What appeals to me about entrepreneurship?
For sure this is in my blood, I see my FN culture as entrepreneurs. My father started his own oyster farm, sold clams, started a small family farm. My Grander father would travel all over NB is make and sell the best axe handles. (He had a good customer base - because of his perfect craftsmanship - and they wouldn't buy from anyone else except him).
I believe that entrepreneurship is in my family (my blood). As I have shared in previous blogs, I can recall always seeing opportunities, and seeing if I was skilled enough to fill that need. I enjoy knowing whats happening, all the new things. But mostly, my two greatest strengths are teaching and technology. (They are also my two passions) I also realized that my passion for teaching / mentoring goes all over the place and not only in technology. I also volunteer working with the church, and truly enjoying seeing those little kids light bulbs turn on, because they understand a new concept. I enjoy working with kids a lot. But mostly I really enjoy being my own boss.
Thursday, December 11, 2008
Learning Journal (Blog - Dec 4
Talk to someone (perhaps your spouse, sibling, friend, teenager, etc) and tell them about business plans. Write about your experience. The goal of this exercise is to inform about business plans. Perhaps you know of someone who has a business or wants to start a business that wants to learn a little more about business plans, you can take this opportunity to assist them and perhaps answer some questions.
I decided to interview my daughter who is in a business program under NBCC, (She has great entrepreneurial traits, just like mom) I watched her as a young girl, who has great interpersonal skills. I remember watching her grow up and be able to sell items at markets, Yard sales, etc. Savannah has a selling spirit. She is very great with people, and she has a dream to someday open up a hotel or something under tourism.
We talked a lot about her dreams, and her strengths, and her weaknesses. (She hates accounting) At the end of the interview, we concluded that we would love to open up a business together. Because of the variety of skills we would bring into the business. I could be back end - she would be front end. I am a more serious person and she is mostly interpersonal. I am great with numbers and she is great with people. I also discussed where I failed as an owner - and what types of business are nto good to get into. (More like why kind of Business scams to watch out for!)
We talked about opening up a combination hotel / restaurant. I shared with her about a hotel I stayed in once. (During one of my many travels in Toronto.) It was a suite style, with multi floors, swimming pool, and a small gym where people could work out.
We both love to work out & talked about having a real healthy restaurant (Maybe a Swiss chalet style - our favorite) and The Gym to be open to the Public 24 hours (Gym, Sauna, Hot tub, etc) I use to go to 24 hour gyms in Toronto and there is a big lack of inconsideration for people who works shifts (as do entrepreneurs)
We both feel that a form of physical exercise is an important part of an entrepreneurs life; Some days to just blow off your stressful day, you go skating, swimming, running, etc) But to be balanced you need to be physically active as well.
I decided to interview my daughter who is in a business program under NBCC, (She has great entrepreneurial traits, just like mom) I watched her as a young girl, who has great interpersonal skills. I remember watching her grow up and be able to sell items at markets, Yard sales, etc. Savannah has a selling spirit. She is very great with people, and she has a dream to someday open up a hotel or something under tourism.
We talked a lot about her dreams, and her strengths, and her weaknesses. (She hates accounting) At the end of the interview, we concluded that we would love to open up a business together. Because of the variety of skills we would bring into the business. I could be back end - she would be front end. I am a more serious person and she is mostly interpersonal. I am great with numbers and she is great with people. I also discussed where I failed as an owner - and what types of business are nto good to get into. (More like why kind of Business scams to watch out for!)
We talked about opening up a combination hotel / restaurant. I shared with her about a hotel I stayed in once. (During one of my many travels in Toronto.) It was a suite style, with multi floors, swimming pool, and a small gym where people could work out.
We both love to work out & talked about having a real healthy restaurant (Maybe a Swiss chalet style - our favorite) and The Gym to be open to the Public 24 hours (Gym, Sauna, Hot tub, etc) I use to go to 24 hour gyms in Toronto and there is a big lack of inconsideration for people who works shifts (as do entrepreneurs)
We both feel that a form of physical exercise is an important part of an entrepreneurs life; Some days to just blow off your stressful day, you go skating, swimming, running, etc) But to be balanced you need to be physically active as well.
Learning Journal (Blog) - Nov 24
What did you learn from our guest speaker? Pick something and discuss it. If you missed the class, use business plans instead.
I didn't catch this guest speakers name, but I wrote like crazy, as she seems to be a source of a lot of information. The one thing I never knew before, or had never thought of was, "Having a back up plan." I never recall during my journey as an Entrepreneur, ever being asked if I had back up plan, or to even incorporate this into my Business plan.
When I started my own business and I worked with ABC & Adel-Kent-Leda, we never discussed a back up plan. My Business was about providing a service as a computer consulting company, so maybe services vs purchase of a building require more sophisticated planning. I am sure, it has to do with the fact that the bank has to do a big investment in this business and they required a a back up plan. (It only makes sense) My Business was really low start-up costs , I need approx $10,000. (this was just to outfit my office with all the electronic equipment to function as a computer consultant) computer, copier, Scanner, various office supplies, desk, etc. The Start-up costs were not high and part of these costs were covered under a grant. In the end I ended up pay back a $5000 loan.
But I thought, what could have been my back up plan. Maybe training (as I do have a teaching degree and I truly enjoy teaching / mentoring) I think I would have fallen back on this.
I didn't catch this guest speakers name, but I wrote like crazy, as she seems to be a source of a lot of information. The one thing I never knew before, or had never thought of was, "Having a back up plan." I never recall during my journey as an Entrepreneur, ever being asked if I had back up plan, or to even incorporate this into my Business plan.
When I started my own business and I worked with ABC & Adel-Kent-Leda, we never discussed a back up plan. My Business was about providing a service as a computer consulting company, so maybe services vs purchase of a building require more sophisticated planning. I am sure, it has to do with the fact that the bank has to do a big investment in this business and they required a a back up plan. (It only makes sense) My Business was really low start-up costs , I need approx $10,000. (this was just to outfit my office with all the electronic equipment to function as a computer consultant) computer, copier, Scanner, various office supplies, desk, etc. The Start-up costs were not high and part of these costs were covered under a grant. In the end I ended up pay back a $5000 loan.
But I thought, what could have been my back up plan. Maybe training (as I do have a teaching degree and I truly enjoy teaching / mentoring) I think I would have fallen back on this.
Learning Journal (blog) - Nov 17
Pick a topic from our 'Current Business Live Feed' and respond to it.
One of the latest activities on the Live Feed is our economy, and how we are being affected with the World economy. The devastation of job losses, the closing of plants, the Canadian Dollar on a big decline (I'm really sad about this - I love to shop in the states.) But the biggest thing on most Canadian minds is: Will I have a job tomorrow? To be frank, this is on my mind as well. As FN working in a FN community, we are solely dependant on Federal Government Funding for our annual contracts. I am a floater, and I rely on 6 - 12 month contracts for the technology services I provide. The uncertainty in the economy causes the Federal Government to become very nervous, and they tend to start cutting costs on various projects, or to stop funding all together. The last time I felt this was approx 2003, when the Federal Government got nervous and stop hiring, closed all contracts that were under negotiation, etc.. I got affected, as I was one of these clients with a sub-contract under Health Canada.
One of the latest activities on the Live Feed is our economy, and how we are being affected with the World economy. The devastation of job losses, the closing of plants, the Canadian Dollar on a big decline (I'm really sad about this - I love to shop in the states.) But the biggest thing on most Canadian minds is: Will I have a job tomorrow? To be frank, this is on my mind as well. As FN working in a FN community, we are solely dependant on Federal Government Funding for our annual contracts. I am a floater, and I rely on 6 - 12 month contracts for the technology services I provide. The uncertainty in the economy causes the Federal Government to become very nervous, and they tend to start cutting costs on various projects, or to stop funding all together. The last time I felt this was approx 2003, when the Federal Government got nervous and stop hiring, closed all contracts that were under negotiation, etc.. I got affected, as I was one of these clients with a sub-contract under Health Canada.
Learning Journal (Blog) - Nov 4
Pick a First Nations woman in business and write about the barriers that she has faced. How has she overcome them? Use the barriers identified in my lecture last night. Pick at least three of the seven.
The Woman I would like to do this blog on my own experiences as a FN Woman Entrepreneur.
I have been an entrepreneur since I could remember. I started my own delivery service at the age of 10. (I saw a need and decided to fill it.) In our community, when I was younger, Giving Christmas Cards to everyone was really a big deal. Money was hard to come by, but you were rich with friends when you had a lot of Christmas cards. So the community was very giving with Christmas Cards. My mom use to hand write 200 Christmas Cards & have to deliver them, then my married sister would, and the family next door, etc. So I saw an opportunity and grabbed at the chance to start my own seasonal business. "Heidi's Christmas Card Delivery Business". I made poster and put signs up. Soon our door was ringing with boxes of Christmas Cards ready to be delivered, I would deliver approx. every 4 days so I would have a stack of Cards (like a mail women) when I went to houses. I got so busy that I had to hire my dad to drive me around. He enjoyed how I earned my money that year. Through out my life I had parents who believed in me and supported me (emotionally and morally). This was where I got my drive to move forward as an Entrepreneur.
Later on in life, as I tested some more small seasonal business ventures I knew I was hooked - I was an Entrepreneur. In 1999, I finally decided to sit down and work out a plan - a real business plan. That was the year I decided to open up :"Simon Computer Consulting"- I had many difficulties, and much enjoyment. The difficulties were similar to the various case studies we read about in, the class text. Mostly mine were finances and budgeting. I learned that when you start a small business - you should be debt free, as there was too much financial stress of wondering how you are going to pay for all your bills. (Not enough income coming in and having too many bills to pay out.) I guess this is why I am back in school, to learn to do it right. I know I will be back in the game again. As for now - I will continue to work towards my FN Business Certificate - learn more time management, budgeting and accounting skills - to use in my next endeavour.
The Woman I would like to do this blog on my own experiences as a FN Woman Entrepreneur.
I have been an entrepreneur since I could remember. I started my own delivery service at the age of 10. (I saw a need and decided to fill it.) In our community, when I was younger, Giving Christmas Cards to everyone was really a big deal. Money was hard to come by, but you were rich with friends when you had a lot of Christmas cards. So the community was very giving with Christmas Cards. My mom use to hand write 200 Christmas Cards & have to deliver them, then my married sister would, and the family next door, etc. So I saw an opportunity and grabbed at the chance to start my own seasonal business. "Heidi's Christmas Card Delivery Business". I made poster and put signs up. Soon our door was ringing with boxes of Christmas Cards ready to be delivered, I would deliver approx. every 4 days so I would have a stack of Cards (like a mail women) when I went to houses. I got so busy that I had to hire my dad to drive me around. He enjoyed how I earned my money that year. Through out my life I had parents who believed in me and supported me (emotionally and morally). This was where I got my drive to move forward as an Entrepreneur.
Later on in life, as I tested some more small seasonal business ventures I knew I was hooked - I was an Entrepreneur. In 1999, I finally decided to sit down and work out a plan - a real business plan. That was the year I decided to open up :"Simon Computer Consulting"- I had many difficulties, and much enjoyment. The difficulties were similar to the various case studies we read about in, the class text. Mostly mine were finances and budgeting. I learned that when you start a small business - you should be debt free, as there was too much financial stress of wondering how you are going to pay for all your bills. (Not enough income coming in and having too many bills to pay out.) I guess this is why I am back in school, to learn to do it right. I know I will be back in the game again. As for now - I will continue to work towards my FN Business Certificate - learn more time management, budgeting and accounting skills - to use in my next endeavour.
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