Entrepreneurial Journal – Week 5 – Elevator Pitch

This was a great week! There weren’t as many assignments this week as there were in past weeks. We did have one, though, that was very fun and that I enjoyed very thoroughly. That assignment was our Elevator Pitch. The Elevator Pitch was a video that we had to create in similitude of pitching an idea to an individual with as little time possible. Hence they call it the Elevator Pitch because most of these experiences in the business worlds somehow take place in an elevator. The subject for our Elevator Pitch was either our $100 Challenge or our Big Idea business and with my ideas for both being similar, this gave me some great practice on how to articulate so much information in under a minute. It was a little tough to say the least, but very fun. It got my gears churning and gave me the opportunity to think outside the box ad problem solve just a little bit. This practice also helped me in getting in front of a camera. I’m not necessarily camera shy, but I rarely take pictures or videos of myself whatsoever. I was out of my element and had to definitely get used to it; especially considering the fact that our video will be both public and posted on a discussion board for some of our class to see. After many tries and failed attempts, I feel like my first attempt went well. I posted it on our first discussion board, and, surprisingly, many of my fellow classmates enjoyed it! The second time around came much easier. Overall, this was a fun assignment and hope that there are more assignments such as this in the near future.

This week was also the official beginning week of our $100 Challenge and with the positive feedback that I received from my fellow classmates, I have a great feeling about the potential that my business idea has. Sadly, I was not able to begin selling as I wanted to. Being caught up with other obligations took me away from much needed time working on getting this business idea off the ground. I’m still in the planning stages as of now. I’m close to starting. All that is really holding me back is some packaging that I had to order directly from Hawaii specific for the product that I am selling. It wasn’t expensive; just time consuming. I hope it comes in soon. I received some concern that I may go over the allotted starting amount that we are given for this assignment., but having done some calculations, I’m actually doing quite well on my limited budget. About $10 was used for my packaging. The other $10 will be used for the ingredients that I will purchase. Thankfully, a few other items that I’ve needed for this project was already purchased in the beginning of the semester by me. With all that, I feel like I will be good. To begin, I will have to limit myself to only selling what I can make with the remaining ten dollars and hopefully double my profit so that I can by more and continue selling more. I’ll keep you all updated with how I’m doing as far as this challenge goes.

Overall, I feel like this was a great week! I look forward to this upcoming week and all that we will be participating in for this class! I also look forward to this week and how my business idea will span out. I hope I receive that shipment really soon!