Week 4

Acton Hero: Paul Robshaw

It is important to have a drive for work. You won't get very far in life without that drive. Even though being a hard worker and the money and accomplishments that come with it are important they are not as important as our core values. Keep your values, integrity and honesty. Dream! Dreams are a "reality without boundaries". You should start working at a young age to help you gain that love for hard work. Your parents should give you chores around the house, help you try to find a job when you are old enough, and teach you how to use the money you earn wisely (put some of it away for savings). I myself grew up with the knowledge of the value of hard work, my dad owns his own business and is up early every morning working in his office or working in our yard. Growing up I had chores to do and when I got old enough to start to work I worked all of the time and when I am not working I want to be doing something else productive. I was taught to be productive and not just to sit around and do nothing.

Things I learned:

GEM- Gathering, Enhancing & Marketing

- Gather- Collect the materials, resources and equipment
- Enhance- Add value to the resources we gathered (in a lemonade stand business you take the gathered resources and make the lemonade)
- Market- We market the materials we gathered and enhanced

"A startup is not a dollhouse version of a larger enterprise." Eric Ries
What makes you an entrepreneur is not the product you sell but the business you are trying to conduct.

How to avoid Startup mistakes:
1. Stay on target
2. Be realistic about costs
3. Hire people you need not people you like
4. Know when to say goodbye

$100 Challenge Update: This week I wrote out my business plan for my $100 Challenge project. I chose to use babysitting as my business. I also wrote my business plan for my Big Idea project.