I learned a lot from the readings and videos this week in class. I especially enjoyed the short, but succinct Power Point presentation about leadership. I like how it was defined simply as the "power to inspire." I also learned the equation that if we are available and (+) dependable, we will be or will become (=) capable. I felt like this principle could be applied to many areas in my life, as well as the idea that the holy scriptures are a handbook for leaders. I'd never thought of them that way, but learning from great prophets is a true way to understand leadership.  From Carly Fiorina, I learned in a video the importance of capability, collaboration, and character. Developing these traits can also help me to be a strong leader. 

This week my $100 Challenge continued to run smoothly. I had more "sales" than I could handle, so I cut back on promotion to work on my current "clients." This means that I have been reading books, writing reviews, and posting them online after sending copies to the authors who paid for a review by donation to Kiva.org. I am $15 short of my goal, and I feel confident that I will be able to reach it by the project deadline. One thing I learned this week is that of the few volunteer reviewers I have helping with the project, there is a lack of writing skill and true commitment so I am having to make arrangements to make sure the donating authors get the best possible quality reviews and in a good timeframe. This has taught me the difference between working with a volunteer versus working with a paid employee, so it is something I will have to draw experience from in the future. I don't want to be the only person in my business who cares about it. I see the importance now of having employees that have vision. 

I've also learned from the leadership survey I sometimes lean too much on delegation and free reign, and I need to set up better production strategies. This will be a struggle for my go-with-the-flow personality, but it will save me a lot of stress if I learn to strike the right balance.

This week I learned a lot watching a video about the customer experience at Jet Blue. I found it interesting that the company focused on spending money where the customer wanted and appreciate it and not just following industry trends. For Jet Blue, this meant not offering meals aboard their flights, but offering light snacks instead. The money saved on meals was directed toward buying screens for each passenger to watch television or a movie, thus giving them some sense of control. I was able to relate to this theory, because I have flown and do feel like I have no control when I'm on an airplane. Having a seat is one thing, but having some things around me, such as a screen or even the air vents gives me a feeling I have some personal space that I can call my own and control. I can apply this to my future business and product ideas by thinking about putting my investments into what a customer wants or what would give a customer some sort of personal control, rather than just following industry trends without thinking outside the box about them (or looking for that Purple Cow angle).

In the $100 Challenge this week, my website went live and I began advertising for readers, reviewers, and authors willing to pay for a review. Within 24 hours I had lined up 4 reviewers and had two customers. This kept me busy for a couple days contacting parties through emails and setting up a spread sheet to stay organized. I am continuing to promote my business (charity) and hope to be able to draw more investors to it soon. 

One problem I have already stumbled upon for this project is dealing with my online charity account bank, Paypal. Somehow, I either did not see or was misled about setting up a donation account with buttons and other easy pay options. So far each donation has been charged a .50 transaction fee from Paypal. At this point, I feel it is too late to change my requested donations (or fees) and so I have had to recalculate how many reviews I will need to make my $100. One option I have is to use $12 of my startup money to cover the losses since I have little need to buy any advertising because there is so much free social media. As of now, I am withholding the maximum  of $12 from the startup money in the event I cannot cover the fees with extra income. I'm pretty disappointed with Paypal and frustrated with myself for not finding out about this up front.

This week I studied building a brand which included how to pitch and focus on marketing. I learned a lot from the Seth Godin article, "In Praise of the Purple Cow." He really helped me to understand that whatever product I put out, it has to stand out from competitors and truly be a unique or fresh solution to a consumer's need. I learned if I'm going to do what everyone else is doing, it's quickly going to become boring after the newness wears off. I also got a lot out of Guy Kawasaki's video, "Know Thyself and Niche Thyself." In a similar message, he reiterated the importance of providing something unique that has value and little to no competition. When I can put something together like that with a fair price I increase my chances of success. A third thing I learned was about suggestive selling. This is something I have been aware of, but I never really could put my finger on the name and definition. Studying upselling and bundling was new to me, and these types of suggestive selling helped me put into perspective how to sell while benefiting the customer and myself, not just looking at my own end of the bargain. I have a strong distaste for pushy salesmen who use suggestive selling in obvious ways, so this is something I need to learn how to do but how to do tastefully and with respect. 

For the $100 Challenge this week I worked on an elevator pitch video. I understand the concept of the elevator pitch, but it is much easier for me to write such things than say them. I had a hard time making an elevator pitch video, not only technically, but because I am not very eloquent or articulate. I wrote pitches for both my $100 Challenge and my Big Idea project, although I only will turn in one. Doing this helped me to narrow down the most important aspects of my projects and highlight what the most important information is I need to share. I also have finished up my website, badges, and promotional art I will be using online to advertise for volunteers and customers for my $100 challenge. I plan to start marketing these items at the beginning of next week and networking with all my contacts to get the project moving.

This week there were comments from both videos that stood out to me. First, I thought it was interesting Guy Kawasaki said that it most probable that we will not raise all of the money we set out to get when starting a business. I think it's important to remember to take his advice about bootstrapping a step further and always be a bootstrapper. Over and over again, this entrepreneur teaches that too much money is worse than having too little in the long run if we don't make the right choices.

From Peter Diamandis, I would like to remember his wisdom that we should always ask for advice. Asking for money usually ends with a negative response, but one can always count on advice. Asking for advice and building relationships can lead to getting money needed for a startup. 

In the readings, I enjoyed the chapters I read in The E Myth Revisited. This book has taken awhile to start answering questions, but I am beginning to see the essential need for balance between the roles of the entrepreneur, the manager, and the technician. I have begun to identify my different roles in my business by these three identifiers. One thing from the reading I plan to always remember is the successful principle McDonald's based itself on in the early years. As I read, I didn't think the example would apply to me, but as I learned more about identifying processes and each step in a business, I realized that have a system no matter what we do is the key to have long term success when we find the steps that work for us. In short: consistency. 

This week on the $100 challenge project I set up my website as a blog and have a rough template ready to go. I have decided how I am going to spend my startup money, and who I am going to approach first to get the project rolling. I am ready to interview another entrepreneur and hope to apply what I learn to this project. One thing I am concerned about is preparing some digital art for online badges. My knowledge on this area is limited, and I am considering seeking outside help to produce something professional and impressive to be posted on websites.