Entrepreneurial Journal – Week 3 – $100 Challenge Update

Our $100 Challenge is in full swing! The reason I say that is because of a few of the assignments that we have had completed this week. We read about Heather Evans in a case study and her experience that she had with starting her own clothing company based out of New York. Particularly, we looked at her business plan for her business and participated in a discussion board discussing our thoughts on whether her plan would work or not. From there we read an article from Richard Branson, founder of the Virgin Group, answering questions about four common start-up mistakes that many entrepreneurs commit as they start-up their business.

These two assignments caused a type of rising action on our plot diagram leading up to the apex of our pyramid; part three of our $100 Challenge which involved the creation of our very own business plan for our assignment idea. Each assignment built upon one another and I eventually completed my two business plans for this assignment. While doing it, I couldn’t help but get a sense of just how soon we will be implementing our ideas and taking part in this challenge. It’s starting to get very real! It’s exciting to say the least and I cannot wait to get it on. While I was filling in each section of this plan, the Lord truly did pour out his guidance upon me and I felt very blessed to have received so much additional revelation about my idea that I had never originally thought of. I’m getting excited to see how my idea will play out. I know it will do well. I know it can be a success. It will all come down on implementing the idea and carrying out accordingly.

It’s exciting to say the least! That’s really all that I’ve thought of this week and feel the need to report on. I gotta say though, business plans are crucial in the business landscape. They, especially, help to organize your thoughts and help you create specific plans for specific points. I also never knew just how long these plans can get and the amount of detail they cover! It’s incredible if done right. But I enjoyed it. This was a great week! A lot of fun assignments! I look forward to seeing what next week has in store for us!

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