Entreprenuerial pricing

I learned about some things to consider when choosing a price for my product. I have to take into consideration the value of my product or service by basically putting myself in the shoes of the customer. I have to ask myself if I would be willing to pay the same. I also have to be very aware of the pricing of my market, but I don't have to let it dictate anything. My business will more than likely be small so it may be easier to price my things in a higher price range and offer my services at lesser times.

Post

After doing some research, I even learned that Post (the cereal brand) may very well have to pay royalties to Time Warner Bros. for the use of the pictures of the Flinstone characters on the box of Fruity Pebbles. I'M not sure what Logo or anything I could of someone else's to help my product along. Hopefully they would see something of mine and decide to use it, having to pay royalties to me! Lol

Quote

I don't have much to talk about this time.
I only can post a quote that constantly rings in the back of my mind since the moment I read it.

It says: "There's no shortage of remarkable ideas, what's missing is the will to execute them". - Seth Godin

I believe this is the case with every business venture. Some things that we plan or downright genius thoughts, but sometimes we can cause fear to grip the pursuit of our execution.

I hope to always execute any idea! There's no such thing as a bad one.

Telecast

This morning I watched a telecast on TBN. The man that was speaking was very business savvy, and was stating how hard it would be to start a business at this time. It just about discouraged me somewhat. He was talking about how hard it would be to start to make revenue. He spit out some numbers that I can't exactly remember at this time.

Customer Service

I've really learned how important customer service is, just from the job that I work now in the hospital. I'm learning a lot there that I can use for future reference in pursuit of business owning. Lately, with me just being cordial and friendly to my patients, they have been bragging to others on my "services" or "product", if you will. They are recommending my care, simply because of my excellent customer service. I have really noticed that. I think that this learning here and now is very beneficial and will be beneficial later in the years. It's important that I understand that no matter how good the product may be, if I don't have great customer service, people probably won't use or recommend my product.

Financial advisory

This blog is very short and sweet. Today, I was very excited to find out that I would be able to attend a financing class starting this upcoming Sunday. I think that this will come in handy when trying to balance finances when running a business and it's also FREE! Ha! One on one advising will definitely be beneficial. I get to ask questions that I would rarely get to ask! I'll be posting what I learned in the near future!

Inspirational quote

I have to be honest. It is definitely my deepest desire to own and have a small business, but also one of my deepest fears is failing, or messing up. I developed that fear after many mistakes in life. Sometimes the desire of actually owning a business scares me. What if i don't make enough money initially? What if noone is interested in my product. But then I had to stop and realize that if I'm not interested in my own product no one else will be. And also had to realize that it's okay to make mistakes. Making mistakes is the basis for all kinds of learning and success. I ran across a quote that Mark Zuckerburg said in an interview concerning mistakes:

 "We used to write this down by saying, 'move fast and break things.' And the idea was, unless you are breaking some stuff you are not moving fast enough.

"I think there's probably something in that for other entrepreneurs to learn which is that making mistakes is okay. At the end of the day, the goal of building something is to build something, not to not make mistakes."

His business, which is Facebook, i'm sure took a lot of trial and error runs. But the business of Facebook is extremely successful. I'll definitely be keeping that quote in mind. Especially the latter portion of the statement.