finance we get a job. With passion and skill it’s only a dream. However, with all three components a person is and will be able to become successful in something they love.

Lastly, one quote that I really stuck out was, “success lies with having character and courage to accept a worthy mission ang get the job done.”

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Web Business – Blog Post 6

This week we talked a lot about the quality score we can receive in our AdWords campaign. I was able to learn that with the quality score we are able to use it as a helpful diagnostic tool, but it should not be a key performance indicator. The quality score is something that alerts you to potential problems. It also focuses on long-term performance goal, and it focuses on high-level areas where you can affect change.

The biggest components in a quality score diagnosis are:

  1. Ad relevance
  2. Expected CTR
  3. Landing page

We are to set priorities based both on components rating and on the potential speed and impact of your changes.

With the landing page I learned that when we create an ad that has specific words to our website we are to make sure that whenever a potential customer clicks on that link they are directed to the page on our website that is on the ad. That way when a potential customer clicks on the link they are directed directly do the page they are looking for and it doesn’t turn into failed conversation.

When we are creating an ad we have to make sure the ad is able to fit the device someone is using. For example, they must allow an ad to look the same on a desktop and on a tablet or mobile device.

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Learn to Fail Often, Fail Easy and Fail Cheaply – Entrepreneur Journey

One of my greatest fears in life is to fail. I have never liked being a failure and I have always had plan B, C, D just in case plan A didn’t work. However, a lot of the times those plans wouldn’t work and I would have to learn to fail and move on. As an entrepreneur I know I will fail a lot and fail knowingly and expecting it.

I guess my fear of failing comes from a young age. I would not say it’s my parents fault that I am scared to fail, but I am scared to fail them. My parents have had to start from nothing when they come to the United States and people don’t really understand that. I saw their struggle at such a young age and I see where they are now. They have built their dream home, started a company and are going to support seven kids through college all because they did not get the opportunity to do so. They have failed so many times, but by doing so they have created their dream into reality.

With that being said, I know failing is a part of life and by doing so there are many lessons learned. Jeffrey R. Holland said, “success depends on our ability to hang in and hang on.” In the reading this week we learned that we have to be ready to take on any hill that may come our way. Whether that hill is the right hill we will determine that as we get closer the challenge. If it’s not the challenge or hill that we need we have to learn to move a little to accomplish what we need. To learn failure is a blessing if it helps us grow. We have to begin with an end in mind and go from there.

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Trust and Integrity – Entrepreneur Journey

The greatest lesson I was able to learn from my journey this week is to really cherish trust. One lesson I had growing up when I was younger was the trust my parents offered each and every one of their kids. We did not have many strict rules growing up, but the amount of trust our parents gave us was beyond anything we could ever get. We knew that if we ever broke that trust it would be really hard to regain it and it would probably not be the same trust. So, growing up I did not do anything that would break it because it was one of the most valuable assets I could ever receive. In one of our readings by President Gordan B. Hinckley it said, “sin never was happiness.” And that is true. What is our integrity worth? Would I rather want to be successful and making a ton of money in exchange for my value?

The purpose of a business is to make a profit so that a business can do something more or better. As a future owner of a store I will need to treat my employees as an asset and not an expense.  In order to create a good culture in my business I need to demonstrate it and be the example. I have to treat my employees with the most respect to ensure that they will do their part with the best intentions.

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Credit Cards – Learning Is Hard – Blog Post 4

The thought of setting up a credit card to an online website seems impossible, right? Well, it is. During my Web Business class we talked a lot about setting up credit cards and I thought I was never going to be able to learn the in and outs of it. However, I have a better understanding of what and how to set one up.

One of the biggest insights I was able to take away from this class was the shipping aspect of an online business. Personally, I would want to do free shipping with my future business because it allows people to actually purchase items without the hesitation of an extra expense of shipping. This is able to create a loyalty between my business and customer. However, if I don’t offer free shipping I can go onto lets say PayPal and set the perimeters in which I would charge for shipping whether that be by quantity, weight, or number of items.

Another big insight is state sales taxes. I am from Oregon and I am finally understanding the sales tax thing since I have been in school in Idaho. However, if I am based in Oregon, which I would like, I wouldn’t charge people in Oregon sales tax because we don’t have any. However, if I was based in Idaho I would charge people buying the product in Idaho the 6% sales tax that is supposed to be charge. I am pretty sure this is how it works or at least how I was able to understand it.