I Can Do This

Overcome Fear Of Failure

My fear of failure is coming forward as I consider how to embark on this project. I want to do well, and I don't want to fall flat on my face. However, this attitude can't be what sets the tone for my behavior. I need to have a positive attitude, because my attitude will make or break the experience.

Take a Positive Approach

I enjoyed Deshe Deshmande's biography. He started of with extreme disadvantages, having come as a foreigner to this country with only eight dollars in his pocket. I was impressed with his high level of positive attitude in approaching his challenges. He came to a new culture and made the most of it. He looked around, saw a need, and made it happen. He became very successful as a result.

Recognize Opportunities

He made a good point that when we grow up with relative prosperity around us, we don't always recognize opportunities. It's like we have blinders on. I think that is true about me. When I went back and re-read how to approach my journal, I found that we are encouraged to  look at everything with "Fresh Eyes". We will start noticing those opportunities that we haven't seen before.

Keep an Open Mind

Also, going back to my book report on "Think and Grow Rich" and the "Law of Attraction". It is my opinion that it is not so much about things being attracted to us because of our positive attitude. I think it is us keeping our minds open so that we notice things that are already there. I do think a positive attitude is helpful, but that only goes so far.

What is My Business Idea?! And I have my $100 Business Plan!!!

I went through some exercises to come up with the business plan for the $100 challenge. I like how it helped me answer all the little questions that would make my idea become a reality.

$100 Dollar Business Plan

My business, Amy's Edibles, will provide unique, tasty individual chocolate covered brownies for the Easter and Spring season. 2 shape options will be provided to increase sales. Customers who don't celebrate Easter will still have something they can enjoy. The Easter shape will be an Easter egg, while the Spring shape will be a flower.

My goal is to sell between 56 and 72 of these treats, with the average price being $3 per each. I will sell individuals for $3.95. Half dozens will go for $20. My minimum goal is to earn at least $150, but I would like to earn at least $200.

I will approach family and friends to get pre-orders. I will educate them about what the loan is for, and on the order form they will have the option to voluntarily increase their payment for their order.  Approximately one week before Easter, I will make these treats in my kitchen from my  proprietary recipe. During the Thursday-Saturday prior to Easter, I will deliver the treats and take cash or checks as payment.

I will put everything away, add up the money, and make the payment for the Kiva loan recipient. I will write thank you notes to all who participated, with information about the loan recipient. I will then officially close down "Amy's Edibles".

What Is My Business Idea Worksheet

I liked the What Is My Business Idea Worksheet. It gave me the opportunity to think more about the Interior Design business I would like to have in the future. I am not currently going to have my own firm because I am going through a learning program at the Interior Design firm where I work full time.
 My lead designer is very experienced and she started a program called Designer Leap so that 2 Jr. Designers could come in and get professional training from her. It is a unique and special opportunity. She does true high end design,which is what I want to do. One of her projects she is currently designing is a private residence that is 18,000 s.f. As the project moves forward, not only is she designing all the interior spaces, she will do furniture, window treatments, rugs and accessories. along with anything else it might need.
There is an art and a science to managing a large design project. I want to learn systems that I can use so that each project stays organized and meets the needs and wants of each client.

I Made this for Valentine's Day. Cute, huh? And it's delicious!

What Are My Business Ideas?

2 Parts: $100 Challenge, Interior Design Business 

1.       What is my business Idea?

a.       Make a special Easter/Spring chocolate covered shaped brownie.

b.      Own a thriving Interior Design Firm serving the Northeast, East and Southeast Valley of the Phoenix Metro area.

2.       How Does it meet a need?

a.       A special yummy treat that is only a few dollars.

b.      The city of Phoenix has a huge population of homes with values of over $500,000.

3.       What business model suits me best?

a.       Keep it simple-- order form for family and friends

b.      LLC

4.       What is different about my business?

a.       A specialty shaped brownie that is covered in chocolate and decorated.

b.      Solid client focused design for upper middle class and high end professionals and entrepreneurs.

5.       How big is the market?

a.       50-100 friends and acquaintances.

b.      More than 100,000 millionaires in the Phoenix metro area, countless others who earn over $100,000 per year.

6.       What's your role going to be?

a.       Baker, sales, delivery.

b.      Interior Designer and client cultivator. Oversee staff with talents that complement mine.

7.       Who is on your team?

a.       Me.

b.      Me at first, with subcontractors hired as needed for autoCAD, marketing, and administrative tasks.

8.       How will customers buy from me and how much will they pay?

a.       Individual treats will cost $3.95. Half a dozen will sell for $20. I will also take donations higher than list price.

b.      I will work against up-front retainer to be agreed upon according to job and delivered, with a signed letter of agreement to my firm. My hourly billable rate will be $125.

9.       How much money do I need to start? How much will I make?

a.       I will spend around $30 to start my $100 business. Should be able to gross $150-200.

b.      I need $5,000 for marketing, administrative and office supplies, etc.. Because I will work from retainer, business should propel itself forward.

1     Where will start up money come from?

a.       Family and friends.

b.      Personal savings.

1     How will success be determined?

a.       I will earn at least $150 and be able to fund my KIVA loan recipient.

b.      If I am working at least 21 Billable hours per week 48 weeks of the year.

1     What will be milestones of my business?

a.       When I sell 10, 25, and then 50 chocolate covered brownies.

b.      When I have 1 client of my own, 2 clients of my own, 3 clients of my own. When I am able to keep 3-5 client projects going at a time, picking up a new one after a project is completed.

The $100 Challenge! What Next???

I am excited but nervous to start tackling my $100 challenge. I look forward to going through the process and learn things I didn't know before about how to start and run a successful business. With this experience, I will learn how to close down the business, as well.



I think my success will depend on a simple, actionable idea. I like the idea of being able to "Pivot" if something isn't going towards success. I was happy to learn that a lot of this is about being willing to go on a journey that is not completely foreseeable. Some challenges may come up unexpectedly  and I will need to figure out what to do next. I thought that you figured out the plan ahead of time and followed it, I didn't realize there is so much elasticity in responding to challenges.

This flies in the face of what I guess was an assumption about building a business. In one of the readings, it talked about overdeveloping the business before you need to. I have been guilty of doing that. When I started my first Interior Design business, I went to Legalzoom.com and spent $300 to form an LLC. My husband was very upset because he thought I was getting ahead of myself. Now, in looking back, it was really unnecessary for me to form the LLC. 

I really like Entrepreneur magazine, and I have subscribed to it for several years. I think this class is helping me take the knowledge from it and other sources and distilling it down in a way that will be more actionable for me. Anyhow, when I was reading through articles I came across  a speech by Barbara Corcoran. I have long been a fan of Shark Tank, so I was interested in what she had to say.

The video stream got hung up after a few minutes, but I did get to hear a few points that were interesting. She said our background affects our future-- our life experiences show up in different ways that either help us or not. She talked about her father and the wacky funny things he did with the kids in the family when they were growing up. Even though her mother was organized and had a positive attitude, it is her father's influence that sticks with her in what she does. I think his wacky attitude has helped her be resilient in her challenges.

My father is very good in business. However he was preoccupied with it, and had little time for family. I remember sometimes asking him questions when he would start talking about his business experiences. For some reason he didn't want to talk about it.  I resented his work because it took him almost completely away from the family. He spent his weekdays working out of town, and was usually stressed out, and/or still working on the weekends. I had a hard time expressing what was going on for a long time because it was so ingrained into our family culture. But I knew I didn't like the lack of positive attention from him most of the time.

 I have always been interested in business but didn't focus on it when I was raising my family.  I would hear church leaders talk about being a stay at home mom and I guess I got tunnel vision as well, thinking I shouldn't "Work outside the home." Now I don't think it would have been a bad thing to do, but then I didn't see how to raise my family and run a business.

 My father was so focused on his business at the expense of family time and I think maybe I was afraid because of it. I was sometimes bored as a stay at home mom and looking back I wish I had a better understanding of how to balance everything. Plus my kids are smart and it would have been good to get them involved in a small business of some type.

Anyhow, now I am a business woman selling my Interior Design Services. It is darn hard to get the clientele rolling. My colleague and I -- we work together as a team-- have been trying out a lot of different marketing ideas, but so far we are still struggling to bring in clientele. We seem like we go two steps forward and one step back and sometimes it gets very discouraging. But I have this determination in me that I want to keep trying.

The point is I want to provide my children with an example of a parent who works hard and becomes successful. I also want them to understand the importance of a work life balance. Much of what I read points out that most of the really successful people prioritize relationships and other things that bring balance to their lives. I want my children to see achievement that is happy and fulfilling and I want them to realize that they don't have to be a workaholic like my dad, and that they don't have to crap out like their dad did and trade in everything valuable for whatever it is he spends his time doing.