The Dream of Every Entrpreneur

Those in the Entrepreneur world dream of the day when we make the first sale on our product/service.  We dream of the millions we make from those sales.  We are excited and wish to make that dream a reality.  We put our heart, soul, and passion into developing the product/service.

This week I was able to read from E-Myth.  I love how Gerber was able to tell of the stages of the business.  We go through infancy.  At this stage we are extremely motivated and small.  We get excited about every sale and every customer.  Then we move onto adolescence stage where need to hire new people, expand the line, create more work.  The last stage is maturity, this is where the old companies are at.  They have gone through the pains of growth and are enjoying the hard work and culture they have created.  However, to make it to the last stage is not as easy as we make it out to be.  In the adolescence stage people are defined here.  This is where we have to step up the game of being a good manager to hire the people, to be a good entrepreneur to expand the line, and the technician to handle the work.  It doesn't mean we have to do it all, but we have to lead it all.

I have enjoyed this week in the progress of the $100 challenge.  In this challenge we are faced to create a business to give to charity.  This is a cause worth fighting for.  It was good to put pen to paper on what it should look like.  Also I was able to put pen to paper on my dream business.  I am really stoked about the Holiday Farm I want to create.  The biggest hang up is the capital to make it happen and also the land.  I would love so much to start the Holiday Farm.  I feel that would be my passion.  Like my opening paragraph stated, it is my dream.  I would love to make my dream a reality.

The World and Entrepreneurs

This week we were challenge to what company we should start for our charity.  I chose to sell #2 quality nursery stock.  I would go about looking at the poor quality nursery stock we are going to throw away because our customers would not be willing to take it due to quality.  To save it from the dump I would advertise to the local community if they are interested in a plant that would cost at Home Depot $6.00, mine for $2.00 and the only problem is that the plant is leaning in the pot.  With a little bit of education to the buyer of these plants that there is nothing wrong with these plants and that all they would have to do is plant it straight in the ground.  I have located a spot for the sale of these plants.  There is no cost for the plants except for the price of the container and that is only if I sell the plants.

I also learned more about what a true entrepreneur is all about.  It was nice to read about how the world views the entrepreneur.  America is still the land of opportunity according the reading this week.  There is a lot of opportunity growth in the US.  I also did not know that the US was the first country to adapt to the Entrepreneur Management style back in the late 70's.  I am curious to know what the world be like in 20 years in regards to business.  Would the US still lead the pack in regards to business.  I know that people say China will dominate over the US, but if you have a country politics operate a good portions of the companies in their country they can dictate a lot of the outcome of the businesses.

I also never realize how important Israel is to the tech and financial world.  They seem to know what is going on.  They are very business friendly.  They said a reason for success is the men are required to be in the army, and from there many business came from because the men would share their ideas of business in the barracks and start partnership.

A New Journey

I read this last week 4 Hour Work Week by Tim Ferris.  I have read it before, but I felt inspired to read it again from the many choices I had to select from my class.  What was read this week was already known, but I felt this time the book really jumped out of me.

My business that I work with my brother is going through a transitional period.  My brother and I had made a decision that we are tired to work for the company and change it to have the company work for us.  Our first job was to get our top managers to buy into our new vision for the company.  Once we have the right people on the bus now we go to work and figure out what is the best for the company and what legacy we want to leave.  My brother is on the business side and I am on the production/sales side.  The book gave me great insight on Pareto's Law.  I took it to heart and figured that we need to figure out what 20% of the product is producing 80% of the revenue.  Now the next step is what kind of profit are we making on those product.  After figuring our profitability I will be going through and seeing which 20% customers do 80% of the business.

The book also helped me to realize how to get the business to work for me.  I have dreamed of working remotely and traveling the world.  I have told my brother that we have 4.5 years to figure this out.  Any company that needs the owners to run the company on a daily basis has failed in creating a legacy that will live on past us.  I will be recommending the book to him after this week.
I am excited to take on what I have learned and past the knowledge to those around me.  Our company has been a very efficient nursery, but it has not been the best of being effective.  I am working on making sure what dollar is spent gives us the most productivity.  We have a new motto at the business "Don't trip over dollars to save a penny".

With constant education and clear vision of the business this transition will escort the company into a Golden Age.