Monday, June 4, 2018
Week 5 getting behind
The last couple of weeks I've gotten behind on the coursework, but I've been able to do a portion of the required work. I have been brainstorming about my $100 Challenge assignment. After the feedback from the class on my list of business ideas, I was still unsure which option would be most well received in my area, so I created a poll which I posted on social media. I posted the poll in a local group, and based on the information received, I plan to pursue the professional portraits for $25/per 30-minute session. I have experience as a portrait photographer, and I have a professional camera, as well as a light diffusion screen and reflectors. Initial investment is minimal, basically free, since I do not have to purchase additional equipment, and advertising will be free using local social media forums. I will have my daughter help me as an assistant, and will use my revenue to pay her for her time. I will not have printing costs, as I will provide clients with a digital copy of the pictures, and allow them to order and print their own copies.
I struggled with the business plan for the larger business idea, as I still have not solidified which business option I would like to pursue. I am trying not to take the easiest route, but the ideas for other businesses will take me a lot of time to research in order to develop a business plan. I simply do not have the industry knowledge, or know exactly how to obtain it, for the Skateboard sales business, and the Family Fun Center. I would like to start a small business consulting firm, and I have experience with that, but I feel like that is also the easier option and is not as challenging. I may end up going with that option, however, as it is the business I have the most desire to pursue, and I have the most confidence I have the experience to operate.
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