Lesson 8: Management and Leadership

My $100 dollar project report:  I'm very excited with the project because we have a great acceptation from our clients. Due my others activities I have time enough to sell 2 products weekly as it was projected and it working great according to it. In this week we sell to new flavors Blue berry and coco.

AMOUNTS SHOWN IN U.S. DOLLARS
SALES
SALES PRICE PER UNIT	$20.00
SALES VOLUME PER PERIOD (UNITS)	40
TOTAL SALES	$800.00
VARIABLE COSTS
COMMISSION PER UNIT	$0.00
DIRECT MATERIAL PER UNIT	$9.00
SHIPPING PER UNIT	$1.00
SUPPLIES PER UNIT	$1.00
OTHER VARIABLE COSTS PER UNIT	$0.00
VARIABLE COSTS PER UNIT	$11.00
TOTAL VARIABLE COSTS	$440.00
UNIT CONTRIBUTION MARGIN	9.00
GROSS MARGIN	$360.00
NET PROFIT (LOSS)	$360.00

 So far everything projected is working well except for rising prices I hope I can reduce some costs to be able to have a slightly higher profit

This week I learned many things about the leadership and opportunity we have as church members to be in addition to entrepreneurs, pastors in our heavenly father's business in the in the James Moss speech I learned the importance of leading the sheep with Love and to know them in a personal way and to help them carry their burdens in such a way that they feel involved and attached to their leader for this it is necessary to sacrifice oneself for their sake and in the case of an entrepreneur for the sake of the company.


I also liked the speech of President Kim Clark who taught us how to be a leader with small L. Sometimes we think that to be a leader is to be only the one who commands but he teaches that we should lead by example with vision and with love to the people we have in our care.

There is a substantial difference between manager and leader. The leader should genuinely care about the people around him while the manager usually only cares about results.
 I have taken the Leadership Style Survey and I feel surprised about the results on it. I found that I have a  democratic leadership and it helps me to improve another aspect in leadership as delegate a little bit more some task to others.

Lesson 7

As an update of my $ 100 project I can say that my business is giving gradual results. We already had our first sale and we have 2 more orders for next week. We even made a label for the snow jars. Here a picture of my first valuable clients.






This week I learned a lot about how to learn to value clients in a way that builds a relationship of trust with the goal of maximizing profits with them in the long run.

One of the concepts that caught my attention this week is to give your new employees $ 2000 to quit the job, this concept implemented by Zappos company is a little risky but seeing it from a bigger perspective it will bring you better results because your employees will be committed to the values of the company in such a way that will be reflected in higher profits at the end of the day.

I really liked how we were taught to treat clients with the assignments of Harvard manage mentor.One of the things that hit me the most is the implementation of the three r's because thanks to it we can learn why loyal customers are more profitable.

In the Jet Blue Experience video I liked the way they channel customer needs into their budget, offering a better service in such a way that even benefits the company itself,I would never have imagined that the fact that they help you unload your luggage, is to make the time more productive.




For Stew Leonard ear"you eggnog is sour" was hard for his ego but thanks to his wife who tell him:"I don't blame her at all," ..."You didn't listen to her. You contradicted her and practically called her a liar. I hope you are not going to run your store like other store managers, who think all customers are trying to put something over on them. They don't trust us -- but we fix them -- WE JUST NEVER GO BACK!"

Thanks to this incident he was able to implement the two golden rules in his company

1: the customer is always right.

2 if the customer is wrong read rule number 1.

In short if we make customer service a priority in our company we will have short and long term results that will reflect better profits for the company.

Lesson 6

This week I learned about how to make a "elevator pitch" to use it in 100 dollar project, I think that it is very useful to letting people know you idea in less of 2 minutes so if you get investor's attention in these time you have a better opportunity to make business with them. 

On the other hand I learned from Phil Romano that " Serving a need is what makes a good business" He said that not all the services we offer are going to be remunerated with money, as in the case of Hunger Busters, but certainly leave a mark on all those people who were benefited by a plate of hot soup; Doing this we will recognize that in our life is more important when we are alive than when we are dead because here we have greater chance of continuing to help living people in this world because how Phil says: "people will remember you for what You did”.

Another great concepts that I learned in HMM is about marketing, I used to think about marketing as publicity but now I have learned that is a great difference in those terms so marketing is a process that includes publicity.


The management process through which goods and services move from concept to the customer. It includes the coordination of four elements called the 4 P's of marketing:

(1) identification, selection and development of a product and why people should buy my product.

(2) determination of its price, according our research and expectations and elasticity of the market  .

(3) selection of a distribution channel to reach the customer's place, and

(4) development and implementation of a promotional strategy.  where finally publicity get in the game plan.

Also I learned in this lesson how important is in a business find a "purple cow" that not only boost your project but that helps to stay in the customer's mind longer than a simple novelty.

Lesson 5

This was a very interesting week because I learned a lot about how to start a business. Certainly many people think that to start a business it takes a lot of money but in "Startups on a shoestring" reading from this week I learned that you do not have to be rich in order to start a business many people can start a business With less than $ 200 bucks or less the main requirement perhaps is not the money but the willingness to do it.

  From Desh Deshpande I learned that you need to have a 100% compatibility with your partners in business in such way that there is no doubt in any agreement between the people in charge of the business, this will help the company to be benefited and not their own personal interests.

From the $100 dollar project asked for a loan to my wife in order to start my little business. I hope to start my first sell next week.

In HMM I learned budgets importance and how keep our expenses inside of it could help us to succeed in our business plans.

I liked my the experience that I gained in the entrepreneurial interview it makes feel that anything is possible thanks to the advice that I have received from my interviewed.

I learned from the Italian factory reading the importance of planning your business and the process of researching the market to contact financial advice and value the details before starting a business.