This week I had a lot of fun learning about acquiring businesses and thinking about having a family business someday. Ever since I decided to become an entrepreneur I have wanted to have a business where I could create jobs for my kids. I think it would be so awesome to be able to give my kids and job and teach them to work hard and think hard.
I used to think of buying a business as being out of reach and something that I would have to wait until later in life to do. Now that I have learned more about the process and various ways to find financing I think that it might actually be one of the better options I may have. I would love to find a business or franchise to buy that wouldn't cost a great deal of money. It would be really nice not to have to build a business and its customer base from the ground up. If I bought a business then the equipment, employees, client list, and processes would already be in place. I think I would enjoy improving an existing operation more than creating an entirely new one. Especially as a young and inexperienced business owner.
Still no progress on the $100 challenge. I have given up on it since it is now so close to the end of the semester. It just is not a good idea for the Rexburg area. I would still really like to try it in a more urban environment though. I think it would be really fun to run errands for people and get to know the city really well.

This week there were not any readings or questions assigned to the readings but I really enjoyed what we learned about owning a franchise. I have always been intrigued by owning a franchise and really liked learning more about it. Now that I know more about the process behind franchise owner and how it works I actually think that it would be a lot of fun to buy one and that it would be a great option for me and my family. Building your own business takes a long time and it can be a while before you are profitable. I would still like to build my own business at some point but it would be a very good idea to start by owning a franchise. This would be profitable quickly and it would help me to raise capital that I can save up for when i want to launch my very own business.
This week was really busy so I again did not have much of an opportunity to promote my errand running business. I did get a few cards handed out and there are already lots of my cards spread out around town. I have realized that this business idea just is not a good idea here in Rexburg where people live close to everything and really don't seem to have any need for an errand boy. I still think that the idea has potential but a small isolated community is definately not a fertile growing place for this business idea.

This week has been an exciting one for me. Although i have still not made much progress in my errand running business I had sort of a break through with an idea that I have been kicking around for about six months now. Last summer I had a yard care business in Washington state where it rains a lot. I found that there were a lot of days that I wanted a canopy on my truck but other days that I did not want one. As a result I regularly went through the hassle of taking the canopy on and off my truck. I always wished that I could have some sort of fold down or retractable canopy that I could slide on and off myself.
Well, I have a room mate who happens to be an engineering major so I shared the idea with him. Last night I got home late and we got talking. Neither one of us were tired so we got on his computer and started making design. I am really excited because we came up with an idea that might actually work! He has friends who are machinists and thinks that we might actually be able to get a prototype designed and built! I am really excited about this one and I hope we can get it to work! I think contractors all over the country would love to have a product like this.
This week I learned a lot about money and the uses that it has. What stuck out to me the most and which has always stuck out to me is that money is not evil, people might do evil things with money but in and of itself money is actually a good thing. I think that a wealthy person with a giving attitude can do much more good in the world than a poor person can. Not that the poor person is worth anything less than the rich one but if we have the resources there is so much good that can be done! I hope that I can one day be a wealthy man and have the ability to do great things with that wealth.

Who to Hire

This week was a really interesting week as far as the work for this class went. I have always been really interested in the hiring process and that is honestly something that really gets me excited. I would love to be a part of the hiring process and selecting people who would be a good fit for my company or maybe one that I will work for. The best piece of advice that I drew out of the readings was from Guy Kawasaki when he said that if you were to run into a candidate at a public place and you don't get the urge to run up to them then you should not hire them. It really is true that small companies are like families and you should be able to interact positively with coworkers and employees in non business settings. I will definately remember this principal in my future business endeavors.
As for my $100 challenge project I am still having trouble with it. I came to a realization of why I am not being successful with my idea though; I have zero desire to run errands for people. Since spreading the word about my business I have found that when an unidentified number calls my phone I immediately hope it is not a customer. It is a good thing that I only need to make $100 at this business because I hate doing it. I love business but I hate this one. I guess I learned my lesson that just because something looks like a good idea that does not mean it is a good idea for me. You need to love what you do, or at the very least like it.

I still haven't had anyone call with an errand that they need run for them. I think that I need to somehow market more to the students rather than community members because the community is just too small and the  students make up the largest market segment in Rexburg. I still haven't thought of a real great way to reach the students though so I will keep working on that and try to put something into practice by next week.

I enjoyed the readings this week and took a lot from them. I liked the recurring theme of selflessness and a focus on others. I think that goes a really long way and resonates with the people that you lead. I have had a lot of leaders and have had the opportunity to be a leader many times throughout my life. I have found myself to be the most effective as a leader when I am more focused on the task at hand an those underneath me than I am on my own interests and needs. People just don't respond well to self centeredness and there is no place for it in the business world.