Two tasks here where you detail both your long and short term goals quantifiably, and then identify any weaknesses that may stand in the way of your success.
With the goals, you need to identify what you would like to see happen in the short term (the next two weeks) as far as number of sales and income is concerned. This goal should be quantifiable (measurable). Please be realistic.
The long term goal is one that extends beyond the course/assignment. What do you foresee in the future as far as this business is concerned? Is it one-and-done? Will you expand it over the summer? Will you utilize it in your small business-owning life you foresee? Will this just become/continue to be a hobby?
Next you need to identify what weaknesses are present in your business. This could listed, detailed in a paragraph, or graphically shown. What is standing in the way of your success? Procrastination problems? Effort? Lack of funding? Impossible to market to the correct group? Whatever it may, everyone has something standing in their way. Detail it.
To complete:
1. In the comment section of this blog post, detail both the goals and the weaknesses, separated by a bullet point of some sort.
ReplyDeleteShort term goal: in the next couple weeks I hope to get my business truly started. I have already talked to potential customers. Also this weekend I made some soaps and will be ready to sell them starting tomorrow. In the nest two weeks I would like to at least sell all the soaps that I did make (10). It might be difficult because the people who have asked for soaps might forget the money for them several days in a row.
Long term goal: I don't know if it will be able to continue this business because of time constraints but I did leave and come back to this before so it is hopefully a possibility because I do enjoy making the soaps.
Weaknesses present in my business: my largest problem is time because with my schedule I haven't had time to do as much as I would like. Another problem my business faces is funding. I can not make a large variety of soap at a time because that would require a large amount of raw soap. Therefore I am relying on the fact that my potential customers will like and want the two scents I chose.
In the next two weeks before school ends I hope to receive payment from all my costumers thus far, in total this should give me 15$ bringing me up to within 5$ of my 20$ goal. This means I should only need one or two additional costumers to be successful. The only dilemma to this is that there's no way to guarantee that I will be paid in time and there is no way for me to be paid after the school year ends.
ReplyDeleteOver the summer I would be willing to continue this work if I can find any willing consumers for my service, but even that dilemma aside there is again the issue of payment. One of the benefits of my business is that the entire process can be completed electronically, however there's no way for me to earn income from it unless I can physically meet them.
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ReplyDeleteFrom Meg and Michala:
ReplyDeleteOur short term goal for the business is to make back the $20 by selling at least 2 scarves on Etsy. A problem might be that customers might not take notice of our up product because of the other abundant merchandise on Etsy.
Our long term goal is to sell 5 scarves by continuing our business over the summer. Our weaknesses include procrastination and lack of proficient advertisement.
- I the next two weeks I expect to sell about three to four scrapbooks. With each of them about $20, I expect to make about $80 over the next two weeks.
ReplyDelete- The long term goal for this project is that it will continue to be a fun hobby of mine and if it grows into something more great, if not thats okay too.
- the weakness in my business would be that it takes a while to make a scrapbook, so turn around time is hard. Its also hard to find people who are intersted in buying scrapbooks. Another weakness is that I have no time so its hard to stay up with it all.
Short term goal: In the next few days and weeks I hope to establish my business and make my presence know on the internet. I will use social media as well as word of mouth to make people know that I am buying and selling used games, dvds, cds and movies. I also want to post a few ads on craigslist where I think I will reach the most amount of people. The first order of business is just marketing and telling people about this business.
ReplyDeleteLong term goals: Over the long term I want my original investment to balloon into hundreds of dollars at my disposal to purchase more high value goods and sell them and make bigger and bigger profits. I also hope over the long term to establish a loyal, solid, customer based. People who are repeat customers and keep coming back to me asking if I have anything new.
Weaknesses present in my business: In terms of this project for a grade, the short time I have to take this business off the ground will definitely be challenging. Overall however my biggest weakness will be acquiring customers that make sense financially for me and them. Because I don't have a store, I will have to meet people through craigslist and people won't drive many miles for a $10 game. Also it could be dangerous to meet strangers.
Short term goal: In the next week and a half I plan on selling 4-5 bracelets for $5 each, with a total of $20-$25. This week I am continuing to make the bracelets and wear them around to advertise to people in the class.
ReplyDeleteLong term goal: In the future I am going to continue making bracelets for fun as a hobby rather than stress over making money over them in the long run. I will be sure to continue making these because I enjoy doing it as well as giving them away as gifts.
Weaknesses: My greatest weakness for my business is lack of advertisement. I feel that if I were to have had a proficient way of advertising my bracelets I would be more successful in selling them. Getting the word out has been the hardest for me. Also, if I would have been more proactive and done the project right away rather than put it off I feel that it would have been more successful.
Short term goals: I would honestly be happy if I just got two or three customers.
ReplyDeleteLong term goals: This business will most likely not continue after I graduate because I already has a job.
Business weaknesses: The greatest weakness of my business is probably that everyone in my neighborhood has already hired a regular lawn care service that most likely does a much better job than I do or that my neighbors are perfectly happy doing it themselves.
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DeleteShort Term goals
ReplyDeleteFor my business I would like to finish my bookmarks by the end of the week and be able to give them out on Friday.
Long term goals
I don't plan on continuing this business but I may do this for the fun of it for friends and family. If people are willing to buy my book marks then I will sell them.
Business Weaknesses
Some weaknesses I have encountered are my time management, having everything else to do and this business at the same time is tough.
Short term goals: make back the money I used to buy the supplies I needed to make the body scrubs (I'm currently about $5.00 short from the original $25.00 I used to purchase items).
ReplyDeleteLong term goals: I don't plan on continuing this business after graduation because it's a time and effort expenditure for something I don't really care anything about.
Weaknesses: my biggest weakness for this business is probably my lack of advertisement for my business as well as my absolute lack of enthusiasm for business or the product I'm selling.
Nick and Andrew: short term goal: get and maintain at least 5 customers. Long term goal: keep all our customers and make at least $500
ReplyDeleteShort term goal is to sell our 20 bracelets to the senior class of 2014 at peak to peak.
ReplyDeleteThe long term goal is to achieve a broader crowd. Much like targeting other schools or possibly different graduating classes.
Our weakness is the fact that we are getting these bracelets so late, it might be hard to sell these. Another one is that they take so long to make because they get shipped to China or something like that.
Short term goal- Make 20$ or more from babysitting ventures.
ReplyDeleteLong term goal-Probably won't be a business anymore when I go to college.
Weakness- Procrastination a little bit. I put up the posters kind of late and they got ruined by the weather. My schedule has also caused some conflict.
Short term goal; Reach 100 sells/arrangements.
ReplyDeleteLong term goal; Expand!
Weakness; Lafayette Florist currently has the upper hand and can expand and keep customers easier because people know about them already, they're already well known.
Short term goal: Acquire 50 units from the urban area of Lafayette, Colorado.
ReplyDeleteLong Term Goal: Hire one employee so we can divide and conquer.
Weakness: No car, which means less possible units. Also, approaching people about buying their used printer cartridges is a tad iffy.
The short term goal of this business was to make a little money for the senior class. There was no long term goal except passing on the business to someone next year. the only problem with this business was that you need to be TRYING to sell burritos and not just waiting for people coming to buy.
ReplyDeleteMy long term goal for my business is to complete this assignment for the points and make at least a marginal profit in order to turn that in to mr Letter. I will probably not continue my business into and during the summer.
ReplyDeleteMy short term goal to is to go on at least one or two more dog visits for at least ten dollars in payment so I can accomplish my long term goal. This might involve a fair amount of searching because I have had a fairly difficult time finding people who need dog sitting in the vicinity of where I live. I have been trying to find more costumers
The weaknesses of my business are a lack of consistent access to a car, lack of motivation, lack of time during this past week. As mentioned above, I have had a fairly hard time finding costumers and potential costumers close to where I live, as a result I will probably have to try to search in other areas. Furthermore Many of the people who I have dog sat do not need my services continually or even frequently, with one no longer requiring it at all.
- the short term goal of our buissness is to get some extra spending money for college and the coming years of our lives.
ReplyDelete- long term goal is to gain some knowledge of how a business works and of the numbers involved
- the weaknesses of our business is that we only clean gutters and it's kind of hard to find people that want two high schoolers to work on their house, also it's really only a seasonal job so not through the winter. Mostly in fall and spring.
The long term goal of our buisness is to complete our project and make some extra money for college and the summer. We are hoping to keep this company over the summer and learn knowledge of how to run a buisness.
ReplyDeleteThe short term goal is to make quick money and help people out in need. If we are able to help someone a day that is enough
Our weakness is that we are new in the buisness and that weare younger than,ost companies but older than little kids trying to mow lawns. Some people want to give lawn mowing jobs to younger kids trying to make money
My long term goal is to create a customer base of people who can trust me to do the job. I hope to get many regular customers who will come to me whenever they need their car washed. This is important because that is how it can spread quickly.
ReplyDeleteMy short term goal is to continue washing cars with quality and care. It is good money and I hope to continue making that money.
My weakness in this business is that not many people know of the problems that come from washing cars at car washes or improperly washing cars. I need to build a customer base of lots of different people so that my business can spread.
the short term goals for my business are generally straight forward. the idea is that the business will start up and I will have a handful of sales. the number of customers I'm looking for is about three or four. I don't really have a long term goal for this business because I don't plan on making this a long business. some weaknesses that I had are mostly motivational issues, but funding and materials I had no problem with.
ReplyDelete